Welcome to our bulletin bringing you the latest news from the IFoAs Council to keep you informed about what we are doing and the issues we are thinking about.
Welcome to our bulletin bringing you the latest news from the IFoA's Council to keep you informed about what we are doing and the issues we are thinking about.
On 11 October we held our second Council meeting of the sessional year 2017-2018. We discussed the latest developments and proposals from the Council Task and Finish Group on the IFoA's long-term qualification framework. We continue to refine our thinking and will hopefully be in a position to share our proposals with you shortly and get your thoughts and input.
We heard an update following the Data Science Summit, held in September. The summit brought together representatives from all the major actuarial societies around the world to share what each is doing in the area of data science and to identify opportunities for collaboration. The Council is keen to progress quickly with activities in the data science space, including collaboration with sister organisations. Watch this space!
The value of regulated professionals is an issue that is often debated. We were provided with helpful insights from senior members and the lay non-executive director of our management board, who shared their personal views on the subject of regulation. This helped form a debate on regulation in the actuarial world and its implications for our members, focusing on our duties as a self-regulated professional body and the need for proportionality and purpose of regulation.
Consistent with our refreshed strategy, we discussed an early proposed framework for the prioritisation of geographical markets and strategic relationships. The Council was supportive of establishing a Markets Development Board, which is likely to be responsible for the development of markets, both geographical and wider fields of practice, with oversight from the management board.
On the topic of the governance structure review, the Council continued to explore proposals that have been developed over the past year in consultation with, in particular, the chairs of our existing boards and committees. Final proposals will be considered by the Council in January 2018 and we will update you further at that time.
The third meeting of the next Council session will be held on 31 January 2018. Minutes and the Council's future agenda are made available on the IFoA's website for those wishing to read more.
If you have any questions or comments relating to this article, the Council and its activities, or the IFoA's governance, email [email protected]