Skip to main content
The Actuary: The magazine of the Institute and Faculty of Actuaries - return to the homepage Logo of The Actuary website
  • Search
  • Visit The Actuary Magazine on Facebook
  • Visit The Actuary Magazine on LinkedIn
  • Visit @TheActuaryMag on Twitter
Visit the website of the Institute and Faculty of Actuaries Logo of the Institute and Faculty of Actuaries

Main navigation

  • News
  • Features
    • General Features
    • Interviews
    • Students
    • Opinion
  • Topics
  • Knowledge
    • Business Skills
    • Careers
    • Events
    • Predictions by The Actuary
    • Whitepapers
    • Moody's - Climate Risk Insurers series
    • Webinars
    • Podcasts
  • Jobs
  • IFoA
    • CEO Comment
    • IFoA News
    • People & Social News
    • President Comment
  • Archive
Quick links:
  • Home
  • The Actuary Issues
  • July 2013
07

President's comment: understanding the understated

Open-access content Friday 28th June 2013 — updated 5.13pm, Wednesday 29th April 2020

In his first editorial as president, David Hare believes it is time for actuaries to assert their expertise

2

I am thrilled to be writing this first article to you as president of the Institute and Faculty of Actuaries (IFoA). As I said at the President's Annual Address on 24 June, I had no idea when I qualified as an actuary that, 25 years later, I would be speaking to our members and stakeholders as president. I am humbled to have been elected and welcome the opportunity to help drive forward the IFoA's agenda, both in the UK and internationally.

In recent years, the IFoA has begun to feel very different from the two separate bodies we once had. There is a real sense of energy about the organisation, among both volunteers and staff, which is infectious. We have a strong executive team, led by chief executive Derek Cribb, that is well placed to advance the work of dedicated volunteers and staff, without whom the organisation would not be able to support its members and other stakeholders. I have been struck by the staff's professionalism and commitment to members, and the spread of actuarial influence, which was one of the key reasons I was willing to be considered for president.

I must also mention the value that I place on those who volunteer for the IFoA in whatever capacity. You all play an immense part in ensuring that we continue to provide an excellent and relevant service to each other, to the rest of the members, and to the many stakeholders and others whom we seek to influence. I look forward to meeting as many of our existing volunteers as possible over the next year, and welcoming more as opportunities arise.

Speaking of opportunities, my predecessor as president, Philip Scott, together with Council, established a great new brand for us with a set of values that will help us to build on our successes:

> community - we want to be part of the action, sharing technical expertise and knowledge where actuaries can add value;

> integrity - we want to be known for doing the right thing in the public interest; and

> progress - we are an international organisation that wants to be part of developing actuarial influence.

These values are about growing our reputation and the trust of our audiences. In order to do that, the work of the IFoA must be relevant - and seen to be so.

The three previous presidents of the IFoA all made their mark. Ronnie Bowie was a change champion and oversaw the merger of the Institute with the Faculty. Jane Curtis focused on financial illiteracy, education and regulation and helped forge great links with government. Philip Scott highlighted the advantages of a good brand and knowing what we stand for as an organisation, as well as the importance of recognising our customers' needs.

The role of the president is no longer to set the strategy for the professional body - the Council is responsible for that. The president's role is to act as a proactive ambassador for the organisation and to help add colour to the implementation of Council's strategy.

As the fourth president of the IFoA, my aim is to complement our strategy by making sure that the relevance of what the IFoA and each of its members does is well understood.

As explained in my presidential address, I want the organisation to feel relevant to us and I want it to go without saying that being a member of the IFoA is actually helpful to our careers and the work we do. My address was filmed on the day and is now available to view on the IFoA's website at www.actuaries.org.uk.

I also want the work of our volunteers to be recognised more as fundamental to the impact of the IFoA, and for them to feel appreciated by the rest of us for the time and effort they give. I am keen that volunteers can see the relevance of what they do for the IFoA and how their input supports the bigger picture.

Sadly, it is no secret that often the work of actuaries is misunderstood or liable to conjecture and, as a result, the value of what we do is not appreciated as well as it might be. So, as an organisation that is doing more and more, it is important that our stakeholders and the public gain a better understanding of what we do and why it is relevant to them.

Our proactive public affairs activity, building on our volunteer-led research and consultation responses, will be fundamental to achieving this.

In short, I want to 'ramp up our relevance'.

The IFoA is an international organisation with members spread far and wide, and a professional heritage that dates back over 160 years. With all that talent and experience, and our commitment to working in the public interest, we can help our members and our stakeholders grapple with many of the key issues that are relevant as the world changes.

Most of all, I want our members and volunteers to be proud to be associated with the IFoA , and appreciate that being part of a community means that we can be stronger and more relevant than the sum of all the parts.

This article appeared in our July 2013 issue of The Actuary.
Click here to view this issue
Filed in
07
Topics
General Insurance

You might also like...

Share
  • Twitter
  • Facebook
  • Linked in
  • Mail
  • Print

Latest Jobs

Pensions Actuarial Analyst

London, Midlands, Scotland
£Market Competitive
Reference
143788

Senior Manager/Director level roles - Life insurance

Stirling
Generous salary with excellent bonus and benefits
Reference
143787

Reinsurance Pricing Actuary

London (Central)
£60-90K depending on experience
Reference
143786
See all jobs »
 
 

Today's top reads

 
 

Sign up to our newsletter

News, jobs and updates

Sign up

Subscribe to The Actuary

Receive the print edition straight to your door

Subscribe
Spread-iPad-slantB-june.png

Topics

  • Data Science
  • Investment
  • Risk & ERM
  • Pensions
  • Environment
  • Soft skills
  • General Insurance
  • Regulation Standards
  • Health care
  • Technology
  • Reinsurance
  • Global
  • Life insurance
​
FOLLOW US
The Actuary on LinkedIn
@TheActuaryMag on Twitter
Facebook: The Actuary Magazine
CONTACT US
The Actuary
Tel: (+44) 020 7880 6200
​

IFoA

About IFoA
Become an actuary
IFoA Events
About membership

Information

Privacy Policy
Terms & Conditions
Cookie Policy
Think Green

Get in touch

Contact us
Advertise with us
Subscribe to The Actuary Magazine
Contribute

The Actuary Jobs

Actuarial job search
Pensions jobs
General insurance jobs
Solvency II jobs

© 2023 The Actuary. The Actuary is published on behalf of the Institute and Faculty of Actuaries by Redactive Publishing Limited. All rights reserved. Reproduction of any part is not allowed without written permission.

Redactive Media Group Ltd, 71-75 Shelton Street, London WC2H 9JQ