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 2015
07

A crisis of confidence?

Open-access content Thursday 25th June 2015 — updated 5.13pm, Wednesday 29th April 2020

Derek Cribb welcomes Fiona Morrison’s ‘promote’ theme to counteract actuaries’ negative self-image

2

As we move into a new sessional year, I wish to extend my heartfelt thanks to Nick Salter for all of his work as president of the IFoA. Giving one's time to lead the profession while heading up a busy consultancy must have been challenging, but Nick took on the role with aplomb. He focused our attention on many important matters, not least on diversity as his presidential theme. Nick, please accept our congratulations and thanks for a successful year.

As Nick becomes immediate past-president, I am delighted to welcome on board Fiona Morrison as our new president. Fiona has a lifetime of volunteering experience and a real passion for the profession. As she explains in her first column for this magazine, she is taking 'promote' as her presidential theme, ensuring that we all work together as volunteers and staff to promote the value of the actuarial skillset, the wider fields in which actuaries could work, and the value of sound regulation.

The importance of promoting actuarial skills to a wider audience has led me to think about the results of our latest stakeholder perception audit, an exercise undertaken annually for us by ComRes, which surveys stakeholders who are important to the success and sustainability of the IFoA to gauge their views about the actuarial profession. We will publish the full results of the survey on the IFoA website soon. 

Interestingly, a strong theme in this year's audit was that the people who hold the most negative views of actuaries are actuaries themselves. They have a sound reputation among employers and regulators: the Morris Review of the profession following the closure of Equitable Life was not mentioned once by external stakeholders in the latest survey results. It is only actuaries who are still talking about it.

It's a vicious circle - actuaries lacking confidence in their abilities can mean that they do not push themselves forward, therefore their value and the quality of their work is not promoted and understood more widely. This is why I welcome Fiona's 'promote' theme. I am incredibly proud of the ComRes results, which demonstrate just how far the profession has come. But actuaries must have confidence in themselves for us to continue moving forward. Retelling the old jokes about introverted actuaries perpetuates a negative image. Take pride in belonging to a profession that has a positive reputation amongst stakeholders for "expertise, professionalism and being highly qualified". 

This article appeared in our July 2015 issue of The Actuary .
Click here to view this issue

You may also be interested in...

2

Letters to the editor: Game of chance

Thursday 25th June 2015
Open-access content
2

Letters to the editor: Actuarial pioneers

Thursday 25th June 2015
Open-access content
2

Letters to the editor: Derivative mis-selling

Thursday 25th June 2015
Open-access content
2

Letters to the editor: Pensions freedom for all?

Thursday 25th June 2015
Open-access content
2

Negative thinking

Eurozone interest rates are proving to be a challenge, says Cathal Rabbitte
Wednesday 1st July 2015
Open-access content
2

Out of bounds

Kelvin Chamunorwa considers developments across the world and the possibilities for actuaries
Thursday 25th June 2015
Open-access content

Latest from July 2015

Around 8,000 small and micro employers have no plans for auto-enrolment

There are around 8,000 small and micro employers due to stage between June and November who have not drawn up plans to meet their auto-enrolment duties.
Friday 31st July 2015
Open-access content
ta

Multinationals face extra hurdles under Solvency II

Multinational insurers with offices outside the EU will need to define how they are supervised as a group under the Solvency II directive.
Friday 31st July 2015
Open-access content

Pension industry 'must sort out' exit fees, says Downing Street

The UK government is looking at ways to address exit fees for those looking to access their pensions.
Thursday 30th July 2015
Open-access content

Latest from small_opening_image

2

COVID-19 forum for actuaries launched

A forum for actuaries has been launched to help the profession come together and learn how best to respond to the deadly coronavirus sweeping the world.
Wednesday 25th March 2020
Open-access content
2

Travel insurers expect record payouts this year

UK travel insurers expect to pay a record £275m to customers this year as coronavirus grounds flights across the world, the Association of British Insurers (ABI) has revealed.
Wednesday 25th March 2020
Open-access content
2

Grim economic forecasts made as countries lockdown

A sharp recession is imminent in the vast majority of developed and emerging economies as the deadly coronavirus forces businesses to shut down across the world.
Tuesday 24th March 2020
Open-access content

Latest from 07

Features-Fiona-Morrison-JS_0282-©Debbie-Rowe.jpg

A worthy promotion

In her inaugural column, the new president of the IFoA, Fiona Morrison, sets out her goals and priorities for the year ahead
Friday 26th June 2015
Open-access content
Share
  • Twitter
  • Facebook
  • Linked in
  • Mail
  • Print

Latest Jobs

Senior Manager - Building new team!

London (Central)
Up to £130k + Bonus
Reference
148845

Shape the Future of Credit Risk Model Development

Flexible / hybrid with 2 days p/w office-based
£ six figure salary with excellent bonus potential + package
Reference
148843

Longevity Director

Flexible / hybrid with 2 days p/w office-based
£ six figure salary with excellent bonus potential + package
Reference
148842
See all jobs »
 
 
 
 

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