It is a time of change. This brings about challenges, opportunities and risks, and I am honoured to be taking on the leadership of the IFoA at such a time. I believe that the skills and value actuaries can bring are more relevant and needed than ever before.
During my year as your president I wish to ensure that we continue to help people to understand risks, the role of actuaries in this regard and also help them to make the most of the opportunities that arise with change.
We are a profession capable of adapting; 200 years ago we were creating life tables on pieces of paper and today we rely on computers to tackle complex modelling while increasingly acting in an advisory role.
Building on our ability to understand the interaction of complex changes, the actuary of tomorrow will be a skilled and highly valued consultant, guiding clients and the societies in which they live through the complex challenges that they will be facing.
We will be acting to protect and enhance the environment and sustainable prosperity of these communities.
This is such an important role when the ideals of openness and free movement are under threat in our current climate. It's vital that we maintain an open and global perspective.
We must ensure that we are future fit - by which I mean being clear about the value we can add to businesses and society - and communicating it effectively.
We should look to broaden the areas in which we work, translating our skills to benefit new industries.
As a leading professional body for actuaries, we want to ensure that our regulation of the profession stays relevant as the changes caused by the fourth industrial revolution take effect.
We must not stifle our members of their innovation. We must ensure that our professional standards continually develop so that our people are respected, valuedand trusted as we enter new markets and areas of work.
We must continue to be the professional body of choice in a world where our prospective members are faced with so many options.
My vision for us as a profession is to broaden our sphere of influence. We need to ensure we are heard on relevant matters - beyond solely financial services, to give valuable input and insights into a wide range of industries and public sectors.
As your president, I pledge that I will serve you and the best interests of our IFoA. I am keen to hear from you and to understand how our combined efforts can best serve the profession.
In my view, it's a great time to be an actuary!
To watch Marjorie's presidential address, visit: bit.ly/Marjorie_address
Marjorie Ngwenya is the president of the Institute and Faculty of Actuaries