Late last year Council gathered and discussed, at a very high level, the IFoAs strategy.
Late last year, Council gathered and discussed, at a very high level, the IFoA's strategy.
The headlines from that session will drive the Corporate Plans for the IFoA.
For actuaries to remain relevant we must consider the skills we need, and the domains we will be operating in. The recent refresh of the curriculum, our discussions with you around the IFoA's Associateship designation and establishing the IFoA in data science are all areas in which we are working to ensure we are future-fit.
We also need to consider how quickly we refresh our curriculum for it to remain relevant to future employers. Our aspiration is to have 'an actuary in every business'.
For the IFoA to grow and thrive, it must add value for its members. Activity within this area includes the Member Survey conducted at the tail end of 2018 with the purpose of developing compelling propositions for the various member communities. Outcomes from this will be shared this year.
We also recognise the need to consider the relationships between the international actuarial associations in an environment where there are already 10 times more jobs for data scientists than for actuaries.
Finally, we must be heard on the impacts of ageing populations on state funding for pensions and social care, and on climate change. We're also working hard to develop a robust process for setting future strategy and looking at how we receive input from our Corporate and Practice Boards.
Jules Constantinou is the president of the Institute and Faculty of Actuaries
