When I delivered my presidential address, we were living through a period of immense change, presenting both challenges and opportunities.
Six months later we are still living in uncertain times, with no slowdown in the pace of change. I said then, and continue to believe now, that the best way for actuaries, the profession and the IFoA to succeed and be sustainable is for us to keep learning. I made a commitment that my presidency would focus on supporting you to develop your skills so you can adapt to change in existing areas of work, as well as move into new areas. With the start of the New Year, and halfway through my presidential term, I feel now is a good time to check in on that commitment.
I have believed for some years that climate-related risk is the biggest problem facing the world. Its broad reach and widespread effects mean it is a risk that actuaries cannot ignore. I also believe our profession can make a real impact. Assessment and management of climate-related risk is a relatively new field for actuaries, underscoring the need for us to keep learning and adapting our skillsets. The IFoA offers a broad range of resources to support you in this area, including a curated library, practical guides, a new credential and a deep dive into what sustainability means for our profession. All these and more are easy to find through our Sustainability Hub (bit.ly/IFoASustainHub).
Many of you are playing a leading role in the policy conversation on climate change and sustainability, while others are just starting out on their journey in this area, but we can’t rest on our laurels. The field is changing so rapidly that all of us need to develop and enhance our skills in climate risk and related areas, such as biodiversity. In doing so, we can help to ensure the profession continues to make an impact. And there’s so much to learn!
I hope all of you will join me in learning something this year that you feel will contribute to a brighter future.
I wish you all a happy and healthy 2022.
Louise Pryor is the president of the Institute and Faculty of Actuaries