When the IFoA launched its latest strategy in early 2020, we also launched a fresh organisational purpose: to be the voice of actuaries, and to support, develop and be the voice of our members.
When the IFoA was formed in 2010, our two predecessor bodies agreed the governance arrangements that we retain today: an elected governing Council, a Management Board that bridges our organisation’s strategy and operations, and an Executive that advances the IFoA day by day.
Along with Matt, I wish to say well done to everyone who has just qualified. He and I visited Singapore and Malaysia at the end of last year and had the privilege of meeting some of our new qualifiers there.
Happy New Year, and congratulations to our recent qualifiers. It’s an amazing achievement, and will provide a solid foundation on which to build a long and successful career. That’s in the future – for now, please enjoy the moment!
A familiar question for actuaries, student or qualified, is: ‘what does an actuary do?’. Friends, work colleagues, US immigration officers and non-executive directors alike have all asked me this at some point. We tend to develop our own responses – ‘insurance maths’, ‘financial projections’ and so on – to move the conversation along, but they probably aren’t great.
I am often asked, ‘What is the point of the IFoA?’ I usually reply that our role is to enable our members and future members to have professionally and personally rewarding careers and to feel part of a professional community that is making a difference.
The first pillar of the IFoA’s current strategy is to reposition the profession. In simple terms, this means moving away from the stereotypical view that actuaries are largely analytical individuals and instead recognising the breadth of skills and talents they are able to offer in new domains and industries. Put another way, we want to ensure that the skills and abilities that actuaries already bring to our traditional areas of work are utilised in wider fields
