Structure

Formation of the Institute and Faculty of Actuaries

The Institute and Faculty of Actuaries came into being on 1 August 2010.

At Special General Meetings held on 25 May 2010 voting members of the Faculty of Actuaries in Scotland and the Institute of Actuaries voted in favour of a merger of the two bodies.

The Queen in Council granted an amendment effective 1 August 2010 to the Charter of the Institute of Actuaries in terms that converted it to the Charter for the Institute and Faculty of Actuaries. The assets, liabilities and membership rights of the Faculty of Actuaries in Scotland were transferred on this same day to the Institute and Faculty of Actuaries and the Charter of the Faculty of Actuaries in Scotland was surrendered.  Essential elements of the merger arrangements, such as the Scottish constituency and its representation on the Council of the Institute and Faculty of Actuaries, are incorporated into the new governance documents. 

Governance

Authority for the governance, control and strategic direction of the Institute and Faculty of Actuaries sits with the Council which will in turn delegate to various boards, committees and staff.

Structure

Council organisation chart