Philip Scott becomes president of the Institute and Faculty of Actuaries24 June 2012
Philip is a non-executive director of the Royal Bank of Scotland and of Diageo plc. Over his 37 years in the financial services industry Phillip was Chief Executive of Aviva International and Norwich Union Life, and was Chief Financial Officer of Aviva plc. As president he brings his understanding of risk, finance, international operations and business management in the investment and life and pensions industries to the Profession.
At the AGM today Philip thanked Jane for handing over the reins of a stronger organisation and told members that he was looking forward to his year as president.
“Actuaries have a key role to play in the management and leadership of financial businesses around the world. We now have 40% of our membership outside of the UK; we are an international body whose training and standards are recognised as a kite mark for excellence throughout the world.
“There are new economic realities, risks and challenges being faced by business and political leaders everywhere. The research and conclusions developed by the Institute and Faculty of Actuaries is there to help policy makers, business leaders and regulators in the UK and internationally make informed decisions and we will continue to provide our expertise to inform and manage change effectively.
“As I step in to a leading role for the Profession for a year I see our members doing the same. Over the next year I expect to see the Profession take a leading role in financial services industry debates, adding its voice to the development of policy and regulation and helping to improve the communication between the financial services industry and consumers. At the same time through our leading education and development programme I want to see more of our members taking their place on Boards and in the management teams that steward businesses.”
A jpeg image of Philip is available on request from the media team.
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1. Actuaries provide commercial, financial and prudential advice on the management of a business’s assets and liabilities, especially where long term management and planning are critical to the success of any business venture. They also advise individuals, and advise on social and public interest issues.
2. Members of the Profession have a statutory role in the supervision of pension funds and life insurance companies. They also have a statutory role to provide actuarial opinions for managing agents at Lloyd’s.
3. The Profession is governed by the Institute and Faculty of Actuaries. A rigorous examination system is supported by a programme of continuing professional development and a professional code of conduct supports high standards reflecting the significant role of the Profession in society.
4. The Profession is available to provide expert comment to the media on a range of actuarial- related issues, including enterprise risk management, finance and investment, general insurance, health and care, life assurance, mortality, and pensions.