Actuaries work in a variety of practice areas and are supported by six practice area executive committees. These committees support members in their area of practice in a variety of ways, including by providing CPD opportunities, acting as a focal point for knowledge development and research and fostering a sense of community amongst members practising in the area.

If you have an idea for an activity which you think the profession should be taking forward (perhaps a topic for research or a thread for a new discussion board) or there are other member services which you think the profession should be providing, we would like to hear from you; please e-mail member_support@actuaries.org.uk. Alternatively, and if your idea relates to a specific practice area, contact the relevant practice executive committee secretary direct; details are available via the People section in each practice area (links below).

Enterprise risk management

Enterprise Risk Management (ERM) is the process, effected by an entity’s board of directors, management and other personnel, applied in strategy setting and across the enterprise, designed to identify potential events that may affect the entity, and manage risk to be within its risk appetite, to provide reasonable assurance regarding the achievement of entity objectives. Actuaries working in this area are supported by the Enterprise Risk Management Practice Executive Committee.

Finance and investment

The Finance and Investment Practice Executive Committee gives broad support to actuaries working in the finance and investment area. Prior to March 2008, finance and investment and risk management were dealt with by the Finance, Investment and Risk Management Board.

General insurance

Although it is still true that only a relatively small part of the actuarial profession works in general insurance, there has been significant growth in recent years. Furthermore, although any material involvement only began about 30 years ago, actuarial contributions to general insurance go back to the first edition of Journal of the Institute of Actuaries in 1851. Actuaries working in this area are supported by the General Insurance Practice Executive Committee.

Health and care

Today actuaries are making an impact in many aspects of healthcare, and are supported by the profession via the Health and Care Practice Executive Committee. In both the private sector and public sector actuaries' work will expand as the government seeks ways of restructuring the welfare state to meet the demands of a changing population.

Life insurance

Actuaries have traditionally worked in life insurance, and their role and responsibilities have evolved as life assurance itself has developed external relations. The Life Insurance Practice Executive Committee supports those members working in both insurers and consultancies who are concerned with long-term (life insurance) business.

Pensions

Advising on company pensions is a time-honoured role for an actuary in a rapidly developing area. Pensions actuaries now advise trustees, companies and scheme members on arrangements including defined benefit, risk-sharing and defined contribution schemes. They work with specialists such as pensions lawyers and administrators to help keep schemes running well and meeting the needs of employers and pension plan members. Actuaries working in this field are supported by the Pensions Practice Executive Committee.

Social policy

The Social Policy Board ceased to exist on 1 March 2008, when the profession's revised structure took effect. During its lifetime it provided input to Government and others on the development of social policy, wherever actuaries have a contribution to make. There are a number of member interest groups which are continuing the work undertaken by the Social Policy Board and its committees.