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Constitution

Delivery of the objects of the Institute and Faculty of Actuaries (IFoA) - in the public interest, to advance all matters relevant to actuarial science and its application and to regulate and promote the actuarial profession - can only be achieved through good governance

Governance is about the way that an organisation works

It is all about effective decision-making and accountability but with the right checks and balances in place.  It is not about introducing unnecessary or excessive bureaucracy or formality for the sake of it.  When governance failures occur, they can result in reputational and financial loss and it is important that appropriate structures and principles are in place to ensure that this does not happen to the IFoA.  Therefore, we operate within the following hierarchy:

Hierarchy-diagram

Our Royal Charter dating back to the 1800s still provides the constitutional basis for all that we do and for much of our corporate governance. 

Our Bye-laws, Rules and Regulations define, at a high level, how we operate.

Our Governance Manual sets out the structures, processes and principles which underpin the way in which the IFoA operates, makes its decisions and achieves its objectives.  It also helps provide a solid framework for establishing our responsibility to our stakeholders, recognising not only the interests of our members but also those of many other parties, including our employees, independent regulators, the government, the users of actuarial advice and the general public affected by that advice.

Please contact James Harrigan if you have any queries related to the IFoA's corporate governance, including the Governance Manual.

Download the combined Charter, Bye-laws, Rules and Regulations.

 

 

Related documents

Contact Details

James Harrigan, Corporate Secretary

James.Harrigan@actuaries.org.uk

I will try to respond to email queries within five working days.

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Events calendar

  • Spaces available

    A panel discussion with investment representatives discussing the impact of investment on climate change and vice versa.

    This event is part of The Road to Glasgow: IFoA’s Sustainability Thought Leadership Series which will provide a platform for prominent contributors so that our members and others can understand the perspectives of a wide range of parties interested in the climate debate.

  • Spaces available

    Climate change is one of the greatest risks facing our world today. Addressing it will require multi-faceted solutions. Through this panel session, we will explore the different levers that can be used to meet net-zero targets including climate science and data, government engagement, and mobilising green finance.

  • Spaces available

    How governments and societies collectively respond to the climate crisis is increasingly being analysed through the lens of intergenerational fairness. Our expert panel will assess and explore the extent to which inter-generous fairness is being considered in climate policies, the lessons from those countries who are leading the way on fairness and justice in climate interventions, and more.

  • The Growth Mindset for Actuaries

    13 October 2021 - 8 December 2021

    Spaces available

    This practical course is aimed at actuaries at any stage of their career who want to develop their own growth mindset and apply it to their work setting and personal or professional lifelong learning. The content of the course builds on the lecture given by Dr Helen Wright on Growth Mindset as part of the President’s 2021 Lecture series, and will be delivered over a period of 2 months, from mid-October to early December.

  • Spaces available

    The climate crisis and the degradation of our planet will affect societies everywhere. How we address these threats will require solutions that transcend borders. As a global profession, the actuarial community is well-placed to consider and propose effective risk management solutions to help manage the climate crisis.

  • Spaces available

    Content will be aimed at all actuaries looking to understand the issues surrounding mental health in insurance and in particular those looking to ensure products and processes widen access for, and are most useful to, those experiencing periods of poor mental health.