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Disciplinary Board

The Disciplinary Board oversees and manages the IFoA's Disciplinary and Capacity for Membership Schemes.

The Disciplinary Board’s responsibilities include the following:

  • setting guidance on policies and procedures;
  • setting timeframes for processes;
  • organising training for disciplinary pool members; and
  • producing an Annual Report to Council.

Further detail can be found in the Disciplinary Board’s Terms of Reference and rule 2.41 of the Disciplinary and Capacity for Membership Schemes. 

Governance

The Disciplinary Board is one of five corporate boards at the IFoA.  It is an independent Board reporting directly to Council.  You can find out more about the relationship between the Disciplinary Board and Council in the Governance Manual of the IFoA.

Membership

The composition of the Disciplinary Board is governed by the Disciplinary and Capacity for Membership Schemes and its members are appointed by the Disciplinary Appointments Committee. All vacancies arising on Boards and their sub committees are advertised as Volunteer vacancies.

The Board is comprised of six Fellows and three lay members, including the Chair.  The current members of the Board are:

  • Stephen Redmond (Chair)
  • Kevin Doerr FIA
  • Velia Soames
  • George Russell FIA
  • Jim Webber FIA
  • Simon O’Regan FIA
  • Lay vacancy
  • Actuary vacancy
  • Actuary vacancy

View the Disciplinary Board biographies and Register of Interests.

Secretary: Kirsten Mavor

Scheme Review Working Party

In its 2018 Annual Report, the Disciplinary Board undertook to commence a review of the Disciplinary and Capacity for Membership Schemes (‘the Scheme’).  The Scheme Review Working Party was established to deliver this objective.  Visit the Scheme Review Working Party page for further details.

Determinations Review Sub-Committee

The Disciplinary Board oversees the operation of the Scheme and is assisted by the Determinations Review Sub-Committee.  This Sub-Committee reviews all determinations issued and provides recommendations to the Disciplinary Board.  Visit the Determinations Review Sub-Committee page for further details.

Minutes

The Disciplinary Board meets at least four times a year.  Once approved, the Minutes of the meeting are published with redactions only being made for reasons of confidentiality.  The latest minutes can be viewed below.

Annual Reports

The Disciplinary Board reports annually to Council.  The latest Annual Reports can be viewed below.

Contacting the Board

If you wish to contact the Disciplinary Board, or find out anything further about its work, please email disciplinary.board@actuaries.org.uk.

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Events calendar

  • Finance in the Public Interest Series

    16 March 2021 - 23 March 2021

    Spaces available

    There is widening debate that many of our social, financial and regulatory institutions need to be rethought so that we can create more sustainable futures, particularly in light of the Covid-19 pandemic, the policy/macro-economic response to the pandemic and how it affects consumers, as well as the impending climate crisis. This multi-day series of three keynote webinars, individually presented by leading economist John Kay, Sir Paul Collier, Professor of Economics and Public Policy at the Blavatnik School of Government, Ashok Gupta, Chair at Mercer Ltd, and Nico Aspinall, Chief Investment Officer at B&CE, will open up discussion on these essential topics. The series will culminate in a panel session with Chief Economist of the Bank of England, Andy Haldane.

  • The price is righter

    16 March 2021

    Spaces available

    This webinar provides an overview of the state of the UK protection market, and how different insurers are using different levels of sophistication to price (such as using customer demand models). It considers how insurers have implemented these sophisticated pricing techniques, and the practical challenges they have faced.

  • Transactions & fund restructuring - maintaining momentum in a changed landscape

    16 March 2021

    Spaces available

    This discussion will revolve around the latest industry developments including and introduction to Part VII transfers and Schemes of Arrangement (process, parties involved and recent events), insights and lessons from recent with-profits transactions and restructurings (including Equitable Life and Pru-Rothesay), how firms can apply these learnings to future arrangements, and the outlook for future with-profits transactions and restructurings (including the impacts of Covid-19 and Brexit)

     

  • The role of stewardship in creating long term value

    25 March 2021

    Spaces available

    What is stewardship and how has the landscape changed under the 2020 UK Stewardship Code? How does effective stewardship create long term value for beneficiaries and what roles do asset owners and asset managers play in active stewardship. This webinar will offer answers to these questions in a practical approach to stewardship reporting.

  • Sessional Meeting - A Value-at-Risk Approach to Mis-Estimation Risk

    10 May 2021

    Spaces available

    Mis-estimation risk is a key element of demographic risk, and past work has focused on mis-estimation risk on a run-off basis.  However, this does not meet the requirements of regulatory regimes like Solvency II, which demands that capital requirements are set through the prism of a finite horizon like one year.  This paper presents a value-at-risk approach to mis-estimation risk suitable for Solvency II work.