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Resource and Environment Board

The Resource and Environment Board is made up of senior volunteer actuaries, drawn from a variety of practice areas, with experience or interest in environmental matters. It is the senior committee that advises the Institute and Faculty of Actuaries (IFoA) on important Resource and Environment issues and sets key objectives annually.

The Board is responsible for:

  • developing member-led research working parties and helping push through research outputs, such as sessional research papers, presentations and articles in the British Actuarial Journal (BAJ)
  • providing timely CPD opportunities through specialist events and by working with other practice areas, ensuring all members have access to Resource and Environment CPD of the highest standard
  • helping to shape IFoA responses on consultations 
  • raising issues of strategic interest to the profession.

The principal areas of focus for the Resource and Environment Board, in the 2018/2019 Session, are:

  • to support actuaries in existing practice areas with resource and environment issues
  • to develop the actuarial profession, enabling Actuaries to work in the resource and environment area
  • to serve the public interest.

The Resource and Environment Board will work to meet the above through pursuit of the following key objectives:

Board Objectives

  • Deliver between two and four practical guides to support actuaries in understanding how to consider climate risk in their fields of work, from a list of possible fields that will be defined by the Board.
  • Give support on Resource and Environment issues to all members, regardless of their location.
  • Use the practical guides for liaison and outreach purposes across different stakeholder communities, both internationally and within the UK

Communities

  • Focus on growing awareness in different actuarial communities of practical guides and implications for actuarial work.
  • Develop mechanisms for effective digital engagement of actuarial communities.

Education

  • Continue to be involved with education part of the IFOA to influence and direct more R&E themes into the education syllabus (additional subjects and additional content).
  • Look for additional opportunities for R&E themes to go into syllabus e.g. modelling of climate related issues and how we allow for these in the work that we do on how climate change will affect underlying exposures
  • Look to try and get an education actuary to represent R&E
  • Try and get an R&E type questions into the exams 

Events and CPD

  • Demonstrate the provision of CPD opportunities across a range of:
    • Geographic locations
    • R&E topics
    • Formats (eg events, webinars, and podcasts)
    • Providers (including Subcommittee-led, IFoA conferences and outside sources)
    • Degree of technical knowledge (both entry-level, and more advanced levels)
  • Deliver an R&E sessional meeting in November 2018 and plan for the delivery of another in 2019
  • Create content to help actuaries to learn about R&E topics through private and collaborative study, eg
  • Study groups led by the R&E Member Interest Group
  • Articles and blogs, eg on the IFoA website and in The Actuary
  • Discussions on social media, eg R&E LinkedIn group
  • Engage with the Lifelong Learning Board

International

  • Act as conduit to ensure relevant parties are aware of the R and E initiatives of the IFoA and other actuarial bodies
  • Lead and/or participate in joint IAA projects
  • Engage with the IAA REWG to shape and support its aims and to align with the R and E Board’s objectives
  • Disseminate content originating from the Research and CPD subcommittee

Policy and Regulation

  • In conjunction with the Executive, create engagement with regulatory, actuarial and industry bodies together with other interested parties for the purposes of developing and promoting the actuarial perspective on a range of R&E topics.
  • Identify actuarial angles on issues relating to R&E policy and regulation and promoting the actuarial perspective and/or evidence to influence public policy development.  Examples of this include the SDGs, TCFD and responding to consultations where appropriate.
    • Oversee strategic relationships; ensuring learning from relationships are used to bolster awareness within the profession of R&E considerations so that suitable allowance is made for these in modelling and in professional judgement, especially within statutory roles.
    • Strategic liaison, and management of the relationship, with the Regulation Board and the Joint Forum on Actuarial Regulation.  
    • Effective oversight of other partnerships including the UN Principles for Responsible Investment, the UN EP Finance Initiative Principles for Sustainable Insurance and the Taskforce for Climate-related Financial Disclosure.
    • Identify gaps and requirements that have arisen from practical guides work (eg macro-economic modelling of the impacts of Climate Change).
    • Identify gaps and requirements that have arisen from the Risk Alert and potential knowledge/skills gaps for best practice.

Research

  • Support existing R&E working parties to help ensure useful outputs on a timely basis
    • Climate Change Working Party
    • General Insurance Practical Guide Working Party
    • Investment Practical Guide Working Party
    • Life Practical Guide Working Party
    • Climate Risk Reporting Working Party (cross practice with Risk Management)
  • Help establish two new working parties and/or “task and finish” groups with appropriate objectives
  • Identify key questions for actuarial research on R&E topics and, if appropriate, develop the case for commissioning external research to study one or more of them
  • Facilitate appropriate access to the latest external developments in research for the R&E Board, RCPD Subcommittee, public affairs team and other actuaries

Resource and Environment Board 2019/2020 membership:

  • Simon Jones (Chair)
  • Nick Spencer (Deputy)
  • John Bayliss
  • Patrick Cleary
  • Joe Kennedy
  • Mark Rothwell 
  • Matthew Modisett 
  • Wendy Walford
  • Sandy Trust
  • Andrew Tedder
  • David Ford
  • Alasdair Smith
  • Briony Shannon
  • Lucy Saye
  • Dawn Heasman-Riley
  • Neil Mitchell
  • Jihan Diolosa
  • Dermot Grenham (Council representative)
  • Sharon Cumberbatch - Resource and Environment Communities Manager 

The Board operates within a Terms of Reference.

The Resource and Environment Board is supported by one specialist sub-committee:

The Resource and Environment Board is dedicated to raising awareness of environmental issues that effect actuaries in various practice areas across the world. 

The Board is represented on the Resource and Environment Working Group of the International Actuarial Association.

Prior to the establishment of the Resource and Environment Board, much work in this area was carried out by the Resource and Environment Member Interest Group (MIG). The work of the MIG is now conducted by the Resource and Environment Board but its past work can be accessed here. A new Resource and Environment MIG was set up in 2017  in order to build and share resource and environment knowledge among IFoA members to expand the profession’s capacity in this area.

How to join the Resource and Environment Board

All vacancies arising on Boards and their sub-committees are advertised on our volunteer vacancies web page.  Further information for volunteers, including tips on how to chair a meeting, can be found in the Volunteer Induction Pack (VIP).

Contact Details

If you have any questions about a practice area, its working parties, Member Interest Groups or Board and sub-committees, please contact the Communities Team:

professional.communities@actuaries.org.uk

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Events calendar

  • Sessional Meeting - Operational Risk Dependencies

    Royal College of Physicians of Edinburgh 9 Queen St Edinburgh EH2 1JQ
    20 January 2020

    Fully booked.

    The Operational Risk Working Party aims to assist actuaries and others in the modelling and management of operational risk. One of the key challenges in modelling operational risk is the modelling of dependencies between operational risks, and between operational and non-operational risks such as market, credit and insurance risk.

  • KSS event in Glasgow: Public Sector Pensions

    Hymans Robertson, Glasgow 20 Waterloo St, Glasgow
    30 January 2020

    Spaces available

    – the unappreciated key assumption, the resulting unsustainable promises, the unmanaged risk and the unrecognised debt? 

    Speaker: Allan Martin will present this talk on 30 January in Glasgow, Stirling and Edinburgh. If you wish to register for another location please return to the Events Calendar.

  • KSS event in Stirling: Public Sector Pensions

    M&G Prudential, Stirling Craigforth Campus, Stirling
    30 January 2020

    Spaces available

    – the unappreciated key assumption, the resulting unsustainable promises, the unmanaged risk and the unrecognised debt? 

    Speaker: Allan Martin will present this talk on 30 January in Glasgow, Stirling and Edinburgh. If you wish to register for another location please return to the Events Calendar.

  • KSS event in Edinburgh: Public Sector Pensions

    Hymans Robertson 1, Exchange Place, Semple St, Edinburgh
    30 January 2020

    Spaces available

    – the unappreciated key assumption, the resulting unsustainable promises, the unmanaged risk and the unrecognised debt? 

    Speaker: Allan Martin will present this talk on 30 January in Glasgow, Stirling and Edinburgh. If you wish to register for another location please return to the Events Calendar.

  • The Great Risk Transfer – Breakfast briefing and launch event

    Staple Inn Hall, High Holborn London WC1V 7QJ
    31 January 2020

    Fully booked.

     

    Launch of the IFoA’s 2020 thought leadership campaign The Great Risk Transfer. The campaign will examine the trend of the transfer of risk from institutions to individuals, and how people can be better equipped to manage the financial risks they now face. At this breakfast event the IFoA will launch a call for evidence on this topic.

  • Joint IFoA and SOAT Professional Skills Training event - Bangkok

    Thai Life Insurance PCL, 13th Floor, Meeting Room 13/2, 123 Ratchadaphisek Road, Din Daeng, Bangkok 10400, Thailand  
    7 February 2020

    Spaces available

    This session is jointly organised by the Institute and Faculty of Actuaries (IFoA) and the Society of Actuaries of Thailand (SOAT).

    Video case studies will be selected from the IFoA’s 2019/2020 online content which covers a range of topics under an overarching theme of “A Trusted Profession”. This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Life, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

     

  • Cyber Risk Event

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    10 February 2020

    Spaces available

    What do good cyber practices look like and, to what extent, can we as an industry implement these operationally and recognise these for underwriting?

  • KSS event: Where now for pensions?

    Royal London Group, 1 Thistle Street, Edinburgh, EH2 1DG
    18 February 2020

    Spaces available

    With a single party government at Westminster holding a comfortable majority, and with the first phase of Brexit complete, the potential for radical reforms of the pensions landscape is increased. 

    Former Pensions Minister Steve Webb discusses what changes we can expect to see in pensions including in state pensions, pension tax relief, automatic enrolment and the workplace pension landscape.

  • Sessional: Impact of E-cigarettes Working Party

    Royal College of Physicians, 9 Queen St, Edinburgh EH2 1JQ
    24 February 2020

    Spaces available

    This sessional meeting will be of direct interest to actuaries and others working in the in the Health and Care, Life or Pensions sectors or indeed actuaries with an interest in morbidity or mortality. Note: Registration is from 17.30 in time for the sessional to begin at 18.00.

  • KSS event: How is Scotland’s population changing and what are the implications?

    New Register House, 3 West Register Street, Edinburgh
    5 March 2020

    Spaces available

    The National Records of Scotland (NRS) collects, preserves and produces information about Scotland's people and history to inform current and future generations - work that underpins the fabric of Scottish society and tells the story of our nation. This KSS talk will explore the following and other areas impacting Scotland’s changing population, and assess the potential implications of the changes:

  • Highlights of the Life Conference 2019 - London

    America Square Conference Centre, 17, One Crosswall, America Square, London EC3N 2LB  
    11 March 2020

    Spaces available

    This event will cover the highlights from the Life Conference 2019 held in Dublin.. The Conference Committee has reviewed session feedback and has put together a high-quality technical programme featuring the best sessions from the Life Conference 2019.  Book now to ensure your place.

  • Board agenda: Why Responsible Investing, ESG, and Climate Change matters to Pension Funds, Companies

    Staple Inn, 4 High Holborn, Holborn, London. WC1V 6DR, UK
    19 March 2020

    Spaces available

    Recent years have seen ESG, Climate Change, and Responsible Investing thrust onto the corporate agenda in every boardroom. The same also be said for pension funds. Expectations of how companies should respond are high and NEDs on Boards are expected to adapt and adjust their guidance to companies accordingly. What does this mean for Actuaries serving as NEDs and Trustees?

  • KSS event: A Cashless Society- Benefits, Risks, Issues and Developments

    Deloitte, 4th Floor, Saltire Court, 20 Castle Terrace
    19 March 2020

    Spaces available

    Speaker: Iain Collier, Chair of the CSWP

    The talk will look to cover the following: Progression towards a Cashless Society • Developments home and overseas • Benefits, Risks and Issues • Crypto Currencies and Central Bank Digital Currencies.

    There will be an extended Q&A session at the end of the event.

  • Spring Lecture 2020, Edinburgh - Vicky Pryce

    Assembly Rooms, 54 George St, Edinburgh EH2 2LR
    25 March 2020

    Spaces available

    What next in Economic Policy? Please join us for our annual Spring Lecture presented by Vicky Pryce in Edinburgh. Vicky is Chief Economic Adviser and a board member at the Centre for Economics and Business Research (CEBR).

  • Spring Lecture 2020: Live Streaming at Staple Inn - Vicky Pryce

    Staple Inn Hall, High Holborn, London, WC1 V 7QJ
    25 March 2020

    Spaces available

    This event will be live streamed from Edinburgh. 

    What next in Economic Policy? Please join us for our annual Spring Lecture presented by Vicky Pryce in Edinburgh. Vicky is Chief Economic Adviser and a board member at the Centre for Economics and Business Research (CEBR).

  • Spring Lecture 2020: Live Streaming

    Webinar
    25 March 2020

    Spaces available

    What next in Economic Policy? Please join us on 25 March 2020 for the live stream of our annual Spring Lecture presented by Vicky Pryce in Edinburgh. Vicky is Chief Economic Adviser and a board member at the Centre for Economics and Business Research (CEBR).

  • SIAS Event: CMI Update

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    1 April 2020

    Spaces available

    Following the release of the updated CMI Mortality Projection Model, CMI_2019, the CMI Mortality Projections Committee will lead a discussion on future mortality improvements.

  • IFoA Asia Conference 2020, Kuala Lumpur

    CCEC Nexus, 7, Jalan Kerinchi, Bangsar South, 59200 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
    24-25 June 2020
    Spaces available

    Join us at the IFoA Asia Conference 2020 at CCEC Nexus, Kuala Lumpur where intellectual thought leaders, senior industry players, opinion formers, academics, actuaries and non-actuaries from across Asia and beyond are expected to attend. This year's landmark conference promises to an exciting one as our first Asian President-elect, Tan Suee Chieh will, as newly appointed president of the IFoA, use his presidential address to highlight the two key pillars of the IFoA’s emerging strategy:

    • the reinvention of the profession in terms of its skillsets and mind-sets so that we can thrive in an increasing range of domains in a digital age;
    • the widening application of actuarial science in achieving social impact and sustainability goals.

    We are also delighted to announce that the Honourable Mr. Lim Guan Eng, Minister of Finance, Malaysia, will be the guest of honour at this year's conference.

    Early bird registration is now open until 1 March.  10% group discounts are offered to a minimum of six IFoA members booking in a single transaction.  Limited spaces are available, so please sign-up early to avoid disappointment.