The purpose of the Board is to help ensure public confidence in actuaries and their work by:
- ensuring that the IFoA regulatory objectives are being delivered and remain appropriate;
- authorising codes and standards relating to professional conduct and competence, including the CPD Scheme; and
- overseeing the proper integration of the IFoA regulatory framework in all IFoA activities.
The Regulation Board is one of five Corporate Boards at the IFoA with delegated powers from Council. In 2016 the Board published its Refreshed Regulatory Policy Statement which summarises the IFoA’s regulatory policy. The Regulation Board reports to Management Board on its activities and progress and to Council annually on strategic matters. You can find out more about the relationship between the Regulation Board, Management Board, and Council in the Governance Manual of the IFoA.
Regulation Board members
The Regulation Board has a lay Chair, and its members include lay people and a balanced representation of member volunteers from different practice areas. The Board has one practitioner member from the IFoA's Council and the IFoA's General Counsel is also a member. The Board is supported by the IFoA Executive. All vacancies arising on Boards and their sub committees are advertised as volunteer vacancies on the IFoA website.
List of members:
- Neil Buckley, Chair
- Ben Kemp, IFoA General Counsel
- Edwin Sheaf, Practitioner Member
- Frank Devlin, Practitioner Member
- Marcia Cantor-Grable, Lay Member
- Matt Saker, Member from IFoA Council
- Melanie Puri, Practitioner Member
- Nicola Bevan, Lay Member
- Shane O'Dea, Practitioner Member
- Elena McLachlan, Regulation Board Secretary
- Emma Gilpin, Head of Regulatory Policy
The Regulation Board meets five times a year. Below you will find information about upcoming Board meetings, including dates and agendas, as well as minutes and papers from previous meetings. Minutes and papers are redacted as and when the Board considers it appropriate to do so.
- 17 November 2020, London
- 2 February 2021, London
- 5 May 2021, London
- 28 July 2021, London
- 29 September 2021 (Strategy Day), Edinburgh
- 10 November 2021, London
Regulation Board annual report
The Board has this year published its first annual report. The report is one of a range of measures recently adopted by the Board to enhance its transparency and accessibility for members and the wider public.
Sub-Boards and Sub-Committees
The Regulation Board is supported by a number of sub-boards and sub-committees which have been set up to help deliver the Board's objectives. The Board is also supported by various working parties and other groups which make recommendations for one off projects. You can find a table of the Board's various sub-boards and sub-committees below. For up to date information on working parties and other groups, please get in touch using the contact details below.
For more information please email the Regulation Board Secretary, Elena McLachlan.
Level 2, Exchange Crescent · 7 Conference Square · Edinburgh · EH3 8RA
Filter or search events
This year's GIRO has been re-designed as a virtual conference to offer members and non-members the opportunity to get up to date content from leading experts in the general insurance field via online webinars. All sessions will be recorded and made available to purchase and re-watch post-event on the IFoA's GI Online Learning Resource area.
This webinar will provide an update on the emerging thinking around future regulation of DB schemes:
The webinar will discuss the challenges and opportunities schemes face in evaluating end game options, choosing a target state and understanding the impact this strategic decision could have on member outcomes long after the “end state” is reached. Adolfo, Kevin and Rhian bring over 60 years of experience in the industry and a variety of perspectives as scheme actuary, covenant adviser, trustee, de-risking adviser and insurer.
Retail banking is going through a period of substantial change as it moves into the digital age. Banks have large amounts of data about their customers and about their risks. Open data application programming interface (APIs) and data science are enabling banks to use their data to offer innovative and sometimes personalised services. Data science is also adding value in risk areas such as fraud detection and cyber security. At the same time, the move to online banking is making it easier for firms including fintechs to enter banking without having to establish branch networks.
Cash-flow driven investing is a game-changer for DB pension funds navigating their end-game. Suitable for sponsors who want to reduce risks on their balance sheets. And for trustees, it shifts the focus to providing greater certainty of returns, managing funding level volatility and ensuring they have enough income to pay cash-flow requirements.
Patrick Kennedy, Partner at Gateley Legal and Founding Director of Entrust (a leading professional pensions trustee company), will be delivering an update on the latest legal developments during the course of 2020. With both a pensions legal perspective and over 25 years of trustee service, Patrick will seek to highlight how the letter of the law has continued to evolve against the backdrop of a difficult and challenging year
The talk will provide an understanding of the priorities and relationships between deficit reduction contributions, in the context of wider scheme funding, and different types of value outflow from the employer based on the working party’s recently published report.
Covid-19 has required an urgent and cross-practice initiative to facilitate the extensive impact this pandemic has across all industries. IFoA members have been keen to contribute in a different way, so we developed the IFoA Covid-19 Action Taskforce [ICAT] to coordinate our effort, with a more efficient governance.
We have over 500 volunteers and countless topics which we have amalgamated into 93 workstreams.