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Membership of a CMI committee

Committees of volunteers oversee the running of the CMI's five investigations - annuities, assurances, income protection, mortality projections and SAPS

This page seeks to answer the questions you may have about volunteering for a committee.

How do I join a CMI committee?

Vacancies arise on the committees from time to time. They are advertised as Volunteer vacancies, on the CMI latest news page and in relevant newsletters.

If you are interested in applying to join a CMI committee, please email a brief biography, summarising your skills and experience that are relevant to the committee, to info@cmilimited.co.uk.

All volunteers will be considered, taking into account the current balance of the committee.

All new appointments to CMI committees are subject to approval by the CMI Executive Committee.

What do the committees do?

Within their Terms of Reference each committee is responsible for determining the scope of its work and its prioritisation.  Additional guidelines on the role of volunteers in the CMI's work are contained in the CMI's Governance guidance that we ask all new members of committees and working parties to read.

Much of the day-to-day work is undertaken by the Secretariat; including data collection, data processing and results production. The committee's role is to "oversee" this work, in practical terms this means reviewing the data collected, the data checks, the methodology and the results.

Most volunteer activity, though, relates to "research"-type work. Here there is considerable variation between the different tasks, ranging from reviewing work undertaken by the Secretariat to undertaking original analysis and writing it up as a draft CMI working paper!

Do I have the rights skills and experience?

Each committee needs a mix of skills and experience, including technical expertise and practical experience. The latter may include how business is administered or how CMI outputs are used in pricing, reserving or experience analyses. Generally when a committee seeks new members it is looking for fresh ideas, commitment and enthusiasm.

How much of my time will it involve?

Typically, each committee meets 3 to 4 times a year, for 2 to 3 hours.  Some preparation time and follow-up time should also be anticipated.

Outside of the meetings themselves, the time commitment can vary considerably according to the current work of the committee. The Chairman of each committee is also a volunteer and will obviously understand if you are not able to commit to extensive involvement at a particular time.

Should I check with my employer before applying?

Whilst most of the committee members give up some of their own time for CMI work, there will be occasions where it impacts on the day-job. Committee meetings, in particular, will generally take place during office hours so the support of your employer is essential.

You will probably find that your employer will encourage you to get involved! For most actuaries, joining a committee will help their professional development and may give valuable insights into the work of the CMI.

Does this count towards Continuing Professional Development (CPD)?

We certainly hope that joining a CMI committee will make a valuable contribution to your professional development; in particular it will provide a vehicle for discussion of technical and business issues with other actuaries with an interest in the field.

It is your responsibility, though, to consider whether your involvement in CMI activity fulfils the requirements for the profession’s CPD scheme. If it does, then committee meetings are likely to meet the external and verifiable definitions too.

 

Contact Details

If you have any questions about the CMI please email

info@cmilimited.co.uk

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Events calendar

  • Spaces available

    Sessional Meeting - Free to viewMis-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

  • Finance & Investment Virtual Conference 2021

    Available to watch globally in May.
    10-12 May 2021
    Spaces available

    This year's Finance and Investment Virtual Conference takes on the timely theme of ‘resilience’, something we have all learnt a lot more about in the last year! Our diverse range of talks will explore the theme of resilience in a variety of ways including in building robust investment portfolios, in the incorporation of ESG factors, in govern

  • Spaces available

    This talk will explore the potential benefits that wearable tech can bring to health & protection insurers and their customers. The traditional approach of integrating wearables into insurance has largely focused on measuring steps and using rewards-based incentive programs to encourage more activity.

  • Spaces available

    Join us for this talk with Professor Sir Adrian Smith as part of the 'Dr Patrick Poon Presidential Speaker Series'. Professor Smith joined The Alan Turing Institute as Institute Director and Chief Executive in September 2018. In November 2020, he became President of the Royal Society, in addition to his leadership of the Turing. He is also a member of the government's AI Council, which helps boost AI growth in the UK and promote its adoption and ethical use in businesses and organisations across the country. He received a knighthood in the 2011 New Year Honours list.

     

  • Spaces available

    The General Insurance (GI) Spring Conference is a result of the General Insurance Lifelong Learning Committee (GILL) combining this year’s 'Current Issues in General Insurance' (CIGI) and 'Technical Issues in General Insurance' (TIGI) conferences into a virtual webinar series over 19 – 25 May that will be available to watch online globally.

  • CILA 2021

    Available to watch globally in May.
    19-21 May 2021
    Spaces available

    We continue to live in a world of global uncertainty. Survival depends on our ability to simultaneously navigate through the diverse root-causes, ranging from: the consequences of Climate Change; on-going financial consequences of the COVID pandemic; or self-imposed changes in regulatory requirements and accounting standards.

  • Spaces available

    This is a free webinar on the consultation on changes to the Practising Certificates (PC) Scheme.

    The proposals come from a recent review of the PC Scheme which was the first substantive look at the IFoA’s approach to the requirements and process for PCs since 2010. It responds directly to feedback received on how the current scheme works especially that received from members and PC Holders.

  • Spaces available

    The world is changing. The fourth industrial revolution, globalisation and the COVID-19 pandemic are up-ending traditional social and business norms around the world; changes that were once predictable and steady are now faster and more profound. In response to this tumultuous transformation, Tan Suee Chieh has advocated a reinvention of the actuarial profession, through the adoption of the IFoA’s Vision, Skills, Mindsets and Domains (VSMD) Strategy, to ensure actuaries remain relevant and forward-looking.

  • Spaces available

    Tools like python/R are being heavily used to provide end-to-end analytical solutions for risk management. They help to set up a framework/platform to collect risk data and work out stochastic analytics to provide insights into the risks faced by a firm, be it in any sector. Data science techniques are being used to not only assess risk, but to predict outcomes in the future based on stochastic analysis and impacts of mitigation techniques. This webinar talks about the possible applications of technology to assist actuarial advice in such situations.

  • Spaces available

    The webinar will look at several aspects of intergenerational fairness and our panel of experts will challenge you, society, taxpayers and generations X, Y and Z on key aspects of DB v DC pensions, public v private sector pensions, state benefits and key aspects of sustainability.

  • Pensions Conference 2021

    Online webinar series
    16-22 June 2021
    Spaces available

    Welcome to the programme for our 2nd Virtual Pensions Conference. This year's conference features 11 webinars offering members and non-members the opportunity to get up to date content from leading experts in the pension industry. There will also be opportunity to ask questions and contribute to the discussion.

  • Spaces available

    Given our commitment to the safety of our members and employees, and as the easing of restrictions in respect of COVID-19 cannot be guaranteed at this point in time, we have decided to hold our AGM virtually again this year.

    The Business of the AGM

  • Spaces available

    This is a free webinar on the consultation on changes to the Practising Certificates (PC) Scheme.

    The proposals come from a recent review of the PC Scheme which was the first substantive look at the IFoA’s approach to the requirements and process for PCs since 2010. It responds directly to feedback received on how the current scheme works especially that received from members and PC Holders.

  • Spaces available

    The paper “Asset liability modelling in the quantum era” shall be presented by its authors, Tim Berry and James Sharpe, and chaired by Andrew Smith, Assistant Professor in the School of Mathematics and Statistics at University College Dublin. This gives a summary of historical and current practices in ALM, and then gives an insight into what ALM may be like in the immediate future by demonstrating how quantum computers can be used for ALM. A quantum algorithm for optimising ALM calculations is presented and tested using a quantum computer.

  • Spaces available

    Internal audit is often the Cinderella of the audit world. It’s a regulatory requirement for insurance companies to have an internal audit function, so why not make it as useful as possible?  This session will look at how to link an internal audit plan to the risk register, and how that helps audit committees and boards to spot problems and fix them. And, of course, how to demonstrate that this is happening.