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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

    The purpose of this research paper is to explore enterprise risk management lessons which can be learnt from the Covid-19 pandemic in preparation for potential future pandemics as well as other “gray rhino” or “black swan” events. This paper is not intended to be an all-encompassing solution to the issues presented by Covid-19; rather, the content has been provided to help drive discussions regarding how risk management processes may need to evolve in line with the dynamic nature of the underlying risks that they sometimes need to capture.

  • Spaces available

    This session is for new candidates and existing candidates where we will be discussing the practical steps you need to take leading up your exam and on the day. We will be discussing how to testing the online exam platform, downloading and uploading your paper and key information from the Exam Handbook.

    The exam webinar is for candidates, new to IFoA exams and returning candidates, sitting in the September 2022 exam session.

  • Spaces available

    The role of Non-Executive Directors has become increasingly challenging and critical over the past few years.

    Big picture thinking, Governance knowledge, Independent mindset, Ambassador potential and Energy and commitment: these are the essential skills sought in a successful NED, according to the Chartered Governance Institute (UK & Ireland).

    In parallel, Environmental, Social and Governance (ESG) criteria are increasingly key and used by investors to measure the sustainability and ethical impact of investing in an organisation.

  • Spaces available

    This webinar will cover:

    • Some background on the risks of misselling in an ESG context, including the DWS case

    • Achieving positive impact is a strong antidote to the risks of greenwashing or ESG misselling, however this risks having a tension with fiduciary responsibilities

    • This tension can be resolved with a concept called Universal Ownership

    • Under Universal ownership, investors have an appetite to make a loss in order to achieve positive impact, and yet still have no compromise on their fiduciary responsibilities

  • Spaces available

    In the UK, the idea of collective defined contribution (CDC) pension schemes is gaining more attention with the launch of the Royal Mail CDC scheme, the first of its kind in the UK. Our recent research on CDC plans investigates the sources of the putative benefits of CDC schemes: the smoothing of pensions for members.  Using an attribution analysis to burrow into the scheme design, the reason for the smoothing of members' pensions is explained and understood.

  • Spaces available

    The IFoA's Infrastructure Working Party, led by Chris Lewin, will present its new introductory guide to infrastructure investment, which will be published on the IFoA web-site prior to the webinar.   Those readers whose institutions have already taken the plunge into infrastructure will know that it is a highly complex and diverse field of activity.   This guide does not explore all the matters which investors take into account, but it does discuss many of the more important points, including the risks and past returns, benchmarking, and ESG and SDG considerations.    Attendees will be invi

  • Social Care Agenda

    11 October 2022

    Spaces available

    Social care reform has long been on the to-do list for successive governments over the last two decades. In February, the government’s proposed reforms to adult social care [including cap on care costs] was published. Against this backdrop of funding promise and rising National Insurance taxation, in this session we will debate the resilience of these new proposals, the impact of future demand for care services and what role for the insurance industry and the important role it has played in long-term care funding in other countries where public-private partnership works.

  • Spaces available

    Health contributes to happiness at the personal, family, community and societal level.  Health, importantly underpins all our economic security. This talk will explore the drivers of our health, the measurement of health and the steps we can take to improve health – most of which lie outside the NHS.

  • GIRO Conference 2022

    ACC Liverpool  
    21 November 2022 - 23 November 2022
    Spaces available

    We are delighted to announce the return of GIRO as an in-person conference, giving you an opportunity to connect with actuaries in your practice area. Join leading experts to discuss key issues, emerging ideas, and new research across the General Insurance sector.

  • Life Conference 2022

    ACC Liverpool Kings Dock Liverpool Waterfront Liverpool Merseyside L3 4FP
    23 November 2022 - 25 November 2022
    Spaces available

    Life Conference returns as an in-person conference in 2022, giving you an opportunity to connect with your peers and fellow actuaries in your sector, in person. You will also hear leading experts discuss key issues, emerging ideas, and new research across the Life insurance sector.

  • Spaces available

    Mortality and morbidity risk varies by variables such as age, sex and smoking. In traditional actuarial experience analysis, these variables, and certain combinations thereof can be explored. However, with the wealth of data now available it is becoming increasingly challenging to identify the key drivers of experience and account for the interaction between different variables. A univariate approach often compares apples and pears, for example males are more likely to smoke and have larger policies than females. Likewise, variable interactions are missed unless specifically included.