Climate-Related Risk - This free to view webinar on Climate-Related Risk is the first in a series focusing on some of the ‘Hotspots’ identified in the JFAR Risk Perspective bringing the Risk Perspective to life with practical illustrations and insights from subject experts from the IFoA and other Regulators.
The session takes an in-depth look at “the risk that actuaries may not take into account appropriately, or communicate clearly, the impact of climate-related risks on decisions of users of actuarial advice.”
This is your opportunity to ask questions of our panel of experts and to learn about activities in this area across the profession including information about resources to help you mitigate these risks.
Louise Pryor, President-Elect, IFoA, will chair the discussion with a panel of experts:
- Nick Spencer, Chair of the IFoA’s Sustainability Board
- Mike Clark, Founder Director, Ario Advisory
- Sarah Breeden, Executive Director, UK Deposit Takers Supervision, Prudential Regulation Authority
- David Fairs, Executive Director, Regulatory Policy, Analysis and Advice, The Pensions Regulator
- Ben Kemp, General Counsel, IFoA
About the speakers
Sarah Breeden, Executive Director, UK Deposit Takers Supervision
Sarah is the Executive Director for UK Deposit Takers Supervision, responsible for the supervision of the UK’s banks, building societies and credit unions. She has oversight of the Bank of England’s (Bank) work enhancing the financial system’s resilience to climate change. Sarah also chaired the NGFS Macrofinancial workstream.
Sarah was previously the Executive Director for International Banks Supervision, where having joined the directorate in 2015, she was responsible for supervision of the UK operations of international banks.
Before moving into supervision, Sarah was a Director in the PRA’s Financial Stability Strategy and Risk Directorate, where she focused on developing the UK’s macroprudential policy making framework and supporting the Financial Policy Committee. Previously she was head of the division in the Financial Stability Directorate that assessed risks to financial stability from financial markets, the non-bank financial sector, and the real economy.
Sarah led the Bank’s work to support the transition of prudential regulation of banks and insurers from the Financial Services Authority to the Bank.
Prior to that she was head of the Bank’s Risk Management Division and head of Special Projects in the Markets Directorate, leading the design and risk management of financial market operations undertaken by the Bank including those launched during the financial crisis.
Mike Clark, Founder Director, Ario Advisory
Mike Clark runs a responsible investment advisory business working with asset owners, policymakers, regulators and others. He recently authored the first guest publication for ATC (Actuaries for Transformational Change): Government and its Chief Risk Officer role: an assessment – Actuaries for Transformational Change. He also authored the Sustainability Board’s climate change curated reading list. He recently stepped down from the Brunel board (LGPS) after nearly four years, was Specialist Adviser to the House of Commons EAC for their 2018 Green Finance inquiry, and represents IFoA on the Oxford Smith School Sustainable Finance global Advisory Council.
David Fairs, Executive Director Regulatory Policy, Analysis and Advice (TPR)
David was appointed Executive Director of Regulatory Policy, Analysis and Advice on 2 July 2018, having previously been a senior partner in KPMG’s Pension Practice. He is responsible for the development of policy for TPR and has oversight of TPR’s professional advisers including lawyers, actuaries, investment advisers and business analysts.
He is co-chair of TPR’s Diversity and Inclusion Committee and a member of the cross-Government Portfolio Committee overseeing the introduction of the Pensions Dashboard. He is the responsible Executive for climate change and ESG within TPR and a member of HM Treasury’s TCFD Senior Steering Board, the Stakeholder Stewardship Working Group, the Working Group on Productive Finance and the Climate Financial Risk Forum. He is also a member of the Joint Forum for Actuarial Regulation and chairs the Pensions Working Group.
David is a former Chairman of the Association of Consulting Actuaries and Director of the Association of Consulting Actuaries Limited, a former Council member of the International Actuarial Association and the inaugural Chairman of the Joint Industry Forum for Workplace Pensions. He was also a Council member of the Society of Pension Consultants and a former Chairman of the Actuaries Club.
David is also Chair of the Genomics Development Board for Sarcoma UK, an advisory Board member of the Association for Business Psychologists and the Department of Mathematical Sciences at Essex University and a Governor of the Pensions Policy Institute.
Ben Kemp, General Counsel and Director, The Institute and Faculty of Actuaries
Ben Kemp is General Counsel and Director at the Institute and Faculty of Actuaries. Ben was formerly a partner in the Regulatory and Professional Discipline department of London law firm, Kingsley Napley LLP. Prior to that he trained and worked for ten years as a solicitor with Shepherd+ Wedderburn LLP. He is dual qualified as a solicitor in Scotland and England and Wales, a solicitor member of the Scottish Solicitors Discipline Tribunal. Additionally he serves as a Legal Assessor appointed to advise disciplinary panels of the Royal Institution of Chartered Surveyors and is a part time tutor in public and constitutional law at the University of Edinburgh.
Louise Pryor, President-elect of the IFoA
In the course of a varied career as an actuary, software engineer and academic, Louise was Director, Actuarial Standards at the Financial Reporting Council, where she led the development of the Technical Actuarial Standards. She has practised as an independent consultant in the areas of software risk and sustainability and has worked on financial modelling for social security and pensions reform in a number of emerging economies.
Louise is Chair of the London Climate Change Partnership and a non-executive director at the Ecology Building Society.
She became a Fellow of the Institute of Actuaries in 1987 and a Fellow of IEMA in 2019. She has a degree in Mathematics from the University of Cambridge, and a PhD in Artificial Intelligence from Northwestern University.
Nick Spencer, Chair of the IFoA’s Sustainability Board
Nick is a sustainable investment strategist. He founded Gordian Advice which helps UK Pension Funds integrate responsible investment into their investment strategies and portfolios. Gordian Advice currently works with a range of corporate DB, LGPS and DC clients who are responsible for £100bn in assets.
Nick is Chair of the IFoA’s Sustainability Board and was co-chair of the IFoA's climate-related risks taskforce. He recently co-authored a paper on "Climate scenario analysis - An illustration of potential long-term economic & financial market impacts" as well as the DCIF Good Citizen’s Guide to ESG. Nick is a founding member of Actuaries for Transformational Change, and a member of the Biodiversity Working Party.
Nick is a passionate believer in the importance of values and culture and an advocate for aligning the asset management industry with a broader societal purpose. He was Co-Chair of Russell Investments’ EMEA Diversity & Inclusion Committee and is an Ambassador for the Diversity Project.
Contact Events Team for more information.
0207 632 1498
Live broadcast 10:00 - 11:15