IFoA announces first organisations accredited to Quality Assurance Scheme

The Institute and Faculty of Actuaries (IFoA) announced today (12 April) the first organisations to be accredited to their flagship Quality Assurance Scheme (QAS).

The QAS is a voluntary accreditation scheme for organisations that employ members of the IFoA.  It has been created for organisations that want to demonstrate their commitment to effective quality assurance at the organisational level that underpins the quality of actuarial work.  The organisations receiving awards tonight have all passed a rigorous independent assessment of their working environment, culture and procedures. 

Announcing the awards to the accredited organisations, Fiona Morrison, IFoA President, said,

“Public confidence in the quality of actuarial work is vital to both commercial and professional success.  The IFoA firmly believes that supportive work environments, where work is peer reviewed and where employees can speak up, lead to better quality outputs that our clients want and deserve.    

“For some time we’ve been conscious of where our members’ abilities to uphold their professional responsibilities sits. It doesn’t just rest on their personal integrity and competence. It’s also heavily reliant on the culture and environment in which they operate. The IFoA is therefore excited to be accrediting the first winning organisations that have achieved this mark of quality.”

~ENDS~

Editorial notes:

The organisations receiving the QAS accreditation are:

• Aon Hewitt Limited – Retirement & Investment Consulting Business
• Atkin Trustees Limited
• Barnett Waddingham LLP
• BBS Consultants and Actuaries Limited
• Buck Consultants Limited – Retirement Practice
• Capita Employee Benefits Limited & Capita Employee Benefits (Consulting) Limited
• Deloitte LLP, Deloitte MCS Limited and Deloitte Total Reward & Benefits Limited – Actuarial, Reward and Analytics Function
• First Actuarial LLP
• H&C Consulting Actuaries LLP
• Hughes Price Walker Limited
• Hymans Robertson LLP – Investment, Actuarial Benefits and Consultancy, Risk Modelling and Consulting practices
• JLT Benefit Solutions – Trustee, Corporate and Investment Consulting divisions
• Lane Clark & Peacock LLP
• Mazars LLP
• Mercer Limite
• Milliman LLP and Milliman Financial Strategies Limited – Life & Financial Services Consulting; Property & Casualty Insurance Consulting; and Financial Risk Management practices
• Premier Pensions Management Limited – Actuarial Function
• Punter Southall Limited & Punter Southall Investment Consulting Limited
• Quantum Actuarial LLP
• P-Solve Investments Limited – River and Mercantile Derivatives division
• Spence and Partners Limited
• Towers Watson Limited

More information on the Quality Assurance Scheme can be found here, or by contacting: QAS@actuaries.org.uk

About the Institute and Faculty of Actuaries

The Institute and Faculty of Actuaries (IFoA) is a royal chartered, not-for-profit, professional body.

Research undertaken by the IFoA is not commercial.  As a learned society, research helps us to fulfil our royal charter requirements to further actuarial science and serve the public interest. 

Actuaries provide commercial, financial and prudential advice on the management of a business’s assets and liabilities, especially where long term management and planning are critical to the success of any business venture. They also advise individuals, and advise on social and public interest issues.

Members of the IFoA have a statutory role in the supervision of pension funds and life insurance companies. They also have a statutory role to provide actuarial opinions for managing agents at Lloyd’s.

Members are governed by the Institute and Faculty of Actuaries. A rigorous examination system is supported by a programme of continuing professional development and a professional code of conduct supports high standards reflecting the significant role of actuaries in society.

The IFoA is available to provide independent expert comment to the media on a range of actuarial- related issues, including enterprise risk management, finance and investment, general insurance, health and care, life assurance, mortality, and pensions.