The Institute and Faculty of Actuaries (IFoA) announced today (12 April) that Marjorie Ngwenya has been elected as the next President-elect of the IFoA. Marjorie will take up her position as President-elect in June 2016, when Colin Wilson becomes the new President, taking over from Fiona Morrison. Marjorie will take on the role of President in June 2017.
Marjorie Ngwenya said:
“It is a real honour to be elected by my fellow Council members to the Presidential team. The profession is continuing to expand its reach across the globe, and I am proud to be the first IFoA President-elect to be based outside the UK.
“I am looking forward to continuing the important work done by those who have held the role before me, and to bringing the benefits of actuarial science to more people around the world. The actuarial profession is continuing to expand into new disciplines and I look forward to contributing to this impressive work to move the profession forward.”
Fiona Morrison, current IFoA President, said:
"I am delighted that Marjorie Ngwenya has been elected by Council members to serve as President. She will bring a wealth of experience to the role from her years working in insurance and risk, and will be a real asset to the Presidential team.
“As Nick Salter will be leaving the presidential team as Immediate Past President at the time when Marjorie takes on the role of President-elect, I would also like to acknowledge the great work that Nick has done over the last three years. He has made great strides in bringing the profession forward by championing diversity on all fronts.”
Derek Cribb, CEO of the IFoA said:
“I would like to congratulate Marjorie on becoming the next President-elect and I look forward to working with her as the IFoA continues to use its innovative voice in furthering actuarial science around the world."
About Marjorie Ngwenya
Marjorie was most recently Chief Risk Officer of Old Mutual’s African Operations based in Johannesburg. She was previously a director at Mazars in London and has extensive experience in the consulting and reinsurance fields. She is the first IFoA President to be based outside the UK.
Marjorie is an active volunteer for the IFoA and has just served four years as a member of the Audit and Risk Committee and is a current member of the Management Board. She was the editor of The Actuary magazine for three years until 2011. As an overseas member of Council, Marjorie represents the IFoA as an ambassador, partaking in business visits of the Lord Mayor of London and connecting with the IFoA’s substantial overseas membership. She is a trustee of the Legal Resources Trust in South Africa.
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 two of 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.
For all media queries please contact Sonia Sequeira, Media Relations Manager
For out of hours the Press Office can be contacted at: email@example.com. We aim to respond to all enquiries as quickly as possible.