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On 9 November the IFoA held its annual Autumn Lecture, which this year featured Lady Susan Rice, former Chief Executive of Lloyds TSB Scotland and a founding member of the Banking Standards Board.  During the lecture, Exploring the role of banking and business in society, Susan Rice drew on her unparalleled experience to explore the vital role banking and business has to play in society.

Susan Rice is a leading expert in sustainability, most recently becoming chair of the board of Scottish Water.  She has worked tirelessly to promote financial inclusion and firmly believes that business has a responsibility to serve the common good, to help build a better society.  

Lady Rice referenced her extensive experience in the world of business to suggest new ways in which actuaries could contribute to a safe and stable society.  She noted that new regulations imposed on banks are reflecting a belief that institutions have responsibilities towards society, and not just a responsibility to make money.  In reference to this, Lady Rice outlined five C’s which represent a sea change in behaviours: competition, capital, compensation, controls and conduct.  Lady Rice concluded her talk by stating the significant role actuaries have to play in building a sustainability economy.

Over 300 people, including representatives from the wider stakeholder audience of academia, government departments, third sector organizations and business professionals, attended the prestigious event.

Follow this link to view the event.

 

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