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Finance and Investment Board – A view from a new member

Sophie Wright provides an update.

As a new member of the Finance and Investment (F&I) Board, I attended the Institute and Faculty of Actuaries (IFoA) Induction Meeting on 7 September. I found the session really helpful and welcoming: Stephen Mann, the CEO gave a good overview of the challenges & opportunities facing the organisation in the light of the Pandemic and its consequences. The Communities Engagement Team (Jo Davis, Dawn McIntosh and Terri Myers) briefly presented the IFoA governance, practice areas and guidance on the board roles.   

It strikes me that although it is not easy to convey online, a warm feeling of community, the induction meeting was both informative and very welcoming. It was a lively complement to the comprehensive online Governance Manual.

On Thursday 16 September, I had my first meeting as a member of the F&I Board, for the 2021/2022 session. My colleague, Elizabeth Waghorn, has written a great summary blog of the meeting.

It was impressive to receive, one week before the meeting, a comprehensive and informative Board pack and agenda, and to be part of a diverse team. It was also very useful to have first-hand echos from the IFoA Council through Gilli Engel, who is the representative on the F&I team.

The Board meeting was well structured, informative and engaging, brilliantly chaired by Gareth Mee, with Clara Hughes as the Deputy Chair, and time just flew by. Chika Aghadiuno (IFoA Diversity Action Group), invited by Clara, gave an inspiring and pragmatic insight into the DEI initiative, and the FCA/ PRA/ BoE consultation paper on DP 21/2: Diversity and inclusion in the financial sector – working together to drive change.

From my perspective as a newcomer and a non-actuary Board member, it was brilliant to feel truly included in all the initiatives and discussion right from the start. The team discussion around potential engagement initiatives, in line with the F&I board strategy, was particularly energising.

I was glad to contribute ideas, drawing from my own experience and areas of expertise in risk management and governance in International Investment Banking. I am thrilled to be part of this Learning Organisation, while being inspired by Tan Suee Chieh ‘s posts on Tips for young Actuaries, as well as Louise Pryor’s motivating speeches online.

I look forward to collaborating with all my colleagues over the coming months on a wide range of topics including global strategy, communication, diversity, sustainability and of course risk, in line with the Vision, Skills, Mind-sets and Domains strategy.

Find out more about the Finance and Investment Board