8 February 2021
The Institute and Faculty of Actuaries (IFoA) has published non-mandatory ethical and professional guidance on Data Science for IFoA members. This guidance has been produced by the IFoA Regulation Board in recognition of the practical and ethical challenges that may arise with the increasing use of data science techniques, and the valuable contribution that IFoA members can make in this area of work.
The guidance describes how members’ professional obligations can relate to data science work and contains a number of illustrations and case-studies. We hope it will be of practical value to members when faced with ethical or professional issues or dilemmas.
The Guide was created with valued input from the IFoA’s Education team and Data Science Member Interest Group (Regulation and Ethics Work Stream).
You can read more about the guidance on the IFoA’s website.
In 2019 the IFoA and the UK Royal Statistical Society published a joint Guide on ethical data science that focuses on five broad principles of data ethics and ways of considering these within data science work. The Guide is freely available on the IFoA website.