New society to give boost to Northern Ireland’s actuaries

The society is aimed at actuaries Northern Ireland and further afield including students training to become actuaries on the Queen's university management school's Actuarial Science and Risk Management degree.

The society will, for the first time in Northern Ireland, offer actuaries and students training to be actuaries the opportunity to discuss and debate the latest issues in the delivery of actuarial services as well as issues surrounding the related professions. Generously funded by Invest NI, it will also offer a platform for local actuaries to provide their opinion on actuarial issues from pensions to investments and beyond and offer students networking and professional development opportunities.

The event will include speeches from Arlene Foster MLA, Minister for Enterprise Trade and Investment and Jane Curtis, President of the Institute and Faculty of Actuaries.

Arlene Foster said:

“We want to see more of the same high quality employment opportunities available for our people here in Northern Ireland as they would find in London, Edinburgh or Dublin. For too long Northern Ireland has exported its best assets in the form of young people, or have watched as their talents are under-utilised when they stay in the region.

“Crucial to that aim is the continued co-operation between our world class colleges and universities, industry and government that has facilitated new course development to meet industry needs.

“Actuarial services and risk management is an excellent example of such collaboration – the Actuarial Science course launched by Queen’s University in 2007 followed extensive consultation with industry, and it marks a very significant development in creating the right talent pipeline for this area.”

Colin O’Hare, President of SONIA and programme director for the Actuarial Science degree at Queen’s said:

“Northern Ireland has a small but strong actuarial base, and with the establishment of the actuarial degree at Queen’s four years ago, now has the capacity to grow rapidly in the future. A further motivation for the development of SONIA is to provide an actuarial visibility for Northern Ireland as it develops as a centre of excellence in actuarial science and risk management across the UK.”

Jane Curtis, President of the Institute and Faculty of Actuaries said:

“With around 40 new actuarial students now passing through Queen’s University every year, the establishment of the Society is timely. SONIA can only help further the standing of the profession in Northern Ireland as it encourages the development of a strong actuarial community focused on research and opportunities for members.”

ENDS

Enquiries: Tel. Michael Scanlan on 020 7632 1453 or email michael.scanlan@actuaries.org.uk

 
Notes to editors:

1. 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.
2. Members of the Profession 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.
3. The Profession is 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 the Profession in society.
4. The Profession is available to provide 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.