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The Cyber Risk Investigation Working Party is looking to you to help shape the focus of its work. How do you think about Cyber Risk? What areas of your work are most impacted? Where do you see the most uncertainty? The working party wants to improve its understanding of current industry views on cyber risk.
It has launched a short 5 minute survey and would appreciate responses, regardless of your role or current understanding of cyber risk. The survey is open to all members of the IFoA and also to other industry professionals who want a voice. All responses will be anonymous.
My name is Keith Jennings, and I am delighted to be your incoming Chair of the Risk Management Board. I want to thank Neil Cantle for all his work as a chair and am really pleased he’ll be continuing to support as a Risk Board member. I’m very keen to connect with our members and understand what you want as a risk community. We’ve established an email address firstname.lastname@example.org and I’d encourage you to get in touch. I am very passionate about risk being at the frontier of actuarial science. In an ever changing world what do you need in term
Ethical issues are rising in prominence, and they span a wide spectrum, including sustainable investing, customer outcomes, wider business practices, conduct and culture.
Best practice corporate governance guidelines are now requiring risk managers to challenge decisions that involve ethical dilemmas.
On 11 April 2019 we brought together a panel of CROs to discuss:
Authors from the Risk measures working party presented their paper “Investment risk for long term investors: risk measurement approaches - Considerations for pension funds and insurers” at a Sessional Research Event meeting in London on 18 March. The presentation covered the fundamentals of investment cash flow shortfall risk for the long term investor, followed by perspectives from each of the pensions and life insurance industries, equity investment portfolio risks and returns, and alternative risk measurement approaches. Some key themes from this research:
The Institute and Faculty of Actuaries (IFoA) Council sets the strategic direction of the IFoA and supports the delivery of the IFoA’s public interest objective. IFoA Council elections are your opportunity to ensure the actuarial profession is equipped to rise to the particular strategic challenges that lie ahead.
How to vote
If you are eligible to vote in the Council election you will have received an email from Electoral Reform Services (ERS) with the subject line: The Institute and Faculty of Actuaries - Council Election 2019.
The revised Actuaries’ Code came into force on 18 May.
The Actuaries’ Code is the ethical Code of Conduct that applies to all Members of the IFoA and Members should familiarise themselves with the changes.
The Code is designed to support Members in adhering to high standards of professional and personal conduct, while protecting the public interest and assuring trust in the profession.
Changes to the Actuaries’ Code
John Taylor, President Elect of the IFoA, speaks about our goal of working in partnership across Africa.
The Lifelong Learning (Life Practice) Sub-committee is seeking to recruit up to four members to join them, who should be a Fellow or Associate member of the Institute and Faculty of Actuaries (IFoA).
The Institute and Faculty of Actuaries (IFoA) is very happy to announce that its prestigious Quality Assurance Scheme (QAS) accreditation has been awarded to AIA Company Limited (Thailand Actuarial Department), known as AIA Thailand, on 9 May 2019 at the IFoA Asia Conference in Chengdu, China. This is the first time the award has been made to an organisation in Thailand. Find out more about the QAS
Other actuary news
Added: Fri, 31/05/2019 - 16:00The majority of private investors are now interested in environmental, social and governance (ESG) factors, and many think these are more important than returns.
Added: Thu, 30/05/2019 - 11:00UK insurance professionals completed almost double the minimum amount of Continued Professional Development (CPD) training required by regulators last year.
Added: Thu, 30/05/2019 - 10:45Insurance and asset management company Nationale Nederlanden (NN) has today announced that it will stop underwriting firms that derive more than 30% of their revenue from coal extraction.
Added: Wed, 29/05/2019 - 18:00A record number of people aged over 70 are choosing work instead of retirement in the UK, analysis of data from the Office for National Statistics has uncovered.
Added: Tue, 28/05/2019 - 15:00Insurance companies settled more motor theft claims in the first three months of this year than in any quarter since 2012, data from the Association of British Insurers (ABI) has revealed.
Added: Fri, 24/05/2019 - 12:16General Data Protection Regulation (GDPR) has resulted in €56m (£49m) worth of fines since it came into force last May, insurance broker Marsh has revealed.
Added: Wed, 22/05/2019 - 15:30The availability of genetic testing kits is one of the greatest emerging risks for life insurers, with considerable implications for data management and regulatory constraints.
Added: Wed, 22/05/2019 - 15:20Financial technology platforms will see their revenues soar from around $263bn (£231bn) today to $638bn by 2024 as customers become more accepting of artificial intelligence (AI).
Added: Tue, 21/05/2019 - 13:42The FTSE 100 could see its combined balance sheet worsen by £100bn as a result of stricter accounting rules for pension schemes and growing pressure to increase contributions.
Added: Mon, 20/05/2019 - 16:40Commercial insurance prices increased more in the first three months of this year than in any quarter since 2012, research from insurance broker Marsh has found.