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John Taylor, President of the IFoA, blogs about connecting with our members in the Middle East and East Africa.
This December I’ll be visiting members and employers in the Gulf region before delivering our first Quality Assurance Scheme (QAS) accreditation award in Africa to Zamara Actuaries, Administrators & Consultants Limited (Actuarial Services).
The IFRS 17 CSM Working Party (Life) is seeking to appoint two additional volunteers to support the finalising of its sessional paper (due Q2 2020). The new volunteers will be required to critically review material produced for a sessional paper and be actively involved in the redrafting or revision of sections as appropriate.
Mike Clark is an IFoA volunteer who volunteer’s on a joint-working party, alongside members of the Institute of Environmental Management and Assessment. It is producing a Guide on the Taskforce for Climate-related Financial Disclosures recommendations. Previously, Mike sat on the IFoA’s Resource & Environment Research and CPD committee and he also represents the IFoA on the Global Advisory Council of the Sustainable Finance Programme at the University of Oxford’s Smith School.
The IFoA's Risk Management in a Digital World Working Party is currently researching the risk management practices and capabilities in assessing risks emerging from InsurTech. As part of this, they are carrying out a survey to gain a range of views and experiences.
Many employers support members in taking on IFoA volunteer roles – with their own interests in mind.
Volunteering for your professional body isn’t just about giving something back - it’s also an opportunity for personal and professional development, if you pick the right role. And frequently it is recognised as such by employers.
We are often asked about how our examinations work, so our examination team based in Oxford, UK have brought together the answers to some of the most common questions below.
Although students sit examinations in April and September (known as the session based exams), this is actually the end point of a complex process which starts months before.
Setting exam dates
The first stage of the exam process is the setting of the exam dates.
Exams will normally take place in the third and fourth weeks in April and in the last two weeks of September.
The IFoA has today published a new standard APS X4 which will come into force on 27 February 2020.
APS X4 applies to members carrying out actuarial work in the financial analysis of Social Security Programmes outside of the UK Geographic Scope. In effect, the standard requires members to apply the terms of International Standard of Actuarial Practice 2 (ISAP 2) from the International Association of Actuaries.
The World Bank has launched an environmental, social and governance (ESG) portal that aims to improve the quality, scope, transparency and timeliness of publicly available data. The aim is to help the financial sector identify risks and opportunities around activities that are better aligned with the Sustainable Development Goals. The Sovereign ESG data portal is an online platform providing 67 indicators, such as poverty measures and natural capital, that address all 17 Sustainable Development Goals.
The Investment Association (IA) has announced new guidelines around responsible investment that aim to ensure environmental, social and governance products are being appropriately and consistently labelled.
The Institute of International Finance (IIF) has proposed an industry-wide simplification of terminology around sustainable investment, in order to help scale up sustainable finance. The IIF have released a report that recommends three categories for sustainable investment products: