Diversity Advisory Group

In 2016, the DAG Managing Committee agreed and committed to delivering a programme of work which it feels passionately about but which also directly supports the IFoA Diversity Strategy. This programme of work focuses on six priority areas:

• Online diversity forum 
• Toolkits (x2): Diversity support for boards/committees; back to work
• Mentoring scheme
• Promoting the diversity agenda
• Data and research
• Events

Members of the MIG who are interested in supporting one of these work streams should contact diversity@actuaries.org.uk

Actuarial Mentoring Programme (AMP)

The DAG played a key role in establishing the AMP, which launches in November. The AMP, a pilot mentoring scheme designed to stem the early exit of females from the profession, is being run by specialist mentoring consultancy Moving Ahead in collaboration with the IFoA and Pensions Insurance Corporation (PIC). Senior male and female mentors will be matched with recently and nearly qualified female actuaries. All matches will be cross-functional and inter-disciplinary. 

The places are being offered to employers of actuaries, although ten spaces will be reserved for actuaries returning to work after maternity leave, those who are currently looking for work, or those from smaller firms.

Moving Ahead has created a short film about the benefits of participating in the scheme (below). To find out more contact Clarice Chung (Clarice@moving-ahead.org)

Research:

• Report: Bringing the Benefit of Gender Diversity to All: First Steps: This 2015 report brings together the recent research on gender diversity in the workplace, and applies it to the actuarial profession, setting out findings and recommendations for the IFoA
• WORK Diversity survey 2015: Results and Recommendations: WORK, an independent market research organisation, conducted research on gender diversity in the profession on behalf of the IFoA. All members of the IFoA were invited to participate in the survey. The report sets out WORK’s key findings and recommendations, as well as how we intend to take their recommendations forward. The slides attached to the report contain the raw data – where there is a significant difference in how men and women responded, we have provided the split results.

Events:

• The Carrot, the Stick and Strategies for Success: Harnessing the power of diversity and inclusion at work.  13 February 2017.

• Leading by Example: Diversity Panel - the IFoA joined forces with the Morton Fraser Business Women’s Network to co-host a joint panel event (14th April) entitled Leading by Example: Diversity in Business.  Around 60 delegates attended the event at Morton Fraser’s Edinburgh office, which was heavily oversubscribed.  The panel was made up of Linda Urquhart OBE; Fiona Morrison, Lady Susan Rice CBE and Tanya Castell.  Covering a breadth of issues relating to diversity of all kinds in business, the event encouraged women to act as supportive role models for other women and take courage from their own abilities while recognising competence in others.

  The event was filmed.  Non members can view the film below.  IFoA members should use our virtual learning environment to enable CPD to be vertified.

   

• The Elephant in the Room: The Diversity Questions You’ve Always Wanted to Ask, 14 March 2016. This event features a panel of experts, including Helena Morrissey, founder of the 30% Club and CEO of Newton Investment Management, Jeremy Spira, Thinking Ahead Group, Willis Towers Watson, and Siobhan Martin, Human Resources Director for Mercer UK. All experts in the field of diversity, they share advice, strategies for success and tackle the trickiest questions the audience care to throw at them

  The event was filmed.  Non members can view the film below. IFoA members should use our virtual learning environment to enable CPD to be vertified.

  
   

• Monica Allanach Lecture: Sex in the 21st Century, 15 July 2015. The lecture was named after the first female actuary on Council, Monica Allanach, and was sponsored by her long term employer, The Prudential. The lecture was given by Kathryn Morgan, Director of Regulatory Operations at the Gibraltar Financial Services Commission. A summary of the event was featured in The Actuary

Resources:

• 30% Club UK
• Women on Boards UK
• Cranfield International Centre for Women, The Female FTSE Board Report 2014: Crossing the Finish Line, 2014.
• KPMG LLP, YSP and 30% Club, Cracking the Code, 2014.
• United Kingdom, Department for Business, Innovation and Skills. The business case for equality and diversity: a survey of academic literature, 2013.
• Catalyst, Opportunity Now, Food for Thought: The Gender Business Case - The benefits of increasing agility, balancing boards and eliminating the pay gap, 2013.
• Lord Davies of Abersoch,UK Department for Business, Innovation and Skills. Women on Boards, 2011.
• Women and Work Commission, Shaping a Fairer Future: A review of the recommendations of the Women and Work Commission three years on, 2009.

Are you interested in getting involved in diversity at the IFoA? If you would like to join this group please email your interest to migs@actuaries.org.uk