The Banking MIG was set up to promote actuarial involvement in this area and deliver its objectives

Welcome to the Banking Member Interest Group (MIG), which is here to support our members in banking, those interested in banking as a career, or those wanting to find out more about actuaries in banking.

A management committee has been established to set and deliver the MIG's objectives. The committee has identified a number of short term and medium term goals and the main objectives are:

  • Implement a programme of events, articles and presentations to facilitate knowledge sharing, education (CPD) and networking.
  • Understand the extent to which members of the profession are currently involved in banking, or would like to become involved in banking, and to ensure the programme of events meets their needs.
  • Research the extent and way that other actuarial societies support and encourage their members' interests in banking.
  • Encourage members to become involved. Ideas and volunteers for events or working parties will be gratefuly received. If you are keen to get involved then please contact any of the management committee or email
Professional development
  • Build a knowledge base of actuarial techniques used in banking as a means to equip members for work in the banking sector and as a means to promote the profession's skill sets within the banking industry.
Focal point
  • Act as a point of contact for Public Affairs/Policy Managers on banking related consultations.
The Banking MIG management committee members
Dick Rae (Chair)
Colm Kelly
Aonghas McIntosh
Damian Mitcham
Dr Rajat Sinha
Garry Smith
Matthew Russell
Anne Marie Shepherd
Willem Swiegers
Elvis Gannon (Communities Manager)

Vacancies exist for individuals with complementary skill sets and experience. Please email if you would like to take an active part in the Banking MIG.

Members of this MIG have experience in the Banking, Finance and Investment practice area. The groups’ objectives hope to determine how best members in this area can get involved in consultations; share ideas; and feed ideas on content for banking related events to the F&I Education and Continuing Professional Development committee.  Key areas for delivery include looking at ways to expand the IFoA footprint in the banking sector via:

  1.  Review of Basel regulation to understand where actuaries can possibly add value with relevant training and experience in banking risk roles. [Basel Pillar 1 (Regulatory Capital) considers credit risk, operational risk and market Risk. Basel Pillar 2 (Supervisory) considers other risk types such systemic risk, pension risk, concentration risk, strategic risk, liquidity risk and legal risk. Pillar 3 looks at market disclosures. Basel 3 is due to implement in 2018 alongside existing Basel Regulations and looks to deepen regulation on liquidity risk.]
  2. Review broader commercial banking opportunities for actuaries by analysing job market, engaging with recruiters and potential employers, and understanding competitors in this market
  3. Building and owning relationship with Chartered Institute of Bankers and new Banking Standards commission to collaborate on regulatory and risk developments (including professionalism standards and training)
  4. Act as point of contact for Public Affairs/Policy Managers on banking related consultations. Engage senior actuaries involved in the sector to help promote the profession.
  5. Liaise with education on identified gaps in knowledge/training in exam syllabus and work with CIBS on equivalence/exemptions between the organisations
  6. Develop CPD events for members either IFoA specifically or joint events with other institutes e.g. CIBS, IOR
  7. Liaise with Research to develop research to support the delivery of the above objectives. 
  8. Maintain a risk register with mitigations in line with IFoA practice for this strategic development. 

Members of this group are able to:

  • Identify key issues relating to Banking and Finance and have a desire to raise awareness and contribute to addressing the issues
  • Share knowledge and experience in an educational context for the benefit of other members of the MIG, and the profession
  • Be willing to help develop and share professional best practice
  • Be willing to assist in representing the MIG to engage and influence the IFoA (and other stakeholders) on matters relevant to the group
  • Be able to oversee or contribute to an area of the MIG’s initiative or work stream

The Banking MIG hopes to create a community of banking actuaries. The ambition would be to transform banking as an activity for actuaries and to achieve this; the MIG has set up several linked work streams:

  • To create an ongoing stream of high quality papers for the actuary magazine and other journals that will also provide ongoing CPD for actuaries in banking. The papers look to cover areas of work where the actuarial skills set have proven valuable, responses to industry and regulatory issues and educating actuaries or bankers. The papers should “sell” actuarial skills and insights to an intended audience of bankers
  • Organise and run social events to enable sharing of ideas and experience
  • Create and maintain a central SharePoint where ideas, papers and contacts are accessible to members
  • Engage with other bodies such as the South African Actuaries who are developing a course or the Chartered Institute of Bankers in the UK.

In addition, the MIG in conjunction with the IFoA hopes to consider how to assist actuaries of the future understand banking in order to make it easier for members to move into banking as a career path.

Contact Details

If you want more information about Member Interest Groups, or would like to start one, please contact the Practice Executive:

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Start date
E.g., 26/03/2019
End date
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Events calendar

  • Data Science: Opportunities for Actuaries

    The IFoA's first virtual event   
    26 February 2019 - 29 March 2019

    Spaces available

    The IFoA are launching their first virtual conference on the topic of Data Science, that is free to attend. This is an exciting and forward thinking move to reach members all over the world and to share knowledge and discuss developments and techniques within data science.

  • WCA event – The cost and value of pensions

    Woolf College Lecture Theatre Canterbury CT2 7BQ
    27 March 2019

    Spaces available

    The cost of pensions is a regular source of debate. But how should pensions be valued? And how has this value changed over times? Paul Sweeting will discuss how these questions can be answered, and their relevance to the current pensions issues.

    To book please email Mark Heller

  • SIAS Event: Mortality Improvements Outlook 2019+

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    2 April 2019

    Spaces available

    The CMI Mortality Projections Committee will lead a discussion on mortality projections and how they can be modelled in CMI_2018, including:

    • Recent mortality, and how current improvements vary between different population
    • Long-term prospects for mortality improvements
    • The pace of convergence to the long-term rate
  • Webinar – So You Want to be a NED?

    WEBINAR After registration, you will receive an email confirmation with details on how to access the webinar from your PC, laptop, tablet or mobile.
    3 April 2019

    Spaces available

    Are you considering becoming a NED? Join our facilitated webinar where a panel of experienced NEDs will discuss:

    How you can get started • What qualities and skills are needed to be a NED • What learning and development requirements do you need • Where you can find the necessary resources to build your skills • How a NED role can expand your thinking • How it can enrich your working experience and career • The benefits to being a NED

  • UK Bodily Injury Claims Settlement Framework

    Staple Inn Hall, High Holborn London WC1V 7QJ
    9 April 2019

    Spaces available

    Amid significant UK political uncertainty, the bodily injury settlement framework has continued to make progress. At the time of the Ogden discount rate change of early 2017 and throughout that year, Staple Inn was host to a set of events to discuss the changes and the subsequent MOJ review.

  • Professional Skills Training - London (16 April 19)

    Staple Inn Hall, High Holborn London WC1V 7QJ
    16 April 2019

    Fully booked.

    Please register here to join the wait list

    A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2018/2019.  This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

  • TIGI 2019 (Technical Issues in General Insurance)

    Royal College of Physicians, 11 St Andrews Place, Regent's Park, London, NW1 4LE
    25-26 April 2019
    Spaces available

    This General Insurance CPD offering has been changed from former years of individual one day seminars to include individual sessions for IFRS 17, Pricing, Capital Modelling and Reserving over a two-day event  packaged as Technical Issues in General Insurance, providing attendees with a varied program . The event is suitable for anyone who works, or are interested, in these areas.

  • IFoA Asia Conference 2019, Chengdu

    Crowne Plaza Chengdu Panda Garden, Poly Park 198, No. 1980 ShuLong Avenue,Xindu District, Chengdu
    09-10 May 2019
    Spaces available

    IfoA Logo for eventsOffering a diverse selection of plenary sessions and cross-practice workshops, the annual Asia Conference is the perfect opportunity to discover and discuss current and developing actuarial topics in Asia, whilst providing excellent opportunity to grow your network of contacts.

  • CILA 2019

    30 Euston Square, London NW1 2FB
    14 May 2019

    Spaces available

    CILA is one of the pre-eminent events in the annual Life calendar. It is aimed at practicing life actuaries from life offices, consulting firms and other employers of actuaries. It will also be of interest to all those who work in or advise on, the life assurance market in the UK and Europe.

  • KSS event – Bulk Annuity Market Update

    Willis Towers Watson 2 Lochrin Square, 96 Fountainbridge, Edinburgh EH3 9QA
    15 May 2019

    Spaces available

    This KSS talk will give a bulk annuity market update over 2018 and for 2019 and beyond.  The presenters will also consider bulk annuity options as part of pension scheme de-risking strategies, and how pension schemes can best prepare when requesting a quote in order to achieve a favourable outcome. To book please email

  • KSS event – Bulk Annuity Market Update

    Willis Towers Watson 2 West Regent Street Glasgow G2 1RW
    16 May 2019

    Spaces available

    This KSS talk will give a bulk annuity market update over 2018 and for 2019 and beyond. The presenters will also consider bulk annuity options as part of pension scheme de-risking strategies, and how pension schemes can best prepare when requesting a quote in order to achieve a favourable outcome. To book a place please email

  • Risk and Investment Conference 2019

    Amba Hotel, Charing Cross, Strand, London WC2N 5HX
    20-21 May 2019
    Spaces available

    This year's Risk and Investment Conference will be taking place at Amba Hotel, Charing Cross, London.

    To book your place click here.


  • Sessional Research Event - Saving for Retirement: Rules of Thumb

    Staple Inn Hall, High Holborn London WC1V 7QJ
    20 May 2019

    Spaces available

    How much does the average person need to save over a full working life to provide a decent retirement income? We call this the Lifetime Pension Contribution (LPC) and have attempted to quantify it.

  • NED Event: Behavioural Finance and Boards

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    18 June 2019

    Spaces available

    Substantial work has been undertaken in the field of behavioural finance to explore the psychological factors affecting investment decisions made by individuals.  In contrast, “behavioural” factors (such as politics or human psychology) affecting decisions and actions made by institutional investors, such as insurers or pension schemes, are less understood.

  • Pensions Conference 2019

    Bristol Marriott Hotel City Centre, 2 Lower Castle Street, Old Market, Bristol, BS1 3AD
    18-19 June 2019
    Spaces available

    Covering current topics and industry trends, the conference also includes a pre-conference evening dinner (18 June) giving you the opportunity to develop your network. 

  • Current Issues in General Insurance (CIGI) 2019

    Inmarsat, 99 City Road, London, EC1Y 1BJ
    19 June 2019

    Spaces available

    CIGI will provide an excellent and diverse line-up of speakers, each providing their insight and knowledge on a range of topics.  The programme will be broad in nature, so will be of most value to those with some experience in the industry. 

  • SIAS: The Impact of Air Pollution on Health and Life Expectancy

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    2 July 2019

    Spaces available

    Air pollution has gained increasing attention lately. Nicola Oliver, head of longevity and mortality research for Medical Intelligence, will discuss not only the impacts of air pollution on health and life expectancy but also how as an industry we should be addressing it.