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.

Sign up by emailing the professional communities team via the link below. By signing up to this MIG you are confirming that your personal details can to be shared with the Managing Committee and members of the Banking MIG.

Join the Banking MIG

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Discuss all things related to the IFoA Finance and Investment practice community in our LinkedIn Group.

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Outputs

  • Panel Discussion- How Banks are responding to COVID-19 Pandemic - 16 July 2020
  • Banking MIG webinar - Career Opportunities in Banking: Retail and Group Risk (Event held on Tuesday, 6 November 2019)

Moderated by: Dick Rae, Chair, IFoA's Finance and Investment Board and the Banking Member Interest Group
Presented by:  Clare Beale, Global Head of Model Risk Management and Model Risk Steward at HSBC, Aonghas McIntosh, Customer Journey Manager at RBS and Antonie Jagga, Financial Management Leader for Pricewaterhouse Coopers, Singapore and South East Asia Consulting

Download the presentation

Banking MIG management committee

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:

Events
  • Implement a programme of events, articles and presentations to facilitate knowledge sharing, education (CPD) and networking.
Community
  • 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.
Involvement
  • 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 memberinterestgroups@actuaries.org.uk.
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)

Mahidhara Davangere

Colm Kelly
Aonghas McIntosh
Damian Mitcham

Iain Allen

Martin Collins

Kudzai Chigiji

Krystna Dougall

Elvis Gannon (IFoA)

Vacancies exist for individuals with complementary skill sets and experience. Please email memberinterestgroups@actuaries.org.uk 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. 

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 Professional Communities Team:

memberInterestGroups@actuaries.org.uk

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Events calendar

  • Spaces available

    Climate-Related Risk - This free to view webinar on Climate-Related Risk is the first in a series focusing on some of the ‘Hotspots’ identified in the JFAR Risk Perspective bringing the Risk Perspective to life with practical illustrations and insights from subject experts from the IFoA and other Regulators

  • Spaces available

    Recent decades have seen institutions, such as employers and financial services, give people more choice and flexibility, but these freedoms have come with more responsibilities. Individuals are now responsible for managing more of their own financial risks, from ensuring they put enough money into their pension to securing affordable protection to be financially resilient.

  • Actuarial Innovation in the COVID-19 era

    This event is online. 
    26 April 2021 - 7 May 2021
    Spaces available

    Join us for this brand new IFoA webinar weries comprising of a fortnight of webinars, panel sessions and a hackathon, that showcase the range of ways in which the actuarial profession has added value, in the public interest, to the understanding and management of the current and future pandemics through insight and learning.

  • Spaces available

    This event is now temporarily closed on Monday 26 April, but the session will be repeated on Tuesday 27 April, 09.00-10.30. Please click here to register your place. 

    Actuaries have a lot to offer biodiversity management over the next decade as the world develops more depth to its response to this global challenge. This sessional offers an opportunity to learn about this emergent risk, to contribute to our thinking as a profession and help us develop the next steps forward.

  • Europe Town Hall

    28 April 2021

    Spaces available

    IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual Europe Town Hall, hosted by John Taylor with IFoA Council Members Alan Rae, Jennifer Hartley, Maribel Vasquez Flores and IFoA Chief Executive, Stephen Mann.

  • Spaces available

    Sessional Meeting - Free to viewMis-estimation risk is a key element of demographic risk, and past work has focused on mis-estimation risk on a run-off basis.  However, this does not meet the requirements of regulatory regimes like Solvency II, which demands that capital requirements are set through the prism of a finite horizon like one year.  This paper presents a value-at-risk approach to mis-estimation risk suitable for Solvency II work

  • Finance & Investment Virtual Conference 2021

    Available to watch globally in May.
    10-12 May 2021
    Spaces available

    This year's Finance and Investment Virtual Conference takes on the timely theme of ‘resilience’, something we have all learnt a lot more about in the last year! Our diverse range of talks will explore the theme of resilience in a variety of ways including in building robust investment portfolios, in the incorporation of ESG factors, in govern

  • Spaces available

    This talk will explore the potential benefits that wearable tech can bring to health & protection insurers and their customers. The traditional approach of integrating wearables into insurance has largely focused on measuring steps and using rewards-based incentive programs to encourage more activity.

  • Spaces available

    Join us for this talk with Professor Sir Adrian Smith as part of the 'Dr Patrick Poon Presidential Speaker Series'. Professor Smith joined The Alan Turing Institute as Institute Director and Chief Executive in September 2018. In November 2020, he became President of the Royal Society, in addition to his leadership of the Turing. He is also a member of the government's AI Council, which helps boost AI growth in the UK and promote its adoption and ethical use in businesses and organisations across the country. He received a knighthood in the 2011 New Year Honours list.

     

  • CILA 2021

    Available to watch globally in May.
    19-21 May 2021
    Spaces available

    We continue to live in a world of global uncertainty. Survival depends on our ability to simultaneously navigate through the diverse root-causes, ranging from: the consequences of Climate Change; on-going financial consequences of the COVID pandemic; or self-imposed changes in regulatory requirements and accounting standards.

  • Pensions Conference 2021

    Online webinar series
    16-22 June 2021
    Spaces available

    Welcome to the programme for our 2nd Virtual Pensions Conference. This year's conference features 11 webinars offering members and non-members the opportunity to get up to date content from leading experts in the pension industry. There will also be opportunity to ask questions and contribute to the discussion.