The Economics Member Interest Group (MIG) is led by the IFoA's Finance & Investment (F&I) Board to:
- Raise awareness and understanding within the profession of actuaries’ use of economic thought, theories and models, the current debate about these, and the importance for users of actuarial advice and society.
- Engage in meaningful discussions in various areas of economics, especially those relevant to our stakeholders. For example, in assessing implications for managing long term assets and liabilities and addressing the related risks and uncertainties.
- Engage with interested parties outside the actuarial profession, including academics, to deepen the level of understanding of MIG members, to help pose and investigate questions of importance to today’s rapidly changing world.
- Promote discussion and debate about the strengths and limitations of actuaries’ current use of economic thinking, and how existing and different approaches should be used by actuaries in future.
- Develop thinking to help establish the IFoA’s position, where appropriate, to allow it to contribute to the wider economic debate.
This MIG hopes to achieve these goals through blogs, webinars, discussion fora, educational materials, discussion articles in The Actuary and elsewhere, and live events. It is open to both actuaries and non-actuaries.
Management Committee of the Economics MIG
The MIG Managing Committee is set up to support the Chair develop and deliver the core objectives of the group. These individuals are:
- Oliver Bettis (Chair)
- Sam Achord
- Iain Clacher
- Nick Foster
- Steve Haberman
- Henry Leveson-Gower
- Lucy Saye
- Alex Waite
- Martin White
Keep informed of upcoming events and get involved by becoming a member of the MIG. 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 Economic MIG.
Webinar: Stimulating diverse economic thinking within the actuarial profession - 14 September 2020. Presentation slides
To be added in due course.
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If you want more information about Member Interest Groups, or would like to start one, please contact the Professional Communities Team:
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This year's GIRO has been re-designed as a virtual conference to offer members and non-members the opportunity to get up to date content from leading experts in the general insurance field via online webinars. All sessions will be recorded and made available to purchase and re-watch post-event on the IFoA's GI Online Learning Resource area.
This webinar will provide an update on the emerging thinking around future regulation of DB schemes:
The webinar will discuss the challenges and opportunities schemes face in evaluating end game options, choosing a target state and understanding the impact this strategic decision could have on member outcomes long after the “end state” is reached. Adolfo, Kevin and Rhian bring over 60 years of experience in the industry and a variety of perspectives as scheme actuary, covenant adviser, trustee, de-risking adviser and insurer.
Retail banking is going through a period of substantial change as it moves into the digital age. Banks have large amounts of data about their customers and about their risks. Open data application programming interface (APIs) and data science are enabling banks to use their data to offer innovative and sometimes personalised services. Data science is also adding value in risk areas such as fraud detection and cyber security. At the same time, the move to online banking is making it easier for firms including fintechs to enter banking without having to establish branch networks.
Cash-flow driven investing is a game-changer for DB pension funds navigating their end-game. Suitable for sponsors who want to reduce risks on their balance sheets. And for trustees, it shifts the focus to providing greater certainty of returns, managing funding level volatility and ensuring they have enough income to pay cash-flow requirements.
Patrick Kennedy, Partner at Gateley Legal and Founding Director of Entrust (a leading professional pensions trustee company), will be delivering an update on the latest legal developments during the course of 2020. With both a pensions legal perspective and over 25 years of trustee service, Patrick will seek to highlight how the letter of the law has continued to evolve against the backdrop of a difficult and challenging year
The talk will provide an understanding of the priorities and relationships between deficit reduction contributions, in the context of wider scheme funding, and different types of value outflow from the employer based on the working party’s recently published report.
Covid-19 has required an urgent and cross-practice initiative to facilitate the extensive impact this pandemic has across all industries. IFoA members have been keen to contribute in a different way, so we developed the IFoA Covid-19 Action Taskforce [ICAT] to coordinate our effort, with a more efficient governance.
We have over 500 volunteers and countless topics which we have amalgamated into 93 workstreams.