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Wider Fields

The general purpose of the working party is to help promote the potential for actuaries to use their risk skills to work in areas beyond the traditional practice areas. That promotion to be both internally within the profession (raising awareness of the options) and externally (showcasing actuarial skills and the value they can add in different fields).

The scope of "Phase 1" (completed):

  • Workstream 1 has a framework for considering risk management that fits with the actuarial mind-set and can be flexed to work in different scenarios, the intention is to build awareness of this within the profession and then identify opportunities to share it externally.  This combines well with the Actuarial Risk Principles framework which was developed to increase awareness of actuarial skills in risk management in wider fields.
  • Workstream 2 is focussed on analysing what is being done in the risk reporting space across industry to meet the FRC’s guidance for directors on risk management and internal controls. The idea is to identify good practice and to see whether there are industries that might benefit from actuarial assistance in the risk management space.
  • Workstream 3 complements Workstreams 1 and 2, by looking within the profession to identify particular tools/methods/approaches that actuaries adopt that are applicable in other areas. Then subsequently looking outside the profession to see what risk management techniques and tools are used that we may be able to learn from and add to our repertoire.  Identify common principles, tools, skills that actuaries working in wider fields need/use [this could also involve identifying what is done in the traditional fields that could be applied wider and what others (non-actuaries) are doing in wider fields that we could learn from]

Outputs:

The scope of "Phase 2" (in progress):

  • To raise awareness in the profession of the ways in which actuarial skills can be applied to risk management work in fields beyond the traditional practice areas
  • To raise awareness in the profession of the areas in which actuaries can and are contributing beyond the traditional insurance, pensions etc. practice areas
  • To raise awareness beyond the profession of the actuarial skillset and how it can be applied to help solve problems
  • Achieving a wider diversity of roles for which actuaries are seen as go to employees
Chair: Matt Gurden
Membership: 12
Established: 2016

 

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Contact Details

If you want more information about this research working party please contact the Communities Team.

professional.communities@actuaries.org.uk

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Events calendar

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    Online webinar
    2 September 2019

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    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    3 September 2019

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    5 September 2019

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  • Professional Skills Training session (Jointly held with China Life)

    China Life Insurance, Beijing •  China Life Shanghai Office • China Life Shenzhen Office  
    6 September 2019

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    Friday, 6 September, Beijing Local Time (CST) 14.00-16.30; British Summer Time (BST) 07.00-9.30

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    The main venue will be in Beijing. Members in Shanghai and Shenzhen can join the interaction with Beijing via video conference at China Life’s regional venues. (see full details below)

  • GIRO Conference 2019

    EICC, The Exchange, 150 Morrison St, Edinburgh EH3 8EE
    24-26 September 2019
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    GIRO is attended annually by over 800 delegates and speakers who are keen to discuss key topics such as Pricing, Reserving, Modelling and the future of the insurance industry. GIRO 2018 was a huge success and we have opened bookings early for what we hope will be another brilliant conference at the EICC in Edinburgh this year. 

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    Staple Inn Hall High Holborn London WC1V 7QJ
    2 October 2019

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    Staple Inn Hall, High Holborn London WC1V 7QJ
    3 October 2019

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  • Sessional: Applying Actuarial Theory and Techniques in Non-Traditional Areas - A ‘Green’ Case Study

     9 Queen St, Edinburgh EH2 1JQ
    7 October 2019

    Spaces available

    Have you ever thought about working in wider fields? Would you like to play a role in the fight against climate change to make the planet better? 

    It can be difficult to do this - but seeing an example you can follow can make it more realistic. In this ‘green’ case study a template is outlined to show how actuaries can apply their skills more broadly - and in doing so, to make a difference.

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    Royal Statistical Society, 12 Errol St, London EC1Y 8LX
    7 October 2019

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  • Sessional Meeting - Autonomous Vehicles and impacts on the wider insurance industry

    Staple Inn, High Holborn, London WC1V 7QJ         
    28 October 2019

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    30 October 2019

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  • Hot Topics in Health and Care: Networking and Drinks

    Staple Inn, 4 High Holborn, London WC1V 6DR
    4 November 2019

    Spaces available

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  • Autumn Pension Seminar

    Grand Connaught Rooms, 61-65 Great Queen St, Holborn, London WC2B 5DA
    13 November 2019

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    Join us for this brand new seminar that brings together our Current Issues in Pensions, Pensions and the Law, and Investment for Pension Actuaries events. The seminar builds on the IFoA’s Annual Pension Conference with sessions covering CDC, TPR’s code of practice, investments, legal updates and Professional Skills Training with a focus on interactive discussion throughout.

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      Barnett Waddingham, 163 West George Street, Glasgow, G2 2JJ
      14 November 2019

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      The National Records of Scotland (NRS) collects, preserves and produces information about Scotland's people and history to inform current and future generations - work that underpins the fabric of Scottish society and tells the story of our nation. This KSS talk will explore the following and other areas impacting Scotland’s changing population, and assess the potential implications of the changes:

      • population statistics
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      • birth and death rates, including causes of death statistics.

    • Life Conference 2019

      The Convention Centre Dublin, Spencer Dock, North Wall Quay, Dublin 1
      20-22 November 2019
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      The Life Conference is the premier event for professionals interested in life insurance.  Offering a wide range of workshops and plenary sessions it’s the perfect opportunity to discover what’s hot and current in life insurance ensuring you get up to date on the latest thinking and innovation whilst meeting and exchanging ideas with a broad range of professionals.

    • Autumn Lecture 2019, London - Rt Hon Nicky Morgan MP

      Lincoln's Inn The Treasury Office, London WC2A 3TL
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      The IFoA is pleased to announce that this year’s Autumn Lecture will feature the Rt Hon Nicky Morgan MP as its guest speaker.  Nicky has previously served as Financial Secretary to the Treasury and Minister for Women. She now chairs the Treasury Select Committee whose remit is to examine the expenditure, administration and policy of HM Treasury, along with all of its agencies and associated bodies.

    • Autumn Lecture 2019: Live Streaming

      Webinar 
      2 December 2019

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      Watch the live stream of this year's Autumn Lecture with guest speaker Rt Hon Nicky Morgan MP. 

    • Behavioural Finance Research Launch- 14 January 2020

      Staple Inn, 4 High Holborn, Holborn, London WC1V 6DR
      14 January 2020

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      We are delighted to announce the launch of the findings from our ARC funded Behavioural Finance research with a special evening event at Staple Inn on Tuesday14th January 2020. Entitled Behavioural Aspects of Institutional Investment Decision-Making, this research programme is being delivered by City, University of London, Leeds University Business School and Ipsos.