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Actuarial Monitoring Scheme

An enhanced system to promote the quality of actuarial work

 The Actuarial Monitoring Scheme (AMS) is a system for monitoring the work of actuaries. It is designed to improve the effectiveness of actuarial regulation in the public interest, provide meaningful, credible, independent feedback to members and their employers and promote ongoing reinforcement and continuous improvement.

The AMS forms an important part of a professionalism framework designed, through carefully balanced interventions and support, to provide evidence of the quality of actuarial work and to promote best practice. It will allow us to consider, in time, issues of relevance to members across the profession, wherever they are practising.

In the summer of 2018 the IFoA consulted on proposals to introduce monitoring of the quality of actuarial work. Following one of the largest response rates to a regulatory consultation that we have ever received, we announced in late 2018, the decision of the IFoA’s Regulation Board to proceed with the introduction of:

  • Regular Thematic Reviews looking at particular topics, roles and/or areas of work relevant to actuaries; and
  • Data Gathering activities on a scheduled and ad hoc, thematic basis. To include (but not limited to) questionnaires, surveys, analysis of insights shared by co-regulators, workshops, focus groups and information obtained from the IFoA's Quality Assurance Scheme.

The outcome of these reviews and data gathering will be used to continuously improve, and, if necessary, adapt the AMS, to ensure that those forms of monitoring are working effectively.

Contact Details

For more information please contact the Actuarial Review Team

reviews@actuaries.org.uk

Level 2, Exchange Crescent · 7 Conference Square · Edinburgh · EH3 8RA

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Events calendar

  • Disinvestment or engagement?

    21 September 2021

    Spaces available

    Chaired by Lucy Saye, join a panel of life insurance asset owners and asset managers as we discuss the merits of disinvestment and engagement when considering the integration of ESG in investment decision making. We will consider practical application as well as the implication of regulatory regimes.

  • Spaces available

    A panel discussion with investment representatives discussing the impact of investment on climate change and vice versa.

    This event is part of The Road to Glasgow: IFoA’s Sustainability Thought Leadership Series which will provide a platform for prominent contributors so that our members and others can understand the perspectives of a wide range of parties interested in the climate debate.

  • Scottish Actuarial Webinar Series 2021

    Online
    7 October 2021 - 8 October 2021
    Spaces available

    Join us for the IFoA’s first ever Scottish Actuarial Webinar Series organised by the Scottish Board especially for members of the Scottish Constituency which will provide an ideal mix of CPD to take into your reflective practice discussions. 

  • Spaces available

    Climate change is one of the greatest risks facing our world today. Addressing it will require multi-faceted solutions. Through this panel session, we will explore the different levers that can be used to meet net-zero targets including climate science and data, government engagement, and mobilising green finance.

  • Spaces available

    How governments and societies collectively respond to the climate crisis is increasingly being analysed through the lens of intergenerational fairness. Our expert panel will assess and explore the extent to which inter-generous fairness is being considered in climate policies, the lessons from those countries who are leading the way on fairness and justice in climate interventions, and more.

  • The Growth Mindset for Actuaries

    13 October 2021 - 8 December 2021

    Spaces available

    This practical course is aimed at actuaries at any stage of their career who want to develop their own growth mindset and apply it to their work setting and personal or professional lifelong learning. The content of the course builds on the lecture given by Dr Helen Wright on Growth Mindset as part of the President’s 2021 Lecture series, and will be delivered over a period of 2 months, from mid-October to early December.

  • Spaces available

    The climate crisis and the degradation of our planet will affect societies everywhere. How we address these threats will require solutions that transcend borders. As a global profession, the actuarial community is well-placed to consider and propose effective risk management solutions to help manage the climate crisis.