Our Thematic Review Programme (TRP) is based on collaboration between the IFoA, our members, and the organisations for which they work.
We have a devoted Actuarial Review Team in place to undertake reviews on topics identified as having the potential to provide useful insight into the work of our members. The Team's work will be supplemented by specialist actuarial advice that will be obtained from time to time, for example to assist with reviews on specialist topics.
The TRP will involve review of how work is being carried out in practice by actuaries, including review of the work itself, which will allow the IFoA to share useful learning and good practice with members and their employers. The IFoA hopes that the benefits to organisations will include enhanced information about the quality of the actuarial work upon which they rely to make significant decisions.
Current and planned reviews
You can find up to date information on the Current and Planned Reviews page.
Form of reviews
The form of reviews will depend on the particular theme and will involve a mixture of smaller targeted and larger scale reviews. It is expected that, for many of the reviews, the format will involve a site visit and interview with a member of the Actuarial Review Team and/or a review of particular work. There may also be scope for reviews to be carried out by providing documents to the IFoA for a desk based review and/or for them to be done by video or telephone conference.
Outputs from reviews
The outputs of the reviews will be used by the IFoA to ensure its standards, guidance, Continuing Professional Development (CPD) events, and qualifications are as effective and relevant as possible, helping it to safeguard the reputation of the profession and serve the wider public interest.
Read our Thematic Review Reports – Pensions: actuarial factors used to calculate benefits in UK pension schemes and General insurance: involvement of actuaries in pricing for UK home and motor insurance.
Recordings of our webinars are available for members on the IFoA's Virtual Learning Environment (VLE).
The thematic reviews will potentially apply to any area of actuarial work and themes will be identified using a range of sources, including:
- ongoing risk analysis undertaken by the IFoA’s Regulation Board;
- the Risk Perspective document published (and renewed from time to time) by the Joint Forum on Actuarial Regulation;
- the risk analysis work carried out by the Financial Reporting Council (FRC) in determining the scope of the specific Technical Actuarial Standards (TASs);
- insights shared with the IFoA by regulators with an interest in actuarial matters including the Financial Conduct Authority (FCA), FRC, Prudential Regulation Authority (PRA), and the Pensions Regulator (TPR); as well as
- the IFoA’s other regulatory activities (including its disciplinary process).
It is anticipated that thematic reviews will not be restricted only to UK work but might have a wider geographic scope.
For more information please contact the Actuarial Review Team
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