The IFoA’s Purpose and Values – the voice of the actuaries

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In September 2020, IFoA launched our 5-year strategy, which have been worked on by the Council for the preceding two and a half years. We know culture eats strategy for breakfast. So one of the first debates at Council after agreement on the strategy in June 2020 was on IFoA’s purpose and values, and the outcome was unveiled on page 5 of The Actuary magazine this March.

The CoVID-19 pandemic also served as pivotal and inflexion points as we began to do things differently – in relation to exams, webinars, meetings, the way we make decisions, ways of working and we also made a number of governance changes.

I tried to capture this spirit in my presidential address and updates. Ultimately, it is not about words, though they are important. Change will come only if each of us change in the spirit which supports our purpose.

It is clear to me that our purpose as actuaries is to enable the institutions we work with, to be successful and sustainable, adding value by providing sound mathematical modelling and analysis and providing insightful and balanced advice for better decision-making.

As a profession, we also seek to be relevant, influential, and impactful in addressing the public interest issues of our time. In today’s context, this often means speaking to societal sustainability issues and ensuring our institutions deliver value to the people we serve.

I attach all the relevant links as our story continue to unfold.