The IFoA regulates and represents over 32,000 members worldwide, overseeing their actuarial education at all stages of qualification and development throughout their careers. We set examinations, continuing professional development, professional codes and disciplinary standards for our members.
The Institute and Faculty of Actuaries came into being on 1 August 2010 as a result of the merger of the Institute of Actuaries in England and the Faculty of Actuaries in Scotland after members of both bodies voted to merge their respective organisations
The IFoA’s purpose is ‘To be the voice of actuaries, and to support, develop and be the voice of our members.’
Our values are:
Under our Royal Charter we have a duty to regulate the actuarial profession in the public interest. This means that in carrying out our regulatory role, our foremost consideration is what is required to protect the public and how we can ensure that the public has confidence in the work of actuaries. This applies to all of our regulatory roles, for example setting the qualifications and admissions criteria, administering professional standards, developing materials to support and educate about professionalism and compliance with standards, operating a Practising Certificates scheme, investigating complaints about the conduct of members, and operating a disciplinary process.
The IFoA’s policy and public affairs work seeks to inform and influence public policy, legislation and regulation to promote decisions and systems that serve the public interest. We do this by working with our members to promote the relevance and value that actuaries’ expertise and long-term perspective can add to the understanding and good management of risks across society and over time.
Our future is shaped by our vision and values and by our long term strategic objectives.