The President of the Institute and Faculty of Actuaries (IFoA) is a volunteer role held by a Fellow or Associate of the IFoA. Although the core presidential role is not remunerated, the role holder also has a place on the IFoA Board for which, in line with other Board members, the role is remunerated.
Required commitment
- Has the time, energy, and support (home and work) to commit to a 3-year term: 1 year as President-elect (from our Annual General Meeting this year to our AGM in 2025) and 2 years as President (from our AGM in 2025 to our AGM in 2027)
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- A minimum of 1 to 2 days per week on average as President-elect
- A minimum of 2 days per week on average as President, including international travel and approximately 20 days a year as a member of the IFoA Board
(Please note that the above time commitments are simply a guideline and will be impacted by the activity of the Presidential Team and Council in any particular year.)
Specific duties
- Chair of Council (as President)
- Member of IFoA Board (as President) – and therefore must meet the requirements of the task and person specification and the skills and competency assessment for a member of the IFoA Board
- Chair or member of other committees as required
Desired skills
- Strong collaborative leader
- Strong communication skills – a motivator and influencer
- Effective meeting chair
- Acts as an ambassador – public speaker, diplomat, stakeholder management
- Acts as an exemplar of the principles and requirements set out in the IFoA’s governance manual and volunteer information pack
Desired experience
- Experience of operating at Board level, either as an Executive Board adviser or Board Director
- Experience of membership of one of the main IFoA boards or committees
- International experience
- Volunteering experience through which the candidate would have gained an understanding of the IFoA’s structure, culture, and behaviours.
Remuneration
The core presidential role is not remunerated except for standard expenses policy reimbursements. However, as a member of the IFoA Board the presidential role will be remunerated in line with other Board members. It is expected that this will be at a level of £18,000 per annum.
The role of President-elect will not be remunerated.
Election process
The appointment is a decision reserved to Council. The process to be followed is articulated at: Selection process for President-elect 2024/25
Contact us
If you have any questions, please do contact our Corporate Secretary at james.harrigan@actuaries.org.uk.
