Tue 15 Feb 2022 - If it was ever okay to consider your business in isolation from its surroundings, today it most definitely is not. Thinking about business within its surrounding system is now a necessity. Products and our businesses need to be considered within their expanding systems – starting from our business in isolation, our business and customers, within their value chain, within the financial system, within its social system and technological environment – in order to increase their value and resilience and to ensure they are fulfilling their purpose.
The question we seek to discuss is: How should we prescribe the boundaries in which we consider problems to enable us to create better products and more resilient companies and systems?
The chair of the IFoA’s Financial Systems Thinking Innovation Centre, will precede the talk with a challenge to actuaries to use Systems Dynamics in their actuarial work.
Dr Nicola Ranger is Director of the Global Finance and Economy Group of the Environmental Change Institute at the University of Oxford and a Senior Research Fellow. She also directs the Oxford Martin Systemic Resilience Initiative, the UK Integrating Finance and Biodiversity Programme and the Resilient Planet Finance Lab. Nicola brings 20 years' expertise in risk, analytics, economics, finance and fiscal policy as a practitioner and researcher across industry, government, IFIs and academia. She works with governments, Central Banks, regulators, financial institutions and international organisations to help align policy and finance with resilience and sustainability goals. She has formerly held senior positions at the World Bank, HM Treasury/Cabinet Office, the UK Department for International Development, the Foreign Commonwealth and Development Office and the London School of Economics and Political Science and is a member of several high-level expert groups, including the European Commission’s HLEG on Sustainable Investment in LMICs and the UK’s Green Taxonomy Advisory Group (GTAG).
Principal and Consulting Actuary, Milliman
Deputy Chief Economist and Head of Department for Economic and Financial Analysis, Financial Conduct Authority