The IFoA treats allegations of any behaviour inconsistent with its values, including allegations of bullying, very seriously. We have policies and processes in place to investigate and deal with any such matters, including dignity at work and grievance policies, designed to protect the welfare of both staff and members.
In August 2022, following an independent investigation, a grievance made by an employee to the IFoA in relation to the behaviour of a senior IFoA volunteer was upheld. The Management Board of the IFoA accepted in full the findings of the investigation and issued an apology to the employee concerned. The work of implementing the recommendations made to the IFoA by the investigator is nearing completion. Most significantly, following a further independent review, in June 2023 Council approved significant changes to the IFoA’s governance, which it has begun to implement. More details of these governance changes are available on our website.
In May 2023, the senior IFoA volunteer, whose term in their role at the organisation had come to an end in 2022 but who remained a member of the IFoA, submitted a nomination for the IFoA Council election. The nomination was considered in accordance with IFoA governance processes at the time.
The AGM was postponed until 6th September to enable these processes to conclude. The senior volunteer subsequently withdrew their nomination. Council elections were opened to qualifying members to vote on 6th July and a list of nominees is available on our website. The IFoA also published its annual report and accounts on the same day. The IFoA is satisfied that appropriately robust and fair processes were followed in relation to its Council elections, including the process followed by its Nominations Committee.
As with any complex situation, there are lessons that can be learned and this is why we are focused on implementing the recommendations in relation to our governance, which we believe are an important and essential step in setting up the IFoA, both structurally and culturally, for a successful future. The IFoA is satisfied that appropriately robust and fair processes have been followed and the limitations in its rules and procedures which have been highlighted by this case will be addressed as part of the forthcoming governance changes.
The IFoA strongly refutes any allegations that the grievance investigation did not follow fair and appropriate process. The IFoA also strongly refutes any suggestion that the grievance or investigation were in any way driven by cultural or racial differences.
The IFoA is committed to making sure the demographics of its leadership, membership, and employees are more reflective of our wider society. While this is an ongoing process, the IFoA is proud of the progress it is making on diversity, equity and inclusion. It has published a forward-thinking DEI strategy, and recently consulted on DEI changes to its code of conduct.
The IFoA is committed to implementing its governance changes in full and has complete confidence in both its volunteer and executive leadership to take the IFoA forward and shape the future of the actuarial profession. We will be communicating both regularly and publicly with our members on the changes in the months ahead.