Climate Change Working Party – members

Application closing date: 30 March 

The IFoA is seeking to appoint both members and suitably experienced non-members to join the life practice area Climate Change Working Party.

There is a significant amount of focus on climate change and sustainability within the insurance industry and the actuarial profession.

The Life Research Sub-committee is looking for actuaries and professionals with an interest in life insurance, sustainability, climate risk, and ESG (environmental, social, and governance) factors to join a member-led working party. The goal is to contribute to thought leadership and provide practical guidance on climate risk and sustainability issues related to the life insurance practice area.

Research should consider:

  • Investigating if climate change impacts on life insurer liabilities can and should be quantified beyond the ORSA. Is there a sound basis to consider climate change impacts in setting best estimate or shocked assumptions with respect to life underwriting risks? 
  • Reviewing, updating and expending the Practical Guide to Climate Change for Life Actuaries (2019) to help life actuaries efficiently find and understand relevant and up to date information and industry practices.
  • Expectations under recent regulatory developments such as the PRA’s CP10/25.

The working party should consult with relevant members (for example life insurers) for further topics relevant to the life practice area and work with the Sustainability Board to identify potential gaps in current research and overlapping areas of interest.

The working party is expected to publish a series of blogs and articles on this subject with a sessional paper (or other suitable materials) at the end to be used as a reference for actuaries working in this area.

This is an opportunity to produce thought leadership that can be used to inform life actuaries and the broader profession. A key objective is to demonstrate how actuaries can help shape and address the requirements in practical terms.

Time commitment

The commitment is around 12 months. Usually, volunteers are asked to participate in 10 to 14 meetings per year (lasting around one hour) plus time for preparation and post-meeting research and follow up actions.

Total time commitment (including meetings) is expected to be around 6 to 8 hours per month. There is no requirement to meet in person. Meetings are by conference call to allow us to widen this opportunity to all members. Conference calls are arranged at a mutually convenient time for all involved.

Next steps

If you are interested in this role and would like an informal conversation before applying, please email us at engagement.team@actuaries.org.uk.

If you have read all the above and would like to apply, please send us:

  • brief details of your relevant experience
  • your reasons for wishing to get involved
  • your ARN (if you are a member)
  • a brief copy of your CV and full contact details (if you are a non-member)
  • confirmation that you have read, understood, and agree to the information and requirements laid out in our volunteer information pack (please be aware that until we have received this confirmation, we will not be able to appoint you as a volunteer)

Please email all the above to engagement.team@actuaries.org.uk. Please note, we are unable to accept late applications.

We are committed to promoting diversity, equality of opportunity, and inclusion, within all our vacancies and we actively encourage applications from a diverse range of potential candidates. Recognising and embracing the unique and diverse talents of our volunteers is fundamental to the success of our organisation.

What you need to know

Volunteering provides you with a wide range of opportunities. With all rights and opportunities come responsibilities and we ask all our volunteers to comply with the terms of the IFoA’s governance manual and volunteer information pack. Before offering to provide support, please read through: what you need to know.