Application closing date: 10 August
The IFoA is seeking to appoint an enthusiastic member to chair the Life Standards and Consultations Committee (LSCC).
The Chair of the LSCC is stepping up to become the Deputy Chair of the IFoA’s Life Board and so the position has become vacant. The successful candidate will chair the LSCC and have a seat on the Life Board. The Life Board oversees the activities of the life practice area, the largest of the IFoA’s eight practice areas.
The LSCC is responsible for the submission of consultation responses to the BoE, PRA, FCA, HMT and Treasury Select Committee (TSC) on behalf of the life practice area of the IFoA.
Many consultation responses are initially drafted by subject matter experts on the working party most relevant to the topic.
The LSCC led the drafting of the response to the HMT Review of Solvency II allowing the Matching Adjustment Working Party to focus on its research paper on the fundamental spread (FS) which was published simultaneously. Together, we were pleased that our proposals on the notching of FS were accepted by HMT.
The Sustainability Board or newly formed Artificial Intelligence and Emerging Technologies Board may hold the pen for consultations that span life, general insurance and investments.
Equally consultation responses may be drafted by interested members of the LSCC themselves.
The LSCC has a key role in determining which consultations the IFoA should respond to and which consultations being drafted by other groups it wants to review. The LSCC also engages with the Regulation Board on actuarial standards.
The Chair of the Life Standards and Consultations Committee has a high-profile leadership role in respect of the work of the LSCC, automatically becomes a member of the Life Board, and regularly meets with the institutions being responded to, such as the PRA, to discuss upcoming, live and completed consultations.
This is a great opportunity to expand your network, exchange ideas, and influence decision-making at the highest levels.
If you are interested in this role but would like an informal conversation with the current Chair 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:
Please email all of the above by 10 August to engagement.team@actuaries.org.uk.
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