Risk management – Climate and Nature Risk Reporting Working Party – Deputy Chair

Application closing date: 15 January

The IFoA is seeking to appoint a Deputy Chair for this existing working party.

The working party will provide insight and research on current climate and nature-related risk reporting practices by large UK large insurance regulated companies regulated by the Prudential Regulatory Authority, and large occupational based pension schemes that are subject to either The Pension Regulator or Department of Levelling Up climate risk reporting requirements.

The purpose will be to gauge the quality of climate and nature-related risk reporting, both in addressing TCFD and TNFD recommendations and in implementing the GFANZ transition plan guidance. The research will identify both instances of best practice and broader levels of engagement with various aspects of climate and nature-related risk reporting, including scenario analysis, performance metrics, governance, risk management and strategy aspects.

We are particularly interested in applicants with an active interest in nature related and-or biodiversity loss issues related to financial reporting and-or risk identification and remediation, and ideally with prior experience in working party membership, as the Deputy Chair will work alongside the Chair to lead and support the research of this group.

The scope of the working party:

• Evaluation of the quality of climate and nature-related risk reporting practices by pension schemes and insurance companies to both regulators (for example PRA, TPA) to their stakeholders
• Overview of current UK and relevant international regulations-guidelines, both industry specific and generic (for example, International Sustainability Standards Board, TNFD)
• Survey of best practice internal capabilities in climate and nature-related risk reporting following key aspects related to: governance, fit for purpose, link to risk appetite framework, use of climate and nature-related risk reporting, reporting capabilities
• Critique of TNFD guidance and capacity building materials

Time commitment

The meetings are currently monthly via videoconference. For the Deputy Chair role, we would expect a time commitment or around half a day to one day per month, varying depending on the stage of research.

There is no requirement to meet in person. Meetings will be by videoconference to allow us to widen this opportunity to all members.

Next steps

If you are interested in this role but 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.