Application closing date: 20 April
The IFoA is seeking to appoint both members and suitably experienced non-members to join the newly formed Financial Education Working Party. The group will be looking at financial education in the UK insurance market.
Financial education plays a crucial role in promoting financial inclusion by equipping individuals with the knowledge and skills needed to access, understand, and effectively use financial products and services.
Research should consider how can life actuaries support the improvement of financial education in insurance products, and look to understand:
The need to address barriers to financial inclusion is a key priority of the new UK government. It is included within its focus on growth/financial services – the government is seeking inclusive growth.
HM Treasury have set up a financial inclusion committee. Its mission will be to tackle barriers to individual and households’ ability to access affordable and appropriate financial products and services. We’re keen to engage with HM Treasury and other relevant stakeholders on this topic and co-ordinate a joined-up approach to work on financial inclusion.
There is opportunity for this working party to collaborate and create thought leadership that informs the government, market, and consumer groups while contributing to broader financial inclusion goals. The working party should consider engaging with key stakeholders such as the Association of British Insurers to seek their input and influence the debate.
There is also the possibility of members representing the IFoA and having the opportunity to engage with wider stakeholders. A key aim is to showcase how life actuaries can play a practical role in shaping and addressing these requirements.
It is hoped that the initial commitment would be around 12 months, with the schedule and timing of meetings to be established at a first meeting.
Usually, volunteers are asked to participate in 6 to 12 meetings per annum (lasting around one to one and a half hours) plus time for preparation and post-meeting research and follow up actions.
There is no requirement to meet in person. Meetings will be by conference call to allow us to widen this opportunity to all members. Conference calls will be arranged at a mutually convenient time for all involved.
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:
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.
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.