The Institute and Faculty of Actuaries (IFoA) is the UK’s chartered professional body dedicated to educating, developing and regulating actuaries based both in the UK and internationally.

The IFoA regulates and represents over 32,000 members worldwide, overseeing their actuarial education at all stages of qualification and development throughout their careers. We set examinations, continuing professional development, professional codes and disciplinary standards for our members.

The Institute and Faculty of Actuaries (IFoA) is seeking a Lay member for their Regulatory Appointments Committee.

The Institute and Faculty of Actuaries’ (IFoA’s) Regulatory Appointments Committee (RAC) acts independently of Council in relation to all regulatory decision making within its remit, in the public interest.  It’s role is to make appointments to support the delivery of the IFoA’s regulatory function; namely to the IFoA’s Regulatory Board, all roles to be appointed under the Disciplinary and Capacity for Membership Schemes, to this committee and as otherwise may be specified from time to time.

There are eight members of the committee: four members of the IFoA, three lay members and an independent lay Chair. The committee has a diverse range of demonstrable experience in: interviewing and appointments; diversity, equity and inclusion; and regulatory frameworks (which include setting codes and standards relating to professional conduct and competence, discipline and enforcement, professional qualifications and assessments frameworks, and public interest regulatory aspects of examination and admissions frameworks).  The committee also has experience of peer professional, regulatory and qualification membership bodies in the UK and internationally.

A vacancy has arisen for one Lay Member.  Expressions of interest are encouraged from anyone with skill and experience appropriate to the role.  In particular, the committee has an interest in lay applications from HR professionals who may have experience of regulatory appointments within comparable professional disciplinary and enforcement systems (conduct and/or fitness to practice) and/or international professionally regulated bodies.  In your application, please explain why you think that your experience is relevant to this role, including examples. 

If you are interested in this opportunity and would like to work with the IFoA, please do consider applying.

“Task” and “Person” Specification:

The successful candidate will be involved in discussion and decision making including (but not limited to):

• making appropriate arrangements for appointment and reappointment processes;
• confirming task and person specifications and advertisements;
• sifting applications;
• drafting and having input into interview plans;
• interviewing candidates;
• determining appropriate appointments;
• renewals.

This is a three year appointment renewable for a further three years. 

The role attracts an honorarium of £300 per day, plus expenses.

There are four meetings held each year, typically held virtually. The time commitment for this usually equates to one half day per quarter. In addition, applicants should be able to offer two to three days for sifting or interviews (typically held virtually).

Candidates are asked to provide demonstrable experience in as many of the following areas as possible:

• significant experience in making independent appointments;
• experience of recruitment with excellent interview skills and in particular confident in using a competency based interview approach;
• ability to advise senior professionals of best practice in recruitment and to ensure that they are followed;
• a genuine commitment to the principles of diversity and accessibility in the recruitment and selection of applicants;
• an interest in, and the aptitude to understand, professional regulation and particularly professional discipline and conduct both in the UK and internationally;
• an understanding of the public interest regulatory aspects of examination and admissions frameworks;
• an understanding of professional qualifications and assessments frameworks
• a genuine interest in and understanding of the IFoA’s Regulatory Strategy, its Disciplinary and Capacity for Membership Schemes and/or its lifelong learning offering;
• excellent verbal communication skills, including proven ability to work effectively with others as part of a committee or board;
• the ability to maintain confidentiality and data security;
• IT literate with strong computer skills;

The full job description is available on https://actuaries.org.uk/ifoa-jobs/regulatory-appointments-committee-lay-member/  

How to Apply

If you are interested in applying for the above position please send your CV (maximum of two pages) and a covering letter (maximum 500 words) that addresses how you meet the requirements of the role to HRSupport@actuaries.org.uk by 5 August.

The IFoA encourages applicants from a variety of backgrounds and experience and welcomes diversity with regard not only to protected characteristics but also diversity of thought on its board and committees.  Diversity, equity and inclusion are more than just words for us. That’s why we are committed to creating a culture where everyone feels included and respected, and where no one is unfairly discriminated against. Consequently, we promote diversity, equity and inclusion in all our policies, practices and procedures, and actively encourage applications from a diverse range of potential candidates. All applications for our volunteering roles are considered on merit alone. For more information on our DEI commitments please see our DEI strategy page.