Location

Why attend?

Nick Robins, Co-Director of the Inquiry into the Design of a Sustainable Financial System being run by the United Nations Environment Programme, will discuss the link between finance and sustainability issues from a global perspective, using the extensive research which has emerged from this study since it began in January 2014.

The meeting will include discussion of the issues and an opportunity to question a panel also including Nico Aspinall, Towers Watson, who is co-ordinating our own research into this area on behalf of the IFoA’s Resource and Environment Board, which will be presented later in 2015.

Who should attend?

• The financial system is fundamental to the work of all actuaries and this is an opportunity to discuss its stability, possible reforms, and the potential impact on what we do
• Any actuary interested in sustainability and the relationship with the financial system
• Any actuary wishing to consider the implications for other resource and environmental areas and the opportunities that may be created.

Registration: 17.00 to 17.30

Programme: 17.30 to 19.00

Networking reception: 19.00 to 19.30

Location

This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Life, GI or any other technical discipline).

Come along prepared to take part and say what you think!

Why is professional skills training important?

What is whistleblowing?  What are your professional responsibilities when something “does not smell right”?  Where should you go for advice and support?

What sorts of situations can arise in practice?  We will watch and discuss some of the recently developed video case studies. Come and prepare to be challenged – these everyday situations may have a sting in the tail.

This session will qualify for two hours of Professional Skills CPD, as required by some members under the IFoA’s CPD Scheme 2014/2015.

If you book a place and then find yourself unable to attend a professional skills event, please inform the events team to avoid preventing others who wish to attend being able to do so.  These events often have a waiting list.

Event Timings:

17:15 – 17:30 : Registration

17:30 – 19:30 : Presentation

Speaker:

Sally Calder, Education Actuary

Location

Manx Actuarial Society - Solvency II - Asset Look Through

Speaker : George McCutcheon - Director, Financial Risk Solutions

Venue: PricewaterhouseCoopers, 60 Circular Road, Douglas, Isle of Man

As the industry moves to a risk based solvency regime, the question of exactly what assets are in a unit linked fund becomes important for determining how the fund will behave in a shock scenario. Whilst the Isle of Man is not subject to Solvency II, it is in the middle of the first Quantitative Impact Study into the impact of implementing a risk based solvency regime following the core principles of the International Association of Insurance Supervisors. Given the vast number of unit linked funds and portfolio bonds operated by Isle of Man insurers, the issue of asset look through is a significant one.

George McCutcheon - will present on Asset Look Through from a Solvency II aspect, after which there will be an opportunity for questions and discussion on the implications for the Isle of Man.

George is a graduate of University College Dublin in Mathematical Science and is a Fellow of the Institute and Faculty of Actuaries. He is a director and co-founder of Financial Risk Solutions, a software company specialising in the licensing of fund administration software to life assurance companies. He has presented a number of papers at the Life Convention of the IFoA and has co-authored a number of papers for the Society of Actuaries in Ireland including the 2011 paper on placing value on tax losses in unit linked funds.

This meeting will be suitable for investment staff and those considering the new risk based solvency principles as well as members of the MAS, so please feel free to invite them.

If you would like to attend this event please email - Thomas Morfett

Location

Yorkshire Actuarial Society - Innovation in Annuities

Speaker - Andrew Kenyon

Venue - Aviva, Wellington Row, York, YO90 1WR

This session will look at the possible financial technologies that could be embedded into "post-liberalisation" retirement products and lessons learnt from other countries.

If you would like to attend this event please contact Malcom Slee

Location

Bookings now open

Why attend?

This seminar will provide topical and practical updates and discussion on the latest thinking and innovations in mortality and longevity.

Who should attend?

The program is designed for life and pensions actuaries eager to learn about the latest developments in mortality and longevity.  The sessions are designed to be very accessible to a broad range of experience.

For more information on the topics and speakers please see the booking form available to download below.

Booking form: 

MortLong Event Booking Form 2015.pdf

Location

Over the past year there has been a significant increase in focus in this area, both as a means to compensate for the compression in yields on traditional assets, and to provide alternative sources of finance to industry as banks retrench.

Please book via the Bristol Actuarial Society website - http://www.bristolactuaries.org/CurrentEvent.aspx?ID=214

Timings

17.30-18.00: Registration

18.00-19.00: Programme 

Location

The Chinese Actuarial Network UK (CANUK) is delighted to invite you to celebrate its third anniversary at Staple Inn after another successful year. 

Admission is free for all CANUK members and honoured guests and is on a first-come first-served basis.

Special thanks to the Institute and Faculty of Actuaries for providing the venue for this event and our event sponsor Emerald Group.

18:00 – 18:30 Registration

18:30 – 18:35 Welcome & Introduction

Susan Yang, General Secretary of CANUK

18:35 – 18:50 Opening Speech

Feifei Zhang, President of CANUK

18:50 – 19:10 Keynote Speech

Nick Salter, President of the Institute and Faculty of Actuaries

19:10 – 19:45 Expert Judgement

Joseph Lo, Head of Actuarial Research and Development at Aspen Re

19:45 – 20:00 Q&A and Closing Remark

Susan Yang, General Secretary of CANUK

20:00 – 21:00 Networking (with food and drinks)

Registration: Please register online at http://www.chineseactuary.org/index.php/events

Location

The effects of global ageing will be transformative and the need for societies to adapt is well understood, but are policy and business leaders acting quickly enough?

This Chatham House Ageing and Health conference assesses the global response to the challenges facing ageing societies as the time for forward-thinking solutions ticks away. Innovative ideas are needed now to meet the health and economic burden and build prosperity in an ageing world.

Register now for policy perspectives from developed economies, low- and middle-income countries, and expert insights from health, medical and economic professionals.

For help with your registration contact conferences@chathamhouse.org or phone +44 (0)20 7314 2782.

Location

This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Life, GI or any other technical discipline).

Come along prepared to take part and say what you think!

Why is professional skills training important?

What is whistleblowing?  What are your professional responsibilities when something “does not smell right”?  Where should you go for advice and support?

What sorts of situations can arise in practice?  We will watch and discuss some of the recently developed video case studies. Come and prepare to be challenged – these everyday situations may have a sting in the tail.

This session will qualify for one hour of Professional Skills CPD, as required by some members under the IFoA’s CPD Scheme 2014/2015.

If you book a place and then find yourself unable to attend a professional skills event, please inform the events team to avoid preventing others who wish to attend being able to do so.  These events often have a waiting list.

Event Timings:

08:15 – 08:30 : Registration

08:30 – 09:30 : Presentation

Speaker:

Neil Hilary (member of the Professionalism Content Development Working Group)

Location

15.30 - Registration

16.00 - Speech by SAS Vice-President - The year in review

16.10 - Cyber risk / big data (Speaker tbc)

16.40 - Risk management of emerging epidemics - Dr. Gordon Woo (RMS)

17.10 - Coffee break

17.30 - Leadership in the Actuarial world (official title tbc by 3/2/15) - Mr. Thomas Chalmers & Mr. Russell Borland (Leading Figures)

18.30 - Prize giving for best question asked by Scottish Board

18.40 - Closing speech by SAS president

18.50 - Close

Location

The Life CPD committee are offering a new CPD event which will include the opportunity to:

• Hear industry speakers on the challenges of the protection market
• Improve understanding of  the market and todays consumer
• Learn lessons from the past
• Ask questions and maybe find solutions to latest issues.

Who should attend?

• Practitioners in protection from both life and health practice areas
• Actuaries working in product development, management and marketing.

Programme timings:

Registration: 09.00 - 09.30

Programme: 09.30 - 17.00

Brochure attachment: 

Final Marketing programme2.pdf

Location

This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Life, GI or any other technical discipline).

Come along prepared to take part and say what you think!

Why is professional skills training important?

What is whistleblowing?  What are your professional responsibilities when something “does not smell right”?  Where should you go for advice and support?

What sorts of situations can arise in practice?  We will watch and discuss some of the recently developed video case studies. Come and prepare to be challenged – these everyday situations may have a sting in the tail.

This session will qualify for one hour of Professional Skills CPD, as required by some members under the IFoA’s CPD Scheme 2014/2015.

If you book a place and then find yourself unable to attend a professional skills event, please inform the events team to avoid preventing others who wish to attend being able to do so.  These events often have a waiting list.

Event Timings:

08:15 – 08:30 : Registration

08:30 – 09:30 : Presentation

Speakers:

Malcolm Lee and Neil Hilary (members of the Professionalism Content Development Working Group)

Location

Multivariate response data abound in many applications including insurance, risk management, finance, health and environmental sciences. Data from these application areas have different dependence structures including features such as tail dependence (dependence among extreme values) or negative dependence. Modelling dependence among multivariate outcomes is an interesting problem in statistical science. The dependence between random variables is completely described by their multivariate distribution. One may create multivariate distributions based on particular assumptions thus, limiting their use. For example, most existing multivariate distributions assume margins of the same form (e.g., Gaussian, Poisson, etc.) or limited dependence (e.g., tail independence, positive dependence, etc.). To solve this problem, copula functions (multivariate  distributions with uniform margins on the unit interval) seem to be a promising solution. The power of copulas for dependence modelling is due to the dependence structure being considered separate from the univariate margins. Copulas are a useful way to model multivariate data as they account for the dependence structure and provide a flexible representation of the multivariate distribution. They allow for flexible dependence modelling, different from assuming simple linear correlation structures and normality, which makes them well suited to the aforementioned application areas. In particular, the theory and application of copulas have become important in finance, insurance and other areas, in order to deal with dependence in the joint tails. 

Please follow the link below for a programme of the course:

https://www.uea.ac.uk/computing/dependence-modelling-using-multivariate-copulas-with-applications-2014-15 

Location

Speakers : Nick Dexter - Senior Advisor, Prudential Regulation Authority

                 Sandy Reid - Group ERM Integration Manager, Standard Life

                 James Crispin - Aegon UK plc.

At this session you will have the opportunity to listen to, and interact with, leading actuaries in the field of recovery and resolution planning, with a presentation by members of Nick Dexter's working group.

Resolution planning is becoming an important extension of stress testing with its own PRA Fundamental Rule. However, it is not just an actuarial topic, so this is a great chance for actuaries to involve their colleagues in their work. The session will involve the presentation of a draft framework for developing a resolution plan, and will invite the audience to share their experiences both in this area and in dealing with crisis situations more generally.

Who will this be of interest to?

This session will be of interest to any actuary involved in stress testing or senior management (given it is becoming more common for regulators to want to understand the impact of significant transactions or restructuring in creating or increasing barriers to resolution)

If you would like to attaned this event event please contact Tess Joyce

Location

Why attend?

Removing risk and progressing towards the end of a pension scheme’s journey can be a technical and time-consuming business for companies and scheme trustees. On occasion, the end of the pension scheme can be outside of the trustees’ control and entry to the Pension Protection Fund becomes inevitable. In any case, as pensions actuaries, our clients and/or employers look to us for guidance.

This seminar will present a variety of views from industry experts on the end game, looking at past experience through case studies and considering possible future developments.

The programme will include the following sessions:

 • Corporate perspective on current de-risking strategies

 • Traditional buy-in versus sustainable run off

 • Insurer’s views on post-budget landscape

 • Liability driven investment

 Who should attend?

 This seminar will be relevant for all actuaries in the pensions industry.

 You can book your place now.

Brochure attachment: 

Updated programme 07.01.pdf

Location

Yorkshire Actuarial Society - "Joint Forum on Actuarial Regulation: A Risk Perspective" and a new framework for Technical Actuarial Standards - An FRC presentation

Speaker - FRC

Venue - Deloitte, 1 City Square, Leeds, LS1 2AL

To gather feedback on their recently published consultations "Joint Forum on Actuarial Regulation: A Risk Perspective" and a new framework for Technical Actuarial Standards (TAS's) the FRC will present explaining the background to the consultations, with break-out table discussions on risks where actuarial work is relevant followed by discussions and a question and answer session on the new framework for Technical Actuarial Standards.

Background:

The Joint Forum on Actuarial Regulation ("JFAR") was established in 2013 by the Financial Reporting Council, the Institute and Faculty of Actuaries, the Financial Conduct Authority, the Pensions Regulator and the Prudential Regulation Authority. The JFAR is a unique collaboration between regulators to co-ordinate, within the context of its members' objectives, the identification of and response to public interest risks to which actuarial work is relevant.

The FRC, with support of its JFAR partners has published "Joint Forum on Actuarial Regulation: A Risk perspective" to seek wider input at this preliminary stage on the JFAR's analysis.

The FRC has also recently published a consultation on a new framework for Technical Actuarial Standards (TASs). The proposals in the consultation include:

• The introduction of a new FRC actuarial standard (Technical Actuarial Standard 100: Principles for Actuarial Work "TAS 100") which includes high-level principles applicable to all actuarial work - TAS 100 will in time replace the FRC's Generic TASs and it is proposed that TAS 100 would come in to effect from 1 January 2016; and
• A review of the scope and content of the FRC's Specific TASs which will take account of feedback on the Risk perspective.

The closing dates for the Risk Perspective consultation is 20 February 2015 and the closing date for the Framework consultation is 8 March 2015

If you would like to attend this event please contact Malcolm Slee – malcolm.slee@aviva.co.uk

Location

Nearly a year on from the 2014 budget announcement, three Towers Watson consultants share their experience of the impact on DB schemes with particular focus on members' options.

Speakers - Stephen Yates, Andrew Hornell and Stuart Cook from Towers Watson

Timings

08.30 - Registration and refreshments

09.00 - Programme

10.00 - Close of event

Location

Birmingham Actuarial Society are delighted to have Natasha and Robert joining them from the FRC to present and gather feedback on their recently published consultations

• Joint Forum on Actuarial regulations: A Risk Perspective

• A New Framework for Technical Actuarial Standards (TASs)

The session will explain the background to the consultation, with break-out table discussions on where risk is relevant to actuarial work, followed by discussion and Q&A on the new framework for Technical Actuarial Standards. This will be an excellent opportunity to reflect on the standards expected of IFoA members and to help shape the future regulatory framework. Non-Aviva employees: Please contact Dave Storman in advance to arrange access to Aviva's offices

Event Timings

17.00 - Registration

17.30-19.00 - Programme

Location

Norwich Actuarial Society are delighted to have Natasha and Robert joining them from the FRC to present and gather feedback on their recently published consultations

• Joint Forum on Actuarial regulations: A Risk Perspective
• A New Framework for Technical Actuarial Standards (TASs)

The session will explain the background to the consultation, with break-out table discussions on where risk is relevant to actuarial work, followed by discussion and Q&A on the new framework for Technical Actuarial Standards.

This will be an excellent opportunity to reflect on the standards expected of IFoA members and to help shape the future regulatory framework.

Non-Aviva employees: Please contact Dave Storman in advance to arrange access to Aviva's offices

Location

Bristol Actuarial Society are delighted to have Natasha and Robert joining them from the FRC to present and gather feedback on their recently published consultations

• Joint Forum on Actuarial regulations: A Risk Perspective
• A New Framework for Technical Actuarial Standards (TASs)

The session will explain the background to the consultation, with break-out table discussions on where risk is relevant to actuarial work, followed by discussion and Q&A on the new framework for Technical Actuarial Standards.

This will be an excellent opportunity to reflect on the standards expected of IFoA members and to help shape the future regulatory framework.