Dr Patrick Sun Cheong Poon, lead sponsor of the IFoA’s 2021 Thought Leadership Programme, will be discussing his motivation for supporting the new events programme with Immediate Past President Tan Suee Chieh. The IFoA’s Thought Leadership Programme seeks to reposition the IFoA at the centre of key societal debates, providing a forum and voice for actuaries to address the social and strategic issues confronting the profession. Dr Poon will share his views on the value of thought leadership and why the IFoA’s Thought Leadership Programme is so important for the future development of the profession. Dr Poon is also a generous supporter of the IFoA Foundation, the independent charitable arm of the IFoA, which aims to establish a fund in Greater China and South-East Asia to provide bursaries for actuarial students at eligible IFoA-accredited universities. Dr Poon will reflect on what he aims to deliver through his philanthropic partnership with the IFoA so that the Foundation can achieve its goal of ‘Actuaries supporting others’. He will be joined by Kartina Tahir-Thomson, IFoA Foundation Chair.
The Power of Pensions: how can pensions change the future? The pandemic and climate crisis have shone a light on the way society’s negative impacts – for example, carbon emissions, biodiversity loss and poor governance – pose systemic risks to the broader economy. Equally, adapting to the transition towards more sustainable economies, and identifying and creating positive impacts, offers financial opportunity. In this talk, Sarah Gordon (Chief Executive Officer of the Impact Investing Institute and former business editor of the Financial Times) will make the case for why pension funds should be looking to invest sustainably and with impact. Referring to the Institute’s work on pension trustee fiduciary duty, she will ‘bust’ some of the myths that perpetuate around impact investing for pension funds, and talk about how considering impact can be a way of managing risks and identifying opportunities. Using the Institute’s Impact Investing Principles for Pensions, she will explain how pensions can adopt a ‘transitional mindset’ and pursue an impact investing strategy.
Sir Adrian Smith will outline how advances in data science, machine learning and artificial intelligence in the world of big data will transform the nature of many industries, including financial services. The broader environment within which mathematics is applied will change rapidly, often led by innovative yet disruptive forces outside. These changes will undoubtedly have an impact on the work of actuaries - and the profession will need to adapt quickly to thrive. Actuaries are well-placed to consider the long-term implications of a world in which data technology informs not just traditional actuarial sectors of insurance, pensions, risk, investment and healthcare, but also to drive policy decisions to address broader societal challenges. Sir Adrian will encourage the profession to step out of its traditional areas of strength, with a more ambitious mindset, to take advantage of the opportunities that these sweeping changes will provide. This is not just about embracing the skill sets which are required in the digital world; a whole new mindset and reinvention are necessary. There is also a heightened need for leadership to identify and develop the appropriate talent for new, emerging roles. Given the IFoA’s public interest perspective, the debate is not just about innovation in data technology but must include fostering trust in data through good ethical practice. Sir Adrian will also speak to the profession’s responsibilities in the ethical implementation of data science and the need for new standards, regulation and transparency to protect society in this new world. John Taylor and Marjorie Ngwenya will join the session as panellists. John will focus on the links between data science, AI and the IFoA's Great Risk Transfer work, and Marjorie will debate how the profession ensures that existing and new technologies work to the benefit and purpose of people.
The final panel event of the Presidential Speaker Series - The Cultural Transformation of the Profession - will see senior actuaries involved with the profession (both pre and post-merger) discuss the evolution of the IFoA and the actuarial community. Former IFoA President and chair of the session, Jane Curtis will be joined by fellow past Presidents Ronnie Bowie, Paul Thornton and immediate Past President Tan Suee Chieh, as well as Sally Bridgeland, the first management Board Chair post-merger. They will reflect on the progress the profession has made in the last few years, the drivers for change in the years ahead and the steps actuaries will need take in order to remain relevant and influential. Drawing on their extensive experience and vast contributions to the profession over the last few decades, the panel will debate why actuaries need to adapt and move into wider areas - and how the IFoA’s VSMD strategy can support this reinvention. Panel: Jane Curtis, Paul Thornton, Tan Suee Chieh, Sally Bridgeland and Ronnie Bowie