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Wen Li FIA Lead Representative in Asia

The Institute and Faculty of Actuaries. Wen Li FIA Lead Representative in Asia. About the IFoA. The Institute of Actuaries was formed in 1848 in London and the Faculty of Actuaries was formed in 1856 in Scotland, both under Royal Charter

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Wen Li FIA Lead Representative in Asia

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  1. The Institute and Faculty of Actuaries Wen Li FIA Lead Representative in Asia

  2. About the IFoA • The Institute of Actuaries was formed in 1848 in London and the Faculty of Actuaries was formed in 1856 in Scotland, both under Royal Charter • The Institute and Faculty of Actuaries merged to become one on 1 August 2010 • The Institute and Faculty of Actuaries (IFoA) is the UK's only chartered professional body dedicated to educating, developing and regulating actuaries based both in the UK and internationally

  3. Our logo explained • The armorial bearings are based on a shield bearing a wavy line to reflect on the mathematical curves used by actuaries in their analysis and understanding of future financial out turns • The hour glasses depict the sands of time and are an allusion to the study by actuaries of the impact of uncertainties on future events • The shield is supported by two owls which represent wisdom • The ground is strewn with English roses and Scottish thistles in reference to the former London and Edinburgh-based professional bodies • The armorial bearings are topped with a woolsack (again with the mathematically wavy line), which is a recall of the trade in wool at Staple Inn, where the profession has its headquarters.

  4. At a glance • Over 24,000 members • Over 12,000 are fully qualified actuaries (around 60 in China) • Over 41% of members are based outside the UK • 48% of members are students • 70% of members are under 40 years old • Our webinars have attracted 2,804 delegates over 330 registered sites • Over 13,000 fans on Facebook • Over 600 fans on Weibo

  5. 5 Year Strategy • Education • Regulation • Member Support • Public Affairs • Learned Society and Thought Leadership • International

  6. Education • Routes to fellowship: - ERM - Life - General Insurance - Health and care - Pensions - Investment - Finance

  7. Education • Routes to qualifying: - passing 15 subjects with required work base skills - Exams are application based rather than bookwork - In the early days most students qualified while working - Since “Morris Review”, high quality universities around the world are accredited with exemptions from the IFoA

  8. President’s comments Extracts from the President’s comments: The IFoA is an international organisation with members spread far and wide, and a professional heritage that dates back over 160 years. With all that talent and experience, and our commitment to working in the public interest, we can help our members and our stakeholders grapple with many of the key issues that are relevant as the world changes. Most of all, I want our members and volunteers to be proud to be associated with the IFoA.

  9. Our vision We will serve the public interest by ensuring that where there is uncertainty of future financial outcomes, actuaries are trusted and sort after for their valued analysis and authority.

  10. Thank you. Questions? Comments?

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