Sustainability Actuary of the Year 2023
Sponsored by Star Actuarial Futures
It’s a privilege to again sponsor the Actuarial Post Stars of the Future Awards.
The awards recognise and highlight the impact and achievements of rising talent in our industry. Future leaders who are already making their mark on the actuarial profession.
Star Actuarial Futures started sponsoring this award 9 years ago, and it’s not an understatement to say that the profession has changed significantly in that time.
The global Covid pandemic has changed the working world in a way that nobody would have predicted. Many of us now work in a virtual workplace, where face to face meetings and interviews have been replaced by video calls, and handshakes replaced with a chorus of “you’re on mute”…
…Actuaries are now able to consider working for firms that previously would have been too far for a daily commute, and both employers and employees have access to a wider range of options – particularly beneficial to firms in ‘the regions’. Most firms have embraced the hybrid model, split between remote and office based, which is a popular option for many. Whether we’ll see a gradual return to full time in the office, only time will tell, but with demand for actuarial talent outweighing supply, employees currently have the luxury of choosing a role that fits their personal preferences.
The most positive impact of the pandemic was the reminder that as a profession we are able to adapt, and must continue to do so as workforce and economic demands change.
The regulatory landscape has changed too, and continues to keep everyone on their toes. Solvency 2 made way for IFRS17, and will no doubt be replaced yet again by Solvency UK as the chief cause of headaches in the insurance sector. We are seeing a surge of interest in ESG, both the sustainability kind and the modelling type, with climate change positioning itself high on the corporate agenda. Regulation in this area is surely an inevitability and will lead to even more job creation and opportunity for actuaries, who possess a unique set of skills to help address these challenges.
Much attention is being given to the technology used within the actuarial world, with firms investing in upgrading their systems to take advantage of modern capabilities. Boundaries between actuarial and data science have blurred, and the value of effective data analysis has never been in such high demand. As for what AI means for the future of the actuarial profession, only time will tell…
Star Actuarial Futures remains committed to serving the profession and supporting our clients and candidates as they shape and create the future. We continue to see excellent opportunities being created for contract and permanent resource across all sectors, and it’s exciting to hear and see how passionately actuaries, especially our Stars of the Future, feel about many of these topics.
If you need any help with your recruitment plans, whether looking to change roles yourself, or growing a forward thinking team, please do get in touch with the Star Actuarial team. No-one else in the market can rival our industry knowledge – we have 5 qualified actuaries in our team, and we collectively have over 230 years of actuarial recruitment experience – so whether you’re looking for career advice or action, make us your first contact.
Richard Foulds, Associate Director