Benefits of Volunteering

The list below includes some examples of the benefits from volunteering (the list is not exhaustive!). As an active volunteer with the Society, you will have the chance of:

• being involved  in thought leadership 
• influencing research and public policy
• developing skills, both personal and professional such as strategic thinking , leadership and communication skills
• learning and keeping up to date with new developments.
• networking with other actuaries
• raising your profile within and outside the Actuarial profession
• gaining a wider perspective of work outside your own specialist area
• shaping actuaries and the Actuarial profession of the future
• counting volunteer work towards CPD hours

As active volunteers with the Society, your employees will have the chance to:

• Develop skills, both personal and professional such as strategic thinking, leadership and communication skills
• Raise their profile and the profile of the company they work for
• Be involved in the cutting edge of change
• Network with other actuaries
• Gain a wider perspective of work outside their own specialist area
• Share ideas and collaborate with other professionals
• Work alongside industry experts

Members may count volunteering activities as CPD, if and to the extent that the activities contribute to the knowledge, skills and professionalism required for the actuary’s role, or more generally to the member’s technical or professional development.

Services to the Society

The work carried out, by members, in working parties and at committee meetings helps develop and broaden skills and may be counted towards CPD. This is of course dependent on your attendance at meetings. An overall maximum of 15 hours can be claimed as verifiable CPD for Services to the Society. 

Research & Private Study

In undertaking any reading or study connected to volunteer work e.g. participating in the Current Topics paper, you may be able to record private study under the Society's CPD Scheme. Please note, it will be up to you as an individual member to assess the amount of time you have spent, to maintain your own CPD records, and to record the learning outcome achieved from the private study.

For more information, please consult the Society's CPD Scheme.

What is a Committee?

Committees are formed to support actuaries working in different practice areas and to deliver on the Society’s goals in expanding the skills and reputation of actuaries. Some examples of active Committees are the Life, General, Pensions, Healthcare, ERM, Finance & Investment and Demography Committees. Each committee contributes to supporting the overall goals of the Society by supporting the members within its practice area. This is achieved through organising relevant and topical CPD events, contributing to the development of the regulatory framework, championing the development of knowledge and research and, where relevant, developing and maintaining the actuarial standards that are specific to their practice area. Most Committees meet every four to six weeks from September to July.

What is a Working Party?

Working parties are formed for a limited period of time to carry out a specific piece of work or research that has been endorsed by Council. Working parties can vary in their duration and time commitments.

Where and when do Committees and Working Parties meet?

Committees and Working Parties meet at the Society’s offices at Clanwilliam House, Clanwilliam Place, Dublin 2 (see https://web.actuaries.ie/contact). Meetings typically start at either 8:00 or 8:30 in the morning or at 12:30, depending on the overall preference of the committee or working party. Some groups choose to vary their meetings times.

What is a Practice Area Presenter?

The Society runs a number of courses throughout the year for students and newly qualified actuaries for which we require “guest speakers” to present on their area of work. The purpose of these presentations is to give course participants a flavour of working in different areas, both traditional and emerging or alternative, the topical issues actuaries may face in such work and to perhaps hear at first hand some personal career experiences, insights and tips from the speaker. Ideally a Practice Area Presenter should be qualified at least five years.

What is a Case Study Facilitator?

The Society runs a number of courses throughout the year for students and newly qualified actuaries where we require experienced actuaries to facilitate discussion on case studies in informal groups. Case Studies, together with potential discussion points, are provided by the Society and are based on a variety of professional and ethical dilemmas. Ideally a Case Study Facilitator should be qualified at least five years.

What is Professional Skills Training?

Professional Skills Training is described well in the Institute and Faculty of Actuaries Professionalism Skills Training Handbook Version 2 as training that 'is designed to equip actuaries to mitigate risks by taking appropriate steps in reaching decisions in situations where complex ethical judgements are required.

Professional Skills Training should achieve one or more of the following:

• enhance understanding of an actuary’s professional obligations;
• enhance understanding of principles of ethical behaviour and how to apply these in making professional judgements; enhance understanding of what it means to act in the public interest;
• equip actuaries to make reasoned and justifiable decisions in resolving ethical dilemmas;
• assist actuaries to demonstrate ethical behaviour in conducting their professional life;
• and enable actuaries to recognise ethical dilemmas and take appropriate action.