I went to a disturbing presentation created by the IFoA with regards to professionalism yesterday. I was informed the IFOA was regulated by the FRC. No mention was made that they are not regulated at all but rather overseen in a private capacity with limited remit. It was also not mentioned that the FRC was being closed down due to a government scandal and they’re of ill repute. I was then shown several videos attempting to brainwash me into conforming with the IFoA’s questionable ethics and values. The videos were about a scheme actuary. In the UK the legal requirement to be an actuary is limited to a handful of roles. These jobs are few and far between. Most people will never have a chance to even apply. For a vast majority of actuarial roles, this level of “professionalism” is not required and hinders the development of actuaries to such an extent that data scientists, CFAs and “unqualified” individuals are doing the same roles without this administrative burden. There are now 17 exams. What for?
