Becoming a Board Member

Actuaries contribute enthusiastically to their profession through a range of activities and one very important role is that of a Board member.

Becoming a member of the Board can be a challenging and rewarding experience. Appointment to the Board is for a period of three years, except for casual vacancy and Board members are expected to:

  • attend and take an active part in a minimum of 80% of Board meetings;
  • attend an all-day planning/strategy session;
  • be available for between-meeting teleconferences;
  • read and understand the contents of the Director’s Compendium (provided during induction of new Board members);
  • remain briefed on internal and external risk environments and identify ‘trouble spots’ in the annual statement of audit and take action as necessary; and
  • observe the highest standards of ethical behaviour.

Board members are also encouraged to attend the Institute’s many events, including graduation dinners and the Annual General Meeting and may be asked to serve or act as liaison on a Board Committee.

Board elections are held annually and only Voting Members (Fellows) are eligible to be members of the Board.

The nomination process

Each nominee must:

  • complete a nomination form which must be signed by three Voting Members;
  • complete a nominee details form;
  • provide a professional headshot (JPEG format);
  • complete a nominee’s statement outlining their reasons for standing for election and objectives if elected (optional but highly encouraged); and
  • complete a probity declaration.

The Returning Officer confirms the nominations and if there are more candidates than required to fill the number of expected vacancies a Board election will be held, with voting opening approximately one week following the close of nominations.

Nominations BOARD Committee

Occasionally the Nominations Board Committee may approach Members about joining the Board. The role of the Committee is to encourage interest within the membership in being a Board member and to ensure a sufficient number and variety of candidates stand for the annual election.

Casual vacancies

Casual vacancies may arise following the resignation of a Board member. The Board may appoint any Voting Member (Fellow) as a member of the Board to fill a casual vacancy, however the appointee completes the term of the casual vacancy only (being deemed to have been elected on the same date as the member of the Board they replace). Should the appointed member serve less than two years in a casual vacancy position, they are eligible for immediate re-election following the end of their casual term.

Want to know more?

For more information about becoming a a Board member, read Leading Your Profession or contact Company Secretary Glyn Thomas.