Elected annually by Voting Members, the 12-person Council is the Actuaries Institute's peak executive body. As outlined in the Constitution, the Council is primarily responsible for:
- Leadership – setting and implementing strategic plans and operational policies.
- Governance – ensuring compliance with legislation and regulations and that the Institute meets high standards of probity and transparency, is well managed and has an effective risk management policy.
- Stewardship – protecting the reputation of the Institute and the actuarial profession by maintaining and enforcing strict professional and ethical standards.
The Presidential Committee comprises the President, Senior Vice President and Vice President. The Presidential Committee exercises the powers of the Council between Council meetings and is directly accountable to Council.
The President is the leader and spokesperson for the Actuaries Institute and the actuarial profession in Australia. The President receives administrative support from Institute HQ.
The Senior Vice President and Vice President share the President’s workload and may substitute for the President when required. The Senior Vice President and Vice President take active roles on Council Committees and sub-committees/taskforces.
Each position is held for one year on a rotational basis. At the final Council meeting of each year, Council elects a new Vice President. The new Vice President takes office from 1 January the following year, moves into the position of Senior Vice President the year after and then becomes President in their third year. This succession plan ensures the Senior Vice President and Vice President are fully prepared for their Presidential year. Members of the Presidential Committee are also expected to attend and complete the Company Directors Course conducted by the Australian Institute of Company Directors.