More major changes at the IFoA that weren’t on Council’s radar last year – Council being sidelined

Further to my previous post on this, the IFoA’s November 2020 Council minutes finally came out in early/mid April. I note further very significant changes that Council members were unaware of in early September: replacing 4 IFoA’s Corporate Boards (the Lifelong Learning Board, the Markets Development Board, the Policy & Public Affairs Board, and the Research & Thought Leadership Board).

The replacement of those 4 Corporate Boards by two subcommittees of Management Board, and the replacement of Regulation Board (+ Disciplinary Board) by a new Regulatory Board means all 5 existing corporate boards are being replaced. That is a major change in governance.

Planning for this must have been going on *in secret* (hidden from Council members not on Management Board) for most of 2020, until partially revealed (change to Regulation Board) in Sep 2020, and these further changes in Nov 2020. Were any more major changes revealed at the March 2021 meeting?? Members will have to wait until the March minutes are published – which might not be until August 2021 at the current rate of publication.

If I were still on Council (and anyone currently on Council, or elected to Council this June can also ask this) I would be asking for details of who knew and who made the decisions to keep all these plans for major changes away from Council. Questions should also be asked at the AGM.

One thought on “More major changes at the IFoA that weren’t on Council’s radar last year – Council being sidelined

  1. Correction 9 May 2021: it has come to my attention that this was touched on in item 10 of the June 2020 Council meeting, and that this is referred to in the notes of that meeting (which I didn’t see as those were part of the papers for the September meeting).
    My own contemporaneous notes of the June meeting indicate that very little time was devoted to this (one of the final items on the agenda) and that it was not signposted at that meeting as imminent major significant changes.

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