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Risk management – AI Ethics Working Party – members

Application closing date: 8 December

The IFoA’s Risk Management Research and Thought Leadership Committee is seeking expressions of interest to join this working party. We welcome applications from lay members (non IFoA members).

Background

Ethics is the main area of concern for the public facing decisions made by AI-driven models. This issue needs a high level of focus and skills that actuaries can provide.

AI models and tools are increasingly being used to shape (and sometimes take) decisions. Several issues arise relating to potential biases and (lack of) accountability.

Actuaries are increasingly making use of (and in some cases creating) AI tools and we face a range of ethical issues in doing so.

The IFoA AI Ethics Working Party is exploring this topic including a focus on themes such as:

  1. How actuaries can contribute to AI governance and risk management across organisations, leveraging their expertise in model risk management and thinking about the end customer outcomes.
  2. The ethical considerations of actuaries involved in risk management using AI analysis of unstructured data.
  3. Ownership of AI risks and models – is there a need for a named person (or role, like Chief Actuary) to be accountable for AI models and how they are used?

The working party is seeking members who can help evolve our thinking on themes that merit attention as well as supporting activities such as:

  • inputting to IFoA regulation and guidance relating to the use of AI by actuaries
  • case studies to feed into professional training and other guidance
  • inputting to policy work by UK and international organisations relating to ethics of AI (and use by actuaries)
  • identifying and facilitating training and other professional development opportunities for actuaries on the theme of AI ethics

Experience

Some experience of the use of AI would be useful, or at least some background knowledge and a willingness to grow knowledge and experience in this space.

Some knowledge and awareness of actuarial work that might involve AI is essential, but working party members do not need to be qualified actuaries.

Time commitment

The time commitment is around half a day per month, made up of regular meetings of the working party and contributing to research in between. Some key stages are busier than others. At these times the commitment involves a concentrated effort, such as drafting reports and preparing presentations.

Meetings will be held by conference call or video conference to allow us to widen this opportunity to all. There is no requirement to meet in person.

Next steps

If you are interested in this role but would like an informal conversation before applying, please email us at engagement.team@actuaries.org.uk.

If you have read all the above and would like to apply, please send us:

  • brief details of your relevant experience
  • your reasons for wishing to get involved
  • your ARN (if you are a member)
  • a brief copy of your CV and full contact details (if you are a non-member)
  • confirmation that you have read, understood, and agree to the information and requirements laid out in our volunteer information pack (please be aware that until we have received this confirmation, we will not be able to appoint you as a volunteer)

Please email all the above to engagement.team@actuaries.org.uk. Please note, we are unable to accept late applications.

We are committed to promoting diversity, equality of opportunity, and inclusion, within all our vacancies and we actively encourage applications from a diverse range of potential candidates. Recognising and embracing the unique and diverse talents of our volunteers is fundamental to the success of our organisation.

What you need to know

Volunteering provides you with a wide range of opportunities. With all rights and opportunities come responsibilities and we ask all our volunteers to comply with the terms of the IFoA’s governance manual and volunteer information pack. Before offering to provide support, please read through: what you need to know.