The actuarial profession is evolving. And not just in response to regulations or emerging risks, but also in how it defines fairness, inclusion, and professional responsibility. In a time where sustainability and social impact are front of mind, the Institute and Faculty of Actuaries (IFoA) is updating the Actuaries’ Code to better reflect Diversity, Equity and Inclusion (DEI).
So what does this mean for Actuaries? Employers?
A code for the future
In 2023, the IFoA launched a consultation to explore how DEI should be represented in the Actuaries’ Code. A second consultation in early 2024 looked at how these changes might work in practice.
There was strong support for values like respect, belonging, fairness, and representation. But there was less agreement on how far the Code should go, and how explicitly DEI should be built into professional obligations.
The result? A balanced approach
What’s Changing and Why it Matters
The IFoA has decided not to introduce a requirement for actuaries to “encourage DEI” directly. Instead, it will revise the existing Code guidance to reflect DEI principles in a more practical, supportive way.
This gives space for members to apply these ideas in context, while still holding to the profession’s commitment to fairness and inclusion.
For actuaries, this signals a cultural shift. DEI may not be a mandated duty, but it’s becoming a key part of how professional integrity is understood. It will increasingly influence how teams operate, how clients are advised, and how career choices are made.
For employers, this is a timely reminder to check in with their culture. Are your teams welcoming and inclusive? Are your recruitment practices aligned with the direction the profession is heading?
A More Inclusive Profession Starts Here
Across the actuarial space, we’re seeing greater awareness of how values shape decisions—especially when it comes to careers. That’s particularly true in fields like sustainability, ESG, and data ethics, where purpose often guides professional paths.
At Vocara Careers, we stay close to these shifts. Our focus is on the long-term evolution of the profession, and what that means for the people and organisations shaping its future.
Looking Ahead
Webinars this spring will help actuaries understand the changes and how to apply them.
We’ll be keeping a close eye on developments. Because building a more inclusive profession isn’t just about codes and policies, it’s about how we work, lead, and grow together.
