Former president of the Actuaries Institute Fred Rowley has been elected president of the International Actuarial Association (IAA) and will take up office as president-elect from 1 January 2014.
Mr Rowley is the second Australian to ever be elected for the position and is expected to take up official presidency in 2015. He will be responsible for leading the global direction of the actuarial profession and promoting its role and reputation.
The election took place on 13 October 2013 in Singapore with the IAA’s 64 full-member associations that span across 82 countries.
Mr Rowley is currently chief actuary at TAL Life in Sydney and has been a member of the Actuaries Institute for more than 15 years.
Current president of the Australian Actuaries Institute John Newman said Mr Rowley had done his utmost to advance the actuarial profession across the board and that his election as president of IAA demonstrates this.
“On behalf of the Actuaries Institute, I would like to congratulate Fred on this outstanding achievement and for his significant contributions to the profession both in Australia and on the global stage,” Mr Newman said.
During his career Mr Rowley was awarded honorary fellowship of the Faculty of Actuaries in Scotland in 2009 and Society of Actuaries (SOA) Presidential Award and was named Australian Actuary of the Year.
Mr Rowley said the financial world is continuing to evolve rapidly and the momentum towards common standards for risk and capital management, as well as for financial reporting, is accelerating.
"As president-elect, one of my key goals for the year ahead will be to ensure the actuarial profession is fully engaged with the right bodies around the world, and that its role and contribution are fully recognised in the international domain,” said Mr Rowley.