Some issues the Institute and Faculty of Actuaries ought to clarify for anyone considering standing for election to its Council
Patrick John Lee
Setting up a new actuarial organisation and a student union for IFoA students. Software Architect, Data Scientist, Actuary.
This is a follow up to my previous post on this (https://www.dhirubhai.net/pulse/questions-institute-faculty-actuaries-doesnt-want-anyone-lee), to provide a bit more detail and to answer some questions that I have been asked.
Allegations of online exam cheating rings operating again
The allegations (made on the Reddit r/actuaryUK group, see https://www.reddit.com/r/ActuaryUK/comments/u6kx25/open_help_call_the_guy_asking_for_the_paper_early/) are that because the IFoA, instead of only holding a single sitting of each exam paper, apparently holds 3 or 4 staggered sttings of the same paper (e.g. starting at 0800 BST, then 0830 BST, then 0900 BST), some students sitting earlier time slots are sending a copy of the paper to students sitting a later time slot, who thus can have up to 30 or 60 minutes advance knowledge of the questions.
Something similar happened in 2020 and the IFoA apparently disciplined hundreds of students (banning them from taking IFoA exams for periods ranging from 3 to 24 months). This was under what it calls its Assessment Regulations violations process which unlike its Disciplinary Scheme process has no transparency. No statistics seem to be published, so students, employers and Council members -let alone other IFoA members- alike are in the dark as to what proportion of students were alleged to have cheated, how many were judged to have no case to answer, and how many were found to have violated the rules, and if so in what way, and what was the sanction.
It is also alleged that the IFoA did not discipline one or more of the alleged ringleaders of the cheating rings in 2020, despite this person (or persons) being not only an IFoA member but an actuarial tutor, a member of its 400 Club (a group of volunteers for the IFoA to sound out for their views/feedback) and an IFoA careers ambassador.
Things that seem wrong to me include:
The IFoA has had 2 years to sort out its online exam system yet it seems to be behaving like a rabbit caught in headlights, refusing to budge or to acknowledge any problems. (Alleged plagiarism is another problem which has worried many students, since they have been forced to cope with often confusing changes in guidance as to how to answer bookwork/definition questions. A lot of this seems silly because definitions/legislation are meant to be quoted accurately and in real life this is often looked up. So forcing students to change sensible wording into wording that still conveys the meaning without risking falling foul of anti-plagiarism software seems over the top. As I've said previously on discussion forums, I think the IFoA should either improve its questions - make them less of a memory test - or allow definitions/bookwork to be copied (as they are often in real life into actuarial reports), or have online proctoring of its exams - as indeed the Indian Institute of Actuaries apparently do, and I can attest that Microsoft does this for its professional exams.
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What has happened to the 2020 member satisfaction survey?
For a membership organisation to ask members for feedback but then to hide the results is pretty damning. The IFoA hopes that this mystery will just go away/be forgotten about. Why? What is it hiding?
How much has funding its senior lawyers' defences against allegations of professional misconduct cost already and how much more is likely to be needed?
How many complaints (about itself or its staff) has the IFoA received in recent years/what were the outcomes/what is the trend?
What are the prospects for success in the various court cases the IFoA is involved in?
The above are again problems which are linked to and exacerbated by the IFoA's lack of transparency.
Without answers to these and disclosure of any other problems, it seems wrong of the IFoA to expect members to take on the responsibility of standing for its Council. Would a company really expect individuals to join its Board (the analogy the IFoA itself makes on its website for prospective candidates) while keeping them in the dark about significant matters?
Unless the IFoA's problems are being much exaggerated, becoming a Council member could be a bit of a poisoned chalice.