The Financial Reporting Council (FRC), the UK’s independent regulator responsible for promoting confidence in corporate reporting and governance, today announced that Louise Pryor has been appointed Director, Actuarial Standards.
As Director, Louise will join the Board for Actuarial Standards to lead its challenging programme of transition - from Guidance Notes adopted in 2006 to the new Technical Actuarial Standards issued by the BAS. An exposure draft of the first of these, on Reporting Actuarial Information, was issued in April. Louise will also become a member of the FRC’s senior management team.
Louise has been a Project Director of the BAS since May 2007 and was responsible for the recent discussion paper on Actuarial Mortality Assumptions. She qualified as a Fellow of the Institute of Actuaries in 1987. She has been involved in financial modelling and risk management for over 25 years, as a university lecturer, a software developer and consultant, and a consulting actuary in both life and general insurance. She has contributed to and chaired Actuarial Profession working parties on many topics, including operational risk, professionalism, and software use.
Commenting on the new appointment, Sir Christopher Hogg, Chairman of the FRC, said:
“It is encouraging that we had such a long list of good candidates, both external and internal, for this important position. The BAS nomination panel presented a short list of three to the FRC Board, and I am delighted to confirm Louise’s appointment.”
Paul Seymour, Chair of the BAS, said:
“The BAS has a demanding remit and a very active programme. In the last two months we have issued four papers. I am confident that, under Louise’s leadership, we will maintain the momentum that has been established. On behalf of the Board, I take this opportunity to thank board member Harold Clarke for his vital contribution as Interim Director since January.”
