The Institute and Faculty of Actuaries (IFoA) has awarded the Quality Assurance Scheme (QAS) accreditation to Thomson Dickson Consulting after its successful application for inclusion in the flagship scheme.
The QAS is a voluntary accreditation scheme available on application to organisations that employ members of the IFoA. It is designed for organisations who wish to demonstrate their commitment to effective quality assurance at the organisational level that underpins the quality of actuarial work. All organisations receiving QAS accreditation have to pass a rigorous, independent assessment of their working environment, culture and processes.
We are delighted to be awarded the Quality Assurance Scheme accreditation by the Institute and Faculty of Actuaries. This award supports our commitment to make it easy for trustees and employers to manage their DB pension schemes. We do this by delivering excellent actuarial, scheme administration and governance services to our clients.
The QAS is outcomes focused and looks at whether an organisation is meeting those outcomes, rather than on how it achieves them. The organisation must maintain and apply appropriate policies and procedures designed to achieve the following outcomes:
Supervision of those undertaking actuarial work, compliance with actuarial standards and regulatory requirements, effective use of work review
Conflicts of interest
Identification, management and reconciliation of actual and potential conflicts of interest
Development and training of actuaries and actuarial students
Support for the development and training of members to maintain competence
Creation of an environment in which IFoA members are able to speak up with concerns of a professional nature
Relationship with users
Clear engagement and communication with users, the identification and resolution of any concerns raised about an actuary or actuarial work