The actuarial profession’s first cross-company mentoring programme has received high praise and recognition. MP and Treasury Select Committee Chair, Nicky Morgan, wrote to the programme organisers to praise the scheme and wish everyone success for its second year.
Female actuaries leave the profession 13 years earlier than their male counterparts. That leads to a lack of diversity at senior levels, despite there being near parity of numbers between male and female junior actuaries. The AMP cross-company mentoring programme’s mission is to help close that 13-year gap and redress the senior level gender imbalance.
Nearly 100 people took part in last year’s inaugural programme, where female mentees are matched with a more senior male or female partner from another organisation. The cross-company element is a critical aspect to the programme’s success. It offers mentors and mentees a safe space to talk openly about the experiences and challenges they’re facing. Mentees benefit from a fresh perspective with their mentor bringing different skills, experience and expertise to the partnership. And whilst mentors are giving, they also get to hear a completely different perspective from their mentee. Cross-company mentoring is a proven, powerful and practical way to help develop female and male talent pipelines because everyone involved learns.
The Actuarial Mentoring Programme (AMP) is a partnership between diversity and mentoring experts, Moving Ahead and the Institute and Faculty of Actuaries. It is sponsored by Pension Insurance Corporation.
Rt Hon Nicky Morgan MP and Chair of the Treasury Select Committee said:
“Congratulations to everyone involved in AMP and good luck for year two. It is great to see so many senior champions advocating mentoring and diversity across the actuarial profession. We know there is still a lack of diversity at the top of the financial services sector, including the actuarial profession. I am sure that AMP will play a key part in changing that.”
Tracy Blackwell, CEO of Pension Insurance Corporation said:
“This is a very exciting project with an important objective and I am delighted that we have been able to work with the Institute and Faculty of Actuaries and Moving Ahead to bring it to fruition. We all recognise the benefits of having a diverse workforce and, as an employer of actuaries, we at PIC want to provide support to women in the actuarial profession. Mentoring is proven to be effective at helping to realise potential, and this programme is a really positive sign for the future of the profession, and women in finance more generally.”
There’s still time for your organisation and colleagues to be involved in this year’s AMP programme, launching on 7th November. The nine-month scheme costs organisations only £3,000 for up to five mentoring pairs (ten colleagues to participate).
There are also 10 spaces reserved for actuaries working for smaller firms or seeking employment, there are 10 individual spaces reserved for you.
You need to hurry as the sign-up deadline is looming: Friday 28th September 2018. For more information contact Tay@moving-ahead.org or click here to sign up https://www.surveymonkey.co.uk/r/AMPregistration.
There’s a short film clip about the programme: here