African Actuary in a Global Village

2008 saw the near collapse of the Western financial system, with various significant markets lacking the necessary oversight and transparency. Financial instruments that were designed to manage counterparty risk were allowed to multiply that risk, creating tremendous worldwide contagion effects.

Three years later and the globalisation of financial services continues: the expansion of crossborder regulation; globalisation of the IFRS accounting framework; technological pressures for data standardisation across entities and borders; and intensified market take-overs and business restructuring. Furthermore, the domino effect of government stimuli on the Western financial services industry has increased the shift of financial strength to other jurisdictions.

Does the African Actuary have a role to play in this rapidly globalising financial services industry? How are we to steer the development of an innovative financial services industry in South Africa and the African continent?

The 2011 Convention will be held on 8 and 9 November and presents an opportunity to share with your colleagues the actuarial innovations happening in South Africa and on the African continent that are addressing globalisation challenges and the shift in global financial strengths.

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