Actuarial Science Press Appearances
Actuaries – time to chart a new path
Address by the President of the Institute and Faculty of Actuaries Ms Marjorie Ngwenya
Phenomenal Woman: Marjorie Ngwenya I Immediate Past President, Institute and Faculty of Actuaries Executive Director, Africa Leadership University School of Insurance
Marjorie currently acts as a freelance consultant. In that capacity she is Executive Director at ALU School of Insurance, a social entrepreneurial collaboration of the insurance industry on the African continent.
She is formerly a member of the Group Executive Committee of Liberty Group in South Africa and was responsible for the execution of strategy across the group’s multinational insurance and asset management operations.
Prior to that she was Chief Risk Officer of Old Mutual’s African Operations. where she was responsible for the performance and second line oversight of the risk, governance, compliance, actuarial and balance sheet management functions across Old Mutual’s African Operations (13 countries with banking, insurance and asset management interests.
Before moving to South Africa, her last role in the UK was Director and Head of Life & Health Actuarial Consultancy at Mazars LLP. There she served a multitude of clients and was accountable for growth and P&L performance of the start-up department and efficiency of client projects.
Her expertise lies in the areas of risk management, actuarial oversight and strategy.
Marjorie serves as non-executive director and chair of the risk and actuarial committee at Bidvest Life Limited.
She is non-executive director and chair of the risk committee and its actuarial subcommittee at Rand Mutual Assurance.
She is a non-executive director of the South African Maths Foundation with responsibility for corporate engagement.
She is non-executive director at Common Purpose International.
She serves as a member of board of trustees of the Legal Resources Trust in South Africa and has been involved with this charity for almost 10 years. This charitable body supports the Legal Resources Centre, a human rights organisation founded in 1979, which aspires towards a fully democratic equal society.
Marjorie is a member and volunteer of the Institute and Faculty of Actuaries (IFoA), headquartered in the UK. The IFoA is a membership body; educating and regulating its over 31,000 members are among its responsibilities.
Marjorie was elected by the IFoA Council to the presidential team in June 2016 and she was the first IFoA president to be based outside the UK. She is also the youngest president in the organisation’s 160 year history, the third female and the first person of colour.
Marjorie is now the immediate President of the IFoA. In her role as president she chaired its 30 person Council.
She is serving her 8th year as a member of the IFoA’s Council and is Chair of the Nominations Committee. She was formerly a member of the Management Board, Remuneration Committee and the Audit & Risk Committee.
Marjorie is a Fellow of the Institute and Faculty of Actuaries. Fellowship is the highest level of qualification attainable with the Institute and Faculty of Actuaries (IFoA).
Prior to her actuarial training she completed the ATT qualification of the Association of Taxation Technicians (UK).
Marjorie is a holder of a Sloan Masters of Leadership and Strategy from the London Business School. She was a recipient of the Sloan scholarship. The Masters in Leadership and Strategy focuses on strategy, leadership and change, and globalisation. This programme covered a blend of technical and organisational behaviour topics to provide a solid grounding in the tools, frameworks and analytical skills to effectively lead change and drive the performance of an organisation.
She has also completed the Channel Leadership Program at INSEAD.
As an actuary who is passionate about continuous development, she has given her time to teach undergraduate/postgraduate actuarial students at universities in the UK, Kenya and Armenia. She has also delivered actuarial lectures and training in the UK, Bulgaria, India, Ghana, Zimbabwe, Kenya, Uganda and Nigeria
She is a Visiting Lecturer at Cass Business School, UK and has presented at a number of industry conferences
Marjorie is a keen linguist and speaks the following languages: English (fluent), Shona (fluent), French and Dutch (A Level passes/intermediate)
She is a freeman of the City of London and liveryman of Worshipful Company of Actuaries – a charitable arm of the actuarial profession
She enjoys swimming and is an enthusiastic singer.
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