The Royal Institution of Chartered Surveyors (RICS) has appointed Victor Olowe as chair of the institution’s new Valuation Assurance Committee (VAC).
Olowe currently chairs the Quality Assurance Scheme Committee at the Institute and Faculty of Actuaries, the CGMA examination board at CIMA/AICPA, and Water UK’s Independent Sewerage and Water Adoption Panels. He also serves as vice chair of Morley College London and is the former chief executive of the Council for Licensed Conveyancers.
The VAC is a permanent subcommittee of the RICS Standards and Regulation Board (SRB) and its formation was one of the main recommendations arising from the Independent Review of Real Estate Investment Valuation, which was commissioned by the RICS SRB.
RICS is currently recruiting the rest of the committee and intends to have it fully operational by the end of 2024.
Nigel Clarke, chair of the RICS SRB, said: “I am pleased to confirm Victor’s appointment as the chair of the Valuation Assurance Committee, which marks a significant step in implementing the 2021 valuation review recommendations. Following a competitive recruitment process, Victor was appointed to the role, to which he brings extensive expertise as a chair and experience working within professional regulation, standards setting, and quality assurance.
“Victor is well placed to steer the new committee in overseeing the regulatory quality assurance framework for RICS registered valuers and RICS regulated firms undertaking valuation services.”
