Professionalism News and Events

The Actuarial Standards Board has released a fourth exposure draft of a proposed new actuarial standard of practice (ASOP) titled Modeling. The proposed ASOP will provide guidance to actuaries in any practice area when performing actuarial services with respect to designing, developing, selecting, modifying, or using all types of models. (Actuarial Update, February 2019) (February 28, 2019)
Academy volunteers and interested parties must provide annual acknowledgement of their commitment to objectivity and the Academy’s Conflict of Interest (COI) Policy and continuing education requirements, writes Art Panighetti, vice president of the Council on Professionalism. (Actuarial Update, January 2019) (January 31, 2019)
In a Q&A, outgoing Actuarial Board for Counseling and Discipline (ABCD) Chairperson Rick Block discusses the changes he has seen in six years on the board, including the past two as chairperson, and how the ABCD’s investigative and request for guidance processes work. (Actuarial Update, December 2018) (December 31, 2018)
The November “Professionalism Counts” column looks at the continuing education (CE) requirements under the Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States (the USQS) that apply to all actuaries in the U.S. that issue SAOs, and most do. (Actuarial Update, November 2018) (November 30, 2018)
Celebrating 30 years of the Actuarial Standards Board (ASB), the “Professionalism Counts” column, written by ASB Chairperson Beth Fitzgerald, incoming 2019 Chairperson Kathleen Riley, and Vice Chairperson Maryellen Coggins, recaps some of the ASB’s many accomplishments and invites actuaries to become involved by volunteering for ASB-related professionalism activities and promoting use of the actuarial standards of practice. (Actuarial UpdateOctober 2018) (October 31, 2018)
More than 2,700 people attended the Oct. 17 professionalism webinar, “The Anatomy of the ASOPs,” in which presenters examined issues related to the actuarial standards of practice (ASOPs) promulgated by the Actuarial Standards Board (ASB). Presenters ASB Chairperson Beth Fitzgerald, Vice Chairperson Kathy Riley, and member Cande Olsen explained the key concepts that help keep actuarial practice appropriate and compliant with the Code of Professional Conduct. The presenters covered how ASOPs are developed, key terms that apply to all ASOPs, and actuarial communications. Look for more coverage in the forthcoming October Actuarial Update. Slides and audio are available free to Academy members. (October 17, 2018)
Actuarial Standards Board (ASB) Vice Chairperson Kathleen Riley writes in the September “Professionalism Counts” column on actuarial standards of practice (ASOPs) and the exposure process that the ASB utilizes a robust and transparent exposure process, which is necessary to develop ASOPs that serve both the actuarial profession and the public. (Actuarial UpdateSeptember 2018) (September 29, 2018)
In his article for Contingencies, “Taking Aim,” D. Joeff Williams, chairperson of the Council on Professionalism, Academy’s vice president for professionalism, and president-elect designee of the Academy, discusses actuarial professionalism and the challenge of engagement. (Contingencies, September/October 2018) (September 01, 2018)
In his President’s Message for Contingencies, “The Academy as the Fulcrum of Self-Regulation,” Academy President Steve Alpert discusses the Academy’s central mission of maintaining and strengthening self-regulation in the actuarial profession. (ContingenciesSeptember/October 2018) (September 01, 2018)
The Academy’s Council on Professionalism maintains an online tool to help practicing actuaries stay abreast of actuarial standards of practice (ASOPs). The Applicability Guidelines can help actuaries initiate an analysis of which ASOPs may be applicable to particular assignments and to keep current with new and revised ASOPs. (Actuarial UpdateAugust 2018) (August 31, 2018)