Introduction
Throughout 2009, U.S. policymakers have scrambled to erect solutions to wide-reaching economic problems triggered by risk management failures in the financial services industry. Still standing strong amid the dust, the actuarial profession—and its steadfast commitment to proven risk management practices—was effectively promoted by the Academy as an essential resource to help policymakers pick up the pieces and build a more protective regulatory regime.
The Academy’s commitment to leading the regulatory debate was most visible at the financial summit it hosted on July 31. The summit, which drew keynote speaker Assistant Treasury Secretary Alan Krueger, brought together over 60 Academy volunteers across all practice areas to discuss a variety of contemporary regulatory issues and to organize the profession’s response to the financial crisis.
Academy volunteers also became regular guests on Capitol Hill throughout the year, submitting testimony and meeting with congressional committees to discuss future financial regulatory issues such as systemic risk. Among these Hill visitors were Academy Senior Life Fellow Nancy Bennett, a key addition to the Academy staff this year.
In the short-term, however, health care reform captured national attention as the big-ticket policy issue of 2009. Accordingly, the Academy stepped up its education efforts. From policy statements on issues that contain actuarial insight to teaming up with the Society of Actuaries for detailed research on congressional proposals, Academy staff and volunteers reasserted themselves to policymakers and the media as trusted, nonpartisan resources to inform the national debate.
As volunteerism continues to grow, so does overall Academy membership. If you are one of the almost 17,000 members, please take a moment to check out the 2009 Academy Record and catch up some of the impressive accomplishments in professionalism, public policy, and public affairs throughout the past Academy year. And thank you for making them all possible.
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