Council on Professionalism highlights

The Council on Professionalism:

• Hosted three widely attended webcasts to assist actuaries in complying with their continuing education requirements under the U.S. Qualification Standards, covering topics such as the application of standards of practice and qualifications outside the United States; a refresher on the Code of Professional Conduct; and Precept 13 of the Code. The council also plans another webcast on Dec. 18 to discuss Actuarial Standards of Practice Nos. 36 and 43.
  
• Received and responded to questions from actuaries, regulators, and insurance companies on the U.S. Qualification Standards. Through October 2009, the Committee on Qualifications had responded to over 150 questions on various aspects of the Qualification Standards.
  
• Successfully implemented part of the Academy’s strategic plan by encouraging compliance with the Academy’s annual conflict of interest policy, which requires all Academy volunteers to specifically acknowledge the Academy’s policy. For 2009, the council streamlined the prior year’s process and was able to achieve 98.5 percent compliance, resulting in dropping only 15 volunteers.
  
• Published an article in the September 2009 edition of the Actuarial Update explaining to membership the adoption by the board in late 2008 of “private reprimand” as an alternative to the disciplinary measures available to the Academy.
  
• Sponsored the Academy's annual Life and Health Qualifications Seminar to assist actuaries in meeting examination requirements and/or continuing education requirements in the Qualification Standards.
  
• Created two task forces, one to review the applicability guidelines associated with actuarial standards of practice and another to review the professionalism course materials used by the Casualty Actuarial Society and the Society of Actuaries in furtherance of the Academy’s strategic plan.
  

Council on Professionalism resources

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