Academy Strategic Plan
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The American Academy of Actuaries’ mission is to serve the public and the United States actuarial profession.
To accomplish this:
> As the public voice for the United States actuarial profession, the Academy provides independent and objective actuarial information, analysis, and education for the formation of sound public policy;
> The Academy provides for the establishment, maintenance, and enforcement of high professional standards of actuarial qualification, practice, and conduct;
> The Academy advances actuarial practice by informing and educating its members on public policy and professionalism issues and current and emerging practices;
> The Academy identifies and addresses issues on behalf of the public interest on matters in which actuarial science provides a unique understanding;
> The Academy increases the public’s understanding and recognition of the value of the actuarial profession;
> The Academy provides opportunities for professional development of its members through volunteerism and service to the profession;
> The Academy facilitates and coordinates response to issues of common interest among the U.S.-based actuarial associations; and
> The Academy coordinates the representation of the US profession globally.
The vision of the American Academy of Actuaries is that financial security systems in the United States be sound and sustainable, and that actuaries be recognized as preeminent experts in risk and financial security.
1.1. Lead the professionalism activities of the U.S. actuarial profession in clear demonstration of the profession’s ability to self-regulate.
1.2. Establish, maintain, and promote standards of qualification, practice, and conduct for the profession.
1.3. Be recognized by governmental and non-governmental bodies throughout the United States as the source of standards of qualification, practice, and conduct for the profession.
1.4. Ensure compliance with the profession’s standards through a fair and rigorous counseling and discipline process.
1.5. Develop and promote a central, comprehensive body of interactive and user-friendly professionalism resources to inspire and enable our members to attain and maintain a high level of professionalism in their work.
1.6. Promote adherence to appropriate professionalism standards by U.S. actuaries practicing outside the U.S. and by international actuaries practicing within the U.S. by encouraging Academy membership, which requires knowledge of and compliance with U.S. laws and practice.
1.7. Promote and facilitate volunteer participation in the Academy’s professionalism work.
2. Public Policy; Advising Policymakers:
2.1. Strengthen our reputation as the source of unbiased advice to Congress and the executive branch, on matters within actuarial expertise.
2.2. Strengthen our reputation as the source of unbiased advice to the NAIC and state legislative bodies on matters within actuarial expertise.
2.3. Be recognized by governmental and non-governmental bodies throughout the United States as the source of unbiased advice on matters within actuarial expertise.
2.4. Be recognized internationally by governmental and non-governmental bodies as the source of unbiased advice on matters relating to actuarial expertise in the U.S.
2.5. Promote awareness of and participation in public policy issues by our members.
2.6. Promote and facilitate volunteer participation in the Academy’s public policy work.
3. Acting in the Public and the Profession’s Interest:
3.1. Speak effectively for the public on appropriate topics in the public interest.
3.2. Pursue state and federal laws and regulations that recognize membership in the American Academy of Actuaries as the necessary credential for all actuarial practice in the United States.
4. Recognition and Communication:
4.1. Provide the public with unbiased information on actuarial issues.
4.2. Inform the public of statements made by the Academy and communications made under section 2 regarding public policy.
4.3. Ensure that members of the profession in the U.S. are fully informed of Academy activities.
4.4. Ensure that members of the profession in the U.S. are fully informed of relevant standards and obligations and have access to the necessary resources to provide high quality actuarial services to their principals.
5. Coordination and Representation:
5.1. Make Academy membership universal for U.S. practicing actuaries.
5.2. Promote the value and relevance of actuarial expertise.
5.3. Enhance the value of membership in the Academy.
5.4. Take appropriate advantage of media opportunities in conjunction with other U.S.-based organizations when collaboration is consistent with the Academy’s mission.
6. International Representation:
6.1. Represent the U.S. actuarial profession in front of key supranational organizations.
6.2. Maintain good relations and open communications with key actuarial associations.
6.3. Monitor international developments with the potential to affect actuarial practice within the U.S. and represent the U.S. actuarial profession as needed.
6.4. Assist the growth and maturation of actuarial associations outside the U.S. when a) requested by the local association, and b) the resource commitment will not disrupt other Academy priorities.