Conflict of Interest Policy
The Academy has adopted the following policy to guide its activities on behalf of the actuarial profession and the public:
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 U.S. profession globally.
These fundamental purposes of the Academy require it to maintain a high level of professional objectivity and independence from any specific interests of the employers of its members. Therefore, members who work on the Academy's behalf must carefully consider and address any situation that may arise with respect to the members' activity, or the activity of any member working with them, which may call into question their professional objectivity.
Members should comply with the Code of Professional Conduct whenever they provide services to the Academy. Members should familiarize themselves with the paper "Conflicts of Interest When Doing Volunteer Work" most recently updated by the Academy in 2022, which discusses conflicts of interest. It also suggests possible actions the member might consider taking if the member identifies a possible conflict of interest.
Any question or concern about the possibility of a conflict of interest with respect to any work a member may perform on behalf of the Academy should be addressed to the member supervising the activity or to the Academy's general counsel.