I am pleased to write to you for the first time as the 47th president of the American Academy of Actuaries. The Academy has accomplished a great deal under Mary Frances’ leadership, and we will continue to build upon those efforts to realize the Academy’s vision and mission for the profession in the face of great public uncertainty and debate regarding the long-run sustainability of private and public-sector financial security systems.
Because of this, my incoming presidential remarks focused on three key questions the Academy will be addressing in the coming year:
What is the appropriate governance structure for the Academy
(and the profession)?
What value does the Academy provide to its members and how
to communicate that value?
How can we better contribute to building sustainable processes
to pool public and private risk?
I will provide updates and more detail about these as the year progresses.
I also encourage you to reference the following information:
A summary of the most recent Academy board meeting, which can be accessed in the members-only section on our website. It lists the governance topics we discussed at our October Board meeting, discussions on the possible inclusion of ERM practices by the Board, the decision to keep dues unchanged for the coming year, and the requirement that all 2012 Academy committee volunteers attest to compliance with our Continuing Education requirements.
As president, I want to establish a dialogue to ensure that all of us—not just organizational and/or corporate leadership—ask better questions. And to ensure we apply the best of our actuarial talent, unique skills, and experience to provide better answers in service to the public interest. I welcome your feedback and input. I hope that you will provide it—I look forward to working with each of you as we explore these questions and I thank you for the opportunity to lead our profession.
Thank you. I look forward to hearing from you.
American Academy of Actuaries
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