Volunteer Action Required: Commitment to Objectivity
Committing on an annual basis to professional objectivity is required to perform volunteer work for all those who participate in Academy committees. Art Panighetti, vice president of the Academy’s Council on Professionalism, emailed Academy volunteers Friday with a request of all volunteers to submit a conflict of interest (COI) acknowledgment and continuing education attestation. Interested parties (IPs) must also acknowledge the COI policy. For more information, see this article in the just-released January Actuarial Update.
If you are a volunteer or IP, to comply, follow the instructions in the email or on the membership page under “Volunteer Acknowledgments” under Volunteer Resources. For more information about the Academy’s commitment to professional objectivity, please visit the Professional Objectivity at the Academy page. Also consider listening to the latest podcast (noted below) to hear specific discussion on the importance of objectivity in establishing the credibility of Academy work.
New ‘Actuary Voices’ Podcast—Part Two of Tom Wildsmith Interview
Part two of the Academy’s “Actuary Voices” podcast series with Tom Wildsmith, past Academy president and current Board member and international secretary, is now available. In addition to professionalism, international issues, and future challenges, Wildsmith shares his thoughts on how the Academy differs from a trade association—and why that matters. He also sheds light on the Academy’s new approach to international issues and provides insights on what he believes lies ahead for both the Academy and the actuarial profession. Subscribe to “Actuary Voices” via iTunes, Spotify, or other podcast services. Click here to listen now.
Actuarial State of the Union 2020: Academy Highlights Federal Programs’ Challenges
Ahead of the State of the Union address scheduled for next Tuesday, Feb. 4, the Academy highlighted the financial risks and challenges facing federal programs such as Social Security, Medicare, and the National Flood Insurance Program to public policymakers.
“As experts in the analysis of risk, actuaries have a unique perspective on and role in providing policymakers with an objective understanding of the options to address risks to financial programs and systems that millions of Americans rely on for health care, retirement and lifetime income, and after extreme weather and natural disasters strike,” said Academy President D. Joeff Williams.
The January Actuarial Update covers the timely new election guides, the Actuaries Climate Risk Index, Academy outreach at Canada’s Actuarial Students’ National Association annual convention, and the Solvency Committee’s comments to the International Association of Insurance Supervisors on liquidity risk management, and the “Professionalism Counts” column looks at the new Actuarial Standard of Practice No. 56, Modeling.
The Winter Life Perspectives takes a look at the recently released Principle-Based Approach Projections Practice Note, and includes a deep-dive Q&A with PBA Projections Practice Note Work Group Chairperson Ben Slutsker. Also in the issue, recaps of the Academy’s life presentations at the NAIC Fall National Meeting, Academy Annual Meeting and Public Policy life sessions, and a legislative/regulatory update.
IRS Announces Renewal Season Open for Enrolled Actuaries
The IRS has opened the renewal season for enrolled actuaries for the April 1, 2020–March 31, 2023, period. The Joint Board for the Enrollment of Actuaries (JBEA) has asked the Academy to help publicize the re-enrollment period. For details on the renewal form and instructions, click here.
Today—Early-Discount Deadline for Enrolled Actuaries Meeting
Early registration discounts end today, Jan. 31, for the Enrolled Actuaries Meeting, to be held March 29–April 1 in Washington, D.C. Sponsored jointly by the Academy and the Conference of Consulting Actuaries (CCA), the 45th annual EA Meeting will follow the new format introduced in the past few years, with shorter sessions on key retirement and pension issues that will provide you with more EA credit opportunity. Register today.
P/C Loss Reserve, Life & Health Law Manuals Available
Two Academy law manuals are now available online for immediate purchase and download.
The P/C Loss Reserve Law Manual is designed to help appointed actuaries know the requirements for specific statements of actuarial opinion. The manual contains a compilation of insurance laws relating to P/C loss and loss expense reserves for all 50 states, Washington, D.C., and Puerto Rico. Users can directly access each jurisdiction’s laws, making it a useful reference tool for actuaries. Order today.
The Life and Health Valuation Law Manual contains information to help appointed actuaries know the requirements of the NAIC model Standard Valuation Law and the Model Actuarial Opinion and Memorandum Regulation. It includes a concise summary of the valuation laws (and NAIC regulations) of all 50 states, the District of Columbia, and Puerto Rico. Order today.
Public Employment Opportunities
The Connecticut Insurance Department is seeking a property/casualty insurance actuary and a life/health insurance actuary. Both roles will support the needs of the department in financial analysis, field exams, NAIC committees, and other product management support. For more information and to apply, click the links above.
The New Mexico Office of Superintendent of Insurance is seeking a full-time credentialed health actuary with at least three years of actuarial experience. The position is in the Santa Fe/Albuquerque area. For more details, click here.