Introduction

Throughout 2009, U.S. policymakers have scrambled to direct solutions to wide-reaching economic problems triggered by risk management failures in the financial services industry. As the uncertainty began to settle, the Academy promoted the actuarial profession - and its commitment to proven risk management practices - as an essential resource to help policymakers pick up the pieces and build a more effective regulatory regime.

The Academy’s commitment to leading the regulatory debate was most evident at the financial summit it hosted on July 20. The summit, which drew keynote speaker Assistant Treasury Secretary Alan Krueger, brought together Academy leaders from all actuarial practice areas to prioritize a number of contemporary regulatory issues and to strategically plan the profession’s response to the financial crisis.

Academy volunteers also became regular fixtures on Capitol Hill throughout the year, submitting testimony and meeting with congressional committees to discuss future financial regulatory issues such as systemic risk. Among these Hill visitors were Academy Senior Life Fellow Nancy Bennett, a key addition to the Academy staff this year.

In the near-term, however, health care reform captured national attention as the most critical far-reaching policy issue of 2009. Accordingly, the Academy stepped up its efforts to shape the debate. From policy statements on issues that contain actuarial insight to teaming up with the Society of Actuaries for detailed research on key aspects of reform proposals, the Academy’s volunteers and staff presented trusted analysis to policymakers and the media and reasserted the Academy as a nonpartisan resource to inform the national debate.

As volunteerism continues to grow, so does overall Academy membership. If you are one of the almost 17,000 members, please take a moment to check out the 2009 Academy Record and catch up some of the accomplishments in professionalism, public policy, and public affairs throughout the past Academy year. And thank you for making them all possible.

Professionalism highlights

• Council on Professionalism
• The ABCD
• The ASB

Public policy highlights

• Casualty Practice Council
• Health Practice Council
• Life Practice Council
• Pension Practice Council
• Risk Management and Financial Reporting Council

Public affairs

• Photo gallery