By William J. Michalisin
Sixty years ago, leaders from the four actuarial organizations based in the United States came together with hopes of uniting the actuarial profession in this country. The leaders involved wanted to create a separate and independent organization focused on clarifying what it meant to be an actuary and serving as a voice for the profession in the U.S.; setting standards and accreditation for U.S.-based actuaries; adopting a code of professional conduct; leading public and stakeholder relations and awareness-building efforts; and establishing and maintaining robust professional standards of actuarial practice. With the commitment and dedication of many actuarial leaders across those organizations, the American Academy of Actuaries was established. Its detailed history can be found on our website.
Since its inception, the Academy has constantly evolved and grown in its role, building on the foundation set by our actuarial peer organizations and their leaders, and today it serves over 20,000 members who proudly carry the MAAA designation. The Academy houses and supports the professionalism structures that guide all actuaries practicing in the U.S.—including the code of conduct, standards of practice, and qualification standards—as well as the profession’s counseling and discipline process. These are all critical to the profession’s credibility and its ability to self-regulate.
As the voice for the U.S. actuarial profession on public policy issues, the Academy continues to play a vital role in sustaining the trust the public and many stakeholders we serve place in the U.S. actuarial profession. We contribute an independent, objective, and balanced perspective on actuarial issues.
As our peer actuarial organizations continue to evolve and increase their global engagement, our national focus and priorities are more important than ever. I’d like to highlight some examples of how we continue to fulfill our mission to serve the public and the U.S. actuarial profession.
- The Academy provides for the establishment, maintenance, and enforcement of high professional standards of actuarial qualification, practice, and conduct through the direct support of the Actuarial Standards Board (ASB) and Actuarial Board of Counseling and Discipline (ABCD), as well as the Committee on Qualifications and the Joint Committee on the Code of Conduct. From actuarial standards of practice (ASOPs) and the U.S. Qualification Standards (USQS) to requests for guidance submitted to the ABCD, the Academy and its structures continue to be the one-stop resource for actuaries and their stakeholders in the U.S.
- As the public policy voice for the U.S. actuarial profession, the Academy provides independent and objective actuarial information, analysis, and education through the work of our practice councils and dedicated volunteers. Their contributions—ranging from comment letters and presentations to practice notes and issues briefs—help educate, inform, and support stakeholders at all levels of government in the formation of sound public policy.
- The Academy further advances actuarial practice by informing and educating its members on public policy and professionalism issues, and current and emerging practices. Our councils and staff develop many webinars (live and recorded) and more than 300 publications and resources annually to serve members and stakeholders.
- The Academy identifies and addresses issues on behalf of the public interest in areas where actuarial science provides a unique perspective—from Social Security and retirement, to artificial intelligence (AI), data analytics, and cyber, to climate change and extreme events. Visit our Policy Forum online for a snapshot of these issues and access to many resources available to the public, our members, and stakeholders.
- The Academy increases the public’s understanding and recognition of the value of the actuarial profession and strengthens what it means to be an MAAA and what it means to be a qualified actuary under the USQS. The MAAA is referenced in over 1,400 laws and regulations at the state and federal levels, and the Academy works diligently to reinforce those references and ensure the value and competencies associated with membership are clear to all. This is a critical reason why we refined our member requirements in line with the Academy’s Competency Framework, which go into effect Jan. 1, 2026.
When speakers at some events I attend suggest that actuaries don’t need to join the Academy as members, they overlook how the Academy’s policy work, public representation, support of professionalism structures, and cross-organizational collaboration strengthen the entire U.S. actuarial profession. Professional excellence requires engagement on multiple fronts, and our over 20,000 members recognize the value of participating in both their credentialing organization and the Academy. Investing in Academy membership is an investment in both your professional growth and the profession as a whole. Every actuary practicing in the U.S. should be a member of the Academy, the only U.S.-based organization solely focused on serving the public and the U.S. actuarial profession—a mission that benefits actuaries, their employers, various stakeholders, and the profession alike.
As we celebrate 60 years, it’s important to understand why we are here and how we fulfill the mission that continues to drive us. Equally important is looking ahead to the next 60 years—and beyond—which will be the focus of our January/February 2026 issue. As our credentialing peer organizations continue to evolve globally and technology continues to change rapidly, evolving practices and new competencies will propel the profession forward. An organization that values collaboration with its peer organizations, focuses on the issues facing the U.S. market and policymakers, and directly supports actuaries practicing in the U.S. is critical to the long-term sustainability of the actuarial profession. One thing I know for certain is that the Academy will continue to lend its leading voice on professionalism and policy issues, supporting our growing membership of MAAAs, informing stakeholders at all levels of government, and delivering value and insights to all.
Visit actuary.org to learn more, and please feel free to email me at michalisin@actuary.org with any questions, feedback, and ideas you may have on future topics and ways we can continue advancing the Academy’s mission forward together.
William J. Michalisin is the Academy’s executive director and CEO.