Council on Professionalism

Council on Professionalism Highlights

The Council on Professionalism and its committees:

Co-sponsored quarterly webcasts on important professionalism topics with the American Society of Pension Professionals and Actuaries (ASPPA), the Casualty Actuarial Society (CAS), the Conference of Consulting Actuaries (CCA), and the Society of Actuaries (SOA). The professionalism webcasts covered areas such as retiree drug subsidy attestations, the qualification standards, and the SOA's continuing professional development requirements. More than 500 registrants and an estimated 2,500 attendees took part in each of the two most recent webcasts, which covered the U.S. Qualification Standards (June) and the best of the Up To Code articles published in Contingencies (October). A webcast on Actuarial Standard of Practice No. 35 (Selection of Demographic and Other Noneconomic Assumptions for Measuring Pension Obligations) and other pension standards is scheduled for early December.
Finalized and published an updated version of the Applicability Guidelines (with the assistance of the other practice councils) in the first quarter of 2010. The update reflects changes that have been made to actuarial standards of practice.
Answered more than 160 questions relating to various aspects of the revised U.S. Qualification Standards.
Sponsored the Academy's 11th annual Life and Health Qualifications Seminar to assist actuaries in meeting examination requirements and continuing education requirements under the U.S. Qualification Standards. The event was attended by 68 registrants. In recognition of the continuing value of this seminar, the responsible task force was converted into a standing committee by the Academy's board of directors at its January 2010 meeting.
Obtained acknowledgments of the Academy's conflict of interest policy from 99 percent of the volunteers. The process was facilitated by allowing volunteers to acknowledge the policy directly online.
Completed a review of the CAS professionalism associateship course and the SOA associateship and fellowship professionalism courses, and provided the two organizations with input on their programs. In addition, Academy volunteers and staff participated in SOA and CAS professionalism courses and served throughout 2010 as a professionalism resource for actuarial organizations and clubs.
Submitted a letter to the Department of Health and Human Services in connection with the interim final rules under the Mental Health Parity and Addiction Equity Act of 2008 and its use of the terms "qualified and licensed" actuary and "member in good standing" of the Academy.
Completed drafting proposed changes to the Academy's conflict of interest policy and a discussion paper that will provide assistance to volunteers on how to adhere to the policy. The proposed changes will be reviewed and then sent to the Academy board for consideration at its January 2011 meeting.