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Selection Committee Makes ABCD, ASB Appointments
The Selection Committee-established in the Academy bylaws and composed of the presidents and presidents-elect of the Academy, the Casualty Actuarial Society, and the Society of Actuaries-made member appointments to the Actuarial Board for Counseling and Discipline (ABCD) and the Actuarial Standards Board (ASB), which take effect Jan. 1.
 ABCD-John Schubert was appointed chairperson, with vice chairpersons Al Beer and William Hines; all are one-year appointments. Two new members were appointed to three-year terms-Cande Olsen and David Kausch. Exiting the board are David Driscoll and Godfrey Perrott; the Academy extends its appreciation to them for their years of service to the ABCD and the actuarial profession.
 ASB-Rob Damler, a current ASB vice chairperson, was appointed chairperson. Rick Lassow, a past ASB Health Committee chairperson, was appointed a member, while Chairperson Darrell Knapp is departing. Kevin Dyke was reappointed vice chairperson and ASB member Laura Hanson will be a new vice chairperson. The Academy extends its appreciation to Knapp for his years of service to the ASB and the actuarial profession.
Register Now for Upcoming CE Opportunities
Upcoming webinars this month offering valuable year-end continuing education (CE) opportunities include:
Next Week-‘Capital Market Outlook’ Pension Webinar-After a year that began with historically low interest rates and historically high capital market pricing, a narrative developed that this may be the “new normal”-then, an inflation spike changed that narrative. Join the Academy for the pension webinar “Capital Market Outlook-What to Expect After 2022’s Roller-Coaster Ride,” intended to support pension actuaries with responsibility for setting and assessing economic assumptions. In addition to CE, Joint Board for the Enrollment of Actuaries (JBEA) continuing professional education credit (CPE) is available. The webinar is next Tuesday, Dec. 6, from noon to 1:30 p.m. EST. Register today.
‘Tales From the Dark Side’ Professionalism Webinar-The latest iteration of the Academy’s popular “Tales from the Dark Side” professionalism webinar series will explore examples of ethical problems based on cases and requests for guidance that have been brought before the ABCD. Presenting ABCD members will use case studies to discuss professionalism aspects that actuaries should consider to stay on the right side of the Code of Professional Conduct. Core ethics JBEA CPE and professionalism CE are also available. This webinar will be on Friday, Dec. 16, from noon to 1:30 p.m. EST. Register now.
Academy Holds Health, Financial Reporting Webinars
The Academy hosted two webinars this week:
Health-The Health Practice Council’s (HPC) Tuesday webinar, “Considerations for Calculating Cost-Sharing Reduction Load Factors,” featured discussion of and Q&A about cost-sharing reductions provided for under the Affordable Care Act. Joyce Bohl, new Academy Board member and chairperson of the HPC’s Individual and Small Group Markets Committee, moderated, and Vice Chairperson Donna Novak and Jason Karcher, chairperson of the committee’s Risk Sharing Subcommittee, presented. Slides and audio are available free as a member benefit.
Financial Reporting-The Risk Management and Financial Reporting Council (RMFRC) on Wednesday hosted the third webinar in a three-part series offering insight on the recently exposed long-duration targeted improvements practice note. RMFRC Vice Chairperson Steve Malerich and Robert Frasca, chairperson of RMFRC’s Long Duration Contracts Work Group and a member of the Financial Reporting Committee, presented. Slides and audio are available free as a member benefit.
Academy Outreach & Stakeholder Engagement
Academy President-Elect Lisa Slotznick spoke Tuesday to the actuarial science program of Columbia University’s School of Professional Studies in New York City, introducing students to the Academy, its role and membership benefits, and its public policy and professionalism work.
Also on Tuesday:
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ASB member Laura Hanson presented in Minneapolis in a hybrid session for Ameriprise Financial actuaries called “The ASOP Advantage,” covering ASB standards-setting and highlighting the valuable role of actuarial standards of practice (ASOPs) as practice and educational resources.
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Committee on Qualifications member Kevin Russell and Data Science and Analytics Committee member Liaw Huang virtually presented during Prudential’s annual actuarial ethics program, offering an overview of the amended U.S. Qualification Standards (USQS) and a focused discussion of bias in the context of data, models, and algorithms.
Professionalism Speakers Bureau-The Academy provides qualified speakers to actuarial clubs and organizations to help members fulfill their professionalism continuing education requirements. For more information, see the Academy website.
Recently Released
 The title of “actuary” has been used for more than 2,000 years. What’s in a name? The latest Contingencies web exclusive goes deep into the history books to see how the use of this appellation has changed over time.
 The November Actuarial Update references the Academy’s annual meeting and covers Academy representation this month at actuarial and affiliated groups’ meetings. Also in the issue, coverage of recent and upcoming webinars, and the Professionalism Counts column, “Precept 11-Truth in Advertising.”
An Update supplement, “Envision Tomorrow-A Closer Look,” covers the Academy’s annual meeting, held in early November in the nation’s capital. It includes photos, highlights and deep dives into general and practice-area breakout sessions, and Academy Board and officer transition including new President Ken Kent. It also showcases the Academy’s annual awards, including the new Rising Actuary Awards for up-and-coming actuaries.
Public Policy in Focus
Visit the Public Policy page to stay on top of the latest news and activities.
In the News
Events Calendar
Next Week-P/C Loss Reserve Opinions Seminar
Registration closes today, Dec. 2, for the Academy’s Seminar on Effective P/C Loss Reserve Opinions, set for next week in Phoenix. Designed for actuaries who prepare, or assist with preparing, annual statements of actuarial opinion on P/C loss reserves, the seminar will include a session on use of reserve ranges, which count toward the new requirement on bias topics under the revised USQS. The seminar is Dec. 5-6 at the Marriott Phoenix Airport. Register now.
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