Keeping you in the know—the latest news from the Academy
RECENT ACADEMY ACTIVITY | Dec. 11–15, 2023
This Week … In a Minute
Have a minute? Catch up on the week’s top stories with the latest “This Week … In a Minute” video. Subscribe to our YouTube channel to receive alerts as they are released.
Happy Holidays From the Academy
The Academy wishes our members, their families, and friends a safe and happy holiday season.
Next Week’s Webinars Offer Year-End CE Opportunities
Next week’s Academy webinars will offer year-end continuing education (CE) credit, including continuing professional education (CPE) credit from the Joint Board for the Enrollment of Actuaries.
“Tales From the Dark Side 2023” on Tuesday, Dec. 19, continues the popular professionalism webinar series, which looks at ethical issues based on case studies from the Actuarial Board for Counseling and Discipline. CPE is available. Register now.
New Member Benefit—Academy Career Center
Members can now benefit from the new Academy Career Center. This easy-to-use resource will provide job seekers with opportunities to search for jobs, sign up for automatic notifications, and apply easily online. Job seekers can also benefit from the Career Learning Center, which includes helpful professional development advice and interview tips. For employers, the Career Center provides unmatched exposure for job listings and easy management of your posting. Check out the Career Center today.
Law Manuals Available for Preorder
The Academy’s P/C Loss Reserve Law Manual and the Life and Health Valuation Law Manual are available for preorder. Make sure you have the latest requirements at your fingertips—place your preorder today and be among the first to have these handy reference tools.
COPLFR Releases Annual Practice Note on SAOs
The Committee on Property and Liability Financial Reporting (COPLFR) released the updated Statements of Actuarial Opinion on Property and Casualty Loss Reserves practice note to include opinions issued in 2023. The practice note describes practices commonly employed by actuaries working on Statements of Actuarial Opinion (SAOs) on loss and loss expense reserves in accordance with the NAIC’s Property and Casualty Annual Statement Instructions.
This week’s life and pension webinars covered principle-based reserving (PBR) and capital market issues, respectively.
The latest installment of this year’s PBR Bootcamp Series, “VM-31 as Seen by Regulators,” held Tuesday, featured regulators’ perspective on PBR reports and how reports examine life insurance, Valuation Manual updates being considered, and how to improve reports. A recording is available as a free member benefit.
“Capital Market Outlook,” held Thursday, offered analysis of current conditions and insights into capital market conditions. A recording will be available soon.
Slides and audio are available for the Dec. 5 webinar, “An Actuarial View of Data Bias: Definitions, Impacts, and Considerations.” Part of the Data Science and Analytics Committee (DSAC) series Additional Considerations in Data Science, presenters including DSAC Chairperson Dorothy Andrews looked at how data bias can impact actuarial services by offering specific practice-area examples, and considerations in performing and reviewing a bias analysis.
Webinar recordings—Remember, you can always view recordings of any webinars you missed in 2023—visit the webinars page.
Academy Outreach & Member Engagement
Laura Hanson, co-vice chairperson of the Actuarial Standards Board, spoke on Tuesday to the Twin Cities (Minnesota) Actuarial Club on “Self-Regulation and the Actuarial Profession.” More than 150 actuaries were present.
Seong-min Eom, immediate past vice president of risk management and financial reporting, provided a “Professionalism Update and Resources for the New Year” on Monday at the Casualty Actuaries of the Mid-Atlantic Region’s meeting at Mercer County Community College in West Windsor Township, N.J.
Academy Speakers Bureau—The Academy provides qualified speakers to actuarial clubs and organizations to help members fulfill their professionalism continuing education requirements and be more informed on public policy issues. For more information and to request a speaker, visit the Academy website.
Recently Released
The Fall HealthCheck leads with an in-depth look at the Academy’s November Health Equity Symposium, which brought together actuaries and health plan experts who offered ideas on incorporating equity-enhancing elements into health benefit designs. Also in the issue, a recap of Envision Tomorrow health sessions and Academy health presentations at the NAIC Fall Meeting.
IABA Seeking Executive Director
The International Association of Black Actuaries (IABA) has engaged a professional search firm to help the group find its next executive director, a fully remote U.S.-based position to provide strategic leadership for the IABA, its board, staff, and volunteers. For more information, see the posting.
Public Policy News in Brief
The Life Index-Linked Variable Annuity (ILVA) Subcommittee submitted a comment letter to the ILVA Subgroup of the Interstate Insurance Product Regulation Commission’s (IIPRC) Product Standard Committee (PSC) on the Nov. 14 exposure of the Standards for Individual Deferred Index Linked Variable Annuity Contracts and the draft amendments to the Additional Standards to Market Value Adjustment.
Senior Health Fellow Cori Uccello and Health Equity Committee Co-Chairperson Rebecca Sheppard gave an overview of the committee’s work on equity considerations related to managing population health and risk adjustment to AHIP’s Health Equity Workgroup.
A report from global law firm Mayer Brown on the NAIC’s Fall Meeting mentioned Life C1 Subcommittee Chairperson Steve Smith’s presentation to the Risk-Based Capital Investment Risk and Evaluation (E) (RBCIRE) Working Group on updated principles for structured securities RBC.
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