This Week, Nov. 11 - 15, 2024

MEMBERSHIP

Leadership Transition—Darrell Knapp Becomes Academy’s 60th President

Knapp (right) accepts the president’s gavel from Slotznick

The Academy held its leadership transition on Wednesday, in an Annual Meeting of Academy Members webcast in which Darrell Knapp became the Academy’s 60th president, succeeding outgoing President Lisa Slotznick. Both delivered remarks, along with Academy Executive Director Bill Michalisin, who recapped Academy events from this year and gave a preview of what’s coming in 2025, including planned multiple stakeholder symposiums and events, educational enhancements, new technology and a new website for members, and more.

“Helping the public understand the value of our expertise as actuaries hinges on one critical fact: Being an actuary is much more than a job,” Knapp said. “It’s being part of a profession that is accountable to others in a way that requires us to stay current and ethical in our practice.” Watch a replay on the Academy’s YouTube channel.

• Board of Directors—Also beginning their terms are Professionalism & Education VP Nancy Behrens, Health VP Annette James, Casualty VP Susan Kent, and Member-Selected Directors Steve Armstrong, Eric Keener, and Stephen Koca. See the full Academy Board.

PUBLIC POLICY

Academy Kicks Off NAIC Fall Meeting With Research Presentation

Friday’s VM-22 session at NAIC

Academy presentations at the NAIC Fall National Meeting in Denver kicked off Friday with a research presentation to NAIC’s Life Actuarial (A) Task Force (LATF) as part of a discussion of VM-22. Life Practice Council Annuity Reserves & Capital Subcommittee Chairperson Chris Conrad, Director of Research Steve Jackson, and EY’s Angela McShane and Sean Abate gave an update on the aggregation of field test results for public distribution, designed to assist LATF in coming to a decision on the shape of VM-22 by next summer. The NAIC Fall National Meeting will continue through next Tuesday, Nov. 19.

• Presentations continuing—Academy presentations with updates on practice council activities—and professionalism updates from the Actuarial Board for Counseling and Discipline (ABCD), the Actuarial Standards Board (ASB), and the Committee on Qualifications, work on life and health knowledge statements, and more—will continue this weekend to LATF, NAIC’s Health Actuarial (B) Task Force, and the Casualty Actuarial and Statistical (C) Task Force. The Academy will also host a regulator-only luncheon and discussion with Academy leaders on various professionalism topics.

• Follow the Academy on LinkedIn for updates from the event, and look for more coverage of these and other Academy activities at NAIC next week through the end of the NAIC meetings, and in the upcoming November Actuarial Update.

Public Policy in Brief

• The Individual and Small Group Markets Committee submitted comments to the Centers for Medicare & Medicaid Services regarding the proposed rule for the 2026 Notice of Benefit and Payment Parameters.

• The Economic Scenario Generator Subcommittee commented to the NAIC Generator of Economic Scenarios (GOES) (E/A) Subgroup on its exposure of SERT scenarios.

Visit the Public Policy webpage to stay on top of the latest news and activity.

PROFESSIONALISM

Professionalism Webinar Examines Ethics in Health

Tuesday’s professionalism webinar, Ethical Dilemmas Facing Health Actuaries: Insights and Case Studies, featured Academy professionalism leaders from the health practice area who discussed potentially challenging ethical situations health actuaries face in their work. Look for a full recap in the upcoming November Actuarial Update. A recording is available to members via Academy Learning.

• ‘Tales From the Dark Side’—Coming next month, the popular “Tales From the Dark Side” professionalism webinar series continues with a look at ABCD case studies. The webinar will be on Friday, Dec. 6. Register today.

Reminder—NAWA 2024 Annual Meeting Next Week

The 2024 Network of Actuarial Women and Allies (NAWA) annual meeting will be held Nov. 21 from noon to 4 p.m. EST. The virtual event will be followed by an in-person Happy Hour in Hartford, Conn. Register today.

OUTREACH & NEWS

Actuary Voices Features Marcela Granados

The latest episode of Actuary Voices features Organization of Latino Actuaries President Marcela Granados, who shares her journey as an actuary, from her educational experiences in Mexico and at Harvard University, to her current role in consulting. Listen and subscribe to Actuary Voices wherever you get your favorite podcasts.

HealthCheck Examines Health Equity, Disparities

The Fall HealthCheck includes expanded coverage of the Envision Tomorrow breakout session on health disparities and outcomes from a health equity perspective, recent Health Practice Council issue briefs including on 2025 premium drivers, and recent legislative and regulatory activity.

Academy Presents to Clubs, Employers, and Students Across the Nation

Academy speakers addressed employers, students, and actuarial clubs across the country with professionalism education, public policy updates, and informative outreach about the Academy’s service to the public and profession:

• Committee on Professional Responsibility member Matt Wininger kicked off the education program of the Actuarial Society of Greater New York’s Fall Meeting Wednesday with the presentation, “Professionalism: Actuarial Considerations with Generative AI.”

• In a presentation at Ball State University in Indiana, ASB Immediate Past Chairperson Rob Damler walked attendees of the Midwest Actuarial Science Student Conference through the Academy’s Social Security Challenge.

• ASB Reinsurance Pricing Task Force member Bruce Stahl spoke at the Actuaries’ Club of the Southwest’s meeting in San Antonio Thursday on the standards-setting process and ASB resources and volunteer opportunities.

• Academy Senior Director of Public Policy Geralyn Trujillo presented virtually to the Middle Atlantic Actuarial Club Wednesday on the Academy’s nonpartisan, strategic public policy work in the 2024 election year, and what the results may mean for Academy workstreams in 2025. ASB Vice Chairperson Dave Neve also virtually presented to the club, highlighting the ASB’s role, recent activities, and key actuarial standards of practice (ASOPs).

• ABCD Vice Chairperson William Hines spoke Nov. 13 at John Hancock in Boston on “Professionalism Under Pressure,” while ABCD Professionalism Director Ed Lee spoke at the Actuaries Club of Philadelphia’s meeting the same day about the ABCD’s role, processes, and resources for actuaries with professionalism questions.

• Academy General Counsel and Senior Director of Professionalism Brian Jackson presented “You Are the Fulcrum of Self-Regulation” at Thursday’s Casualty Actuaries of the Mid-Atlantic Region Fall Meeting at St. Joseph’s University in Philadelphia.

The Actuarial Foundation’s ‘All for Math’ Campaign Seeks Support; Donate With Your Membership Renewal!

The Actuarial Foundation’s (TAF) All for Math campaign invites actuaries to volunteer, donate, or organize “FUNdraisers” to help young students improve their math education. TAF notes that actuaries are uniquely positioned to inspire the next generation of problem-solvers and analytical thinkers. See more at TAF’s All for Math webpage. As a reminder, Academy member renewal season is upon us and Academy members have the option and are encouraged to make donations to TAF during the annual renewal process.

• Membership renewal & matching donations—The Academy matches those donations in addition to our annual organizational funding for TAF’s programs and efforts to strengthen the actuarial pipeline. Renew your Academy membership (Invoice No. %%InvoiceNum_%%) and support TAF today in one transaction here.

In the News

C-SPAN Airs Envision Tomorrow Retirement Session

C-SPAN aired and posted the Envision Tomorrow Oct. 16 retirement session on reforming Social Security that featured Social Security Administration Chief Actuary Stephen Goss, Academy retirement volunteers Amy Kemp and Ron Gebhardtsbauer, and experts from AARP and the Bipartisan Policy Center.

PUBLIC NOTICES

Public Employment Opportunities—FEMA, PBGC

• The Federal Emergency Management Agency (FEMA) is seeking an actuary within its Federal Insurance and Mitigation Administration’s Risk Management, Actuarial & Catastrophic Modeling Branch. The application deadline is next Monday, Nov. 18. For more information and to apply, visit USAJOBS.

• The Pension Benefit Guaranty Corporation (PBGC) is seeking an actuary (multiemployer) within the PBGC’s Policy, Research, and Analysis Department, which conducts and coordinates analysis and research related to policy, including pensions. The application deadline is Nov. 25. For more and to apply, visit USAJOBS.

• The Academy supports government employers who are seeking to hire qualified actuaries. For more, see our Public Employment Opportunity Posting Policy.

• Don’t forget to visit the Academy’s Career Center for more employment opportunities.

EVENTS CALENDAR

• Dec. 3 [Webinar] Capital Markets—What Now?

• Dec. 6 [Professionalism webinar] Tales From the Dark Side 2024

• Dec. 9–10 [Seminar] Seminar on Effective P/C Loss Reserve Opinions; New Orleans

• Dec. 12 [Webinar] Surplus Considerations for Public Pension Plans

• Dec. 13 [Webinar] PBR Bootcamp: VM-31 as Seen by Regulators

Visit the Events Calendar for a complete listing of Academy events, including links to post-webinar slides and recordings via Academy Learning.