Actuaries and Actuarial Issues Around the World

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Presentation transcript:

Actuaries and Actuarial Issues Around the World Professionalism Issues Bob Wilcox 11/23/2018

ASB & ABCD Independence Established by Academy Bylaws Members are Actuaries Appointed by Actuarial Leadership No Official Review by Non-Actuaries Financed by Members of Profession Staffed by Academy

ASB & ABCD Independence Possible Changes Incorporate Separately Add Non-Actuaries to Selection Committee Create Advisory Committee Primarily of Non-Actuaries

Qualification Standards EXPOSURE DRAFT QUALIFICATION STANDARDS (including Continuing Education Requirements) FOR ACTUARIES ISSUING STATEMENTS OF ACTUARIAL OPINION IN THE UNITED STATES Approved by the Board of Directors American Academy of Actuaries for release as an exposure draft May 5, 2004 Comment Deadline: December 1, 2004

Qualification Standards Significantly Expand the Scope of the Qualification Standards to Apply to All “Statements of Actuarial Opinion.” No Change in 12 Hr. CPD Requirement but Hours that May come from Professionalism Increased from 25% to 33%.

CPD Requirement in Mexico 40 Hours per Year from Authorized Training Workshops Must Include 6 Hours of Legal Issues 32 Hours Must Be Evidenced by Evaluation Exams.