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Enhancements to the Associate Status in the Institute – bylaw changes

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By Jason Vary, FCIA

Further to my article in last month’s (e)Bulletin regarding the overall enhancements for Associates in the CIA, the purpose of this piece is to provide more details on the most significant changes; specifically, the ACIA designation and voting rights.

ACIA Designation

It is the view of the Associateship Implementation Task Force and Board that the ability to attain and proudly display the ACIA designation would be a significant benefit to actuarial candidates in Canada who have achieved the ASA, ACAS or CERA designation. It will also provide individuals with the opportunity to achieve an Associate-level designation through the CIA’s University Accreditation Program (UAP). Until the Society of Actuaries (SOA) and Casualty Actuarial Society (CAS) recognize the UAP, this may be the only route to an Associate-level designation for some actuarial candidates in Canada.

Introduction of the ACIA designation will encourage actuarial students to enrol earlier, giving them access to the professional guidance that will strengthen their careers and their potential contribution to the Institute. An ACIA designation supports the goal of aligning the eligibility requirements for an Associate of the CIA with those of the SOA and CAS.

It is also noted that in addition to the U.S., the UK and Australia both have Associate-level designations. Further, in discussion with the UK regarding the renewal of our mutual recognition agreement (MRA), an MRA at the Associate level has been proposed, which they have initiated with other actuarial associations.


Voting Rights


The task force and Board believe Associates who have been enrolled in the CIA for five or more years have demonstrated their commitment to the profession and should be rewarded with additional rights and privileges, such as voting.


It is noted that in 2008 the SOA extended voting rights to ASAs who had been enrolled for five or more years.

Rights of Fellows

While there are a number of enhancements being implemented for Associates, the rights of Fellows are still clearly paramount:
  • Fellows will continue to hold the only membership status which will qualify as the "reserved role".
  • In accordance with the Policy on the Use of CIA Membership Titles and Designations, the term "actuary" is only to be used in reference to a person who is a qualified Fellow.
  • Only Fellows will be permitted to run for office (i.e., President, Secretary-Treasurer or Director).
Bylaw Changes

In order to implement the ACIA designation as well as the granting of voting rights for Associates after five years, bylaw changes are required which need to be confirmed by members. A membership vote will take place at the CIA Annual Meeting on June 29–30, 2011 in Ottawa. A proxy voting period will be available in advance.

For More Information

More information will follow, including official notice of the proposed bylaw changes and a webcast, as we approach the Annual Meeting.

Feedback Requested

We encourage you to provide feedback on the above enhancements for Associates to associatechanges@actuaries.ca.

You may also participate in the discussion related to the bylaw changes on the Amendments listserver by opting in. As a reminder, you can update the lists that you subscribe to in the Members Site of the CIA website.

Jason Vary, FCIA, is Chair of the Associateship Implementation Task Force.

 

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