CIA (e)Bulletin/(e)Bulletin de l'ICA
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January 2017
 
 

December Board Meeting

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By Dave Dickson, FCIA
CIA President

Our December 8 Board meeting had a very busy agenda with an emphasis on strategic items. 

Focus Groups

The night before the Board meeting, several Board members attended two focus groups, held as part of our project to improve member engagement and communications. 

The CIA has partnered with Ipsos, an independent market and social research company, to conduct focus groups to better understand the thinking and preferences of CIA members on many important topics. The first two focus groups took place on December 7 in Toronto, with two more planned for Montréal, and others for the rest of Canada. Participants provided views on various issues such as engagement, volunteering, our education system, and the importance of the CIA to members’ work and careers. The Board received a brief summary of the results at its meeting and will get ongoing reports as the focus groups are held.

Risk Appetite

The Board meeting began with a review of the principles which will drive the CIA's risk appetite. The Board felt that it is important to have these principles to help with strategic decisions. Once completed, they will be made available to members.

Public Statements

Draft changes to bylaws 19.01 and 19.02, dealing with public statements, were approved. These will be part of a package we will provide to members early in the new year that will include the revised bylaw wording, the final version of the Policy on the Approval of Public Statements, as well as a summary of the comments received during the consultation, along with responses to these from the Governance Committee and the Board.

The amendments will be put before the members formally for confirmation at the CIA Annual Meeting in June 2017 in Québec City, rather than at a special general meeting of the members in February, which was an option that the Board had considered. Proxy voting will be permitted. 

Corporate Governance

The CIA has a strategic objective to review and recommend changes to our corporate governance. This involves the Board and how it works, our councils, and committees. The Board discussed a proposal from the Governance Committee for a new CIA structure, and made some suggestions which will be incorporated into the next draft. This project is expected to take a few years to complete, with improvements implemented along the way.

ASOC, ASB, and an International Ambassador

Reports from the Actuarial Standards Oversight Council (ASOC) and the Actuarial Standards Board (ASB) were received and discussed.

Our International Relations Council introduced an international strategy which was approved by the Board. Part of the strategy included the creation of an international ambassador who will be our main representative at International Actuarial Association (IAA) meetings. CIA past President Micheline Dionne was appointed to this role.

Strategic Plan and CPD Task Force

An update was received on how we are doing with our strategic plan. Everything is going well and a lot of progress has been made since the plan was approved earlier this year.

Our Continuing Professional Development (CPD) Review Task Force presented a report on changes to our CPD processes. The Board approved the draft for release to members for comments.

Looking Back at 2016

The Board briefly reviewed 2016 and members were pleased with the progress that has been made. Early in the year, we approved a revised strategic plan, and added other projects such as our member engagement and communications strategy. We have made a great deal of progress on these and other key initiatives. The Board thanked our Head Office staff for all their hard work in 2016. Also, we would like to thank our army of volunteers for all the great work they contributed in 2016. To everyone, we appreciate all of your efforts in 2016, and here's to a successful 2017.

Dave Dickson, FCIA, is President of the Canadian Institute of Actuaries.

 

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