CIA (e)Bulletin/(e)Bulletin de l'ICA
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February 2018
 
 

Education and Professional Development in 2018

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By Alicia Rollo, CHRL

January is a great time to hit reset on plans and goals for the year. Last year, like all its predecessors, was a busy one and 2018 appears to be following suit.

Some Highlights from 2017

On the education front, 2017 was about new ways of operating. We signed a memorandum of understanding (MOU) on education with the Society of Actuaries (SOA), the plans for a new Practice Education Course (PEC) were formally approved, we obtained approval from the Casualty Actuarial Society (CAS) for coverage of their professionalism requirements, CIA eligibility and education requirements for the ACIA and FCIA designations were refined, and the Board approved an updated education syllabus which falls in line with the recently approved International Actuarial Association (IAA) education syllabus. In 2017 we also added communications education to our professionalism workshop and started making plans for a new PEC in 2018.  

On the continuing education front, a new policy for the delivery of continuing professional development (CPD) was approved which lays out a model for how we will deliver continuing education through the CIA’s own programs, as well as for those we deliver through partnership and co-sponsorship. We also piloted some new formats for seminars in response to member requests for shorter, local events that require less time out of the office, and we started a discussion about the need for greater continuing education courses related to IFRS 17.

Implementing Changes

As we enter 2018, it looks like the year of implementation. Beginning with our MOU with the SOA, which lays out how the two organizations will work together to ensure that SOA education and examinations will meet the CIA’s requirements, we now have CIA representatives in place on curriculum and examination committees who help facilitate communication between the two organizations and ensure alignment of processes. We are also working with SOA staff on a central area on the SOA website for Canadian candidates pursuing the ACIA and FCIA designations. The goal is to have current information about how the SOA education system helps fulfil the requirements for CIA eligibility and education requirements. Further, we will have our first annual education strategy meeting with the SOA in April. CIA leadership and staff will meet with our SOA counterparts annually to discuss both short- and long-term plans in education.

Practice Education Course

With MOUs in place with both the SOA and the CAS, the CIA now relies 100 percent on those organizations for the examination of the CIA education syllabus. This allows us to complete our transition plans for the Practice Education Course. With no examination at PEC beginning in 2018, the course is evolving while retaining some of the core elements that candidates and employers have valued since 2000. Track-specific workshops which help reinforce the practical application of the technical skills acquired through examination, plenary sessions on areas of emerging practice for the profession, as well as communications and professionalism content will be included. We are also looking at expanding the traditional PEC tracks to include an enterprise risk management (ERM) option.

Watch for registration opening in mid-February. Candidates are encouraged to register early as we expect increased demand this year as a result of the elimination of the exam. It’s important to note that the eligibility requirements have changed for PEC. Canadian-specific SOA examinations are required in addition to a two-year experience requirement. Please visit the CIA website for the most up-to-date information.

Group and Health Examination

The CIA will hold its Group and Health Examination for candidates in the SOA Group and Health track on February 22. We expect that this examination will be offered again in 2019, but that it will be phased out as updates to the SOA Group and Health track are implemented.

February Pension and Investment Seminar

February also features a half-day Pension and Investment Seminar, offered for the first time entirely in French. The seminar expands on topics presented at the November 2017 Pension and Investment Seminars in Toronto. We are extremely pleased with the response to the event which has sold out.

Annual Meeting 2018

Finally, plans are progressing well for the 2018 Annual Meeting in Toronto on June 21 and 22. The Committee on Continuing Education is working hard on finalizing the program; registration is expected to open near the end of February.

Notable additions this year include an IFRS 17 track, keynote speaker Michael Hyatt, one of Canada’s top entrepreneurs, speaking on the internet of things, and Dr. Greg Wells, self-proclaimed scientist, professor, broadcaster, and author, who has dedicated his career to understanding human performance and how the human body responds to extreme conditions. Dr. Wells’ topic will be “the corporate Olympian, peak performance secrets for business leaders”.

I would also like to welcome Leslie Lenton to the CIA staff. Leslie is project manager, education and professional development. Leslie joins our small education and professional development team which also includes Joseph Gabriel, staff actuary education, Nancy Jenkinson, manager, meetings services, and Roxanne Vézina, coordinator, education and professional development.  Our entire team looks forward to welcoming you at a future CIA event.

Alicia Rollo, CHRL, is the CIA’s director of education and professional development.

 

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