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

A Busy Start to 2018

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By Sharon Giffen, FCIA
CIA President

So far in 2018, there has been significant activity on several CIA fronts. I am happy to share with you a few examples of what we have been up to.

Public submissions: The Public Statements Committee has responded to several requests for input this year (level 1 public statements). Topics and respondents have varied significantly, requiring that the committee draw from a broad cross section of membership to assist in drafting and reviewing. Please have a look at the article in this (e)Bulletin on this topic, and read the submissions that are relevant to your area of practice.

Education matters: Enrolment for the Practice Education Course (PEC) 2.0 is underway and we are on track for record enrolment this year. The exam for the group track has been administered, and there are some candidates anxiously awaiting results to see if they too can join the PEC group. Thanks to the many volunteers who have made this happen and to Head Office for organizing the meeting and speakers for this first no-exam capstone event.

Annual Meeting: Planning is well underway for our Annual Meeting to be held in June in the beautiful city of Toronto. I will not steal any thunder from the organizing committee, but I have had a sneak peek at the agenda and am thrilled to say that they have covered a very broad range of topics—there will be something for everyone. We look forward to welcoming you.

Elections: The Elections Committee is busy searching for candidates for Board positions (President-elect and Directors). This is your chance! If you have thought about running, please do reach out to learn more. I think any member of the current Board would be happy to discuss their experiences to date. Certainly I can speak to the intrinsic reward of the presidential term. While it can be busy at times, there is a deep satisfaction in serving the profession.

Governance: Our consultation period on governance matters is now closed; the team is considering the input we received and will make some modifications to the proposal before exposing it again. You may recall that topics in this consultation included the size of the Board, the creation of a reserved role for a newer FCIA on the Board, allowing ACIAs to run for the Board, and voting procedures for CIA general business. We will present a final proposal to the Board in March, and if approved, this will go to the membership for voting in June.

Restructuring: You will note that we now refer to the restructuring or reorganization separately from the governance matters—restructuring refers primarily to the creation of the Actuarial Profession Oversight Council, an expansion of the current Actuarial Standards Oversight Council, to include public elements in oversight of the qualification and discipline processes, thus centralizing all the functions that are required to regulate the profession. Additionally, there is a proposal for reorganizing the councils and their committees to ensure the Board has good insight into key areas of strategic importance and those where we are spending significant funds to further the profession. This consultation period (you must log in) is still open (until March 12); free webcasts on the subject in English and French are scheduled for March 5. We have received a good number of comments, but I always look for more.

Head Office: Our Head Office team has been working to install a new customer relationship management system (simultaneously with all their normal deliverables). While we all look forward to an implementation date, like many large IT projects, there are some challenges. A special committee of the Board has been tasked to oversee our next steps.

Get engaged: I cannot close without my usual pitch to get involved. Volunteering is one way to be involved, but not the only one. Providing your input to one of our consultations is an easy way to be heard without a significant time commitment. And in the upcoming elections, please vote! Even if you don’t know the candidates personally, read their statements, ask questions, and consider who is best positioned to speak for our diverse profession.

Sharon Giffen, FCIA, is President of the Canadian Institute of Actuaries.

 

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