Message from the Executive Director

 

By Michel Simard, CIA Executive Director

Once again, the CIA had a very busy year as it moved forward with ongoing projects and initiated a number of others.

Board Activities

The Board oversaw a number of internal and external projects, including the Bylaw amendment on the Disclosure of Criminal Convictions, implementation and testing of a customer relationship management (CRM) system, and a trilateral cross-border discipline agreement (Canada-USA-Mexico).

Public Positions and Submissions

During the year, we made over 14 submissions to various governments and organizations across the country. We published public positions on public pension plan reform, a national pharmacare plan, and the expansion of public pension plans, and published several research projects. We met with government officials in June regarding the CPP, and presented to the House of Commons Standing Committee on Justice and Human Rights regarding Bill S-201, An Act to prohibit and prevent genetic discrimination.

Actuaries Climate Index

Late November saw the launch of the Actuaries Climate Index (ACI), a joint project among the CIA, the American Academy of Actuaries, the Casualty Actuarial Society, and the Society of Actuaries. The ACI is a quarterly measure of changes in extreme weather events and sea levels, based on analysis of quarterly seasonal data for six different index components collected from 1961 to winter 2016, compared to the thirty-year reference period of 1961 to 1990.

Membership

In 2016, we welcomed 274 new Associates and 143 new Fellows to the Institute. We granted two Chartered Enterprise Risk Analyst (CERA) designations. This past year the Institute implemented an annual fee of $65.00 for retired members. While we were sorry that some decided not to renew their membership, most wanted to maintain their connection to the CIA.

Education

In August, the CIA published its first-ever educational syllabus. It is the basis for qualification requirements for Associate (ACIA) and Fellow (FCIA) membership in the Institute. The syllabus will continue to evolve over the coming years as it is updated to reflect the new education syllabus of the International Actuarial Association (IAA) and in response to emerging skill sets and areas of practice.

Continuing Professional Development

Over 390 members attended the Annual Meeting in June, held in St. John’s, Newfoundland in conjunction with the Joint IAA Colloquium. Close to 600 members attended the Appointed Actuary, Actuarial Evidence, Pension, and Investment Seminars. We hosted 22 webcasts, of which 8 were free.

Looking Ahead to 2017

Next year will continue to be busy for the Institute, as the Board examines its governance structure, determines possible topics for public positions, and oversees the future of CIA education. We are implementing a new communications strategy that, combined with the CRM system and other technology, will allow us to improve delivery of our digital communications. The Practice Education Course (PEC) is under review; big changes coming in 2018 will be announced early in 2017.

Thank you to our volunteer members and the CIA Head Office staff for their hard work over the year serving the Institute and the profession. The Institute could not accomplish the things it does without their dedication.

I wish you and your loved ones all the best for the holiday season, and a happy and prosperous 2017.

Michel Simard is the CIA’s Executive Director.

Canadian Institute of Actuaries/Institut canadien des actuaires
http://www.cia-ica.ca/