April Updates

Board

The following people have been appointed to the councils and committees named below:

The Task Force on the Implementation of the Proposed Changes to the CPD Requirements has been created, effective immediately.

The following people have completed their term with the committees named below, and have left with thanks:

The Task Force on CPD Review has been disbanded with thanks.

The Task Force on the Implementation of the Proposed Changes Regarding the Protection of the Public Interest has been disbanded with thanks.

The Task Force on Restructuring has been disbanded with thanks.

Practice Council

The Modelling Task Force has been disbanded with thanks.

The revised mandate of the Enterprise Risk Management Practice Committee (ERMPC) was approved as follows:

Mission:

To be the primary source of risk management expert guidance for the actuarial profession.

In pursuit of this mission, the ERMPC will be guided by the following principles:

  1. Any guidance published by the ERMPC is intended to capture leading practices.
  2. The ERMPC will create and promote guidance material for actuaries such that actuaries applying risk management in the course of their practice (ERM, traditional, or other areas of practice) are provided clarity and insight into the range of actuarial practice. Actuaries will not be disadvantaged relative to non-actuaries practising in risk management by upholding them to unduly burdensome requirements that are not associated with other risk practitioners, unless such requirements are necessary to uphold the integrity of the profession.
  3. The ERMPC will build on existing global actuarial guidance and resources and adapt or endorse them as needed to be applicable to Canadian actuaries who practise risk management in their professional activities.
  4. The ERMPC will engage other CIA committees to provide assistance and draw upon their specialized areas of expertise. In general, where risk management is applied to a specific practice area, the ERMPC will work with that area of practice to develop new guidelines.
  5. The committee will report to the Practice Council and will liaise and work in collaboration with other CIA committees on matters of common interest and will also draw upon other resources in the CIA, CAS, and SOA Joint Risk Management Section.

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