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

Canadian Institute of Actuaries/Institut canadien des actuaires

November 2015
Elliott Bauer
D.W. Simpson & Company
Eckler Ltd.
President's Update

 

By Rob Stapleford, FCIA
CIA President

As the November Board meeting coincided with the deadline for publication of this issue of the (e)Bulletin, I do not have an update this month. However, I will record a message in early December that will appear on the CIA website, updating members on the Board meeting and several meetings since my last video. An announcement will be made when the video is available.

We have many important topics on the Board agenda for the meeting on November 26, including discussions related to the following:

  • How the CIA serves the public interest pursuant to Guiding Principle #1;
  • The report from the Task Force on the Implementation of the Proposed Changes Regarding the Protection of the Public Interest;
  • Professionalism within the CIA;
  • The draft proposal to host the 2026 International Congress of Actuaries (ICA);
  • Reports from the Practice Council and the Actuarial Foundation of Canada;
  • The review of the CIA’s strategic focus areas and direction; and
  • The proposed mutual recognition agreement with the Actuarial Society of South Africa.

Please note that the CIA Head Office closes at noon on Thursday, December 24 and reopens Monday, January 4, 2016.

I would like to take this opportunity to wish all of you the best and continued success in 2016.

Rob Stapleford, FCIA, is President of the Canadian Institute of Actuaries.

 
In Focus

 

By Ty Faulds, FCIA

ASB Membership

The ASB is very pleased to welcome Stephen Cheng and Jacqueline Friedland to our board and to thank Jim Christie, Jay Jeffery, Luc Farmer, and Camil Lévesque for all of their support over the last several years. The current membership of the ASB includes Stephen Cheng, Ty Faulds (Chair), Conrad Ferguson, Jacqueline Friedland, Alexis Gerbeau, Edward Gibson, Laura Newman, Dave Oakden, Catherine Robertson, and Tony Williams—and on an ex officio basis, Pierre Dionne, Chair of the Practice Council and Michel Simard, Executive Director of the CIA. Please feel free to approach any of us with any suggestions or questions you might have.

International Developments

The Actuarial Standards Committee (ASC) of the International Actuarial Association (IAA) has been very active in developing model standards of practice. The ASB is committed to reviewing and amending the Canadian Standards of Practice (SOP) to ensure that work in compliance with the SOPs will also be in accordance with the International Standards of Actuarial Practice (ISAPs). Changes were made to the SOPs largely to converge to ISAP 1– General Actuarial Practice in September 2014, and we continue to monitor international developments related to peer reviews where we provided feedback to the ASC on some concerns we had with the model standard.

The ASB approved the Exposure Draft for Standards of Practice – Establishment of Social Security Practice-Specific Standards as recommended by a designated group (DG) chaired by Edward Gibson. This ED, published in October with a comment deadline of January 8, 2016, aims to incorporate the principles of ISAP 2 into the Canadian Standards of Practice by creation of a new part 7000 in our standards, as we currently do not specifically address social security.

ISAP 3 (Actuarial Practice in Relation to IAS 19 Employee Benefits) was adopted by the IAA in April of this year. The ASB has formed a DG to consider convergence with this model standard and is currently conducting a search for a chair for this DG. If you are interested in leading this group please don’t hesitate to contact me at ty.faulds@londonlife.com.

The International Accounting Standards Board is not expected to release the final version of IFRS X (Insurance Contracts) until 2016, to be effective, tentatively, in 2019. In anticipation of this, the IAA has begun working on a related ISAP 4. The ASB approved the Notice of Intent to Incorporate Principles of International Standard of Actuarial Practice 4 – Actuarial Practice in Relation to IFRS X Insurance Contracts into the Canadian Standards of Practice as recommended by a DG chaired by Simon Curtis. This NOI proposed a stand-alone approach to convergence intended to minimize the potential for unintended "in Canada" interpretations of the guidance in ISAP 4. This DG will now have to wait for the IAA publications before starting work on the ED.

A Statement of Intent (SOI) for ISAP 1A – Governance of Models was approved by the IAA in October 2015 with an expected completion date in 2017. In the meantime, the ASB approved the Exposure Draft for Standards of Practice ─ Use of Models as recommended by a DG chaired by Bob Howard. This ED, published in October with a comment deadline of December 5, 2015, covers most of the material addressed in the IAA’s SOI but does not address standards for the development of models which are proposed in the SOI. The Practice Council published a companion draft educational note to further clarify the guidance in the standards and in particular on what is or is not a model.

The ASB is following the IAA’s plans associated with Enterprise Risk Management model standards (ISAP 5 and ISAP 6) with interest and hopes to use these as a springboard to implement similar standards in Canada. The IAA published an ED for ISAP 5 – Insurer Enterprise Risk Models in October with a comment deadline of March 31, 2016. The ASB is considering commenting on this ED.

Mortality Improvements

The ASB released the Final Communication of a Promulgation of the Mortality Table Referenced in the Standards of Practice for Pension Plans (Subsection 3530) and a Promulgation of the Mortality Table Referenced in the Standards of Practice for Actuarial Evidence (Subsection 4530) in June, both with effective dates of October 1, 2015. Recent research from the UK and the U.S. has indicated some slowing down of the recent mortality improvement trends we’ve been observing. We’re following the research and developments related to mortality improvements with interest, as this assumption is a critical estimate in a number of our practice areas, including these recent promulgations. The ASB has formed a designated group to consider these developments for life insurance, chaired by Dominic Hains, as we expect changes will need to be made in this area and will consider any implications for the other practice areas as the experience is reviewed. This DG will draw heavily on the work of the cross-practice area, Task Force on Mortality Improvement, chaired by Alexis Gerbeau.

Shared Risk Pension Plans

One of the ASB priorities identified last fall was to ensure appropriate standards are in place for shared risk pension plans, and a number of DGs have this as a significant portion of their mandate.

The ASB approved the Notice of Intent – Amendments to Section 3500 of the Practice-Specific Standards for Pension Plans – Pension Commuted Values as recommended by the DG, chaired by Gavin Benjamin. This NOI is focused on a review of the assumptions underlying pension commuted values other than mortality and includes thoughts on variations for shared risk plans. A second DG focused on assumptions (other than mortality) underlying the capitalized value of pension plan benefits for marriage breakdown is expected to start work after enough progress has been made on the pension side.

The ASB has two other DGs working on pension standards with a focus on shared risk plans. Tony Williams is currently chairing a DG that is working on developing an NOI to address the calibration criteria of pension stochastic models. Existing actuarial standards do not address the volatility associated with stochastic modelling of investment returns for pension funding. The DG will not be mandating a particular stochastic model for investment returns, but rather (as with life insurance) will prescribe calibration criteria for the outputs of any stochastic model used. Geoffrey Melbourne is chairing a DG that is also working on developing an NOI to review pension valuation disclosure standards as they relate to shared risk plans, target benefit plans, and stress testing. These groups will need to work closely together to ensure consistency.

Continued Low Interest Rates

A continuation of the low interest rate environment has prompted the ASB to monitor these developments closely and consider the frequency of updates to the related promulgations for the life insurance practice area. We are working through a process to review research on these annually with the Committee on Life Insurance Financial Reporting.

Business-as-Usual Projects

As part of our strategies, the ASB is committed to routinely reviewing all standards on a rotating basis. Under this initiative, the ASB approved the Notice of Intent – Revisions to General Standards (Part 1000) as recommended by the DG, chaired by Paul Della Penna and the Notice of Intent to Revise the Practice-Specific Standards for Insurance (Part 2000) as recommended by the DG, chaired by Josephine Marks, both issued in June 2015. These DGs are considering the feedback received and are well along in drafting EDs, hopefully to be released early in the New Year.

Ty Faulds, FCIA, is Chair of the Actuarial Standards Board.

 
Actuaries on the Move

Cindy Forbes, executive vice-president and chief actuary at Manulife, has been recognized as one of Canada’s most powerful women by the Women’s Executive Network (WXN). She was recognized in the corporate executives category for excellence in management, vision and leadership, corporate performance, and community service. This is the second time Ms. Forbes has won this award.

The WXN also placed Mary Forrest, President and CEO, North America (life) at Munich Re in its list of Canada’s top 100 most powerful women. Under Forrest’s leadership, Munich Re has become the largest mortality risk-taker in the Canadian market.

Andrew Fung has joined Morneau Shepell as a partner in its Ontario retirement solutions practice. He will work with Morneau Shepell's public sector experts to leverage pension expertise from across the country and provide integrative solutions for public sector clients in Ontario.

Munich Re has appointed Marc-André Giguère as senior vice-president, inforce management for the North American life business. He will be responsible for providing leadership and direction for inforce treaty management, as well as strategic capital and tax management planning for Canadian and U.S. life operations. 

The board of directors of Reinsurance Group of America (RGA), elected Anna Manning as President and CEO. 


Networking is a key part of any successful professional's career, and the CIA is offering you a fresh opportunity to inform your peers about your achievements and progress.

Our (e)Bulletin section, Actuaries on the Move, is a chance for you to publicize your new job, title, credentials, or other information. This is an opportunity to tell thousands of fellow actuarial professionals—whether they are ex-colleagues, former college friends, potential employers, future clients, etc.—about, for example:

  • Your new job;
  • A change of title or area of responsibility;
  • Your new qualifications;
  • A change of contact details;
  • Awards or other recognition; or
  • Publication of academic papers or articles.

Simply send an e-mail—one line of information can be enough, but feel free to add more if you so wish—to the CIA's English Editor at bonnie.robinson@cia-ica.ca and we will aim to include it in the next issue of the (e)Bulletin.

For more news of CIA members and their activities, follow the CIA on Twitter.

 
Insight Decision Solutions
Public Utilities Board
On the Horizon


By Jean-Yves Rioux, FCIA

In September 2015, the CIA formed a new committee to promote the role of actuaries in the field of predictive modelling. If you work in the predictive modelling arena, we would like to hear from you. We are looking for volunteers to make sure actuaries claim their role in this evolving field.

Predictive modelling is a set of tools and techniques used to describe, predict, and recommend business courses of action that take into account consumer, provider, and distributor behavior which draws on many disciplines: statistics, modelling, optimization, clustering, and market research. Predictive modelling applications are numerous and cover aspects that span sales and marketing, underwriting, inforce management, claims management, pricing/reserving, and experience analysis. For example, predictive modelling can be used to identify policyholders most likely to surrender their life insurance policy, or third-party information can be used to assess and underwrite auto insurance risks. The increased use of telematics in auto and life insurance has the potential to create large databases that may lend themselves to predictive modelling work.

The mission of the Predictive Modelling Committee is to promote the application of the actuarial skill set to predictive modelling and to market actuaries as skilled experts in this field. More specifically, the committee will do the following:

a) Promote the role of actuaries in the predictive modelling field both within and outside the profession;

b) Identify needs for new research in the field of predictive modelling that will draw attention to the work of actuaries;

c) Communicate existing research and case studies of work in the field through various media (presentations at meetings, webcasts, CIA website, etc.); and

d) Influence the education curriculum and Continuing Professional Development (CPD) offerings to include relevant predictive modelling techniques.

In order to achieve these goals, we will, in addition to organizing CPD sessions, communicate applications, key techniques, and tools to actuaries interested in the practice.

It is an exciting time to participate in the advancement of this practice. If you want to join us, please volunteer through the Volunteer Applicant Registry (you first need to open a session in the members' site to access this link) and, if you wish to know more, please contact me at jean-yves.rioux@deloitte.ca.

Jean-Yves Rioux, FCIA, is Chair of the Predictive Modelling Committee.

 
Institute News

 

By Elliot Hughes

On Tuesday, November 10, the CIA released its latest public position, this one on the Canadian retirement system and what steps are required to ensure that the needs of Canada’s future retirees are met. The paper relied on the knowledge and insights of some of Canada’s leading pension actuaries, with the solutions put forward offering a well-lit path. The paper was well-received by governments, interest groups, and the media alike.

But how did the public position come together? Who decided on the topic? Who wrote and reviewed it? And where was it sent? The purpose of this piece is to answer some of those questions while providing greater insight and transparency into how CIA public positions are made.

At its core, a public position, and the policy that sits behind it, is meant to establish and document the views of the Institute. A public position could emerge in response to a call for input (e.g., a government consultation), as a reaction to an issue or event (e.g., long-form census), or as a proactive statement (e.g., national pension champion). But the form the response takes isn’t what matters most. What matters is the content and how it is decided upon. Only after the content has been agreed upon, and with the help of the CIA’s internal and external experts, is a decision made about which communication tool is most appropriate to reach its intended audience.

Before going further, it is worth explaining who the policy on the approval of public positions is for and what the approval process does not apply to. First, the policy is for use by the Board, the CIA Public Positions Committee (PPC), and other Institute bodies (i.e., councils, committees, designated individuals) tasked with drafting positions on behalf of the Institute. The policy does not, however, apply to material covered under the Policy on the Approval of International Submissions, or the Policy on Due Process for the Approval of Guidance Material other than Standards of Practice and Research Documents. Additionally, it does not apply to committee or task force reports or research reports. With that covered, let’s move on to how a position is developed, approved, and distributed.

The need or interest in developing a public position tends to materialise through one of three ways: a government consultation announcement, a news story or event, or a request from a CIA member. In the case of the recent pension position, it emerged out of a federal government consultation on Canada Pension Plan (CPP) expansion and the desire to position the CIA in light of political commitments made during the federal election. From these requests, the President and Executive Director determine whether it is appropriate for the CIA to develop a public position. If both individuals approve, they turn their attention to appointing a drafting entity made up of CIA members. These members will most likely have specific expertise in the topic or practice area, though they may also have an understanding of the specific regulatory environment or simply be interested in the topic. In some cases, we may even choose an existing CIA committee to serve as the drafting entity if their area of expertise aligns with the subject matter. Needless to say, the drafting entity is always made up of highly qualified, dedicated, and well-intentioned members. With the pensions position, that drafting entity was made up of 10 experienced industry experts, who have been involved for years in the design, administration, and funding of private and public pension plans.

To ensure Board oversight, the President, if he or she wishes, may serve on the drafting entity. If the President chooses not to serve on the drafting entity, they must be part of the authorizing committee which consists of at least three CIA members (under certain circumstances, this number could be higher). Again, like the drafting entity, the authorizing committee tends to be made up of members with a related set of knowledge and background. In fact, the approval policy calls for at least two such members, and explicitly calls for one member to be from outside the practice area. When a public position is not related to a particular practice area, that requirement can be waived.

With help from the CIA Head Office, the public position is shared with all members of the PPC, who provide their comments to the authorizing committee. The authorizing committee is then asked to render one of three decisions:

i. Approve the public position as written;

ii. Approve the public position subject to minor editing; or

iii. Return the public position to the drafting entity for further editing, along with the reasons for the return.

It’s worth mentioning that the authorizing committee may not modify the public position, alter the message, or substantially change the content. This process ensures that the group tasked with drafting the position—those with the experience and knowledge in that particular practice area—are the ones developing the position. However, what makes this policy so robust is that it also ensures the President is involved in every public position. The authorizing committee for the pension position was made up of five members (an increase from the usual three).

Once changes have been made and the position finalized, it is sent to the CIA Head Office and prepared for distribution. To be clear, it is the drafters and the drafters alone who decide on the content of the position, with the role of CIA Head Office restricted to formatting, editing, and translation. Published and distributed in both official languages pursuant to detailed procedures outlined in the approval policy’s appendix, the goal is to distribute the position to the appropriate audience, be it the public, a government agency, or the press. Importantly, it also means notifying CIA members, usually through the weekly announcements and in both official languages, to ensure members are kept up to date on the Institute’s activities. Positions are then discussed in various formats such as webcasts, the General List, or annual meetings. Feedback is not only expected, but welcomed.

Finally, in some instances public positions require the appointment of spokespeople who can communicate the position to the press or an external body on behalf of the Institute. These individuals are designated by the President and Executive Director and are empowered to speak on behalf of the Institute and represent, to the best of their ability, the spirit and intent of all public positions approved by the Institute. Yearly updates are conducted on both the list of authorized spokespeople for each public position, as well as the public positions themselves, to ensure we remain current. In the case of the pension position, the primary spokespeople were Rob Stapleford, President of the CIA and Michel St-Germain, Chair of the Pension Advisory Committee (PAC). Providing additional support were various other PAC members, who are comfortable in both official languages.

We hope you found this article informative and the process robust. For more information, please visit the Policy on the Approval of Public Positions on the CIA website. Alternatively, you can contact Chris Fievoli, the CIA’s resident actuary and staff member charged with supporting the PPC’s work. Finally, we encourage you to visit the CIA’s Outreach page where you can review past positions, submissions, and resources.

Elliot Hughes is public affairs manager at the CIA Head Office.

 


by Marie-Eve Bourgault 

The academic field can seem a strange place for an actuary, being a non-traditional area of practice. And yet, it is important to forge links between students and professionals in the labour market. With that in mind, Frédérick Guillot, manager, research and analytics, P&C business intelligence (Canada) at Co-operators, founded the Actulab event. I had the chance to talk with Mr. Guillot, who spoke enthusiastically about this ambitious project.

1. What is Actulab?

Actulab is an event that provides students, professors, and professionals the opportunity to team up, regardless of their field of expertise, in order to solve practical problems raised by the event’s partners from a variety of industries. The objective is to bring actuarial studies and actuarial practice closer together and to combine research with practice. While Actulab is a problem-solving competition, Mr. Guillot hopes that it becomes a not-for-profit organization someday. This day-long event takes place at a host university. In the morning, one of the industry partners presents the group with the problem. There is a workshop in the afternoon, and students submit their results online at a later date. According to Mr. Guillot, this is a great way to encourage interaction with partners and potential employers. There is also a monetary prize for the winner. The atmosphere is ripe for experimentation. Actulab can even be considered as a course, since the student participants receive university credit for their work.

2. Where has Actulab been active recently?

The Actulab event was created only in March 2014, but already has succeeded in bringing the Université Laval, the University of Waterloo, and the Université du Québec à Montréal on board. Organizers are currently seeking partners for the 2016 edition.

3. What do you hope to accomplish with this event? Will it have spin-offs? If so, what will they be?

Mr. Guillot’s vision for Actulab is to see the event adopted on a Canada-wide basis. In that vein, he would like to encourage universities to organize an event themselves in order to better connect actuarial partners, employers, and students.

4. How has Actulab developed since its creation? Are you satisfied with how the event has grown?

Mr. Guillot is very satisfied with how Actulab has grown. He wants the focus to remain on the students and to get them more involved. He is also pleased to be receiving so much support from universities. He has, in fact, been approached by several companies wishing to submit problems to the students.

5. What, if any, challenges has the organization faced? How have you overcome them?

The challenges faced by Actulab had to do with the event’s rapid pace of development and the low industry participation in the past. Mr. Guillot has managed to overcome these challenges by expanding the event network, making presentations at suitable opportunities, and encouraging students not only to propose a solution, but to interact with future employers. Mr. Guillot wants Actulab to become a sort of springboard for students transitioning to the labour market. The challenges he is currently tackling are in the areas of recruitment and networking in order to attract more participants. A longer-term objective will be to manage issues involving intellectual property and define who holds it. The employers? Actulab? The students? The answer has yet to be determined.

6. How is Actulab making a difference? What type of feedback have you received from those who have benefited from the event? What has been said by the actuaries who participated with the students or who made presentations?

Actulab stands apart for the way it encourages students to find new means of solving problems. Mr. Guillot is open to innovative ideas and to sharing them. When he met some of the participants, they told him that they had found jobs thanks to Actulab. And indeed, this experience looks really good on a résumé, he adds. In fact, that is how certain potential employers first learned of Actulab.

7. What do you think of the CIA’s University Accreditation Program (UAP), specifically regarding strengthening the ties among actuaries, students, and universities?

Mr. Guillot is a big supporter of the UAP, since it trusts universities through CIA accredited courses. Mr. Guillot had the idea of linking the UAP with Actulab if and when the latter is run on a Canada-wide basis. And who knows, maybe incorporate Actulab into the CIA at some point down the road?

8. What are your plans for the future?

The short-term objective is to increase traffic to the Actulab website. It is mostly Mr. Guillot who administers the website, and he wants to further develop the virtual interaction between students and employers. The event could even be held entirely online! In fact, there was a trial run during the summer, with a test problem. The winner was invited to a golf tournament with the partners that suggested the topic. The end goal is to attune actuaries to the idea that they don't have to work in traditional fields of the actuarial practice.

In the longer term, and in the event that Actulab becomes Canada-wide, Mr. Guillot would like the event to become a national competition that encourages cooperation between students and employers. And still further down the road, he would like to see the winners get hired so they can deepen their research on the problem they were working on during the event and apply their solution in actuarial practice.

9. Do you have anything to add? 

Mr. Guillot would like to thank the CIA for its terrific financial support of Actulab. If you wish to take part in the upcoming Actulab competition or become a partner, feel free to contact him at frederick.guillot@cooperators.ca. Please visit the Actulab website at http://www.actulab.ca/ to learn more about the event.

Marie-Eve Bourgault is the French editor at the CIA Head Office.

 


The latest issue of Seeing Beyond Risk, the quarterly electronic publication, is now available on the CIA website. Each issue features contributions from well-known names in actuarial science and experts in the field, writing about topics suggested and honed by the CIA Editorial Panel, readers, and Institute members.

This issue features an article from Stéphane Levert, FCIA, FSA, who looks at the crisis facing Canada’s health care system, and what governments can do to address this problem. In 2013, Stéphane authored a research paper sponsored by the Society of Actuaries and the Canadian Institute of Actuaries in which he used a demographic approach and the application of actuarial techniques to directly capture the increase in health care costs associated with an aging population. The article in Seeing Beyond Risk goes beyond the original paper to examine the viability of Canada’s universal health care system in the face of spiralling costs and an aging demographic.

As the population ages and health care costs rise, governments face provincial health care expenditures that are outpacing the inflation rate by more than 2 percentage points. Stéphane explores the question of how to fund, and even contain, growing health care costs, which could rise to more than 100 percent of a province’s available revenues by 2037.

We are sure you will find this article informative and thought-provoking, and we encourage you to distribute it among your friends and colleagues.

 
Events News

 

In early November, the CIA hosted two seminars: the Pension Seminar and the Investment Seminar.

This year, over 150 people attended the Pension Seminar in Toronto. The seminar featured a variety of sessions covering a wide-range of topics, including Canadian longevity risk transfer transactions, legal issues that plan sponsors and their advisors should be aware of, and a case study on new Ontario laws governing the transfer of assets between registered pension plans. Participants also heard updates from the Actuarial Standards Board (ASB), the CIA Committee on Pension Plan Financial Reporting (PPFRC), and the deputy superintendent of pensions at the Financial Institutions Commission of British Columbia. President Rob Stapleford presented an overview of the CIA's recent pension position.

Canadian figure skater Joannie Rochette gave a very interesting keynote speech on overcoming challenges. Her experience as a six-time national champion and Olympic bronze medallist showed focus, determination, and commitment—similar, to some extent, to what actuaries go through during their qualification process.

The next day, over 70 people attended the Investment Seminar, also in Toronto. During the seminar, speakers outlined how climate change is becoming an essential consideration of portfolio management. There were interesting presentations on the rise of liquid alternatives to recoil from the market losses of 2008. Speakers also shared long-term perspectives, following the past 10 years of roller coaster rides for financial markets and the world economy. Also, given the current very low interest rate environment, strategies were presented in case of rate increases. Finally, presenters discussed impacts on investments following new legislation in several jurisdictions that change the pension landscape.

 
Five Questions

Jill Knudsen, ACIA

1. How do you spend your free time?

I love to golf and to cook, so I spend most of my free time playing golf or cooking elaborate meals with friends. I also love to get out sailing and hiking as much as I can in the summertime and to curl up with a good book when it's not so nice outside.

2. If you could meet any person, living or dead, who would it be and why?

Issac Asimov. His books are so original and creative; I'd be fascinated to meet the person who thought up the crazy stories that he's come up with.

3. What skill do you wish you had?

I wish I was fluent in another language. I am always so envious of people who have been exposed to many different languages because I find languages so difficult to pick up. Some golf skills would be nice too!

4. How would you like to be remembered?

As someone who worked hard for what they had in life, was dedicated and motivated but also generous and caring.

5. If you could go back in time, what year would you travel to?

Ancient Greece. The Greeks excelled in mathematics and in astronomy, both of which are fields I find fascinating. Their mythology was also very interesting, especially in how it reflected the values and culture of the times.


Is there something about yourself that your colleagues would be surprised to know? To take the Five Questions challenge and appear in an upcoming issue of the (e)Bulletin, contact Bonnie Robinson, CIA English editor, at bonnie.robinson@cia-ica.ca.

 
Volunteers on the Move

Board

 The membership of the following task force for 2015–2016 has been approved, effective immediately:

  • Implementation of the Proposed Changes Regarding the Protection of the Public Interest: Dave Dickson, Chair, David Congram, Maxime-Frédéric Brochu-Leclair, Jean-François Poitras, Kim Young, and François Boulanger.

Eligibility and Education Council

The following people have been (re-)appointed to the (sub)committees named below, effective immediately unless otherwise indicated:

  • Practice Education Course (PEC) Organizing Committee: Erin Crump; and
  • Subcommittee of the PEC:
    • Group Benefits Exam Subcommittee: Erin Crump (Chair) and Kateri Laneuville.

The following person has completed his term with, or resigned from, the groups named below, and has left with thanks:

  • PEC Organizing Committee: Michael Correa; and
  • Group Benefits Exam Subcommittee of the PEC: Michael Correa (Chair).

Practice Council

The following people have been (re-)appointed to the (sub)committees named below, effective immediately unless otherwise indicated:

  • Committee on Life Insurance Financial Reporting: Marie-Andrée Boucher, Christopher Piper, and Andrew Ryan, effective October 30, 2015;
  • Committee on Pension Plan Financial Reporting: Mary Kate Archibald, effective January 1, 2016;
  • C-1 Survey Subcommittee of the Committee on Investment Practice: Ashley Goorachurn (Chair), effective February 9, 2016;
  • Investment Symposium Organizing Subcommittee of the Committee on Investment Practice: Daniel Klein (Chair), effective May 1, 2015; and
  • Committee on Workers’ Compensation: Julie Bélanger (reinstated).

The following people have completed their terms with, or resigned from, the groups named below, and have left with thanks:

  • Committee on Life Insurance Financial Reporting: Dominic Hains, Michael Hayes, and Josephine Marks; and
  • Committee on Pension Plan Financial Reporting: Kiersten Johnston. 

Member Services Council

The following people have been appointed to the (sub)committees named below:

  • Editorial Committee: Scott McGaire (Vice-chair) and Caroline Rendall, both effective August 6, 2015;
  • Pension Advisory Committee: Gaétan Ruest and Jason Vary, effective October 23, 2015;
  • Subcommittees of the Research Committee:
    • Group Life and Health Experience Subcommittee: Stephanie Banfield, effective September 1, 2015; and
    • Segregated Fund Experience Subcommittee: Yan Decelles, effective September 30, 2015.

The following people have completed their terms with, or resigned from, the groups named below, and have left with thanks:

  • Group Life and Health Experience Subcommittee: Debra Shelley, effective September 1, 2015; and
  • Segregated Fund Experience Subcommittee: Tommy Thomassin and Mark Kropf, effective September 30, 2015.

 
Head Office Update


By Les Dandridge

The CIA Communications Committee is conducting a survey of the Member Listening Group regarding the CIA website. While working with the committee on this project, it struck me that members would benefit from a quick tour of the website, where you can find interesting tools for actuaries and information for the general public.

Home Page, Public Site

 

Postcards: The first item visitors see on the site are graphic postcards which will lead you to current research papers, publications of note, and video updates from the CIA leadership. A single click takes you to the material.

Quick Links: Among the interesting selections here are two special destinations—Most Viewed Publications and Most Recent Publications. The Report on Canadian Economic Statistics 1924–2102: Final Release: Tables has been viewed over 1,800 times since it was posted in 2013. On the Most Recent Publications page, a number of edited transcripts from the Annual Meeting have been posted, along with the semi-annual Discipline Report.

 

News Service: The bottom of the home page has a News Service link. The Institute subscribes to a news aggregation service which scans 50+ Canadian media outlets and news providers for over 100 English and French search terms. Each morning, CIA staff look through the 200–400 headlines generated, and choose ones that might be of interest to CIA members. For example, with the search term "retirement", the service captures stories on retirement planning, pension legislation, retirement programs being reviewed, and the retirement of baseball players and other sports professionals. We drop out the sports references and corporate financial reports, but leave retirement stories relating to actuarial practice.

 

Links: At the top right of the page, there is an area for links. If you need to connect with a North American actuarial association, its website link is on this page. Looking for actuarial associations in France, Hong Kong, Spain, or Australia? This page has links to them. Other submenus include links to actuarial clubs in Canada, actuarial employers, information sources, and publications.

Search tool: At the very top of each page is a simple search tool. By simple, I mean that it looks at documents that are available to the public and not part of the publications database. (There is a separate search engine for publications on the members’ site.) For example, you may be interested in a presentation made by a member at the Pension Seminar a few years ago. By entering the member’s name in the search tool, you may be able to narrow your search to a specific year, or even find a link to exactly the presentation you are looking for.

 

Actuarial Jobs Bank: Many firms take advantage of this information page on the website to share details of actuarial positions they are recruiting for. As of the date this article is being written, there are positions in Montréal, Calgary, London, Québec City, Kingston, Toronto, Ottawa, and Moncton.

 

Home page navigation: From anywhere on the CIA website, public or members’ site, you can get back to the public site home page by clicking on the CIA logo at the top left of all screens.

Home Page, Members’ Site

 

Extra menus: Once logged in, you will see a group of five new menus in the pale blue bar that contains all of the web items that only members can access. These items include all of the committee web pages and committee members, your own member profile (where you can make changes to your membership information, Continuing Professional Development (CPD) information, and e-mail addresses for list subscriptions), a lookup directory of all members, and the elections area.

 

Quick Links: Providing shortcuts to important web pages is the focus of the Members’ Quick Links. Fast access to your CPD information, Standards of Practice, and guidance material are the highlights.

 

External Resources: This button, in the lower right of the member home page, leads to a series of powerful tools and resources for actuaries.

These are just a few of the resources and shortcuts that are part of the CIA website. The more you use the site, the more you will understand the depth and robustness of this professional resource.

As always, if you have suggestions about making the site better, please send them to les.dandridge@cia-ica.ca.

Les Dandridge is CIA director, communications and public affairs.