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

Canadian Institute of Actuaries/Institut canadien des actuaires

November 2017
Elliott Bauer
D.W. Simpson & Company
Eckler Ltd.
President's Update

By Sharon Giffen, FCIA
CIA President

This past month, I have been honoured to represent the CIA at two gatherings of actuaries: the International Actuarial Association’s committee and council meetings in Chicago, and the Society of Actuaries’ annual meeting in Boston. 

IAA Highlights

I attended a seminar on population mortality issues around the world. Canadians are deeply involved in the work, and the results have been surprising to me. (Through its Research Executive Committee, the Institute is co-sponsoring the Institute and Faculty of Actuaries’ Modelling, Measurement and Management of Longevity and Morbidity Risk project.) Mortality improvements which we have come to take for granted are slowing in many countries; in some demographic segments, they have actually reversed. This is an issue for social programs around the world to watch carefully.

Much work continues on matters relating to the adoption of IFRS 17, which will impact insurance companies, both life and property and casualty (P&C). Groups are involved from multiple sectors, and Canadians are helping to drive towards the establishment of standards and guidance. It is our expectation that this work will be foundational to developing made-in-Canada standards for use by FCIAs. 

At many other committee meetings Canadian actuaries play important roles to ensure that a Canadian perspective is provided. Additionally, we benefit from knowing what else is going on in actuarial circles around the world. 

I also attended a session discussing the issues with diversity in the actuarial profession. While I am not complacent about diversity issues in Canada, we can be certain that we have the benefit of many years of seeing reasonable equality in opportunities with respect to gender and race, compared to our counterparts in other countries. I know we are far from perfect, but we are in a profession that is quite open to accrediting anyone who can fulfil the academic and work experience requirements.

SOA Highlights

I was pleased to co-host a breakfast with two other FCIAs: Mike Lombardi, now President of the SOA, and Henri Boudreau of OSFI, who was at the meeting to present on issues with respect to capital. Although the audience was small (it was an early morning start!) we had a good discussion about the various SOA and CIA initiatives that will benefit Canadian actuaries. Interestingly, one of the questions related to the diversity challenges of the two organizations. It is a cornerstone topic in actuarial circles these days.

I also co-facilitated a session entitled Transitioning between Fully Employed and Fully Retired. Whereas I had thought our audience would be fifty-somethings who were thinking about the years until 65, our audience included a surprising number of sixty-somethings who were not at all ready to hang up their professional hat. There were great discussions at table groups with a report back at the end—I believe there were a good number of attendees who felt it was a worthy way to close out the first day. 

Sessions had the usual broad cross section of topics: many included Canadian speakers as well as country-neutral sessions to ensure there was valuable content for all attendees. 

Canadians Leading the Actuarial Profession

In case you had not noticed, there are now Canadians in presidential roles in three major North American actuarial associations. Mike Lombardi took office as President of the SOA in October, and Jim Christie will take office as President-Elect of the Casualty Actuarial Society in November. Congratulations to both—it is marvellous to see that Canadians are having such a significant impact on the actuarial profession!

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

 
In Focus

By Conrad Ferguson, FCIA

Member input on all documents the Actuarial Standards Board publishes is essential to the development of high-quality actuarial standards that meet the public interest. We appreciate your contribution to our process. Furthermore, those who participate in designated groups (DGs) are invaluable to our standard-setting process.

ASB Membership

Ty Faulds’ mandate as Chair ended on June 30, 2017 and I have taken over for the next two years. Josephine Marks was appointed Vice-chair for a mandate ending on December 31, 2018. Rebecca Rycroft and Elizabeth Boulanger joined the ASB on July 1, 2017.

The current membership of the ASB includes Conrad Ferguson (Chair), Josephine Marks (Vice-chair), Elizabeth Boulanger, Stephen Cheng, Alexis Gerbeau, Mario Marchand, Geoffrey Melbourne, Dave Oakden, Catherine Robertson, Rebecca Rycroft, and Tony Williams, and on an ex officio basis, Faisal Siddiqi, the 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.

The ASB expresses its gratitude to Ty Faulds, Edward Gibson, and Jacqueline Friedland, whose mandates expired on June 30, 2017.

Meetings

The ASB has had three half-day teleconference meetings since July 1, 2017. The next meeting is November 21, 2017 and is a full-day, in-person meeting.

ASB Initiatives

The following table lists current ASB initiatives.

Title

Status

DG Chair

Of Interest

General Initiatives

General Standards

Standard being finalized.

Paul Della Penna

Early implementation likely permitted. Effective date probably January 1, 2018.

Peer Review and International Standards of Actuarial Practice (ISAP) 1

Notice of intent published August 31, 2017.

Jacqueline Friedland

Comment period ended. DG is reviewing comments.

Pension Initiatives

Section 3500 – Pension Commuted Values

Exposure draft published July 20, 2017.

Gavin Benjamin

Comment period ended. DG is reviewing comments.
Report to ASB at next meeting.

Subsection 3260 – Reporting: External user report

Exposure draft published June 20, 2017.

Geoffrey Melbourne

DG is reviewing comments.
Report to ASB at next meeting.

ISAP 3 – Accounting

Notice of intent published October 4, 2017.

Catherine Robertson

Comment deadline: December 8, 2017.

Calibration of stochastic models used for certification of pension plan funding requirements

Proposed amendments (new subsection 3270 stochastic modelling) are being considered.

Todd Saulnier

Under consideration.

Mortality improvement guidance for pension commuted value and marriage breakdown

ASB is considering whether to make changes to the guidance.

 

 

Assumptions underlying marriage breakdown

N/A

DG to be created soon.

 

Pension Standard

Due for its quinquennial review.

DG to be created soon.

 

Insurance Initiatives

Promulgation of Prescribed Mortality Improvement Rates and Associated Margins for Adverse Deviations within the Practice-Specific Standards on Insurance Contract Valuation: Life and Health Insurance

Published July 30, 2017.

Dominic Hains

Effective date of October 30, 2017.

Updated Promulgations of the Ultimate Reinvestment Rates and Calibration Criteria for Stochastic Risk-Free Interest Rates in the Standards of Practice for the Valuation of Insurance Contract Liabilities: Life and Health

Published July 28, 2017.

Jean-Yves Rioux

Effective date: October 28, 2017.

Promulgation of Calibration Criteria for Equity Returns Referenced in the Standards of Practice for the Valuation of Insurance Contract Liabilities: Life and Health

Published July 28, 2017.

Dean Stamp

Effective date: October 28, 2017.

LICAT

Exposure draft published July 13, 2017.

Stéphanie Fadous

Comment period ended.

IFRS 17

Active DG discussing changes to actuarial standards as a result of the final publication of IFRS 17 by the accounting profession.

TBD

Will impact section 1000 – general standards, section 2000 – insurance, and section 5000 – public personal injury compensation plans.

Public Personal Injury Compensation Plans

Practice-specific standards under part 5000 – public personal injury compensation plans (PPICP)

Notice of intent to amend practice-specific standards published August 25, 2017.

Mark Simpson

Comment period ended.

Thank You to Our Designated Groups

The ASB is grateful for the effort of all members on all DGs and extends particular thanks to those who have completed their mandates for the three insurance promulgations chaired by Dominic Hains (mortality), Jean-Yves Rioux (ultimate reinvestment rates), and Dean Stamp (calibration criteria for equity returns).

International Developments

The ASB is aiming for convergence to the model standards (International Standards of Actuarial Practice (ISAPs)) released by the International Actuarial Association (IAA). We are currently reviewing peer review (convergence to ISAP 1) and ISAP 3 as mentioned above.The IAA also recently released ISAP 6 on enterprise risk management programs and International Association of Insurance Supervisors (IAIS) Insurance Core Principles, and the related amendments to the glossary. The ASB will consider any changes required to converge to this model standard during the ASB’s next planning cycle.  

Conrad Ferguson, FCIA, is Chair of the Actuarial Standards Board.

 
Actuaries on the Move

Career developments

People Corporation named Faizel Alladina senior vice president, product and underwriting. Mr. Alladina is responsible for leading the development and implementation of product and innovation strategies including strategic partnerships, pricing, underwriting, and voice-of-the-customer initiatives across the benefit solutions group.

Laurence Audy is an associate director, client relationships, defined benefit solutions, at Sun Life Financial. Most recently, she was a manager, client relationships, defined benefit solutions. She joined the firm in 2016 from Willis Towers Watson where she was a senior actuarial analyst.

Steve Cohen has been appointed senior vice-president and chief underwriting officer at RSA Canada. He will join RSA during the first quarter of 2018, and will be responsible for head office underwriting, pricing, and reinsurance across both personal and commercial insurance portfolios.

The federal government has appointed Karen Lockridge to its Expert Panel on Climate Change Adaptation and Resilience Results. Ms. Lockridge is principal, responsible investment at Mercer and was the founding chair of the CIA’s Climate Change and Sustainability Committee.

Philippe Pagé is the Vancouver health office business leader at Mercer. For the past 16 years, he was with Aon, most recently as vice-president and Western operations manager, health and benefits.

Actuaries in the media

Gavin Benjamin was quoted in a CBC news article on protecting pensions.

The Globe and Mail published the article More winners than losers in national pharmacare plan by Robert Brown.
___________________________________________________________________________________

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.

 
Research Hub


Keith Walter

Keith Walter, a member of the Research Committee (ResCo) since 2015, has taken on the role of chair of the Research Executive Committee (REC), effective September 30, 2017. Faizel Alladina, who chaired the committee through a major restructuring will continue to play a past-chair role.

“Many thanks to Faizel who led the committee through a time of very significant change,” says Mr. Walter. “That change to a more forward-looking approach was very much under his leadership. The reorganization of the committee was his initiative.”

Formerly known as ResCo, the REC’s new structure is designed to help volunteers develop key partnerships to lead research relevant to the actuarial community and in support of general public issues, and to enhance the engagement of academics with related interests. For more details on the REC restructuring, see the summer 2017 REC newsletter.

During his 35-year career in the insurance industry, Mr. Walter worked outside of Canada for many years, so he was not active in the CIA during that time. After returning to Canada from Singapore in 2014 (where he volunteered for the Singapore Actuarial Society), he turned to volunteering with the CIA, becoming Chair of ResCo’s Group Life and Health Experience Subcommittee in 2015.

“As we went through the restructuring, I joined the REC,” he says. “I had agreed to be Vice-chair of ResCo, so becoming REC Chair when Faizel’s term ended was a natural evolution.”

Vision for the REC

Mr. Walter says his vision for the committee is consistent with the committee’s new focus: continue to improve the execution of research projects, further develop the infrastructure for research activity, and focus on forward-looking research.

“Improving the execution of research projects means making sure that research dollars are well spent and the results are a high level of excellence,” he says. The Institute commits 9.5 percent of net dues revenue to its research budget. “Tracking, delivery, and use of results are essential. It’s important that the results of these projects get embedded into the actuarial community—that they are used and have benefit.”

The committee continues to examine the CIA’s research activity infrastructure, particularly around experience studies. “How can we improve the support environment for research?” Mr. Walter asks. “Can we reuse data or collect it in a different way? Can we do things now that can make research an effective tool for the profession?”

Research is a strategic element of the CIA and for the actuary of the future, and the REC’s forward-looking approach can help.

“Research has always been an asset, but current projects can be more of a value/asset for the actuarial community,” he says. “A much greater percentage of our projects are really strategic and forward-thinking, as opposed to in the past. That work is a building block on which the future of our industry will be built.”

Current REC Activities

REC and its subcommittees are very active, managing a number of research projects to support the CIA and its members.

The first papers from the academic research grant program are in peer review. “It is exciting to see that the academic research grant program is starting to pay dividends,” he says. 

“We are also continuing to develop a good partnership with the SOA,” Mr. Walter says. At the recent SOA Annual Meeting, Sim Segal and CIA member Jill Knudsen presented on a joint CIA-SOA research paper that examines the implications of developing a chief risk officer position for countries.

At the same meeting, a joint CIA-SOA research paper on flood risk was discussed—a hot topic given severe weather events in the recent months.

Future Activities

A large item on the REC’s agenda is beginning the two-stage process to decide what research projects to fund next year. “We are working hard to get input and feedback to make sure we have a full deck of ideas,” he says. “Once we determine strategic topics and themes, we will go back and look for specific projects on those themes.” A key stage of the process is a face-to-face meeting in Toronto in February to put the research plan together. Watch this space for updates in 2018.

Consider Volunteering

The REC is a busy committee, always looking for volunteers. “The beauty of the structure now is that volunteer commitments can be relatively short-term,” Mr. Walter says. “The POG [project oversight group] structure means you’re not committing the rest of your life to a project.”

For Mr. Walter, volunteering is important, and not just for the usual reasons such as connecting with people, discovering new insights, and earning continuing professional development (CPD) hours.

“I’m a huge believer in lifelong learning. It’s important to keep challenging yourself to learn something new,” he says. “Life gets more and more interesting the more challenges you take on. Learning to adapt, evolve, and experience new challenges is fundamental to growth and to what you do. It’s very rewarding and fulfilling.”

If you are interested in volunteering for the REC, login to the CIA members' site, navigate to the Research Executive Committee page, and click on Are you interested in serving on this committee?.

 
Insight Decision Solutions
Acutarial Design
RGA Canada
Institute News

The CIA Board seeks member feedback on proposed changes to the continuing professional development (CPD) requirements. These changes affect the Bylaws, the CPD qualification standard, and several CIA policy documents, and include the following:

  • Reduction of the total number of CPD hours required from 100 to 80;
  • Introduction of core professionalism requirements;
  • Introduction of a formal application process for exemptions from the CPD requirements;
  • A more rigorous audit process; and
  • Possible suspension of membership for members who do not qualify for an exemption and who fail to comply with the CPD requirements.

If approved, these changes would be effective for CPD reporting at January 1, 2020.

“Please be sure to let us know what you think—what you agree with and what you don't,” says CIA President Sharon Giffen. “Member input is critical and this matter will affect all of us.”

Please submit comments by November 22, 2017 through the online form or by e-mail to Lynn Blackburn, director, professional practice and volunteer services.

 

Actuaries without Borders (AWB) is a section of the International Actuarial Association (IAA) that helps provide temporary actuarial services in parts of the world where those services are lacking.

“Actuaries without Borders is a unique IAA section in that it doesn’t focus on a specific practice area,” says Doug Carey, Chair of AWB (awb-chair@actuaries.org). “Our focus is to help with projects around the world that fit within our scope.”

AWB’s mission includes education, training, and assistance with the development and sound management of social security, enterprise risk management, pensions, insurance, investments, healthcare, and other areas where actuarial services can be of use.

Education and Training

Since 2002, AWB has provided education and training in countries throughout the world, including India, Kazakhstan, Nepal, Romania, and Azerbaijan. A January 2017 AWB project in Armenia helped to train and instruct people sitting the Society of Actuaries (SOA) exams. “We attracted good instructors,” Mr. Carey says. “The students were very motivated.”

In most cases, a local actuarial association contacts the AWB to request assistance. Other recent AWB projects include workshops in Sri Lanka, Nigeria, Bosnia and Herzegovina, Colombia, and Kenya. The group’s current and future projects involve a global mentorship program, a two-day introduction to enterprise risk management (ERM) workshop in Bulgaria, and a two-day workshop in Macedonia on introduction to insurance core principals (ICPs), Solvency II, and the four internal control functions.

Giving Back to the Profession

Mr. Carey became involved in the organization four or five years ago. “I had been an actuary for about 40 years, and as I was preparing for retirement I wanted to find something that would allow me to keep involved in the profession,” he says.

He adds that the work volunteers do is not only useful to the people and countries receiving assistance, but also to the volunteers themselves. “AWB provides an opportunity to work much more broadly than before; to develop connections completely outside one’s sphere,” he says. He mentored a young woman in Azerbaijan; she is now a member of the AWB committee. “It’s personally rewarding to see people succeed, to make a difference in these people’s lives and their professional development.”

How it Works

AWB has a pool of volunteers and a committee (comparable to a board) of 14 members, 12 of whom are elected (two are delegates appointed by the IAA Council); one is recruited as executive director (ED) (awb-ed@actuaries.org), supervising and monitoring the AWB requests/projects.

The client/project requester (often an actuarial association) submits a request online. The ED contacts the client to get a better understanding of the request, helps to reorient the request, if needed, explains to the client about its obligations (payment of airfare, lodging, etc.), and makes a risk assessment. The ED also looks for a project manager. After that, the ED will present the project and project manager to the AWB committee for approval.

AWB itself has only a small amount of funding; local sponsors usually fund the project, while AWB, through its director of funding, looks continuously for other financial sponsors as needed. For example, the Asian Development Bank helped with funding for a project in Kazakhstan. Volunteers receive reimbursement for their expenses.   

Interested in Volunteering?

AWB is always looking for new volunteers from a variety of practice areas. The only requirement for volunteering is being a member of the AWB section, which costs C$50 per year. People who are intent on teaching, mentoring, and tutoring young actuarial professionals in actuarial developing countries are particularly welcome.

“Obviously we want active AWB members,” says Mr. Carey. “We have monthly committee calls. We ask the committee (board) members, elected by the AWB section, to commit to the calls as they have a responsibility to the AWB section and to existing and future AWB clients. This is so rewarding for volunteers” he adds.

For more information about Actuaries without Borders, visit their website or contact Doug Carey.

 

If you’re interested in banking, climate change and sustainability, enterprise risk management, or predictive modelling, check out the emerging practices resources page on the CIA website.

The page includes links to useful materials such as academic papers, books, discussion papers, standards, blogs, webcasts, and tools associated with those four areas of actuarial practice.

The pages are created and maintained by the Emerging Practices Committee (banking and predictive modelling), the Climate Change and Sustainability Committee, and the Enterprise Risk Management Practice Committee.

 

Pierre Renaud passed away May 27, 2017. He was 68 years old. Mr. Renaud began working at Groupe Optimum after several years of service with the Québec government’s Direction générale des assurances.

Pierre Renaud obituary

 
Events News


CIA President Sharon Giffen addresses the crowd at CIA Live Mic.

By Matthieu Landry

Jatoba—a contemporary, Asian-inspired restaurant in Montréal’s bustling business district—was home to CIA Live Mic, a free networking event held on November 2 for experienced and new members to network and discuss important topics with CIA leadership.

CIA President Sharon Giffen, Board director Patrick Chamberland, and CIA Executive Director Michel Simard, welcomed all feedback and questions. The CIA general list, additional webcasts for continuing professional development (CPD) compliance, the state of the University Accreditation Program, and ways in which the CIA can improve web access for archived materials were some of the highlights discussed, while complimentary refreshments and the Asian-inspired menu of edamame, vegetarian dumplings, beef yakitori, and more were served.

The General List

Members indicated they are pleased with the direction of the CIA and that this sentiment should be expressed more frequently on the general list. The updated CIA Discussion Listserver Terms of Use has improved participation and members would like to see more discussions taking place on current actuarial issues.

Webcasts on Professionalism

Additional webcasts for CPD compliance was a topic of interest, especially those provided by the CIA on professionalism. This important feedback will help the Institute as it plans the coming years’ activities to ensure we can meet the needs of members. A professionalism webcast is scheduled for December 7 in both French and English. Check the upcoming webcasts page on the CIA website for more information.

Archived Webcasts

Members requested an easier way to access archived webcasts, which are a valuable source of continuing professional development, but are difficult to find on the CIA website. The Head Office will look for ways to improve this.

Communications

Members expressed their satisfaction with the CIA’s communications, and that they look forward to the implementation of customer relationship management (CRM) services in the future.

CIA Live Mic provided an opportunity for members in the Montréal area to share their ideas with the leadership in a relaxed environment. We enjoyed hearing member perspectives and we thank everyone who attended and participated in the discussions. Your feedback is important to us and we look forward to serving you.

Matthieu Landry is senior coordinator, marketing, at the CIA Head Office.

 
Social Media and the CIA

By Kelly Fry, manager, marketing and public affairs

This year–2017–is a special one for Canadians. We’ve experienced many Canada 150 events: fantastic concerts, the gathering of canoes, and La Machine, an outdoor theatre production where a giant mechanical spider and a fire-breathing dragon-horse roamed the streets of Ottawa. What a fitting time to highlight the contributions of you, Canada’s actuarial community.

The CIA’s national advertising campaign has just kicked off and I am thrilled to present The shape of things to come.

With a look to the past, the campaign revisits some of the key contributions actuaries have made to Canada’s social programs like the Canada Pension Plan (CPP), Employment Insurance (EI), and Workers’ Compensation.

In the present, we explore the different practice areas with a goal of educating executives about the actuarial skill set and how transportable it is to many different industries outside of the traditional practice areas.

Of course, looking at the future is what actuaries do best, so we demonstrate how actuaries are poised to positively shape the future of this great country.

National Campaign

Marketing and communications agency Banfield created an integrated marketing campaign that includes video, advertorials, digital advertising, social media, and a landing page on the CIA website. The campaign will run nationally for six weeks online at The Globe and Mail, CBC, Radio-Canada, and on several social media channels.

Member Recognition

The landing page features a campaign video highlighting the areas in which actuaries work and how that work will impact the future of Canadians. I love the video, but the profiles of CIA members are what I am most proud of. These members discuss why they became an actuary, the work they do, and how they see actuaries shaping our country’s future. Special thanks to Rebecca Rycroft, Michel Bédard, Rob Hinrichs, Angelita Graham, Gary Walters, Patrick Chamberland, and CIA President Sharon Giffen.

Social Media Presence

Social media has become a cost-efficient way to deliver targeted messages to your selected audience and it will play a big role in this campaign with weekly posts to Facebook, Twitter, LinkedIn, and YouTube. Help us spread the word! You have a lot to be proud of, so I encourage you to check out the campaign on social media and share the content on your social media channels.

Cheers to protecting the public interest for the next 150 years—and perhaps another fire-breathing machine.

Kelly Fry is manager, marketing and public affairs at the Canadian Institute of Actuaries.

 
Spotlight on New Fellows

 
Nicolas Lafontaine

By Judith Lefebvre

Hockey is a family affair in the Lafontaine household: Nicolas’ brother is an excellent player, as were his uncles and father in their day. A remarkable athlete, Nicolas just missed being drafted by the National Hockey League. The budding actuary combined sports with studies as early as high school, when he played for the Gatineau Intrépide, the Rouyn-Noranda Huskies, and the Chicoutimi Saguénéens of the Québec major junior hockey league. He then headed to Montréal to study actuarial mathematics at Concordia University, where he continued to develop his hockey game on the school team. On the ice, he suits up as a power forward, a position combining toughness and scoring. “In my day,” he recalls, “it was a bit rougher. Head shots were allowed back then. Being the size I am, I had to drop the gloves a few times. If one of my teammates was being roughed up, I had to protect him.” 

An Athlete’s Discipline
To the uninitiated, hockey and actuarial work may seem polar opposites. But do the two activities have anything in common? According to Nicolas, the perseverance and discipline he learned from hockey played a crucial role in his becoming an actuary. “Athletes are constantly trying to go the extra mile,” he explains. “I never got discouraged. I always wanted to push beyond my limits.” This is evidenced by the 3,000-odd hours of studies that he completed.

“University was really intense,” he allows. “The heavy travel, the constant hockey practices, the actuarial exams, and my bachelor’s degree.”

During his bachelor’s program in actuarial mathematics at Concordia, he had internships at Normandin Beaudry, a major consulting firm in Québec. He turned down a job there to play hockey professionally in France. “Like a true actuary, I calculated the risks!” he jokes. He and his spouse headed for the French Alps, where he continued to study for his actuarial exams. After a year of professional hockey, the couple moved back to his hometown of Gatineau, and Nicolas accepted a position with Mercer in Ottawa. He has been there for seven years, and has practised in the pension plan field for the past five years. He became a Fellow in 2016.

How Hockey Influences the Actuary, and Vice-Versa
Hockey has had a decisive influence on Nicolas as an actuary. “I was pretty shy,” he relates. “Hockey was a way for me to interact with people and come out of my shell.” Hockey also helped him avoid student debt: “I was a good student, so I received scholarships, along with support from my professors.” And how did Nicolas the actuary influence Nicolas the hockey player? “Once, during the playoffs,” he recalls, “I won a hockey pool organized by some fellow actuaries at Mercer. Over 75 percent of my predictions came true!” All kidding aside, though, he says he’s still searching for the ever-elusive “perfect algorithm” to win every pool he enters. According to him, it’s a waste of time to comb through hockey statistics. “It’s not like baseball. Hockey is a game of mistakes. It’s an unpredictable sport.”

Looking ahead, Nicolas plans to continue playing hockey for the fun of it and acting as a pension plan and investment adviser. Management also interests him, as evidenced by his new job: he’s a volunteer coach for a team of five-year-olds, including his son. “I think I’m a good coach,” he says. “I’ve received so much feedback from playing hockey. I think I’m ready to give some of it back now.”

Judith Lefebvre is a French Editor at the Head Office of the Canadian Institute of Actuaries.

 
Volunteers on the Move

Member Services Council

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

  • Public Statements Committee: Rob Stapleford (Vice-chair), Mike Hafeman, Karen Lockridge, Elaine Lajeunesse, and Kathy Thompson, effective September 8, 2017, and Peter Gorham, effective September 25, 2017;
  • Climate Change and Sustainability Committee: Delphina Chue, William (Cunhua) Shi, and Odile Goyer, effective August 28, 2017 and Gaetano Geretto, effective November 1, 2017;
  • Research Executive Committee: George Wang (Practice Council liaison) and Paul Winnett, effective November 1, 2017;
    • Experience Studies Subcommittee: Stefan Ramonat, effective November 1, 2017; and
  • Volunteer Management and Development Committee: Diana Tse, effective November 1, 2017.

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

  • Public Statements Committee: David Pelletier, Marc Drouin, and Jacqueline Friedland, effective September 8, 2017; and
  • Climate Change and Sustainability Committee: Karen Lockridge, effective August 28, 2017.

Practice Council

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

  • Committee on Life Insurance Financial Reporting:
    • Ultimate Spread Assumption Working Group: Nathalie Cloutier (Chair), Jean-François Fontaine, John Campbell, and Geoffrey Williams, effective September 5, 2017;
  • Committee on Property and Casualty Insurance Pricing: Brian Pelly (Chair), effective June 29, 2017;
  • Committee on the Appointed/Valuation Actuary: Jacques Potvin, effective September 18, 2017;
  • Committee on Property and Casualty Insurance Financial Reporting: Lucas Koury;
  • Committee on Pension Plan Financial Reporting: Warren D’Souza.

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

  • Committee on Property and Casualty Insurance Financial Reporting: Lisa Yeung, effective September 7, 2017;
  • Committee on the Appointed/Valuation Actuary: Eric Jobin.

The Task Force on Pension and Post-Retirement Accounting Discount Rates has been disbanded with thanks.

The Task Force on Mortality Improvement had been disbanded with thanks.

Education and Eligibility Council

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

  • Committee on Education: Kwame Smart (CIA representative to the SOA Group track Curriculum Committee), Michael Ah-Fat (CIA representative to the SOA Life track Curriculum Committee), and Andrew Gillies (CIA representative to the SOA Retirement track Curriculum Committee);
    • Exam 6 Canada Syllabus Subcommittee: Ling-Yu Anita Li, Michelle Rutman, and Christine Zhou, effective July 1st, 2017;
  • Committee on Continuing Education:
    • ERM Subcommittee: Queenie Huang, effective August 1, 2017; and
  • Committee on Exams and Assessments: Sarah Reynolds (CIA representative to the SOA Retirement DAC track Exams Committee).

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

  • Committee on Continuing Education: Deborah McMillan (and as Chair of the Webcast Champions Subcommittee of the Committee on Continuing Education); and
    • Pension Subcommittee: Deborah McMillan (Chair) and Jean-François Poitras. 

The Webcast Champions Subcommittee of the Committee on Continuing Education has been disbanded with thanks.