SOA at Work

SOA at Work

The Board of Directors released an exposure draft this November of the proposed Continuing Professional Development requirement.

In March 2007, the Society of Actuaries' Board of Directors passed a motion establishing a continuing professional development requirement for SOA members. At that meeting, the Board commissioned a group of members (the Knowledge Management Strategic Action Team) to oversee development of a requirement for Board approval. This member committee, the KMSAT, reviewed the CPD requirements of select actuarial organizations in the United States and throughout the world. Learning from the experience of those organizations, the KMSAT recommended an exposure draft process on the CPD requirement for SOA members.

The exposure draft explains the proposed CPD requirement. Through the exposure draft process, the Board is inviting members and other interested parties to comment on the details of the proposed provisions. The Board will collect comments on the CPD requirement provisions until Feb. 22, 2008. At its June 2008 meeting, the Board will review comments, evaluate potential revisions and approve a final implementation plan. The requirement is intended to become effective Jan. 1, 2009.

To view the exposure draft and frequently asked questions (FAQs), visit SOA.org/cpd.

Actuaries Take Lead on Studying the Impacts of Advanced Ages

Scientists, gerontologists, demographers, economists, physicians and other professionals from around the world will be joining actuaries at the third triennial Living to 100 Symposium, January 7–9 in Orlando. The SOA is bringing together thought leaders from a wide variety of disciplines to share ideas and knowledge on the increase in aging population and its implications to social, financial, healthcare and retirement systems.

Numerous important societal issues, such as social security and retirement, will be discussed in depth, and more than 25 papers will be presented on a broad range of topics such as mortality projection methods and trends and theories on aging. In addition, panelists will lead discussions on determining and projecting health status at advanced ages and implications of aging populations. Throughout the symposium, participants will have opportunities to discuss the problems and solutions related to these issues. Following the symposium, the SOA will create a monograph of the information presented to be used as a resource for actuaries, policymakers and those interested in and impacted by the aging population. Visit Livingto100.soa.org for details.

The Actuarial Profession in the News

New York Life International Names FSA as CFO

The company announced that Craig A. Merdian will be the new executive vice president and chief financial officer. Learn more by visiting www.imageoftheactuary.org, clicking on "News" in the left column and viewing industry news.

The Hartford Appoints FSA as CEO

Hartford Financial Services Group, Inc. named David Levenson as president and chief executive officer of its Japan subsidiary. Read the entire article by going to www.imageoftheactuary.org and clicking on "News" in the left column and viewing industry news.

Crain's Workforce Management Showcases Actuaries as Thought Leaders on Retirement Issues

The article highlights Retirement 20/20 and quotes FSAs. To read the article in its entirety, visit. SOA.org and click on "News and Publications" and "Newsroom" and scroll down to "In the News."