The working life of actuaries has become faster paced, more complex, and potentially more volatile than in any previous period in the history of the profession. Furthermore, actuaries are increasingly being asked to expand their roles into areas that lie beyond the traditional space associated with the actuarial profession. As a result, actuaries are increasingly finding themselves faced with professional and ethical dilemmas for which there is little precedent to rely for guidance. Take part in a guided discussion about three real-world case studies where actuaries were required to make difficult decisions. We will see how by remaining calm and leaning on the ASOPs, actuaries were able to navigate professional and ethical pitfalls despite pressure from key stakeholders. Each case study will highlight actuaries working in different areas within the industry.
Some examples may include:
- Case study 1: An actuary working for a direct insurer finds a last-minute error during a busy production cycle.
- Case study 2: An actuary working for a reinsurer finds themselves under pressure to apply an unrealistic assumption.
- Case study 3: An actuarial consultant is under pressure from a non-actuarial client to perform work in a way that would not comply with actuarial standards.
By attending the session, you will:
- Understand how to lean on the ASOPs to keep cool during stressful situations.
- Manage deadlines and expectations.
- Balance risk and reward, and remain true professionals, no matter how hot the fire.