Description: With the convergence and consolidation of the financial services industry, the advent of new technologies and the Internet, and increased focus on the customer, actuaries are facing a brand new set of challenges. This editorial prefaces the articles in this issue that point out some key challenges and opportunities facing today’s actuaries.

Description: Over the past 20 years, the roles and responsibilities of actuaries have expanded dramatically. We have extended the use of our core skills, namely the ability to model and manage financial risk, to new practice areas, such as asset/liability management and capital management. At the same time, we have broadened our client base to include most types of financial services organizations, many of which are operating in a global environment. This article discusses what the growing role of the actuarial profession means for current and future generations of actuaries.