Description: This presentation is a lecture, session number 8L, from the 2004 Spring Meeting of the Society of Actuaries, held June 14-15 in San Antonio, TX. The speakers discuss the increased competition in the financial services industry for risk-management roles, decreased influence of actuaries in the insurance world, increased criticism of actuarial techniques in the media and press e.g., pensions, and how the actuarial profession is reacting. Discussion from participants is included. From the Record of Society of Actuaries, Volume 30, No. 2.