This regular column in Actuarial Update highlights the ASB’s work and other important professionalism issues.
professional count

The Actuarial Standards Board released the new Actuarial Standard of Practice (ASOP) No. 56, Modeling. This new ASOP applies to all practice areas and will be effective for work performed on or after Oct. 1, 2020. (Actuarial Update, January 2020)

What happens during an Actuarial Board for Counseling and Discipline (ABCD) investigation? By providing guidance to actuaries with questions and by investigating possible material violations of the Code of Professional Conduct, the ABCD plays a vital role in the actuarial profession’s efforts to ensure that all members maintain our self-imposed high standards of practice, conduct, and qualification. (Actuarial Update, December 2019)

Facing a professionalism conundrum? The experts at the Actuarial Board for Counseling and Discipline are here to help actuaries with requests for guidance—formal or informal—and much more. (Actuarial Update, November 2019)

The October “Professionalism Counts” column, “Common Year-End Qualification Questions,” covers continuing education (CE) basics that actuaries should keep in mind in fulfilling their annual CE and professionalism requirements. (Actuarial Update, October 2019)

Time for a CE Check

September 2019

The September “Professionalism Counts” column, “Time for a CE Check,” looks at the continuing education (CE) requirements under the Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States that apply to all actuaries in the U.S. that issue SAOs, and how to best meet those requirements as the year draws to a close. (Actuarial Update, September 2019)

Courtesy and Cooperation—The courtesies actuaries extend to each other as professionals are an important element of the cooperation laid out in Precept 10 of the Code of Professional Conduct. (Actuarial Update, August 2019)

As members of a self-regulating profession, actuaries follow the actuarial standards of practice, the U.S. Qualification Standards, the Code of Professional Conduct—and the Code’s Precept 13, which states that if you think another actuary may have violated the Code, you are required to act. This Precept is essential to our profession. (Actuarial Update, July 2019)

Actuaries practicing in the United States must complete 30 hours of relevant continuing education (CE) each year to satisfy the requirements of the U.S. Qualification Standards (USQS). As we hit the middle of the year, we encourage you to take stock of the CE you’ve earned so far and make sure that it has been properly recorded. (Actuarial Update, June 2019)