Professionalism

The Council on Professionalism encourages actuaries to achieve and maintain a high level of professionalism in their practice. It coordinates its activities with two boards that operate independently and serve the U.S. profession: the ASB and the ABCD. Joeff Williams is the Academy's vice president for professionalism issues.
 
Actuarial Code of Professional Conduct
Code of Professional Conduct
The Code identifies the professional and ethical standards required of actuaries who practice in the United States.
 
Qualification Standards
U.S. Qualification Standards
U.S. Qualification Standards define the basic and continuing education and experience requirements for issuing actuarial opinions.
 
Actuarial Standards of Practice
Actuarial Standards of Practice
ASOPs provide guidance on the techniques, applications, procedures, and methods that reflect appropriate actuarial practices in the United States.
 
Professionalism Webinars
Professionalism Webinars
An archive of webinars on professionalism topics including U.S. Qualifications Standards, the Code of Conduct, and Actuarial Standards of Practice.
 
Professionalism Discussion Papers
Professionalism Discussion Papers
Read papers on actuarial professionalism, standards of conduct, qualification, and practice.
 
Applicability Guidelines
Applicability Guidelines
Guidelines on which ASOPs might apply to actuarial assignments.
 
Professionalism and the Practicing Actuary
Professionalism and the Practicing Actuary
Get an overview of the Code of Professional Conduct, the U.S. Qualification Standards, Actuarial Standards of Practice, and the Actuarial Board for Counseling and Discipline.
 
Applicability Guidelines
Request a Professionalism Speaker
Request one of the Academy’s experienced and knowledgeable speakers who have volunteered to share their expertise on actuarial professionalism.
Order a Copy of the Code of Professional Conduct
Order a Copy of the Code of Professional Conduct
Members of the Academy may order a complimentary pocket-sized copy of the Code by logging into your member account here.
Mobile-Friendly ASB Site
Mobile-Friendly ASB Site
For instructions on adding an icon to your handheld device that directly links to the ASB’s mobile responsive website, click here.




Academy Approved By JBEA as Qualifying Sponsor

Professionalism News & Events

Professionalism Counts, July 2017
Following the Academy’s June professionalism webinar on actuary-to-actuary communication, former Actuarial Board for Counseling and Discipline (ABCD) Chairperson Janet Fagan writes about questions surrounding Precept 10, “Courtesy and Cooperation,” when a principal replaces one actuary with another, and the ABCD’s role in providing guidance. (Actuarial Update, July 2017) (July 31, 2017)

Presidential Papers, July/August 2017
In Part 3 of the “Professionalism in Action” series, Academy President Bob Beuerlein looks at professionalism and new and emerging practice areas, and urges actuaries to use the Code of Professional Conduct and the resources of the Committee on Qualifications and the Actuarial Board for Counseling and Discipline. (Contingencies, July/August 2017) (July 1, 2017)

Professionalism Counts, June 2017
Making sure your continuing education (CE) is relevant involves completing and documenting 30 hours of CE each year, as required under the U.S. Qualification Standards (USQS). While there are many ways to earn CE, keep in mind it must be relevant to the actuarial services you provide to satisfy USQS requirements. (Actuarial Update, June 2017) (June 30, 2017)

Professionalism Counts, May 2017
What do the varied stages of life, and one’s professional career, mean for the practical application of professionalism principles to issues actuaries deal with in their everyday work? Joeff Williams, vice president, professionalism, and Committee on Qualifications Chairperson Keith Passwater look at these issues in the context of the Code of Professional Conduct and more. (Actuarial Update, May 2017) (May 31, 2017)

Presidential Papers, May/June 2017
In Part 2 of the “Professionalism in Action” series, Academy President Bob Beuerlein explores actuary-to-actuary communications, including elements of Actuarial Standards of Practice (ASOPs) No. 1 and No. 41, Precepts 10 and 13 from the Actuarial Code of Professional Conduct, and the Actuarial Board for Counseling and Discipline’s request for guidance process. (Contingencies, May/June 2017) (May 1, 2017)

Professionalism Counts, April 2017
Wondering which actuarial standard of practice (ASOP) applies to a particular situation? Check the Applicability Guidelines, published by the Academy’s Council on Professionalism, which can help actuaries determine which ASOP applies to the task at hand, including those that apply to every assignment. (Actuarial Update, April 2017) (April 28, 2017)

The Academy and the Web of Professionalism
In a four-part series in Contingencies, Academy President Tom Wildsmith examines the infrastructure of actuarial professionalism and how the Academy is instrumental in supporting that infrastructure and the U.S. actuarial profession. Wildsmith terms this infrastructure a “web of professionalism,” and the series explores how the Academy developed these foundational documents and bodies to provide the professionalism framework for the profession:
  1. The Code of Professional Conduct binds Academy members to the highest standards of conduct, recognizing that all members have a moral responsibility to all the many people who may depend on their work.
  2. The U.S. Qualification Standards provide actuaries with the guidance needed to meet the ethical obligation to practice competently and responsibly.
  3. Through the Actuarial Standards Board, the Academy has promulgated 50 actuarial standards of practice covering all areas of actuarial practice.
  4. Through the Actuarial Board for Counseling and Discipline, the Academy provides the basic disciplinary framework for the profession.
“The Academy was founded so that the U.S. actuarial profession could earn the public’s trust,” Wildsmith writes. “Our primary mission is to ensure that U.S. actuaries—both individually and collectively—provide the public with the professionalism it deserves.”

The series was redesigned as a standalone publication. Read it here.  (April 27, 2017)

Nominations Now Open for Academy Service Awards
It’s time once again to nominate a deserving colleague or respected mentor for one of the Academy’s prestigious annual awards, either for public service or for a lifetime of service to the actuarial profession and the Academy, as described below.
  • The Robert J. Myers Public Service Award honors an actuary who made an exceptional contribution to the common good, specifically through a single noteworthy public service achievement or a career devoted to public service.
     
  • The Jarvis Farley Service Award is a lifetime achievement award presented to an actuary whose volunteer efforts on behalf of the Academy have made significant contributions to the advancement of the profession through a lifetime of service.
     
  • The Outstanding Volunteerism Award honors Academy volunteers who have made a single, noteworthy volunteerism contribution in the past year.

The deadline for nominations is June 30, and the awards will be presented at the Academy’s Annual Meeting and Public Policy Forum Nov. 14–15 in Washington.
(April 25, 2017)

Professionalism Counts, March 2017
Actuarial Standards Board (ASB) Vice Chairperson Frank Todisco writes about Actuarial Standard of Practice (ASOP) No. 32, Social Insurance, which is currently undergoing revision. The ASB created a task force last year to examine ASOP No. 32—which does not fall into any one particular practice area—that met in January and plans to issue a summary of changes and a full exposure draft later this year. (March 31, 2017)

ASB Releases 2016 Annual Report
The Actuarial Standards Board’s (ASB) 2016 Annual Report is now available. The report highlights the ASB’s accomplishments in 2016, including adoption of three revised actuarial standards of practice (ASOPs), approval of seven exposure drafts for comment, approval of a proposal for one revised ASOP, and a final report from the ASB’s Pension Task Force. The ASB also approved the formation of a task force to revise ASOP No. 32, Social Insurance. (March 22, 2017)
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