How Have the New ASOPs Changed Your Practice?


Session Handout

How Have the New ASOPs Changed Your Practice? November 10, 2010 12:30 PM - 1:45 PM

Rather than walking through the requirements of the Actuarial Standards of Practice (ASOPs) such as 4, 27, 35, 44, etc.; the presenters at this session explore their perspective on how actuarial practice has evolved in response to the ASOPs. The speakers discuss their personal experiences in working through some of the dynamic tensions embedded in the ASOPs and how that analysis helps actuarial practice to evolve. Some examples may be:

  • Should ASOPs lead practice or just codify existing practice?
  • Are ASOPs just a compliance requirement, or should the spirit and intent of the ASOPs be considered guidance to help improve actuarial work?
  • When can an actuary be silent about his or her feelings, and when does the public expect a clear statement (even if it is not required by the ASOPs).

The presenters consider these questions in light of the current legal, cultural and regulatory context, the perspective and expectations of other professions and legislators, and how actuarial firms apply ASOP principles beyond what is required of the individual actuaries that they employ.

We expect this to be an interesting and open-ended discussion that allows for plenty of time for listeners to share their own experiences.

Credits: EA Core: 1.50 CPD: 1.50
  • 1 . S. Aquil Ahmed Actuarial Retirement Services, LLC
  • 2 . Susan L. Breen-Held
  • 3 . Stephen A. Alpert