Michael Speedling’s Post

"The Code allows us to uphold the reputation of the actuarial profession, permitting our profession to continue to be self-regulated." Need a refresher on the Code of Professional Conduct? Check out my article in the latest issue of the Casualty Actuarial Society #ActuarialReview! In this part one (of two), I outline the history of the Code and describe the first six precepts, including examples of potential violations. Feel free to reach out with any actuarial professionalism questions you have! #actuary #professionalism

An interesting interview by John Weber of Darcie Truttmann of Pinnacle Actuarial Resources, Inc. in the August issue of Best's Review. Key points: 1. New AICPA guidance requires management to better understand and support their reserve selections, especially when they differ from the actuary's central estimate. Management needs to explain why they are deviating from the central estimate if they do so. 2. The new guidance aims to increase management's confidence in actuarial estimates by encouraging more communication between management and actuaries. This may lead to actuaries' better understanding of exposures and risks, potentially improving their analysis and selections. 3. Improved communication is expected to help actuaries select appropriate benchmarks that correctly reflect the risks being estimated, leading to more accurate estimates overall. 4. When evaluating deviations from actuarial estimates, auditors should consider factors like changes in data, patterns of adverse development, and expected versus actual outcomes. Management should be prepared to explain and support these deviations. 5. The new guidance is expected to foster a more collaborative relationship between actuaries, management, and auditors and improve information sharing about risks, exposures, and changes in the company among all parties involved in the process. https://lnkd.in/em76qFPk

🤔 WHAT DOES AN ACTUARIAL ANALYST DO? 🤔 WHAT IS ACTUARIAL SCIENCE? 🤔 HOW DO ACTUARIAL ANALYSTS HELP PROFESSIONAL SERVICES FIRMS MAKE RISK-RELATED DECISIONS? Jan DeClue did a great job answering those questions and offering ways Lewis & Ellis - Actuaries and Consultants can help leverage actuarial analysis for risk-related decision making. Read her article at the link the comment section. #lewisandellis #actuary #actuarialscience #actuarial

What does an actuarial analyst do? Jan DeClue explains how actuarial analysts specialize in helping professional services firms improve their risk-related decision-making capabilities through the discipline of actuarial science. At Lewis & Ellis - Actuaries and Consultants expert actuarial analysis is just an email or a phone call away. https://lnkd.in/g9HsVYtt #lewisandellis #actuary #actuarialanalyst

Understanding actuarial reports just got easier! 🎉 Our very own Stephanie Irvin, MBA, has created an "Actuary Vocabulary" guide to help you navigate the complexities of #pension and #OPEB reports with ease. Check it out and become fluent in Actuary & English today! #actuary #publicfinance #localgov #benefitsmanagement

Professionalism - Developing Actuarial Judgement What is Actuarial Judgment and how does one develop it? This is a question that all actuaries have to grapple with given the nature of the work - making projections about the future with incomplete data, helping stakeholders make decisions amidst uncertainty, navigating potential conflicts of interest. The presenters will share insights from their own experience in developing and exercising actuarial judgement over long and successful careers. This will be an interactive session to explore the following topics: How do you develop Actuarial Judgment? Does one ever stop developing Actuarial Judgment? What are the most important lessons for aspiring young actuaries? Registration Fee ASM / CAS Member: RM 450 Only open to ASM or CAS members except Students Inclusive of ASM Annual Dinner Continuing Professionalism Development (CPD) Hour Professionalism Session: 1.5 hours Deadline for registration 12 November 2024 Register now. https://lnkd.in/gE74u3FD

“Embracing continuous learning and staying abreast of industry trends are key to maintaining our edge in actuarial consulting. Let’s start our week with a commitment to excellence and growth! #MondayMotivation #ActuarialExcellence #LifelongLearning”

“Embracing continuous learning and staying abreast of industry trends are key to maintaining our edge in actuarial consulting. Let’s start our week with a commitment to excellence and growth! #MondayMotivation #ActuarialExcellence #LifelongLearning”

The AILO Actuarial Special Interest Group meets next week to hear about trends and learnings from the 2023 year-end actuarial reporting cycle and key challenges of multi-jurisdictional Solvency reporting and diverging requirements across jurisdictions. With plenty of opportunity to discuss these areas and to determine future topics of interest, all AILO Members with a particular focus on the actuarial discipline of our industry are welcome to join the debate. Contact [email protected] for more information. #AILOMember #Actuarial #SpecialInterestGroup

Actuarial involvement in #CSRD reporting? Yes, particularly, but not limited to the materiality assessment. 🚀 There are some key ways that #actuaries can contribute to the CSRD materiality assessment process: - Assessing financial materiality - Analyzing impact materiality - Establishing materiality thresholds - Documenting the process 📖 To provide its members with guidance, the Deutsche Aktuarvereinigung e.V. published the paper „Überblick über die Wesentlichkeitsanalyse gemäß CSRD“ earlier this year (where I supported as one of the co authors). This paper touches on the areas mentioned above and is intended to support actuaries involved in the CSRD reporting process in answering some of the questions relating to the materiality assessment relevant particularly for their work at #insurance companies or #pensionfunds. 📩 https://lnkd.in/dJVy9fHt 🔀 Do you have similar documents available for actuarial work? Is there any specific guidance on double materiality matters? I look forward to the exchange! #actuary #aktuare #doublemateriality #wesentlichkeitsanalyse #csrdreporting #esgreporting #sustainability