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  #1  
Old 08-01-2019, 09:48 PM
Ol' Perfesser Ol' Perfesser is offline
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Default New Academy International Strategy

Does anyone have a reaction to the new Academy International strategy, particularly dropping from the IAA?
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Old 08-02-2019, 09:58 AM
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For the convenience of others:

https://www.actuary.org/sites/defaul...-July-2019.pdf

Quote:
Academy Adopts New International Strategy

FOLLOWING AN EXTENSIVE review period, the Academy Board adopted specific strategic international goals to carry out the Academy’s mission to serve the public and the U.S. actuarial profession by coordinating “the representation of the U.S. profession globally.” The international goals are:

-Represent the U.S. actuarial profession in front of key supranational organizations;

- Maintain good relations and open communications with key actuarial associations;

- Monitor international developments with the potential to affect actuarial practice within the U.S. and represent the U.S. actuarial profession as
needed; and

-Assist the growth and maturation of actuarial associations outside the U.S. when a) requested by the local association, and b) the resource commitment will not disrupt other Academy priorities.

By focusing on these goals, the Academy will be able to more effectively focus its international efforts on achieving its mission more directly.

There will be a number of changes as the Academy implements this international strategy. This will include identifying Academy volunteers with the ability to serve as new contacts and advisers to assist with the Academy’s outreach to key international organizations, such as the International Accounting Standards Board (IASB) and the International Association of Insurance Supervisors (IAIS), whose actions have the potential to affect actuarial practice within the U.S. Dedicated staff support will help coordinate the Academy’s interactions with these international bodies and with other actuarial associations around the world.

These changes reflect the Academy Board of Directors’ determination that direct outreach will be more effective than the Academy’s prior strategy of working through the International Actuarial Association (IAA). As these initiatives are undertaken, the Board has withdrawn from the IAA. This will free up the resources needed for redirection to the new international strategy. While the Academy appreciates its long association with the IAA, after a thorough review of both the Academy’s mission and international goals, the Board of Directors has determined that maintaining membership in the IAA is no longer the most effective way of furthering the Academy’s mission and relationships.
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Old 08-02-2019, 11:55 AM
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If you don't like how a thing is being done, do it yourself?
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Old 08-02-2019, 04:03 PM
Ol' Perfesser Ol' Perfesser is offline
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What was wrong with how it was being done?
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Old 08-22-2019, 03:05 AM
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The IAA was hugely expensive for large U.S.-based organizations, which were assessed per-member dues. The U.S. pays a disproportionate share of IAA expenses. That will still be true, because SOA and CAS haven't dropped out.

We could debate whether the IAA has been effective. It has in some areas and not in others. Will the AAA do better on its own? I doubt it, but at least it won't have to spend countless hours and days trying to persuade dozens of people from countries without a real interest in many of the important issues to us that our approach is the right one. The process will be less cumbersome.

It will be interesting to see how the AAA's sudden and surprising withdrawal will affect the SOA and CAS.

Bruce
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