Letter from the CAS President regarding FEM
Dear CAS Members,
As previously announced through an August 14 letter issued jointly by the Presidents of the Casualty Actuarial Society (CAS), Canadian Institute of Actuaries, and Society of Actuaries, the CAS is currently exploring a proposal for developing Future Education Methods (FEM). The initiative would institute an accreditation process for qualifying university actuarial programs in the United States and Canada and provide examination exemptions to students who receive high marks in certain courses at these schools.
The CAS Board of Directors met on September 28-29 and FEM was on the agenda for Board discussion. Many CAS members have provided feedback on FEM and I understand there are strong feelings among the members about this proposal. Therefore, I thought it would be helpful to share the highlights of the Board discussion with you.
- The August 14 letter invited members to submit feedback on FEM by September 10 to allow an opportunity to compile feedback before our November meeting. The Board is encouraged by the quantity of letters from members and is looking forward to reviewing the letters in detail for discussion in November. The Board affirmed that it is committed to seriously considering the views of the members on this proposal.
- The Board affirmed that FEM is currently in an exploration phase within the CAS. The Board agreed that it would not be bound by any time limits in reaching a decision about FEM and that it would carefully review all of the implications with respect to moving forward or declining to move forward with FEM.
- The Board agreed that the CAS should continue to provide information about, and seek feedback on, the FEM proposal. The Board charged the Executive Council with working with the FEM Steering Committee to carry out a robust communication plan that will involve a two-way dialogue with members. This process will involve a survey of the CAS Member Advisory Panel, and perhaps the entire membership. The Board encourages members to learn the details of FEM and provide feedback.
Thank you for your feedback on FEM submitted thus far. We look forward to continued dialogue on the topic.
John J. Kollar