Nontraditional Practice Initiatives Endorsed
The Board of Directors has approved new CAS initiatives to better support members in relatively nontraditional practice areas. Acting in November and February on the report of the CAS Task Force on Nontraditional Practice Areas, a task force created in 1998 by the Board and chaired by Mike Miller, the Board agreed to create four advisory committees to pursue the practice areas considered to have the greatest potential benefit, which are:
Asset/liability management and investment policy
Valuation of P/C insurance companies
Enterprise risk management
These advisory committees will oversee an expansion of CAS education and research functions to support the new practice areas, much like the earlier DFA Advisory Committee functioned in support of the dynamic financial analysis practice area. These committees will develop a list of initiatives needed in education and research for review by the Executive Council and assignment to the appropriate CAS committees for action. The objective is to develop skill sets that have general applicability to a wide range of practice areas.
The Board also supported the task force recommendation to include general business skills instruction in the CAS education program. The first sessions in response to this thrust will be offered at the 2000 CAS Spring Meeting in Las Vegas. A task force is being formed to address further the providing of continuing education opportunities for general business skills, such as presentation and salesmanship, business writing, marketing strategies, production and productivity measures, process management, and financial statement analysis.
Staffing of the four advisory committees and the business skills task force commenced in March in response to a letter to the membership from CAS President-Elect Pat Grannan. Additional volunteers are welcome. Members are encouraged to contact Jane Brooke at the CAS Office for more information on serving.
A copy of the task force report with a summary of the approved implementing actions is available on the CAS Web Site at http://www.casact.org/about/reports/ntpa.htm.