The Focus for Professionalism Education Expands

By Roger Schultz
Chairperson, CAS Committee on Professionalism Education

The CAS Committee on Professionalism Education (COPE) was formed some 10 years ago to deliver professionalism education to aspiring pre-Associate students. Since its introduction, there have been over 1,200 graduates of the Course on Professionalism (COP). As of the end of 1998, 61 percent of Associates and 22 percent of Fellows are graduates of the course.

During the past few years, COPE has been developing strategies to create and deliver professionalism education to a new audience—about 1,300 Fellows who are neither graduates nor past facilitators of the COP and about 500 Associates who received their ACAS before the course was an admission requirement.

On January 1, 1999, a new qualification standard took effect. (Members of the American Academy of Actuaries and the other North American actuarial organizations received a copy by mail in December 1998.) Even if you are NOT a Member of the American Academy of Actuaries, you are obligated to comply with this new standard. If this surprises you, then we have just confirmed the need for professionalism education!

Continuing Education Survey Results

In 1997, the CAS Continuing Education Committee surveyed the existing membership regarding its educational interests and needs. Some significant conclusions from the survey follow:

• A strong need for professionalism education exists. Ample evidence shows that, as an organization, our compliance with existing professionalism standards could be improved.

• A strong interest in professionalism education has been demonstrated among the existing membership. In addition, members prefer that the content be tailored to the existing membership of experienced, practicing professionals. The single practice area of most concern to the membership is loss reserving and, in particular, the quality of the Statement of Actuarial Opinion.

• There is a strong preference for local courses and education that are delivered in conjunction with another event.

• There is a strong desire for the education to count toward continuing education requirements.

  Complete details of the survey are available in the Summer 1997 issue of the CAS Forum.

Professionalism Components

The professionalism aspects of the CAS are comprised of three basic components: the Code of Professional Conduct, Standards of Practice, and Qualifications. Each of these addresses a different part of our professionalism: the Code of Conduct defines behavior, the Standards of Practice define actuarial practice, and the Qualification Standards define requirements for making statements of actuarial opinion. These three elements work together to define the professional aspects of our Society.

The goals of the COPE include creating a greater understanding of, and emphasizing compliance with, each of these three sets of professional requirements. The chart above articulates the learning objectives that presently apply to the Course on Professionalism. These same objectives will serve as the initial set of learning objectives for our efforts targeted at the existing member.

1999 Strategies and Plans

The COPE selected three complementary strategies designed to create educational opportunities for our members.

Concurrent Education Strategy. Our committee, in conjunction with the relevant Academy committees, will design, sponsor, and conduct concurrent sessions during conventions and seminars. Unlike the Professionalism Course, which is designed for the pre-Associate student, these sessions will be tailored to the experienced actuary. Attendance will help members meet their continuing education obligations.

Publications. About a year ago, The Actuarial Review began a new column in conjunction with the Actuarial Board of Conduct and Discipline that has created opportunities for the reader to explore different aspects of professionalism. We plan to continue this column (see the Ethical Issues Forum). We will also be frequent contributors to other CAS and AAA publications.

Electronic Forums. Utilizing CASNET, the CAS Web Site, and other electronic media, we will create educational opportunities and interactive discussions for our members. The content will again be tailored and focused on the experienced actuary. We will also utilize these media to promote other educational opportunities that the committee is developing.

The year 1999 is indeed a watershed year for the COPE. We are very excited by the opportunity to serve the membership in this most important endeavor. If you have an interest in helping, we encourage you to Contact our committee.

Take A Professionalism Quiz | Course on Professionalism Learning Objectives