Presentation is loading. Please wait.

Presentation is loading. Please wait.

An Introduction to the ABCD For the Casualty Actuarial Society Course on Professionalism Copyright © 2013 by the American Academy of Actuaries.

Similar presentations


Presentation on theme: "An Introduction to the ABCD For the Casualty Actuarial Society Course on Professionalism Copyright © 2013 by the American Academy of Actuaries."— Presentation transcript:

1 An Introduction to the ABCD For the Casualty Actuarial Society Course on Professionalism Copyright © 2013 by the American Academy of Actuaries

2 The ABCD was established in 1991 to provide a single body in the U.S. to: Investigate actuaries compliance with the code of Professional Conduct Counsel actuaries in good professional practice Mediate disputes between actuaries and others Copyright © 2013 by the American Academy of Actuaries

3 ABCD Membership Appointed by Council of U.S. Presidents – CUSP Presidents and Presidents – elect of U.S. organizations 9 members total: A Chairperson Two Vice-Chairpersons 6 regular members Copyright © 2013 by the American Academy of Actuaries

4 ABCD Processes Article X of the AAA bylaws ABCD Rules of Procedure Confidential, unless:  Actuary makes public or agrees to publication  Court requires disclosure Copyright © 2013 by the American Academy of Actuaries

5 An ABCD Inquiry The ABCD investigates cases (except in Canada) involving members of: The American Academy of Actuaries The American Society of Pension Professionals and Actuaries The Casualty Actuarial Society The Conference of Consulting Actuaries The Society of Actuaries The Canadian Institute of Actuaries (in the U.S.) Copyright © 2013 by the American Academy of Actuaries

6 An ABCD Inquiry Is a fact-finding effort, not an adversarial forum Examines whether or not an actuary materially violated the Code of Professional Conduct Does not administer discipline, but may recommend a level of discipline to an actuaries membership organizations Copyright © 2013 by the American Academy of Actuaries

7 Step 1: Initiation of Inquiry  Complaint received  Reviewed by staff for completeness  Information based  Chairs review public document and decide to proceed  Sent to Subject Actuary (SA) for response Copyright © 2013 by the American Academy of Actuaries

8 Step 2: Chairs’ review  Chairs evaluate complaint and response for possible material violation  Chairs decide whether to:  Seek additional information  Dismiss the complaint  Refer the case for mediation  Commence investigation Copyright © 2013 by the American Academy of Actuaries

9 ABCD Inquiry Process Step 3: Notification  Notify Subject Actuary and complainant, if any, of Chairs decision  Notify ABCD at next meeting Copyright © 2013 by the American Academy of Actuaries

10 ABCD Inquiry Process Step 4: Investigation  Appoint investigator, subject to challenge by the Subject Actuary  Investigator  Obtains and reviews documents  Interviews individuals involved  Prepares report of results, i.e. facts as investigator understands them  Does not offer opinions or conclusions  Report sent to SA for response Copyright © 2013 by the American Academy of Actuaries

11 ABCD Inquiry Process Step 5: ABCD consideration  All documents sent to ABCD members  Case discussed at ABCD meeting  ABCD decides whether to  Seek additional information  Dismiss (with / without guidance)  Counsel the Subject Actuary  Conduct a hearing Copyright © 2013 by the American Academy of Actuaries

12 ABCD Inquiry Process Step 6: Notification  Notify Subject Actuary, complainant, and investigator of decision  Schedule hearing if so decided Copyright © 2013 by the American Academy of Actuaries

13 ABCD Inquiry Process Step 7: Hearing (NOT A TRIAL!!!)  Conduct fact finding hearing attended by  Investigator  Subject Actuary (SA may also have attorney present)  Witnesses  Hearing is recorded by a court reporter  Investigator presents results  ABCD and SA question investigator  Subject Actuary presents case  ABCD questions Subject Actuary Copyright © 2013 by the American Academy of Actuaries

14 ABCD Inquiry Process Step 8: Deliberations  ABCD discusses hearing and documents  Decides whether to  Dismiss  Counsel  Recommend discipline  Private Reprimand  Public Reprimand  Suspension  Expulsion  Obtain more information, reopen hearing Copyright © 2013 by the American Academy of Actuaries

15 ABCD Inquiry Process Step 9: Notification  Notify Subject Actuary and complainant, and investigator of decision  If discipline is recommended, transmit to appropriate organization(s)  Statement of ABCD findings  All documents used by ABCD  Transcript of hearing Copyright © 2013 by the American Academy of Actuaries

16 Joint Discipline Process Step 10: Joint Discipline Council (JDC)  If discipline is recommended by ABCD, member organization(s) will refer matter to the JDC  JDC is composed of the Presidents and Presidents-Elect of the five U.S.-based actuarial organizations  As needed, the JDC will form Disciplinary and Appeals Panels consisting of at least five members selected from the JDC Pool  JDC Pool is a group appointed by the member organizations in accordance with the Agreement on Joint Discipline Copyright © 2013 by the American Academy of Actuaries

17 Joint Discipline Process Step 10: Joint Discipline Council (JDC)  JDC Panels will conduct proceedings according to the JDC Rules of Procedure for Disciplinary Actions  Decision by JDC Panel to suspend for more than two years or expel will be referred to the organization(s) of which the Subject Actuary is a member for a final disciplinary decision in accordance with organization(s) own procedures Copyright © 2013 by the American Academy of Actuaries

18 Request for Guidance Private Guidance by ABCD member  Expresses member’s own opinion Private guidance by the ABCD  Expresses views of the board Copyright © 2013 by the American Academy of Actuaries

19 Request for Guidance Example of RFG Topics  How do I know if I’m qualified?  How can I become qualified?  How can I do a job that involves more than one area of expertise?  How much can I rely on my staff?  How much documentation of my work should I save? What if I leave my company?  When should I refuse an assignment?  When should I make a complaint about another actuary?  When is a violation of the Code material?  When is a violation of the Code Resolved? Copyright © 2013 by the American Academy of Actuaries

20 Request for Guidance Actuaries can request confidential guidance by:  Contacting the ABCD office by phone or and requesting assistance  Telephone:  Website:  Contacting any ABCD member by phone or   Writing a letter to the ABCD office.  1850 M St., Suite 300, Washington, D.C Copyright © 2013 by the American Academy of Actuaries

21 Mediation If all parties agree Facilitate resolution of issue without inquiry Copyright © 2013 by the American Academy of Actuaries

22 QUESTIONS? Contact Brian Jackson at Copyright © 2013 by the American Academy of Actuaries


Download ppt "An Introduction to the ABCD For the Casualty Actuarial Society Course on Professionalism Copyright © 2013 by the American Academy of Actuaries."

Similar presentations


Ads by Google