1. HOLDING SLIDE

2. Philadelphia Actuaries Club
JEREMY BROWN, FSA, MAAA
SOA President
It is a pleasure to be here this evening.
There is a lot I would like to share with you, in terms of updates from the Society of Actuaries. I will discuss recent developments and what the SOA is doing to help support current and future actuaries.
ADVANCE SLIDE

3. The SOA’s Strategic Vision
Through research and education, the SOA advances actuarial knowledge and improves decision making to benefit society.
We enhance the ability of actuaries to be trusted financial and business advisors.
We provide and ensure the integrity and relevance of our credentials.
Provide educational opportunities
Lead innovative research for the industry
Enhance the global community
Support and advance the profession

4. The development of the strategic plan had a long process, which included talking with a combination of stakeholders, from actuarial candidates to members and employers.
We finalized the strategic plan this past Oct.
Here’s our strategy map.
Visit

5. Predictive Analytics Predictive Analytics
Predictive analytics is the fastest growing area for actuaries
Actuaries’ advantage is that we understand the context. Also, strong code of ethics and professionalism.
Data visualization tools and communications skills also are important ways for employers and public to understand the analysis; recognize the value of actuaries
In general insurance for instance, actuaries work with storm modeling and forecasting storm movement
The SOA analyzed Twitter social media data on local tornados to better understand communication, data and response
The SOA has been working on several research projects, papers and education:
We are conducting a predictive analytics pilot certificate program this year, and are currently evaluating the submissions from FSAs who are interested in participating. The pilot program will include this fall and we will share more information as it develops.
We have been highlighting actuaries working with predictive analytics, including those in health care.
You may also consider reading our two essay collections on practical uses of predictive analytics within the industry. Visit SOA.org/predictive
We are also hosting a predictive analytics symposium in Chicago this September 2017.
And of course there are the candidates. The SOA has an intern program as a way to reach out to nontraditional employers.
This program allows us to share with them the knowledge and skill sets actuaries can bring to new roles.
We placed several interns last year at NASA, Microsoft, sports info and health companies covering analytics.
By the way, all but one employer has hired an actuary since.
They all stated how impressed they were with the skills actuaries bring to the table

6. Curriculum Changes
Curriculum changes for ASA and CERA
The changes are part of the SOA’s Learning Strategy, incorporating new technologies and methods of education
Will have 12 components for ASA rather than 10. There is no corresponding reduction in the number of post-ASA components.
While this may have the effect of increasing total travel time to ASA, our stakeholders have told us how important these changes are to educate future actuaries.
The ASA curriculum is changing in July It is effective for new ASAs as of July 1, 2018 and new FSAs after July 1, 2022.
ASA curriculum changes
The SOA offers a complete curriculum for future actuaries. The curriculum will include predictive analytics emphasis, plus a balance of long term and short term insurance
The changes reflect employer-valued components and the quality, rigor and depth of expertise expected of SOA members
Short term/long term:
Short-term insurance coverages (e.g., health and general insurance) have been increasing in importance, particularly in global markets.
The new curriculum will provide a better balance between short-term and long-term topics.
Predictive analytics
With predictive analytics, we are creating opportunities for applying our actuarial skills and expertise inside and outside of the insurance industry
The use of predictive analytics has spread to most areas of actuarial practice.
Consensus that actuaries need to know more than the basic regression and time series methods that are the focus of the current ASA curriculum.
Current curriculum does not go beyond time series and basic regression.
The new curriculum will incorporate predictive analytics topics to better prepare SOA trained actuaries for today’s opportunities.

7. CAA Global
This past Oct. the SOA and the Institute and Faculty of Actuaries (IFoA) announced an agreement to establish a not for profit, public interest joint venture called CAA Global.
CAA Global oversees, delivers and promotes the Certified Actuarial Analyst (CAA) qualification.
The CAA qualification is designed to give those working in actuarial support roles, and in the broader financial services sector, a path to acquire sound technical skills and to bring them into a regulatory framework.
The CAA also facilitates the growth in actuarial capacity in emerging markets where it is just starting to develop.
The joint venture helps to establish the CAA as a consistently recognized and sought after global qualification.
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8. Available Resources
One last item, as I want to mention the volume of resources available for you all. Here’s just a sample:
The SOA has a new database of volunteer opportunities. You can search by area of interest, number of hours for the project, and much. Visit SOA.org/volunteer.
The SOA CPD Tracker can help you manage your continuing professional development credits, such as meetings like this one.
SOA Engage: an online community for members and candidates to discuss a variety of topic threads. Recent discussions include predictive analytics, the ACA, data visualization, and also innovation in the insurance industry. Join and participate in this community today. Visit engage.soa.org
Also don’t forget there are a variety of professional interest sections available to join, several major meetings for professional development throughout this year, and much more.
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9. I thank you for your time.