Description: This article is based on a presentation made by the author at the Annual Meeting of the Actuarial Society of New York in September 2004. The example of the position inventory and complementary skills acquired is from the author's own professional experience. From The Actuary Magazine, April/May 2005

Description: SOA President Stephen G. Kellison shares his thoughts on the future of the actuarial profession.

Description: Discusses potential implications of increasing life spans in many areas.

Description: This article presents an interview with Prakash Shimpi about his career and the practice of Enterprise Risk Management [ERM]. Shimpi, FSA, CFA, joined the Tillinghast business of Towers Perrin in November 2004 as practice leader with global responsibility for ERM.

Description: The LTC insurance sector faces a crisis of credibility due to recent company failures. Market evidence indicates reduced confidence in the reserve sufficiency of companies with large legacy LTC exposures. Disclosures show the persistence of problematic actuarial and investment return assumptions. Institutional backstops exist but vary by jurisdiction and have elements which can exacerbate rather than ameliorate problems. Fortunately, LTC liabilities accrue over long time periods. An industry supported incentive structure can be conceived that would establish stronger standards and encourage greater reserving in exchange for a more reliable and rational backstop.

Description: By expanding their knowledge base, actuaries can develop a broad business perspective which in combination with the analytical skills characteristic of the profession can help them succeed in the areas of strategy and general management.

Description: This article discusses the discount rate that should be used under GASB 45. Public employers now find themselves in a similar situation to private sector employers in the early 1990's in that GASB 45 requires them to measure liabilities including post-retirement medical liabilities using accrual accounting.

Description: This article contains interviews with the directors of three Society of Actuaries departments. Margaret Ann Jordan is the managing director of Information Technology and Services, Tiffany Berger is the director of Finance and Facilities, and Toni Murril is the director of Human Resources.

Description: The goal of the session was to provide actuaries with an overview of the experiences of being an independent actuary and several details to be considered when setting up your own business.

Description: Letter from the president. After a long, but gratifying, six-year journey, the SOA’s basic education restructuring is now fully implemented. Basic education (i.e., through FSA) now reflects a sound, solid continuum.