Actuaries in defense of the public interest

Actuaries take seriously their responsibility for the society and are aware of the positiveimpact they produce, while applying their diverse skills for the national benefit. Via their national associations, actuaries offer assistance to national and regional governmental organizations, analyze and propose regulatory solutions and advise on a wide range of public issues. Via the International Actuarial Association, they offer and provide assistance to international regulatory, financial, accounting and public organizations.

The role of profesionalism

The Actuarial professional community appreciates the fact that society votes it a high level of trust and thus is fully aware of the responsibility to maintaining high professionalism standards amongst its members. Candidates for actuaries are to successfully complete a demanding educational program and achieve a certain level of professional experience in order to be admitted for a membership in the actuarial profession. Membership requires the achievement of particular set of skills and an on-going competence level maintenance. Members should adhere to the standards of practice developed by experienced practitioners, which requires actuaries to perform complex analyzes. Actuaries who do not meet those standards are subject to disciplinary actions by the organization they are members at. Establishing and maintaining uncompromised professional standards helps actuaries keep their reputation and professionalism and remain objective and ethical.

The role of the International Actuarial Association

Designed to serve as a link between actuaries and professional associations of actuaries around the world, the International Actuary Association is the international professional, educational and research organization of national actuarial associations. In accordance with Article 3 of the Statute, the objectives of the organization are:

  • To develop the role and improve the reputation and recognition of actuarial profession and individual actuaries around the world;
  • Promote standards of professionalism among member-national associations and among actuaries around the world, providing public interest;
  • To increase the knowledge of actuarial sciences and their application;
  • To increase the professional training of actuaries around the world;
  • To increase the overall self-esteem and respect among actuaries;
  • To give voice to discussions between actuaries and actuarial associations around the world;
  • To represent the members-national associations in discussions with international organizations.

The International Actuarial Association improves professionalism among actuaries by requiring from its members (national associations) to establish and maintain high standards of conduct and practice and follow according disciplinary procedures.

The International Actuarial Association offers the experience of the global actuarial community to voluntarily support organizations setting the international public policy foundations.