INTRODUCTIONINTRODUCTION

Dave Dickson• Chair of the CE Committee.• Employee of Foresters. Large Canadian Fraternal which offers financial products and other services to its members in Canada, the US and UK.• Toronto is our Int’l head quarters from which we administer our N.A. business.•Foresters has over 1 Million members.

Dave Dickson• Chair of the CE Committee.• Employee of Foresters. Large Canadian Fraternal which offers financial products and other services to its members in Canada, the US and UK.• Toronto is our Int’l head quarters from which we administer our N.A. business.•Foresters has over 1 Million members.

AGENDA AGENDA

Agenda• CPD requirements.• Communications.• 2008 Processes.• Tracking Tool.• CE Committee Initiatives

Agenda• CPD requirements.• Communications.• 2008 Processes.• Tracking Tool.• CE Committee Initiatives

CPD REQUIREMENTSCPD REQUIREMENTS

• Minimum of 100 hours every 2 years.• 24 must be structured.• At least 12 structured must be Technical.• Minimum of 4 hours, structured or unstructured, for both Professionalism and Business and Management skills.

• Minimum of 100 hours every 2 years.• 24 must be structured.• At least 12 structured must be Technical.• Minimum of 4 hours, structured or unstructured, for both Professionalism and Business and Management skills.

CPD REQUIREMENTSCPD REQUIREMENTS

• Filing of proof of compliance annually.• First filing as of Dec 31, 2007 for the calendar years 2006 & 2007.

• Filing of proof of compliance annually.• First filing as of Dec 31, 2007 for the calendar years 2006 & 2007.

CPD REQUIREMENTSCPD REQUIREMENTS

• Requirements apply to all members, including those doing only non-Canadian work.• Also applies to Associates/Affiliates.• Students writing exams are exempt.

• Requirements apply to all members, including those doing only non-Canadian work.• Also applies to Associates/Affiliates.• Students writing exams are exempt.

CPD REQUIREMENTSCPD REQUIREMENTS

• Exemptions allowed such as:– Not practising as an actuary.– Retired.– Unemployed.– Students writing exams.

• Exemptions allowed such as:– Not practising as an actuary.– Retired.– Unemployed.– Students writing exams.

COMMUNICATIONSCOMMUNICATIONS

• Communications identified as key for the CE Committee.• Bulletin articles.• CPD spotlights.• E-mail reminders.• Meetings.

• Communications identified as key for the CE Committee.• Bulletin articles.• CPD spotlights.• E-mail reminders.• Meetings.

2008 PROCESSES2008 PROCESSES

• Forms to be filed between Dec 1, 2007 and Feb 15th 2008 for years 2006 & 2007.• Secretariat and CE Committee will work with members who do not file.• Exemptions can be applied for in early 2008.

• Forms to be filed between Dec 1, 2007 and Feb 15th 2008 for years 2006 & 2007.• Secretariat and CE Committee will work with members who do not file.• Exemptions can be applied for in early 2008.

TRACKING TOOLTRACKING TOOL

• Available on the member’s only site.• Site is secure; information backed up.• Members are encouraged to use it. • Convenient way to track hours.• Better for the CIA that the tool is used.

• Available on the member’s only site.• Site is secure; information backed up.• Members are encouraged to use it. • Convenient way to track hours.• Better for the CIA that the tool is used.

TRACKING TOOLTRACKING TOOL

• Tracking tool stats:• Number of members who have used it through May 14, 2007…1,143.• Average number of hours per member ….58.3.• Breakdown: Technical (70%), Professional (9.5%), Business (20.5%).• Structured (63.1%), unstructured (36.9%).

• Tracking tool stats:• Number of members who have used it through May 14, 2007…1,143.• Average number of hours per member ….58.3.• Breakdown: Technical (70%), Professional (9.5%), Business (20.5%).• Structured (63.1%), unstructured (36.9%).

Date CPD Type

Hours Meeting/Course/Study Material Description

Location Structured (S) Unstructured (U) Time

Sponsoring Organization

Supporting Documentation

Jan 2006

T 1.0 SOA Actuaries Seminar

Toronto, Canada

S SOA SOA Webcast offered on Jan 26, 2006 discussing Principle Based Valuation

Feb 2006

T .5 Product Research Toronto, Canada

U Reading actuarial publications re Critical Illness.

March 2006

B 2.0 ABC Management Course

Toronto, Canada

S ABC Management course on improving communication skills attended March 15, 2006.

April 2006

P 1.0 In-House CPD presentation

Toronto, Canada

S In-House. CPD presentation attended on April 1, 2006

CE COMMITTEE INITIATIVESCE COMMITTEE INITIATIVES

• CPD Home Page.• Tracking Tool improvements.• CIA webcasts.• Ongoing communications.

• CPD Home Page.• Tracking Tool improvements.• CIA webcasts.• Ongoing communications.

Skills and Knowledge Inventories (SKIs)

AGENDA

• Background• Process/Purpose• Design• Status

SKI - Background

• Task Force was created in late 2005– First meeting held in March 2006– Initial focus was on the 6 “existing” practice areas as

defined by the CIA• Leaders appointed for each practice area

– Pension: Bill Osenton– Group: Shannon Patershuk– Investments: Frank Grossman– P&C: Cara Low– Life: Robert Mallette– AE: Guy Martel

SKI - Process

• Each practice area within the task force has 2 or 3 members

• These sub-groups have been in contact with members of each Practice Committee for feedback/comments

• Seek member input as much as possible– Focus has been to be open and flexible

SKI - Process

• Consistent format to be used for each practice area

• Each inventory will include:– SKI chart– Description of knowledge levels– Information regarding skills & knowledge subjects– Details regarding practitioner categories– Suggested resource/reading list

SKI - Purpose

• The SKI was developed to support Members’ Continuing Professional Development program.

• Special emphasis was placed on technical matters, however, the SKI should not be construed as a definitive description of the competencies required of those practicing in any given area.

• Similarly, familiarity with all of the information contained in the SKI is not a necessary condition to meet the CIA’s CPD Qualification Standard.

Design - Sample SKITable Ia

Skills and Knowledge Subjects for Various Practitioner Categories

A B C

Skills and Knowledge Subjects Practitioner A Practitioner B Practitioner C

Actuarial Resources

1 Subject #1 A W D

Actuarial Methods

2 Subject #2 A W

Tax/Legal Environment

3 Subject #3 D D D

Specialist Knowledge

4 Subject #4 W W D

Sample SKI The letter in each box indicates the level of skills and knowledge that a Member

working in a given role should look to achieve. The level may vary from that indicated depending on the specific requirements of any practitioner’s role.

The letter codes are defined as follows:

Table Ib

Blank Box No specific requirements have been identified for that subject

A

Basic Knowledge and

General Awareness

The Member needs a general awareness of the basic factsand also of the broad implications of the subject.

WWide

Knowledge

The Member may not need detailed knowledge but does require a deep understanding of the subject area and its implications,

as well as its potential interaction with other subjects.

DDetailed

Knowledge and Experience

The Member needs to be able to effectively apply the subject in practice, have detailed knowledge of the facts and be able to adjust the approach based on circumstances particularly for

unusual situations.

Sample SKI

Table II

Additional Information Regarding Skills and Knowledge Subjects

Skills and Knowledge Specifics

1 Subject #1: models, industry tables

2 Subject #2: formulas, statistics, reserves

3 Subject #3: guidelines, rules, results

4 Subject #4: calculations, bases, tables

Sample SKI

Table III

Additional Details Regarding Practitioner Categories

APractitioner A: Assessment of impact of trends at the policy level. Formulation

of strategies to mitigate risk for clients.

BPractitioner B: Development of product concepts and designs. Analysis of

market trends including changes in tax and/or legal environment.

C

Practitioner C: Monitoring of experience, credibility and trends. Formulation and implementation of mortality and morbidity factors, interest rate strategies,

expense ratios. Analysis of new product concepts and changes to tax/legal environment.

Sample SKI

• Members must decide for themselves whether material in reference list is relevant to their own development

• The list is meant to accommodate practitioners of various experience levels and with widely different development requirements

• Members are required to be familiar with the SOP so they are not specifically included in the reference list

Sample SKITable IV

Suggested Resources for Skills and Knowledge Subjects

Resources by Broad Category:Actuarial Resources (R); Actuarial Methods (M); Tax/Legal Environment (T);

Specialist Knowledge (S)

R Resource 1 (http://www.actuaries.ca/members/publications/1999/9943e.pdf)

R Resource 2: TSA XXIII “Title”

MResource 3 (may be ordered from Evans Bookstore, 11 Irwin Avenue, Toronto, ON M4Y 1L1, (416) 964-0161)

M Resource 4 (http://www.actuaries.ca/members/publications/1999/9930e.pdf)

M Resource 5 (2004 CIA Study Note)

T Resource 6

T Resource 7: specific websites

S Resource 8

SKI - Status

• The SKI Task Force will wind up over the next few months

• A recommendation will be put forth for ongoing revision and update of the reference lists

• The Skills and Knowledge Inventory for each of the 6 practice areas will be posted to the CPD section of the CIA website

SKI – Reference Lists

• To assist the CE Committee in keeping the reference lists current and relevant to CIA Members, we encourage practitioners to share with the Committee additional documents and references not already included.

• Please contact the CE Committee at spotlight@cia.ca with this information

QUESTIONSQUESTIONS