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CIA Annual Meeting Assemblée annuelle de l’ICA

Learn about the implementation of new CPD requirements, SKIs, and future opportunities for actuaries at the CIA Annual Meeting in Ottawa. Explore changes, tools, and the importance of compliance in this evolving field.

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CIA Annual Meeting Assemblée annuelle de l’ICA

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  1. CIA Annual MeetingAssemblée annuelle de l’ICA June 29 & 30, 2006 - Les 29 et 30 juin 2006 Ottawa, Ontario GEN 41 - A Brave New World – CPD for Actuaries

  2. AGENDA Dave Dickson Chair of the CE Committee Report on implementation of new CPD requirements introduced Jan 2006 Guy Poliquin Background on the Skills and Knowledge Inventories (SKIs) Kathy Thompson Members of the SKI Task Force Progress report on the SKIs Task Force Questions / Discussion A Brave New World - CPD for Actuaries

  3. New CPD Requirementsfor CIA Members Presented by: Dave Dickson GEN-41 A Brave New World – CPD for Actuaries

  4. AGENDA CPD Changes introduced Jan. 1st 2006 Communications 2008 Processes Tracking Tool Future Education Opportunities New CPD Requirements

  5. CPD requirements apply to members doing non-Canadian work Requirements to file proof of compliance First filling required in early 2008 for the calendar years 2006 & 2007 Requirements to direct some of the 100 hours Minimum of 12 structured hours must be technical CPD Changes Jan 1st 2006

  6. Communications identified as key for CE Committee Recent Bulletin articles Series of newsletters (CPD spotlight) E-mail reminders Communications

  7. Current plan is to require forms to be filed between Jan 1st and Feb. 15th 2008 for years 2006 & 2007 CE Committee will work with members who do not file on time Encouraging the use of the CIA’s on-line Tracking Tool Exemptions can be applied for in early 2008 2008 Processes

  8. 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 if that tool is used Have received numerous improvement ideas from members and will implement most of them Tracking Tool

  9. More and more members are using the Tracking Tool Tracking Statistics: Number of members who have used it through June 1st 2006: 466 Average number of hours per member: 20 hrs Type of CPD: Technical (68%) Management & Business (20%) Professional (12%) Structured (58%) and unstructured (42%) Tracking Tool

  10. Tracking Tool - Sample

  11. CIA Webcasts Recording of CIA sessions Coordinating audio and video and putting on CIA website AAA CPD Calendar on our website Future Education Opportunities

  12. Skills and Knowledge Inventories(SKIs) Kathy Thompson Guy Poliquin Session GEN-41

  13. AGENDA Background Process Design Current Status Outstanding Issues Skills and Knowledge Inventories (SKIs)

  14. Original idea came from the UK Institute More guidance was needed on what was expected from our members CIA’s CE requirements were moving away from a purely hourly measurement to a more subjective “knowledge” base SKIs are guides (not mandatory) to assist members Background - SKIs

  15. 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 Background - SKIs

  16. 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 as open and flexible as possible The SKIs will continue to evolve Process - SKIs

  17. 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 TOOL to assist in development of technical skills (members are free to use them or not) Process - SKIs

  18. Two components Chart: Rows represent the skills and knowledge subjects Columns represent the practitioner categories Boxes within grid intended to provide guidance as to level of knowledge recommended Reading Material: Documents / References to support the SKI chart Will be maintained on the CIA website Provide enough details to locate the “source” with relative ease Not the only acceptable documents … remember, it’s only a guide SKI Grid - Design

  19. SKI Grid - Pension

  20. SKI Grid - Group

  21. SKI Grid - Investments

  22. SKI Grid - Life

  23. Pension & Investments drafts distributed to members in June requesting comments re content, structure and perceived usefulness Group pending distribution to group actuaries as well as broader membership (target June/July) Life Draft of the grid completed Next step is to get feedback from life practice committees Actuarial Evidence grid almost complete; target distribution to members in August with discussion at AE seminar in September P&C Draft grid completed and distributed to P&C committees for comments Next Steps

  24. SKI’s are a journey, not a destination We need a process to ensure the guides remain current and useful to members Knowledge categories Is grouping/standardization of the “rows” desirable/practical? Reading Material What do members expect/need? Outstanding Issues

  25. CIA Annual MeetingAssemblée annuelle de l’ICA Questions ? Session GEN-41

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