News from Committees

April 2016

EDUCATION COMMITTEE
Klaus Mattar, Chair
The Syllabus Review Task Force has been very active since the Vancouver meetings. Activity has included engagement with as many Full Member Associations as possible around the proposed new syllabus, as well as updating the syllabus to account for the feedback it received at, and after, the meetings. As a result of this work, the task force was able to release an updated version of the proposed new syllabus in February. One of the main clarifications was the allowance of a significant degree of flexibility in the coverage of the new syllabus.

After the release of the updated version, two webinars were held where task force members set out the process so far and the changes that had been made. More than 50 people participated in very good discussions. The webinars are available on the website. As a result, the new syllabus has now been taken to the Education Committee for a vote.

The proposed new syllabus was subsequently taken to the Education Committee for a vote.  The result of the Education Committee vote on the new syllabus was as follows:

• 30 Approve
• 8 Reject
• 2 Abstain

The Education Committee has therefore approved the new syllabus, but the result of the vote and the feedback given during the vote are still being discussed by the leadership of the Education Committee and Executive Committee and the proposed next steps will be communicated shortly.  The Executive Committee are considering the implementation and governance implications of a new syllabus and has established an EC task force for this purpose.

Once the syllabus is approved by Council, the intention is for it to come into effect for students commencing actuarial studies from July 1, 2019. As many of the changes impact later years of study, this will create an implementation period of around five years. Detailed implementation plans will be discussed on a wide consultative basis, with the intention of making the process as inclusive as possible while ensuring the global profession is ready to meet the challenges of the next decade.

GENERAL INSURANCE COMMITTEE
The Executive Committee is pleased to announce the appointment of Bob Conger (U.S.) as the chairperson of the newly created General Insurance Committee. Their first face-to-face meeting will take place in St. Petersburg, Russia in May.

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