With this month’s message I’d like to bring to light the influence the Conference of Consulting Actuaries has had on the growth of the actuarial profession. Despite being the fourth largest actuarial association in the US, the CCA throughout its history has been at the forefront of establishing actuarial standards and guides for professional conduct. There is a lot to be proud of as a member of the CCA, which we experience on a regular basis through our high-quality educational offerings and networking opportunities, but here are a few items to add to the list that you might not have known.
Did you know… the CCA is almost 70 years old!
In 1949 six consulting actuaries met for lunch in Chicago to discuss the need for an organization to set standards and exchange information among consulting actuaries. A year later in 1950, the Conference of Actuaries in Public Practice (CAPP) was founded. In 1991, the membership voted to change its name to the now familiar Conference of Consulting Actuaries, or CCA for short.
Did you know…the CCA was instrumental in the formation of the American Academy of Actuaries.
In 1965, the presidents of CAPP (now the CCA), CAS, FAA (the now defunct Fraternal Actuarial Association), and SOA came together and agreed to create a new entity for the purpose of promoting actuarial interest on Capitol Hill and to establish federally recognized licensing requirements for actuaries. While the latter effort failed, the creation of the new actuarial organization was also designated by the five organizations to house the standard setting and disciplinary functions for all organizations, using much of the standards and guides to professional conduct already established by CAPP. The Actuarial Standards Board (ASB) and Actuarial Board for Counseling and Discipline (ABCD) serve all five existing actuarial organizations, and their members, in the United States.
Did you know…we continue to grow in membership each year.
For the past 15 years the CCA has grown at an average annual rate of 1.6%, and that includes growth across all practice areas (Pension, Health, Life, and Casualty). That’s pretty amazing when you consider that defined benefit pension plans continue to decline in corporations across the US. Contrary to what you might guess, we are not dominated by the larger actuarial consulting firms. Members from small- and medium-sized consulting firms make up 46% of our membership (large consulting firms represent 35% of our membership). The CCA also includes members representing government entities, insurance companies, large corporations (other than insurance companies or consulting firms), and academia.
Did you know…the CCA is focused on four strategic goals to assure that we remain relevant to you and continue to provide value for your membership.
These goals include:
1. Establish CCA as a Thought Leader for the Actuarial Profession
2. Demonstrate CCA as the Authoritative Resource for the Consulting Actuary
3. Position CCA as the Recognized Source of Education and Knowledge for the Consulting Actuary
4. Expand the Influence of the CCA by Responsible Sustainable Growth
Do you have questions about the CCA? If so, don't hesitate to reach out to me.
Edward M. Pudlowski, FCA