Mission

The Actuarial Board for Counseling and Discipline (“ABCD”) was established in the bylaws of the American Academy of Actuaries to strengthen the adherence by members of the five U.S.-based actuarial organizations to the recognized standards of ethical and professional conduct.

Primary Functions

• • Respond to requests from members of the five participating U.S.-based organizations for guidance regarding professionalism.
  • Consider complaints about possible violations of the Code of Professional Conduct (“Code”).
  • Investigate apparent violations of the Code and conduct fact-finding hearings, when appropriate.
  • Counsel actuaries when appropriate.
  • Recommend discipline, when appropriate, to membership organizations. (Membership organizations determine whether to impose discipline, using their own procedures.)
  • Conduct educational outreach efforts, which include making oral presentations and writing magazine articles.

  Structure

  The ABCD consists of a Chairperson, two Vice Chairpersons, and six other members. They are appointed to three-year terms by a Selection Committee, established in the Academy bylaws and chaired by the Academy President. The Selection Committee appoints ABCD members in such a way as to ensure that all practice areas are adequately represented. Read the Selection Criteria for choosing members of the ABCD.

  Jurisdiction

  The ABCD’s jurisdiction to investigate alleged violations extends to the actuarial practice of the five U.S.-based organizations’ members in every country. By virtue of agreement between the five U.S.-based organizations and the Canadian Institute of Actuaries (CIA), the CIA has jurisdiction to investigate actuarial practice of the participating organizations’ members in Canada; similarly, CIA members’ actuarial practice in the United States can be investigated by the ABCD.

This regular column in Contingencies highlights the ABCD’s work and important professionalism issues.