Strategic Themes C.2: New Practices

Create and promote new areas of practice

Other Information:

The actuarial profession has a basic core set of knowledge and tools that can add value beyond traditional technical roles in the insurance and benefits sectors. Of the potential options for expanding into new areas of practice, broader financial services-including investment banking, commercial banking and mutual fund management-became the first priority because of that market’s demand for skills that actuaries can provide. Research has demonstrated that employers outside of actuaries’ traditional markets are not aware of actuarial skills, nor can they differentiate actuarial risk management expertise from that of competing professionals. A goal of the MMDP is to expand the understanding of the actuary’s special expertise in risk measurement and management for senior leaders and the C-suite. It is through this increased understanding that doors in broader financial services and potential other industries will open.

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