Actuarial Outpost
 
Go Back   Actuarial Outpost > Actuarial Discussion Forum > General Actuarial
FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions


General Actuarial Non-Specific Actuarial Topics - Before posting a thread, please browse over our other sections to see if there is a better fit, such as Careers - Employment, Actuarial Science Universities Forum or any of our other 100+ forums.

View Poll Results: Thoughts on the merger
CAS member - yea 7 3.63%
CAS member - meh 7 3.63%
CAS member - nay 85 44.04%
SOA member - yea 30 15.54%
SOA member - meh 15 7.77%
SOA member - nay 8 4.15%
P&C Student - yea 2 1.04%
P&C Student - meh 1 0.52%
P&C Student - nay 25 12.95%
Life/Health/Pension Student - yea 8 4.15%
Life/Health/Pension Student - meh 1 0.52%
Life/Health/Pension Student - nay 0 0%
Other - yea 2 1.04%
Other - meh 1 0.52%
Other - nay 1 0.52%
Voters: 193. You may not vote on this poll

Reply
 
Thread Tools Search this Thread Display Modes
  #51  
Old 10-11-2018, 05:56 PM
Maphisto's Sidekick's Avatar
Maphisto's Sidekick Maphisto's Sidekick is offline
Member
CAS
 
Join Date: Nov 2001
Location: South Park Genetics Lab
College: Ardnox
Favorite beer: The kind with alcohol
Posts: 2,731
Default

Quote:
Originally Posted by PeppermintPatty View Post
Last I looked (for a women for whom it was directly relevant) I couldn't find that they were still doing that.
I could be mistaken, but I think the expiration of the recognition of CAS exam credits in lieu of GI would have happened around the time the CAS must have approached the SOA about joint exams.

I imagine that if the appearance of detente weren't a concern, someone in a situation of needing GI track credit for a CAS exam could get it by petitioning the SOA and documenting how the exams they've passed correspond to the credits they seek.
Reply With Quote
  #52  
Old 10-11-2018, 08:05 PM
Kalani Sitake's Avatar
Kalani Sitake Kalani Sitake is offline
Member
CAS
 
Join Date: Aug 2016
Posts: 1,388
Default

Quote:
Originally Posted by llcooljabe View Post
Is there a recording or transcript of the webcast?
There is a recording up now. I haven't watched it yet.

https://vimeo.com/294617701
__________________
ka-lah-nee sih-TA-kay
Reply With Quote
  #53  
Old 10-11-2018, 08:34 PM
FactuarialStatement's Avatar
FactuarialStatement FactuarialStatement is offline
Member
CAS
 
Join Date: Oct 2012
Studying for 5
Favorite beer: Beer
Posts: 2,045
Default

If SOA were smart they would offer all ACAS FSA-GI indefinitely.
__________________
P | FM | 3F | 3ST | 3LC | C | 5 | 6 |
OC1 | OC2 | COP
Econ | Stats | Corp Fin
ACAS
Reply With Quote
  #54  
Old 10-12-2018, 12:38 AM
Joshua0317's Avatar
Joshua0317 Joshua0317 is offline
Member
CAS
 
Join Date: Apr 2012
College: UW - Madison Alum
Favorite beer: Hoegarden
Posts: 1,038
Default

So I listened to the townhall recording and came out with a bunch of snarky notes. Overall, I still do not see why this is something that is necessary or worthwhile. To save yourself time watching an hour video, I summarized the main points and the still pending questions I have from each.

*Townhall main point 1: A larger organization is better at leading future analytic development.

Residual Questions:
Says who? Many of the advances in analytics has been accomplished by people trained from a wide variety of universities and industries.


*Townhall main point 2: Education will be as rigorous, or MORE rigorous keeping credentials meaningful.

Residual Question:
How can it be more rigorous then 20 to 40% pass rates on over 9 exams? Will new FCAS-equivalents need to move things with their minds?


*Townhall main point 3: You can keep FCAS for life.

Residual Question:
If the new track is more rigorous and becomes respected, how can a Fellow remain appealing when compared to the new credential?
New credential will be available, but will it be without additional exams?


*Townhall main point 3: New Opportunities will emerge with combined resources.

Residual Questions:
Who will have more resources?
Exactly what is the amount of savings at the new scale compared to stand alone?
Why is the focus on leaving the insurance space?
Are we going to spend tons of money to lobby regulations in other industries that require an actuary to sign things?


*Townhall main point 4: Unified Education System

Residual Question:
Why is this impossible without a merged organization?
Why is it an irrevocable choice to give up GI to re-join preliminaries?


*Townhall main point 5: Diversity of Thought

Residual Question:
We have joint task forces today when things pertain to both organizations.
Merging into one would presumably reduce diversity of thought in the future.


*Townhall main point 6: Stronger Global Brand

Residual Question:
Regulators understand today, how is adding a new org more recognized?
The core branding of my employment is as an "actuary". That is what draw in candidates far before they reason out the different paths to that career.


*Townhall main point 7:Organization Basics:
Practice Board handles function as normal boards today
Cross profession things, the org board can step in

Residual Question:
So now we actually have more boards to upkeep?
How is this simpler or more efficient?


Observations:
*SOA President Chuckles as comparison of rigor on GI vs FCAS
*I felt the amount switching between the two for single slides was very distracting. Yeah that isn't really meaningful to the discussion, but let's get real you gave up reading this long, obnoxious post at point 1. But really, is flipping every other sentence to each other supposed to invoke unity?
Reply With Quote
  #55  
Old 10-12-2018, 01:41 AM
Westley Westley is offline
Member
 
Join Date: Nov 2001
Posts: 27,664
Default

Quote:
Originally Posted by Joshua0317 View Post
...let's get real you gave up reading this long, obnoxious post at point 1...
Not true, thanks for sharing your thoughts!
Reply With Quote
  #56  
Old 10-12-2018, 02:08 AM
YetAnotherCareerChanger YetAnotherCareerChanger is offline
Member
CAS
 
Join Date: Jan 2014
Posts: 3,136
Default

Quote:
Originally Posted by Joshua0317 View Post

*Townhall main point 4: Unified Education System

Residual Question:
Why is this impossible without a merged organization?
Why is it an irrevocable choice to give up GI to re-join preliminaries?
The SOA has made it clear they want to be in the GI space, which is the P&C space. To offer unified preliminaries to a direct competitor (however incompetent) is not a "winning" strategy. It's hard to be friends with someone who's trying to steal yo job.

It would definitely be best for students to rejoin the earlier exams but the SOA have put themselves into a position where they have doubled down a bunch. If they want to show a good faith effort to work together, they'll have to drop the FSA:GI. Which seems like it's probably a wise move under the sunk cost fallacy.
Reply With Quote
  #57  
Old 10-12-2018, 03:35 AM
PeppermintPatty's Avatar
PeppermintPatty PeppermintPatty is offline
Member
CAS
 
Join Date: Sep 2001
Posts: 39,140
Default

Quote:
Originally Posted by Westley View Post
Not true, thanks for sharing your thoughts!
Ditto, thanks for saving me the time of watching.
Reply With Quote
  #58  
Old 10-12-2018, 03:39 AM
PeppermintPatty's Avatar
PeppermintPatty PeppermintPatty is offline
Member
CAS
 
Join Date: Sep 2001
Posts: 39,140
Default

Quote:
Originally Posted by YetAnotherCareerChanger View Post
The SOA has made it clear they want to be in the GI space, which is the P&C space. To offer unified preliminaries to a direct competitor (however incompetent) is not a "winning" strategy. It's hard to be friends with someone who's trying to steal yo job.

It would definitely be best for students to rejoin the earlier exams but the SOA have put themselves into a position where they have doubled down a bunch. If they want to show a good faith effort to work together, they'll have to drop the FSA:GI. Which seems like it's probably a wise move under the sunk cost fallacy.
So, basically, the SoA is saying "we refuse to cooperate at all unless you submit to assimilation"? That hardly feels like they are operating in good faith.

They could cooperate on joint exams, grant an fsa to fcas (and heck, keep their own track, too, if they want) and brand it internationally as an fsa-gi if they want. They did claim this was about the international market, right? They don't have to eat the CAS to do that.
Reply With Quote
  #59  
Old 10-12-2018, 09:38 AM
angryleslieknope angryleslieknope is offline
Member
CAS
 
Join Date: Apr 2016
Studying for 5
College: Roll Tide - alumnae
Posts: 162
Default

Quote:
Originally Posted by PeppermintPatty View Post
So, basically, the SoA is saying "we refuse to cooperate at all unless you submit to assimilation"?
This is the impression I came away with. Admittedly I am both on the CAS track and naturally a cynical person, so take that for what it's worth.
__________________
P FM C S MFE
Reply With Quote
  #60  
Old 10-12-2018, 09:44 AM
bsanders33 bsanders33 is offline
Member
CAS
 
Join Date: Jun 2018
Posts: 119
Default

This proposal is a loser for working actuaries with an fcas designation.

I will be voting no, as will all the colleagues whom I have spoken to about it.

Well ... actually there is one who is undecided. He’s very close to retirement though, fwiw.
Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 12:07 PM.


Powered by vBulletin®
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
*PLEASE NOTE: Posts are not checked for accuracy, and do not
represent the views of the Actuarial Outpost or its sponsors.
Page generated in 0.32998 seconds with 12 queries