The New Structure of the Caribbean Actuarial Association

COMMITTEES

Banking Committee

The CAA Banking Committee's mandate is as follows: 

  1. Explore opportunities for our members in the banking industry (and related financial institutions), particularly for those considering transitioning out of the traditional actuarial roles and the younger members trying to decide on their area of specialty. 

  2. Review the linkages between the life actuaries and those currently in banking, and how can those best be leveraged to the benefit of our members. 

  3. Inform our stakeholders, such as, the regulators and regional banks (and related financial institutions) of the advantages and purpose of having actuaries be a part of the banking industry and consider possible collaboration and ways which could elevate the role and visibility of actuaries in this industry.

Chair: Dane Doctor

Climate Change Committee

The CAA Climate Change Committee's mandate is as follows:

Shine a spotlight on climate change developments so that it becomes top of mind for all Caribbean stakeholders while conducting business and in their daily lives.

Chair: Rohan Hall

Common Standards Committee

The CAA Common Standard Committee's mandate is as follows: 

  1. Monitor professional actuarial standards of practice of the following organisations:  

    • International Actuarial Association (IAA). 

    • Society of Actuaries (SOA). 

    • Institute and Faculty of Actuaries (IFoA). 

    • Canadian Institute of Actuaries (CIA). 

    • Casualty Actuarial Society (CAS) excluded due to small number of CAA Casualty actuaries. 

  2. Assist CAA committees developing new Actuarial Practice Standards (APSs). 

Chair: Nicola Barrett

Communications Committee

The CAA Communications Committee's mandate is as follows:

  1. Content Creation and Curation: Develop engaging, informative content for the quarterly newsletter and various social media platforms. Ensure that all content aligns with the Caribbean Actuarial Association’s mission and vision, showcases key activities, and highlights relevant industry trends and member achievements.

  2. Audience Engagement and Growth: Implement strategies to increase audience engagement and grow our follower base across social media channels. This includes interactive posts, timely updates, and leveraging analytics to understand audience preferences and behaviours.

  3. Brand Consistency and Public Relations: Maintain a consistent brand voice and image across all communication channels. Manage public relations efforts to positively represent the association, its members, and the actuarial profession in the Caribbean.

  4. Feedback and Analytics Monitoring: Regularly monitor feedback from members and online audiences to gauge the effectiveness of communication strategies. Utilize analytics to measure engagement levels and adjust content and tactics accordingly for continuous improvement.

Chair: Nikita Gibson

Governance Committee

The CAA Governance Committee's mandate is as follows:

  1. Draft amendments to the CAA’s governing documents (by-laws, disciplinary process, etc.) as needed and directed by the Board of Directors.

  2. Provide procedural and other advice to the Board of Directors to assist them in meeting the Association’s goals while adhering to the governance documents.

Chair: Marcus Bosland

Life Committee

The CAA Life Committee's mandate is as follows:

  1. Uphold standards of practice for life practitioners and provide a platform for the creation and sharing of best practices across the Caribbean life insurance industry.

  2. Support the CAA’s life practitioners with council and advice pertaining to the life insurance industry.

  3. Facilitate the CAA members staying abreast with industry developments, regulations, opinions and research.

  4. Commission workgroups to lead projects related to the life actuarial practice.

Chair: Mark Longman

Membership Committee

The CAA Member Support Committee's mandate is as follows:

  1. Promote actuarial student programmes throughout actuarial employers in the Caribbean.

  2. Provide internship opportunities for university students studying actuarial science in the Caribbean.

  3. Provide mentorship opportunities for CAA members and university students studying actuarial science in the Caribbean.

  4. Provide scholarship opportunities for university students studying actuarial science and high school students interested in studying actuarial science in the Caribbean.

Chair: Nicola Barrett

Pensions Committee

The CAA Pensions Committee’s mandate is as follows:

Maintain the high standards and image of the actuaries who practice in pensions and other employee benefits in the Caribbean. 

  1. Monitoring – practitioners who are Members of the CAA should be suitably qualified and experienced to ensure that the advice and information given to the public is accurate and appropriate.

  2. Public Relations – create awareness of the CAA’s activities and mission.

  3. Events – create programming for live and/or virtual experiences.

  4. Governance

    • advocating and staying up to date with the industry’s laws and regulations.

    • review and update the professional standards.

Chair: Constance Hall

Pensioner Mortality Study Sub-Committee

A sub-committee conducted a Caribbean Pensioner Mortality Study in conjunction with the Society of Actuaries. 

Chair: Lisa Wade

Property and Casualty Committee

The CAA Property and Casualty Committee's mandate is as follows:

Monitor the General Insurance Industry. It prepared APS 4: General Insurance Unpaid Claim Estimates and APS 5: Premium Related Liabilities as well as The Caribbean Actuaries’ Climate Index Scoping Study.

Chair: TBD
Climate Index Working Group - Bertha Pilgrim (Chair)

Regional Issues Committee

The CAA Regional Issues Committee's mandate is as follows:

  1. Industry Growth and Development: Develop strategies to enhance the growth and evolution of the actuarial industry in the Caribbean. This includes identifying emerging market trends, promoting the role of actuaries in non-traditional areas, and fostering partnerships with regional and international bodies to facilitate knowledge exchange and professional development.

  2. Expansion of Actuarial Offerings: Focus on expanding the range and depth of services and resources available to actuaries in the region. This could involve creating new professional development programs, enhancing actuarial education and training, and providing platforms for actuaries to collaborate and share best practices.

  3. Legislative and Regulatory Advocacy: Monitor and respond to legislative, governmental, and regulatory changes that impact actuaries or the industries in which they operate. This includes advocating for favourable policies, providing input on new regulations, and ensuring that the actuarial community is well-informed and prepared to adapt to changes in the legal and regulatory landscape.

  4. Diversity, Equity, and Inclusion (DEI): Champion initiatives to promote diversity, equity, and inclusion within the actuarial profession in the Caribbean. This involves assessing current DEI practices, setting measurable goals for improvement, and implementing strategies to create a more inclusive and diverse professional environment. This may include outreach programs, mentorship schemes, and awareness campaigns to address barriers and biases in the profession.

Chair: Nikita Gibson

Social Security Committee

The CAA Social Security Committee's mandate is as follows:

  1. Provide periodic input to the Board on APS 3 and any questions that members may have on this Practice Standard.

  2. Monitor social security trends and activities that are relevant to the Caribbean and the CAA actuarial community.  

  3. Review published Caribbean related social security articles/papers etc. and prepare comments and feedback on behalf of the CAA.

  4. Represent the CAA on the IAA Social Security Committee (at least one member).

  5. Expose the CAA membership to social security activities in the region that either could affect their work or be of general interest.

Chair: Derek Osborne

Technical Steering Committee

The CAA Technical Steering Committee's mandate is as follows:

  1. Review all work done by the four technical committees which are Life, Pensions, Property and Casualty, and Social Security committees. This committee is chaired by Kyle Rudden, a CAA Past-President, and includes the Chairs of the technical committees, and meets as required.

Chair: Kyle Rudden

Technology Committee

The CAA Technology Committee's mandate is as follows:

  1. Technology Integration

    • Integrate user-friendly tools to facilitate seamless collaboration among members, the Board, and wider audiences.

    • Identify opportunities for enhancing and optimising current applications to better serve the needs of the members and the Board.

  2. Data Governance and Security

    • Establish and maintain robust data governance policies to ensure the integrity, security and confidentiality of member and organisational data.

  3. Member and Application Support

    • Provide a responsive support system for IT-related issues for all existing technology solutions and online platforms used by the CAA.

    • Oversee the administration and maintenance of all IT applications and online platforms, ensuring they meet the evolving needs of members and the Board.

Chair: Pedro Medford