An Introduction to the ABCD For the Casualty Actuarial Society Course on Professionalism Copyright...

An Introduction to the ABCD

For theCasualty Actuarial SocietyCourse on Professionalism

Copyright © 2013 by the American Academy of Actuaries

The ABCD was established in 1991 to provide a single body in the U.S. to:

• Investigate actuaries compliance with the code of Professional Conduct

• Counsel actuaries in good professional practice

• Mediate disputes between actuaries and others


ABCD Membership

Appointed by Council of U.S. Presidents – CUSP Presidents and Presidents – elect of U.S. organizations

• 9 members total:

• A Chairperson

• Two Vice-Chairpersons

• 6 regular members


ABCD Processes

• Article X of the AAA bylaws • ABCD Rules of Procedure• Confidential, unless:

Actuary makes public or agrees to publication

Court requires disclosure


An ABCD Inquiry

The ABCD investigates cases (except in Canada) involving members of:

• The American Academy of Actuaries• The American Society of Pension Professionals and Actuaries• The Casualty Actuarial Society• The Conference of Consulting Actuaries• The Society of Actuaries• The Canadian Institute of Actuaries (in the U.S.)


An ABCD Inquiry

• Is a fact-finding effort, not an adversarial forum

• Examines whether or not an actuary materially violated the Code of Professional Conduct

• Does not administer discipline, but may recommend a level of discipline to an actuaries membership organizations


• Step 1: Initiation of Inquiry Complaint received

Reviewed by staff for completeness

Information based

Chairs review public document and decide to proceed

Sent to Subject Actuary (SA) for response


• Step 2: Chairs’ reviewChairs evaluate complaint and response for possible material

violation

Chairs decide whether to:Seek additional informationDismiss the complaintRefer the case for mediationCommence investigation


ABCD Inquiry Process

• Step 3: NotificationNotify Subject Actuary and complainant, if any, of Chairs

decision

Notify ABCD at next meeting



• Step 4: InvestigationAppoint investigator, subject to challenge by the Subject

Actuary

Investigator Obtains and reviews documents Interviews individuals involved Prepares report of results, i.e. facts as investigator

understands them Does not offer opinions or conclusions

Report sent to SA for responseCopyright © 2013 by the American Academy of Actuaries


• Step 5: ABCD considerationAll documents sent to ABCD members

Case discussed at ABCD meeting

ABCD decides whether to Seek additional information Dismiss (with / without guidance) Counsel the Subject Actuary Conduct a hearing



• Step 6: NotificationNotify Subject Actuary, complainant, and investigator of

decision

Schedule hearing if so decided



• Step 7: Hearing (NOT A TRIAL!!!)Conduct fact finding hearing attended by

Investigator Subject Actuary (SA may also have attorney present)

Witnesses

Hearing is recorded by a court reporter

Investigator presents results ABCD and SA question investigator

Subject Actuary presents case ABCD questions Subject Actuary



• Step 8: DeliberationsABCD discusses hearing and documents

Decides whether to Dismiss CounselRecommend discipline

Private Reprimand

Public Reprimand Suspension Expulsion

Obtain more information, reopen hearingCopyright © 2013 by the American Academy of Actuaries


• Step 9: NotificationNotify Subject Actuary and complainant, and investigator of

decision

If discipline is recommended, transmit to appropriate organization(s)

Statement of ABCD findings

All documents used by ABCD

Transcript of hearing


Joint Discipline Process

• Step 10: Joint Discipline Council (JDC) If discipline is recommended by ABCD, member organization(s)

will refer matter to the JDC

JDC is composed of the Presidents and Presidents-Elect of the five U.S.-based actuarial organizations

As needed, the JDC will form Disciplinary and Appeals Panels consisting of at least five members selected from the JDC Pool

JDC Pool is a group appointed by the member organizations in accordance with the Agreement on Joint Discipline


Joint Discipline Process

• Step 10: Joint Discipline Council (JDC) JDC Panels will conduct proceedings according to the JDC Rules of

Procedure for Disciplinary Actions

Decision by JDC Panel to suspend for more than two years or expel will be referred to the organization(s) of which the Subject Actuary is a member for a final disciplinary decision in accordance with organization(s) own procedures


Request for Guidance

• Private Guidance by ABCD memberExpresses member’s own opinion

• Private guidance by the ABCDExpresses views of the board



• Example of RFG Topics How do I know if I’m qualified?

How can I become qualified?

How can I do a job that involves more than one area of expertise?

How much can I rely on my staff?

How much documentation of my work should I save? What if I leave my company?

When should I refuse an assignment?

When should I make a complaint about another actuary?

When is a violation of the Code material?

When is a violation of the Code Resolved?



Actuaries can request confidential guidance by:

Contacting the ABCD office by phone or e-mail and requesting assistance

Telephone: 202-223-8196

Website: www.abcdboard.org

Contacting any ABCD member by phone or e-mail

www.abcdboard.org

Writing a letter to the ABCD office. 1850 M St., Suite 300, Washington, D.C. 20036


http://www.abcdboard.org/

http://www.abcdboard.org/

Mediation

• If all parties agree

• Facilitate resolution of issue without inquiry


QUESTIONS?Contact Brian Jackson at

[email protected]


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