In today’s increasingly complex financial landscape, and amid challenging global trends, Canada is fortunate to boast a strong, independent actuarial profession that plays a crucial role in safeguarding the economic security of individuals and businesses alike. Maintaining that strength has never been more important, and it requires the full support of all Canadian actuaries and the industries employing them.
At the heart of this profession stands the Canadian Institute of Actuaries (CIA), created by an act of Parliament 60 years ago as the only professional association dedicated to actuarial practice in Canada.
The CIA is at the forefront of advancing actuarial science in Canada, ensuring that the profession remains responsive to our country’s economic, demographic and regulatory realities. The CIA’s educational programs, practice resources, research initiatives and policy contributions are tailored to the Canadian marketplace, enabling actuaries to provide the highest service to our domestic financial institutions and programs.
Through the introduction of our qualification pathways, the CIA has ensured that we have an education system dedicated to Canada’s unique needs, one that is wholly administered and controlled by Canadians. This independence allows us to fully embrace the world-class actuarial science programs at Canadian universities and to develop an education syllabus tailored to Canadian actuarial practice and current world realities, leading to the CIA’s internationally transportable designations Associate (ACIA) and Fellow (FCIA) of the Canadian Institute of Actuaries.
While the CIA is a key contributor to the global actuarial scene, accountability to Canadians’ financial interests remains our priority. In a time where international alliances are fragile and subject to disruption, the CIA has reached a size and maturity that allows us to take charge of our future in all aspects of the mandate conferred by our constitutive act.
We acknowledge our long-standing relationship with American-based educational actuarial organizations – namely the Society of Actuaries and the Casualty Actuarial Society – and that many of our members proudly carry dual credentials, primarily from having attained actuarial designations from one of these institutions. Although these organizations have accommodated our education needs in the past, their focus – by membership and location – continues to be the U.S. regulatory and financial environment, which differs in key aspects from the Canadian system.
We ask you, as Canadian employers, actuaries and industry leaders, to prioritize CIA membership and education credentials. You will help reinforce a framework that aligns with Canadian regulatory bodies, enhances CIA professional authority, and strengthens the credibility of FCIAs and ACIAs operating in Canada and worldwide.
Furthermore, Canadian businesses, insurers and financial institutions are vested in ensuring that their actuarial professionals possess expertise tailored to the Canadian context. The FCIA designation reflects the highest standards of actuarial practice, preparing professionals for the unique challenges of our domestic market. Employers prioritizing CIA credentials contribute to a stronger, more unified profession that is better equipped to serve the long-term interests of Canadians.
Now is the time for Canadian actuaries and the industries they serve to reaffirm their commitment to the CIA. We invite you to engage with the Institute through membership, advocacy or participation in CIA-led initiatives, helping ensure that Canada remains a global leader in actuarial excellence.
We call on Canadian insurance and financial organizations to recognize the strategic importance of a robust CIA and to actively support its mission of upholding the highest actuarial standards within our country.
By standing together in support of the CIA, we not only secure the future of our profession but also the financial well-being of all Canadians. Let’s champion a uniquely Canadian actuarial identity – one that continues to thrive, innovate and lead on the world stage.
Contact me to share your thoughts and ideas. If you are a CIA member, visit the CIA Forum de l’ICA to discuss and exchange on this topic and others with all CIA members.
