American Academy of Actuaries

American Academy of Actuaries

Logo of the American Academy of Actuaries
Abbreviation	AAA
Formation	1965
Type	Professional association
Purpose	Serve the public on behalf of the United States actuarial profession.
Headquarters	Washington, DC
Region served	United States of America
Official language	English
President	Thomas F. Wildsmith IV
Main organ	Board of Directors
Website	www.actuary.org

The American Academy of Actuaries, also known as the “Academy” or the AAA, is the body that represents and unites United States actuaries in all practice areas. Established in 1965, the Academy serves as the profession’s voice on public policy and professionalism issues.

The American Academy of Actuaries' stated mission is to serve the public and the United States actuarial profession. To accomplish this:

The vision of the American Academy of Actuaries is that financial security systems in the United States be sound and sustainable, and that actuaries be recognized as preeminent experts in risk and financial security.

The Academy, in 1988, created the Actuarial Standards Board (ASB) as an independent entity, supported by AAA staff. The ASB serves as the single board promulgating standards of practice for the entire actuarial profession in the United States. The ASB was given sole authority to develop, obtain comment upon, revise, and adopt standards of practice for the actuarial profession.

In order to sign statements of actuarial opinion, an American actuary must be a Member, American Academy of Actuaries (M.A.A.A.). The Academy membership requirements are:

The Actuarial Board for Counseling and Discipline (ABCD) was formed to serve the academy and all other U.S. actuarial organizations. The ABCD considers complaints and questions concerning possible violations of the Code(s) of Professional Conduct. In addition, the ABCD responds to inquiries by actuaries concerning their professional conduct and, when requested to do so, provides guidance in professional matters.

The Academy has published a number of issue briefs and monographs addressing public policy issues from an actuarial point of view. Because the Academy is non-partisan, it avoids taking specific policy positions in these publications. Most tend to discuss the fiscal and economic considerations as seen by actuaries. In many cases several policy alternatives are discussed, and advantages and disadvantages identified for each. In some cases the Academy provides formal written or oral testimony to Congress or other governmental bodies. The Academy is often asked by the National Association of Insurance Commissioners (NAIC) to provide input on actuarial issues, and has provided the NAIC with a number of reports and statements. On occasion, the Academy has submitted amicus briefs on court cases that are of interest to the actuarial profession. Less formal comment letters and other explanatory materials have been provided to a number of external audiences.

The Academy publishes Contingencies magazine, a bimonthly publication that publishes articles on a wide range of issues related to the actuarial profession.