Canadian Institute of Actuaries
Canadian Institute of Actuaries logo
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| Formation | 1965 |
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| Type | Professional body |
| Headquarters | Ottawa, Ontario, Canada |
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Membership
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5,137 as of November 20, 2015 |
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Official language
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English and French |
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President
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Robert Stapleford, FCIA, FSA |
| Website | cia-ica.ca |
The Canadian Institute of Actuaries (CIA) is the national organization of the actuarial profession in Canada. It was incorporated on March 18, 1965. The FCIA designation stands for Fellow of the Canadian Institute of Actuaries. As the national organization of the Canadian actuarial profession, the CIA means to serve the public through the provision by the profession of actuarial services and advice of the highest quality by: representing the Canadian actuarial profession in the formulation of public policy; promoting the advancement of actuarial science and sponsoring programs for the education and qualification of CIA members and prospective members; ensuring that actuarial services provided by its members meet accepted professional standards; and assisting actuaries in Canada in the discharge of their professional responsibilities.
The beginning of the actuarial profession in Canada can be dated in 1847, when the Canada Life Insurance Company was founded in Hamilton, Ontario, by Hugh Baker, who became a Fellow of the Institute of Actuaries in 1852. The federal Department of Insurance was established in 1875 and shortly thereafter recruited actuaries to its staff. The first actuarial organization in North America was the Actuarial Society of America, founded in 1889 in New York and included four Canadians among its 38 Charter Members.
The original organization of actuaries in Canada, the Actuaries Club, was founded in 1907 with 24 charter members, all actuaries living and working in Toronto. The Canadian Association of Actuaries was established on October 8, 1946, and included all members of the Actuaries Clubs of Toronto and Winnipeg as well as a group of Montreal actuaries. This was the organization that formed the membership basis of the CIA when it was established by an act of the federal parliament on March 18, 1965.
Following competitions, the Institute adopted the motto Nobis Cura Futuri, meaning We care about the future. A formal bilingualism policy was adopted by the Institute's Council in 1977.
The Institute is governed by a Board elected from the membership. The Board is composed of the following members:
The Board manages the work of the Institute. In accordance with the Bylaws, three councils are responsible for the performance of specific duties and report to the Board annually. Councils inform the Board of important initiatives. The Board's focus is on strategic management, not operational issues. It approves council membership and appointment of certain committees and a tribunal panel. It also sets membership fees and the operating budget for the Institute.
The Board causes councils and some 50 plus Board-appointed committees and task forces to initiate action on technical and professional issues. It also exercises due diligence on the activities of the councils.
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