Actuaries can use the CAS Capability Model to self-assess their traits, skills and knowledge important for most property/casualty actuaries, identify areas of opportunity to learn and grow, and then plan their professional development journey.
The CAS Capability Model will be leveraged in the development of the CAS’s professional education offerings, ensuring the current and future relevancy of our programming and further enabling the CAS to help actuaries build skills for the future and advance in their careers.
The CAS Capability Model will be leveraged in the development of the CAS’s professional education offerings, ensuring the current and future relevancy of our programming and further enabling the CAS to help actuaries build skills for the future and advance in their careers.
The CAS Capability Model is a strategic resource that differentiates the CAS from other organizations serving the actuarial profession. The CAS is the gold standard in credentialing property/casualty actuaries, and the Capability Model demonstrates the same commitment to continuing education.
The CAS Capability Model is not intended to replace and should not impact any nation’s qualification standards.
Capability models are common across many industries and professions, and there are three other examples within the actuarial profession. The Society of Actuaries, the Actuaries Institute (Australia) and the Society of Actuaries in Ireland have developed capability models for their members.
The development of the CAS Capability Model was managed by a task force of volunteers, led by the CAS Vice President – Professional Education. The task force gathered input from a variety of stakeholders while developing the model, with the published work product reflecting feedback from a survey of the entire CAS membership, the CAS Employer Advisory Council, Candidate Advocate Working Group, Risk Management Committee, Member Advisory Panel, and the CAS Board of Directors.
The first step would be to review the components of the Capability Model – the attributes important for most property/casualty actuaries and the levels of experience for each capability.
Each attribute is organized according to three levels of proficiency: Level 1, Level 2, and Level 3, with Level 1 being the most basic and Level 3 being the most advanced.
The second step would be to complete a self-assessment against the model. Once you understand the components of the model, you can self-assess your experience against the attributes and levels of the model.
Based on the self-assessment, the third step would be to identify areas of opportunity to learn and grow, and then plan your professional development journey, utilizing the CAS’s continuing education programs.
The CAS Professional Education webpage includes a calendar of upcoming events and other resources to aid in your professional development as an actuary.
While actuaries can complete individual self-assessments against the model on their own now, to further facilitate self-assessments, the CAS is developing an online tool that will be launched early 2024.
In addition, based on the self-assessment, a custom learning plan will be essential to help identify CAS educational content that could assist actuaries in moving from one level to the next.
The CAS Capability Model promotes the full range of the property/casualty actuarial skill set and the essential contributions of actuaries to the insurance industry. Employers can use the CAS Capability Model as a tool for understanding the current capabilities of staff and identifying future continuing education or training for staff, thereby supporting actuaries’ career development.
Employers should not use the Capability Model in hiring or in performance appraisals as there are so many unique factors to each employer and employee that the Model does not consider.
No, the CAS Capability Model does not affect basic education.
The CAS Capability Model is a dynamic tool that will evolve over time as the actuarial profession evolves. Feedback from practicing actuaries on the Model is welcome, as this feedback will help identify potential future updates.
