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Developing Actuarial Judgement

34 Pages Posted: 19 Jan 2013 Last revised: 11 Apr 2016

Anthony Asher

University of New South Wales (UNSW) - School of Actuarial Studies; Centre for International Finance and Regulation (CIFR)

Date Written: January 11, 2013

Abstract

Explicit actuarial capability frameworks are being developed to measure actuarial quality as a basis for pre- and post-qualification learning goals. These frameworks focus on the development of broader and normative capabilities that can be described as actuarial judgement. This paper explores different perspectives on how actuarial judgement might be identified and developed. It suggests that actuarial students need more help in developing personal and coherent frameworks with which to evaluate their decisions. The actuarial core technical syllabuses should be extended to include more ethical issues and a critique of positive economics. Ethical issues should include some understanding of the rationalizations that accompany unethical and corrupt behaviour. Committed teachers and mentors prepared to address ethical conflicts in practical cases play a role that needs greater emphasis.

Keywords: Actuarial, Judgement

JEL Classification: A20

Suggested Citation

Asher, Anthony, Developing Actuarial Judgement (January 11, 2013). UNSW Australian School of Business Research Paper No. 2013ACTL03. Available at SSRN: https://ssrn.com/abstract=2202611 or http://dx.doi.org/10.2139/ssrn.2202611

Anthony Asher (Contact Author)

University of New South Wales (UNSW) - School of Actuarial Studies ( email )

Sydney, NSW 2052
Australia
612 9385 7619 (Phone)

HOME PAGE: http://www.asb.unsw.edu.au/schools/Pages/AnthonyAsher.aspx

Centre for International Finance and Regulation (CIFR) ( email )

Level 7, UNSW CBD Campus
1 O'Connell Street
Sydney, NSW 2000
Australia

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