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Committees Overview
The Actuarial Society supports actuaries and promotes the interest of the profession in the various practice areas in which its members operate. In order to accomplish this, different committees, task forces and forums are in place.
The Committee Handbook describes the Society Committee structure, provides guidance on how Committees should be run and also outlines what Council expects from Committees.
Practice Area Committees
The various Practice Area Committees are responsible for the technical and research work related to the main practice areas.
Council Standing Committees
These Council Standing Committees support the Practice Areas Committees in areas that impacts the whole actuarial landscape.
Council Task Forces
Council can establish Task Forces to complete a specific tasks or projects that are in support of the Society’s strategy and operations.
Task Forces are temporary in nature.
Practice Area Committees
Banking
The Banking Committee consider the actuarial involvement in this area. The committee’s objectives include investigation of key issues in the banking environment and providing guidance.
Climate Change
The Climate Change Committee ensure that the Actuarial Profession is well equipped to keep up with the evolving field of climate change with a goal to quantify the impacts of climate change on South Africa.
Damages
The Damages Committee assists actuaries and facilitates communication, discussion and liaison within the profession on relevant topics related to damage assessments in various fields.
Enterprise Risk Management (ERM)
The ERM Committee is responsible for growing and supporting the role of actuaries in the field of ERM.
Micro-Insurance
The Micro-insurance Committee is responsible for developing the interest of the profession in all areas related to Micro-insurance fields.
Investments
The Investments Committee advises Council and informs the Society’s membership on matters relevant to investment actuaries in South Africa.
Life Assurance
The Life Assurance Committee is responsible for developing the interest of the profession in the Life Assurance industry. This includes matters relating to the financial soundness of life assurers.
Healthcare
The Healthcare Committee supports actuaries and students practising in healthcare and improves the contribution of actuaries in order to enhance the understanding of healthcare issues.
Retirement Matters
The Retirement Matters Committee is responsible for support and development linked to retirement and related funds, including retirement
elements of National Social Security.
Short Term Insurance (STIC)
The Short-term Insurance Committee is responsible for developing the interest of the profession in the Short-term Insurance industry.
Standing Committees
Continuous Statistical Investigations (CSI)
The CSI Committee carries out research into and reports on mortality and morbidity experience in order to improve the factual basis on which actuarial decisions, particularly those relating to contingencies of life or health, are based.
Data Science Committee
The Data Science Member Committee is responsible for support and development of actuarial practice in the area of data science and related areas.
This is increasingly becoming a more relevant field to take note of for all actuaries.
Market Conduct Committee
This committee deals with matters relating to market conduct in areas in which members of ASSA are active.
“Market conduct” in relation to any entity means the entity’s pattern of behaviour in executing its product design, pricing and promotion strategies.
Research Committee
The Research Committee is responsible for the promotion of actuarial research in South Africa.
The research committee are actively engaged in obtaining funding and driving research for the profession.
Systems & Technology Committee
This committee was established due to the need for actuarial assistance and involvement in Systems and Technology areas. This committee aims to bridge the gap between IT and actuarial.
International Committee: Africa
The International Committee: Africa was established given the growing number of ASSA members who were working in countries on the African continent outside of South Africa.
Task Teams
Task Teams are established to address specific projects or scope of work from time to time. If Task Teams are established details will be listed here.
COVID-19 Task Team (Disbanded 2023)
The Task Team was established in 2022 to create a forum for ASSA members to learn, model, educate, inform, research, debate and influence COVID-19 developments.