View Point
In My Opinion

DEI Increases Awareness of the Profession and Attracts Qualified Future Members; CAS Standards Remain High

By THE CAS DIVERSITY, EQUITY AND INCLUSION COMMITTEE
Posted on Opinion

The Supreme Court ruled that universities cannot use race as a consideration in the admissions process. The CAS has never used race and will never use race as a consideration in the admissions process.

The CAS strategic approach to diversity, equity and inclusion (DEI) strives to promote equality of opportunity along the entire actuarial career path and foster a sense of belonging and community among members of all identities. By doing so, the CAS can attract more qualified candidates to our profession, which is important to advance casualty actuarial science. Many of the CAS DEI efforts are focused on increasing the awareness of actuarial science as a profession, an explicit purpose of our Mission Statement.

One reading of this opinion piece by Khury and Finger might give the impression that the CAS DEI policies do something other than what they actually do. For example, the CAS is not “attempting to change the ratemaking principles” or applying anything other than “objective standards for credentialling,” yet these bullets imply otherwise. Rather than debate the accuracy of each bullet point-by-point, readers interested in the topic are encouraged to visit https://www.casact.org/about/diversity-equity-inclusion to read about the specifics of CAS DEI efforts.

Two items in the bullet list of this opinion piece are aspects of the CAS DEI efforts that may benefit from further commentary — the support of scholarships and the collection of data.

One reading of this opinion piece by Khury and Finger might give the impression that the CAS DEI policies do something other than what they actually do. For example, the CAS is not “attempting to change the ratemaking principles” or applying anything other than “objective standards for credentialling . . . . ”

 

Regarding the scholarship program, the CAS and the Society of Actuaries have jointly offered a diversity exam reimbursement program for more than 11 years. The aim of this program is to attract, encourage and provide support for aspiring actuaries from underrepresented communities, ensuring equal opportunities and fostering a sense of belonging. Participating in this program helps the CAS attract qualified candidates to our pipeline that otherwise might go on to choose a field of study other than actuarial science.

Regarding the collection of data, understanding the demographics of our members and candidates helps the CAS to achieve greater insight, which can be used to make strategic decisions that further our goals. For example, knowing that women constitute 47% of employees in the fields of mathematics but only 35% of our exam candidates might imply there are opportunities to attract more potential members to our pipeline, and knowing that Asian members represent 25% of CAS volunteers but only 11% of committee chairs might imply there are opportunities to better identify and train potential future leaders. The CAS collects this information only to better understand the diversity of our membership and monitor the effectiveness of the CAS Diversity, Equity, and Inclusion activities. This information is not displayed publicly in the online membership directory, and the data will only be published in the aggregate. Providing demographic information to the CAS is optional, and no member or candidate is treated differently based on the demographic information they provide or choose not to provide; 80% of CAS members and 90% of current exam candidates have provided this information voluntarily.

Knowing that women constitute 47% of employees in the fields of mathematics but only 35% of our exam candidates might imply there are opportunities to attract more potential members to our pipeline … .

 

The CAS’s actions in the area of DEI are constantly evolving. The CAS included specific questions on the DEI strategy in the quinquennial survey that was distributed in October 2023. All CAS members are encouraged to express their thoughts through responding to that survey so that the CAS can best consider the viewpoints of the membership in total.

CAS Board Director Jason L. Russ, FCAS, leads the DEI Committee, the members of which include CAS Appointed Board Director Stephanie Espy; CAS Vice-President Marketing & Communications Kimberly W. Guerriero, FCAS; and CAS Fellows and Board Directors Amber M. Rohde, FCAS, and Erika Helen Schurr.

Note to readers

Actuarial Review recommends that CAS members read the 239-page opinion, including the dissent. The opinion can be found at https://www.supremecourt.gov/opinions/22pdf/20-1199_hgdj.pdf.