Having been off the CAS Board for only a few years, I am amazed how out of touch 18 board members can become. Leaders want to “do something big” during their term, even if their hasty projects may be vehemently opposed by most members (and candidates).
The Part 5 debacle was one example, but now to seriously consider uniting with SOA, after all the assaults directed at the CAS over the last several years, is incredible, particularly in light of how united the CAS previously was in maintaining our autonomy and high reputation. I invite all members to peruse previous board minutes to see frequent resolutions and initiatives to this effect.
They added more statistics to the syllabus to strengthen our education where the preliminary education of the SOA was weak. They fought against the SOA GI track (successfully, with tacit support from many regulators), holding out our own exams as the much-superior gold standard. These efforts were good things that helped the CAS! Although many details are now shrewdly being withheld, rest assured that much of this progress will be undone if this vote passes.
I hope the many new Fellows recognize that this rushed approach, with little consideration of membership views, is directed toward you, hoping you will obediently vote for it without thinking about the hard work you spent getting this prestigious credential, only to see it essentially handed out to any SOA member who wants one. Vote No and preserve the CAS.
—Ken Quintilian, FCAS, MAAA