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Regulations of the profession

 Content Editor ‭[1]‬

Regulations of the profession

Code of Conduct for Actuaries Upon entering the DAV members commit themselves to abiding by the code of conduct of the DAV. It ensures that actuaries behave in a technically correct and consistent manner in the interests of the profession as a whole and of the general public, as well as assures the trust of their employers and the reputation of actuaries among the general public. This code of conduct is intended to help assure the independence, objectivity, specialist competence and integrity of actuaries when carrying out their professional duties. This code of conduct, which can be downloaded from the information box here, also applies to members of the IVS.

The Due Process for the Adoption of Professional Standards of Practice

Professional Standards of Practice are published by the DAV and/or the IVS and describe – alongside the code of conduct – the principles governing the proper conduct of the actuarial profession.

Professional Standards of Practice

  • deal with specialist actuarial issues,

  • have significant fundamental and specialist relevance for actuaries,

  • have been legitimated by means of a due process that enables all actuaries to be involved in the implementation process, and

  • have their proper application by members guaranteed by means of a disciplinary code in the event of non-compliance.

Before being adopted, every Professional Standard of Practice will have gone through a due process. Information on the Due Process for the Adoption of Professional Standards of Practice may be downloaded by clicking on the box on the right.

Obligation to Continuously Develop Professional Know-how and Expertise

Actuaries carry responsibility in the financial and insurance industries as well as for retirement provisions. Their work has a long-term influence on the economy and on society. At the same time, the scope of the work of actuaries is constantly expanding. Actuaries in the German Association of Actuaries are thus obliged, in line with the Association's code of conduct, to keep their professional know-how and expertise up to date, thus enabling them to perform their professional duties, by means of appropriate continuous professional training and development.

This obligation concerning continuous professional training and development was laid down by the members of the DAV in spring 2013 in Continuous Professional Development (CPD) Regulations which put this obligation in concrete form in terms of scope and documentation.

Alongside specialist insurance and financial topics, this professional training and development can include topics relevant to the actuarial profession such as, for example, legal issues as well as presentation techniques or personnel management. The range of learning and development courses and seminars on offer is constantly expanded and updated by the DAV and the German Actuarial Academy (DAA).

Disciplinary Code

In the event of non-compliance with the professional code of conduct or the professional standards of practice of the DAV the Association's disciplinary code is applied. It complies with international custom and practice. The disciplinary code and the stages of the disciplinary process can be downloaded in the downloads box on the right hand side.

Any member who is sanctioned with a disciplinary measure may, under the Association's constitution, lodge an appeal with the Board of the Association. If the Board does not grant the appeal then the case must be brought before the Appeals Committee for a final decision.


 Content Editor ‭[2]‬

Contact

If you have any questions regarding regulations please contact:

Marie-Louise Eberle
marie-louise.eberle@aktuar.de
+49 221/912 554-224

Further information

Find more information about regulations in the following documents:

Code of Conduct

Due Process for the Adoption of Professional Standards of Practice

Continuous Professional Development (CPD) Regulations

Disciplinary Code

 Content Editor ‭[3]‬

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