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Monthly Newsletter 12.02.2024

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January 2024

WELCOME MESSAGE FROM THE PRESIDENT Welcome to the newly revitalized Caribbean Actuarial Association newsletter! As we step into this exciting phase, we are fully committed to rejuvenating, modernizing, and strengthening our communication channels. This transformation is more than just a new look—it's a promise to deliver value, engage more deeply with our members, and foster a vibrant community of actuarial professionals across the Caribbean.

This endeavour could not have been possible without the dedication and creativity of the communications team that preceded us. Their hard work has laid a solid foundation for us to build upon. To them, we extend our heartfelt gratitude and appreciation. As we embark on this journey for the next two years, we look forward to bringing you insights, news, and updates that resonate with our shared goals and aspirations.

As we step into another promising year, I am thrilled to revisit our guiding theme for 2023-2025, "Legacy and Linkages: Honouring Our Past, Building Bridges to Shape the Future." This theme captures the essence of our journey as a community - celebrating the rich heritage of the Caribbean actuarial profession while forging vital connections for a resilient future.

2023-2025 CAA Board Members From left to right, Nicola Barrett (PresidentElect), Simone Brathwaite (Immediate Past President), Rohan Hall (Treasurer), Varsha Panday (Secretary), Adolex Grant (Student Representative) , Glennfor Hellement, Ryan Ali and Nikita Gibson (Member Representatives).

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Celebrating Our Heritage & Future

Outgoing CAA 2021-2023 Board Pictured here (left to right): Kyle Rudden, Pedro Medford, Nicola Barrett, Simone Brathwaite, Judy Veira, Nikita Gibson, Sapna Chatlani and Glennfor Hellement. Missing is Cathy Allen.

As we embark on a new era for the Caribbean Actuarial Association, we extend our heartfelt gratitude to the distinguished leaders whose dedication has significantly shaped our path. Simone Brathwaite led with vision, steering the CAA post-COVID and advancing our strategic objectives with notable achievements. Judy Veira, as President-Elect provided essential support and foresight in our leadership succession, while Sapna Chatlani, our Treasurer, modernized our finances with unwavering dedication. Nicola Barrett's contributions have been pivotal in enhancing programs for our members and students, guiding their professional growth.

Kyle Rudden's leadership during challenging times ensured our resilience, alongside Glennfor Hellement's strategic insights. Pedro Medford's technological acumen brought us into a new digital era, and Nikita Gibson's vibrant leadership in chairing our conferences has made lasting impacts.

To these remarkable individuals, your efforts have fortified the CAA's legacy and set a course for a bright future.

Thank you for your commitment and transformative contributions.

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Highlighting Actuarial Excellence

John Robinson, FSA, FCA, MAAA Past President SOA, Hon. Member CAA

2023 CAA Conference: Balancing the Equation Hyatt, Trinidad and Tobago

In his ambassadorial debut as Past President of the Society of Actuaries, John Robinson shares his enriching experience at the CAA Annual Conference in Portof-Spain, Trinidad. From professional development sessions to spirited discussions on sustainability, social security, and the challenges of IFRS 17 implementation, Robinson provides a compelling overview of the actuarial profession's pivotal role in addressing global and regional issues. Special mention goes to the vibrant community spirit and the strategic insights into the future of actuarial science. Dive into Robinson's reflections for a deeper understanding of the conference's impact and the Caribbean actuarial community's forwardthinking approach. Read the full article here:-

Remembering Our Own St Elmo was a remarkable actuary, educator, and entrepreneur whose laughter and presence were unforgettable. Deeply influential, he left a lasting legacy through pioneering work and personal connections. – Shubash Gosine

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Global John Visits UWI Perspectives & St. Augustine Future Directions John Robinson's visit to UWI St. In the face of escalating climate challenges, COP28 stands as a pivotal moment for global environmental action. This section provides curated links to insightful articles and videos that delve into the outcomes, discussions, and innovations presented at COP28. Explore expert analyses, key takeaways, and forward-thinking strategies that emerged from this crucial summit.

IAA Report from COP 28 Caribbean Climate-Smart Accelerator Unveils Groundbreaking Climate Smart Map at COP28 Caribbean countries advance climate change agenda at COP28 One Caribbean at COP28: Sharing a Climate Resilient Future Executive Secretary Simon Stiell Speech at the Opening of COP28 Ministerial Keynote Address: Hon. Carlos James, Minister of Tourism, Government of Saint Vincent and the Grenadines Youth Activist from Sint Maarten Travels to UN Climate Conference Thanks to Local Support from NAGICO, Grant Thornton Facing the storm: Caribbean countries make urgent call for more equitable climate funding

Augustine as the immediate past President of the SOA inspired a historic engagement with the Actuarial Science Club. Through a seminar and participation in the CAA Conference events, Robinson demystified the actuarial profession, sharing insights from his own journey and emphasizing the value of diversity, equity, and inclusion. His candid discussions on the challenges and rewards of the actuarial path, coupled with personal anecdotes, left a lasting impression on students. This initiative not only enriched the students' understanding but also underscored the actuarial profession's broader applicability and the importance of perseverance.

Read Article by Student Dayanand M Moonoo here:-

Things to Ponder War gave us the Red Cross. Now climate disaster means we need a Green Cross too AP photos reveal intensity, insecurity and inequality in 2023 as world altered by climate change 4

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Community and Collaboration Get Involved: Join a CAA Committee Today!

The CAA is extending an invitation to our members to actively participate in shaping the future of our profession by joining one of our dynamic committees.

Each committee addresses vital aspects of actuarial work, from regional industry growth, diversity, equity, inclusion (DEI), and regulatory compliance, to specialized areas like climate change, life insurance, pensions, social security, and property and casualty.

Why Join?

Influence industry standards and growth.

Expand your professional network.

Contribute to meaningful change in our profession and communities.

Committees Awaiting Your Expertise: Regional Issues Climate Change Membership Development Specialized Areas (Life Insurance, Pensions, Social Security, Property & Casualty)

Charting Our Course: Together Towards Tomorrow As we wrap up this issue of our newsletter, we celebrate the Caribbean Actuarial Association's resilience and unity. Highlights from John Robinson's engaging conference insights to the touching memoriam of St Elmo remind us of the value in unity, knowledge, and active participation. Our work across various committees—tackling everything from climate change to professional development—reflects our dedication to our profession and to each other. Let's keep nurturing our legacy and connections, making every voice count. Together, we're not only advancing the actuarial profession in the Caribbean but also contributing to a more inclusive and sustainable future.

Thank you for your ongoing support and enthusiasm. Here's to continued growth and success in our community.

CAA Communications Team 5

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What's Happening IAA Banking Virtual Forum Banking Virtual Forum Webinar – Banking Resilience Risk Management Audience: All Date: 20 March 2024 / Time: 07:00 AM (EST) 13:00 PM (CET) The conventional approach to risk management involved the estimation of loss distributions from which provisions and capital could be allocated to absorb expected and unexpected losses. But what happens if a tail event occurs and the Bank is faced with recapitalising the Institution? Or with winding down the Institution without impacting the domestic real economy, or drawing on taxpayers funds or propagating stress into the bank sector? The answer to these questions can be found within the Recovery and Resolution Planning regulatory framework.

IAA Members and Actuaries are encouraged to attend this event if they are interested in understanding the: Reasons why Recovery & Resolution Planning was introduced into the banking sector regulatory environment Building blocks associated with Recovery & Resolution Planning frameworks, leveraging global regulatory standards and real-world experiences Requirements relating to Valuation in Resolution (ViR) Potential future direction of resilience risk management Opportunities for Actuaries seeking a move into the Banking Sector REGISTER HERE

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CONTACT US:

@caribbeanactuarial association caa.communications@caribbeanactuaries.com

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