Time and Time Again
This scenario is based on the Chair of a working party trying to schedule a regular meeting time that is not convenient for participants in different time zones.
Time and Time AgainLeft in the Lurch
Graeme, a manager, is in a team project planning meeting with some colleagues. He makes assumptions about his colleagues’ work capacity due to their personal circumstances and asks personal questions in the team meeting.
Left in the Lurch
A Conflict of Advice [2022/23]
Amy has just been recruited by MultiBig plc as the in-house actuary to advise on MultiBig’s employee pension scheme. Leonard, the Chief Operations Officer at MultiBig plc, asks Amy to provide commentary and a second opinion on a number of matters in relation to the pension scheme. Following the meeting, Amy prepares a report with some discussion points for the Scheme’s Trustee Board. Amy issues the report to Leonard, who is also the chair of the Trustee Board, for discussion at the forthcoming meeting. Priya, an external consultant, and Scheme Actuary to MultiBig’s pension scheme, is preparing her usual report for the Trustee Board meeting. At the Trustee meeting, Leonard presents Amy’s findings. Some of the points raised contradict the points in Priya’s report.
A Conflict of Advice
A Breakdown in Communication [2022/23]
Sophia, an actuary, accepts an instruction from a solicitor acting in a divorce settlement to provide a pension report on behalf of a client. The timescale to conduct the work is particularly tight and, due to unforeseen circumstances beyond her control, Sophia exceeds the original deadline and sets a new one. All progresses well until Sophia becomes ill and misses the second deadline and her failure to communicate causes further issues.
A Breakdown in Communication
Testing the Model [2022/23]
Ethan has been asked to develop a model to analyse an extensive set of data, including data external to his firm, with a view to implementing prices for a new product. His firm believes that it has access to a volume of data which will give it a competitive edge and has tasked a team of specialist modellers consisting of data scientists and Ethan, to develop a market-leading set of prices. Although there is time to develop and test the model, Ethan has concerns that there is insufficient time to comply with key aspects of the Actuaries’ Code and TAS 100.
Testing the Model
