In the case where internal resources are used to perform actuarial work, the social security institution maintains adequate staffing levels and provides the actuarial department with the necessary resources to ensure that tasks can be carried out effectively.
This guideline should be read in conjunction with Guidelines 49 and 51.
Guideline code
ACT_05800
Mechanism
Mechanism
- The social security institution should coordinate its business, budget and human resource planning activities.
- Identified gaps in competencies, qualifications and/or experience may be closed through the combination of appropriate training programmes using external or internal resources and appropriate hiring/retention strategies, as well as other applicable measures.
- An actuarial department should identify technological and infrastructure resource requirements needed to perform actuarial work. These resources may include specific software (e.g. computer programs used for actuarial valuations, databases, management tools, etc.) and hardware (e.g. computers with sufficient computational and memory resources). These requirements should be documented, justified and discussed with the management.
- An actuarial department should identify resource requirements associated with business continuity in situations where it is affected by different levels of business interruption. These requirements should be documented, justified, discussed with the management, and reflected in the social security institution business continuity plan.
- If, in undertaking an actuarial valuation, the actuary feels that the resources available to him/her are not sufficient, this should be raised as soon as possible with the relevant internal person or department.
Structure
Principles
- The social security institution should ensure the alignment of its planned activities that involve actuarial input with the availability of the appropriate human resources. Where the staffing level is found to be inadequate, appropriate human resource strategies, including the necessary budget, should be developed and implemented.
- The social security institution should identify which competencies are required to carry out the actuarial work. Where gaps in competencies, qualifications and/or experience are identified, a detailed plan should be put in place to indicate how to close these gaps.
- The social security institution should recognize specific technological needs of an actuarial department and ensure that they are properly met.
Title HTML
Guideline 50. Staffing and infrastructure
Type
Guideline_1
Weight
61