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Committees

Big Data Working Group

Terms of Reference

Approved - 6 June 2016

1.  Membership

Individual members of the BDWG are selected by the BDWG Chairperson and Vice-Chairpersons based on expertise and interest of individuals, some of whom may be non-actuaries.

2.  Purpose

To serve as a working group within the IAA devoted to identifying and discussing opportunities and practices for actuaries working with Big Data.

3.  Role

  • Identify what technical work actuaries are already doing or could do with Big Data.
  • Create a forum for actuaries working with Big Data or actuaries who would like to work with Big Data to share knowledge and expertise.
  • Identify Big Data experts, both actuaries and non-actuaries, with whom the IAA can work to develop this practice area.
  • Encourage and facilitate the IAA’s involvement in Big Data forums where the IAA and its members can both learn from and add value to other participants
  • Encourage communication and sharing of information on Big Data related topics, which may take the form of papers, international seminars and convention presentations.

4.  Decision-making authority

The BDWG operates within the IAA Statutes and Internal Regulations and makes recommendations for consideration by the Scientific Committee, which will, to the extent necessary, make recommendations to the IAA Council or the Executive Committee as appropriate. 

5.  Operational Matters

Frequency of Meetings: 
The BDWG will meet at least four times per year either in person or by teleconference. At the discretion of the Chair, there may be additional teleconference meetings.

Agendas and papers:  
All meetings will have a formal agenda agreed by the Chair, which must generally be distributed, along with required papers, at least one week before each meeting. Agendas and meeting papers are made available on the BDWG webpage on the IAA website.

Minutes: 
Minutes of each meeting will be prepared and distributed as soon as practicable after each meeting. Minutes will be posted on the Big Data Working Group page on the IAA website.

Reporting on Working Group Activities:

  • The BDWG will report on its activities to the Scientific Committee and the Chair will prepare a draft workplan and budget for the next calendar period for approval by the Scientific Committee.
  • The Chair will provide a written report to the IAA Secretariat after each BDWG meeting, providing an update on its activities.

IAA Liaison:
The BDWG will liaise with other IAA Committees and Sections as required to undertake its role and activities.

External Liaison:
The BDWG will liaise with external stakeholders as required to carry out its role and activities. These liaisons are subject to any requirements or processes of the IAA Statutes and Internal Regulations.

Other operational matters:
The BDWG will share information regarding developments and initiatives in relation to Big Data via its webpage on the IAA website.

6.  Taskforces Reporting to the Working Group

The Working Group may form task forces to carry-out particular projects, subject to approval by the Scientific Committee.