Candidate Information Richard Daillak

Name: Richard Daillak
Practice Area: Life
Employer: Swiss Re America Holding Corporation
City, State: Armonk, N.Y.
Credentials: MAAA, FSA

Candidate Biographical Sketch

Richard Daillak is vice president and actuary of Swiss Re America Holding Corporation. He has 32 years of experience as an actuary. Prior to joining Swiss Re in 2005, he was vice president and actuary at MetLife, where he worked for nearly 21 years, and for two years, he was a consulting actuary with The Wyatt Company. His experience has been diverse, first in group insurance, then individual insurance financial management, individual life reinsurance, risk management, and most recently as a senior regulatory officer addressing issues affecting both life & health and property & casualty reinsurance, including group supervision, ORSA and international solvency standards.

Why I want to serve on the American Academy of Actuaries’ Board of Directors

Working with actuaries in life, health, and property & casualty re/insurance has brought home to me the incredible diversity and talent within our profession. The Academy uniquely bridges those specialty areas and lets the profession bring its skills to bear in a coordinated way on issues of public importance. The opportunity to further aid the essential work of our volunteer groups and the Academy through service on the Board would be an honor.

What I believe are the most important issues facing the American Academy of Actuaries

First, maintaining the high standards and reputation of the profession is key. Legislators, regulators and the public rely on the Academy for sound, unbiased, professional advice. Industry and consumers look to our members to design and value products that deliver on their promises. The complexity of the issues to be dealt with is increasing, and at the same time, as a profession, we have asked our stakeholders to enlarge the scope for actuarial professional judgment, for example, in tasks within life principle-based approaches and in constructing, validating and interpreting internal models for solvency assessment. It is essential that we continue to be trusted to perform these tasks well.

Second, accomplishing this isn't just about standards of individual performance; it is equally about mobilizing the right teams of volunteers to analyze the issues well, understand the technical dynamics, and establish and communicate effectively the necessary guidance. Volunteer resources must be recruited, assisted and used wisely on the most important tasks. We have no spare resources to waste.

Academy Service

Chairperson, Life Reinsurance Work Group, 2012-2014, Member, 2007-2012
Member, Life Practice Council, 2012-2014
Member, Financial Regulatory Reform Task Force, 2011-2014
Member, Reinsurance Committee, 2011-2014
Member, Life Capital Adequacy Subcommittee, 2011-2013
Member, Valuation Law & Manual Team, 2006-2011
Member, Regulatory Interface, Governance and Peer Review Work Group, 2006-2008