Academy Member-Selected Director Nominations

The Academy’s Nominating Committee Guidelines recommend that candidates for Member-Selected Director positions have normally served the Academy or the actuarial profession by:

1. Serving on Academy committees or task forces.
2. Serving on the ABCD, or on the ASB or an ASB Committee.
3. Attainment of important stature in the insurance business, in actuarial consulting or in some other field of actuarial work, such as teaching and government.

The guidelines recommend that in selecting the slate of candidates, the Nominating Committee should emphasize the candidates’ ability and willingness to serve the Academy. In this respect, most of the candidates should be possible future candidates for officers of the Academy. Being a Member-Selected Directors is an important step to be considered for other and future leadership roles.

This recommendation in the guidelines leads the Nominating Committee to consider candidates who have acquired deep knowledge of the Academy’s culture and demonstrated attachment to its mission and vision through significant Academy volunteer experience, or candidates who demonstrate their attachment to the profession and a thorough understanding of the issues that affect it.

Additional considerations include creating a balance on the Board among members by specialty, business affiliation (type of employer, such as insurance companies or consulting firms), and employers. The Nominating Committee also considers diversity.

More broadly, qualities for good Board members include:

1. The ability to think strategically and analytically and to effectively communicate thoughts and the reasons for them.
2. Possession of earned respect of other key stakeholder group members.
3. The ability to work well with others as a member of a collaborative group with group decision-making authority and an understanding of the fiduciary duties of loyalty, care, and obedience.
4. Demonstrated understanding of the differences between “oversight” and “supervision.”
5. Earned reputation for emotional maturity, personal integrity, and honesty.
6. A demonstrated familiarity with the body of knowledge related to both the process for which the group is responsible as well as the substantive content of the subject area within which decisions and choices will have to be made.

Member-Selected Directors are expected to attend three Board meetings a year in person in Washington, D.C., and any additional special meetings, which are usually held virtually. Regular Board meetings occur in January, May, and October. Member-Selected Directors are also expected to participate in a Board orientation, which is usually scheduled in December after the November start to their term.

Participating in and preparing for Board meetings involves reviewing voluminous documentation. Member-Selected Directors, like all other Board members, are bound by their fiduciary duties of loyalty, care, and obedience. They are expected to participate regularly and effectively, and to maintain the confidentiality of Board discussions. They are also expected to understand the importance of and maintain the ability of the actuarial profession to self-regulate.

Member-Selected Directors are also expected to be willing to participate in Academy committees that draw from Board members. Not all Member-Selected Directors will be asked to participate in every committee:

• Audit Committee
• Personnel and Compensation Committee
• DEI Committee
• Committee on Membership
• Nominating Committee
• Budget and Finance Committee
• Strategic Planning Committee