Messages from the President

Thank you again Darrell, and many thanks to everyone who’s joined the event. 

It is an incredible honor to be selected for this role. This is not just a milestone for me, but it also represents a responsibility to serve both our profession and the public, and I take it very seriously. 

As I look out at this gathering of actuaries, partners and stakeholders in the Academy’s work I am reminded of why I fell in love with this profession nearly three decades ago. The ability to work side by side with such a talented group of people has been a huge contribution to my actuarial career.  When I joined the Academy as an Associate of the Society of Actuaries in 1996, I could never have imagined the journey that lay ahead. Four years later, when I earned my fellowship in 2000, I was beginning to understand that being an actuary meant more than technical excellence—it meant a commitment to serve the greater good. 

My volunteer journey with the Academy began in 2001 when I joined the Life Financial Reporting Committee of the Life Practice Council. My good friend, Greg Smith, talked me into it. I hope he is listening in right now!  I still remember how awed I felt, surrounded by actuaries whose expertise and dedication were a little intimidating; I wondered how I could add any value. But I was welcomed with open arms. There were “famous” life actuaries like William Hines, Errol Cramer, and Rob Frasca on committees with me. What I discovered was a group that welcomed diverse perspectives, valued my enthusiasm despite my relative inexperience, and believed in developing the next generation of volunteer leaders. It is because of that amazing experience that I am passionate about the Academy’s commitment to inclusive volunteer experiences and diversity of thought in our work. I would encourage every early career actuary to volunteer with the Academy or one of the other actuarial organizations. It does absolute wonders for your career development.  

Over the past two decades, the Academy has given me extraordinary opportunities. Serving as a member-selected director on the Board from 2017 until 2020 helped me better understand the Academy and its critical role in serving the public and the profession. It also taught me about the delicate balance between moving quickly and ensuring all voices are heard—a tension I believe we must continue to navigate thoughtfully.  

Chairing the Actuarial Standards Board was perhaps one of the most challenging and rewarding experiences of my professional life. I will give another call-out here to an experienced actuary that wanted to give someone early in their career, namely me!, a chance – Godfrey Perrott. He recommended me to take the open life seat on the Board. I learned so much about the hot topics at the time across all disciplines, and especially in pension and retirement!  Similar to my early volunteer experience, I was welcomed and mentored by the other Board members, all more experienced than I was. 

When I joined, the Chair was Al Beer, and he served as a great mentor to me, helping me understand the critical importance of the ASOPs and the ASB’s role in maintaining appropriate minimum standards for actuarial practice.  I was hooked, and my passion for actuarial professionalism continues, and will continue, for the rest of my life!  

During my tenure as Chairperson, the ASB hosted the only public hearing that has occurred during my actuarial career. I presided over that hearing, which for me solidified the critical importance of ensuring users of our actuarial work have enough information to understand the risks to which they are exposed.  Tom Terry was Academy President at the time, and I spoke with him often about these hot topics. I never would have imagined that I would someday sit in his seat!  

Throughout my volunteer journey, I have been fortunate to serve on numerous committees related to financial reporting, risk-based capital, and risk management. Even now, as an “experienced” (not old!) actuary, I am always impressed by the amazing volunteers around me, many of whom are being recognized today. 

Every committee I have participated in is full of passionate and expert actuaries willing to share their knowledge with others and help to provide unbiased, objective, and thoughtful input to public policy development. We are true stewards of financial security in the U.S.  

As I begin my term as President, I want to share my vision for the Academy and the priorities that will guide my leadership. First and foremost, we must recognize that we operate in an era of unprecedented change and uncertainty. The challenges we face—and the opportunities before us—are unlike anything previous generations of actuaries have encountered. Data analytics, artificial intelligence, cybersecurity, climate change, demographic shifts, and rapidly evolving regulations are transforming every aspect of our work.  

The Academy must be at the forefront of helping the profession navigate these changes while ensuring we continue to serve the public interest with objectivity and integrity. As the Academy Board has discussed this current uncertainty, it has become clear that there are new risks facing every practice area. Financial security for the U.S. public is more important than ever. 

Availability and affordability of insurance is a critical issue today, in particular related to health and property/casualty insurance. The entire insurance marketplace faces new risks related to solvency and sustainability. And we are all impacted by AI and advancements in data science.  

The Academy is uniquely positioned to provide leadership. We have the technical expertise to understand the issues and potential solutions. We have the independence to offer objective perspectives that are not colored by commercial or other interests. And we have the credibility to serve as a trusted voice for policymakers and the public. I am committed to ensuring that the Academy continues to advance thoughtful, well-researched perspectives on these critical issues. Professionalism remains the cornerstone of our profession’s value to society through the standards the Academy sets for our work. These standards enable the public to place trust in actuarial analysis. 

This trust is not automatic—it must be earned through consistent, high-quality, professional, and ethical work. While we are in a relatively strong position regarding professionalism today, we cannot become complacent. We must ensure that all actuaries understand their professional responsibilities through ongoing education and communication.  

Last month, the Board updated the Academy’s strategic plan. We did this to simplify and clarify the Academy’s strategy, not change it fundamentally. I am especially committed to three strategic objectives during my presidency. First, we must equip our members with the appropriate resources to attain and maintain a high level of professionalism. This means providing more than technical guidance.  We must ensure actuaries understand our Code of Conduct and standards of practice, since these are key tools that make us trusted advisors to our principals and the public at large.  

Second, we must provide the public with unbiased information that incorporates diverse viewpoints on actuarial issues. This is perhaps the most fundamental aspect of our mission.  

When we offer perspectives on lifetime income security, pension funding, healthcare reform, or insurance regulation, we must do so with care, objectivity, and transparency.  Our work products should reflect the full spectrum of actuarial opinion: this diversity of opinions and experiences drives our credibility.    

Third, we must promote visibility of our organization and our work. The Academy produces in the neighborhood of 300 insightful, objective, and impactful work products every year. Many of these only make it to a handful of stakeholders. I am committed to increasing the visibility of our work and the visibility of the Academy through a well-designed stakeholder engagement strategy. We do amazing things, and we should not be a “best-kept secret”! 

Let me share a word about how I will approach the role of President. My leadership style is collaborative, energetic, and focused. I recognize that there can be a fine line between ensuring all voices are heard and being able to move forward with decisions. 

I will work to honor both imperatives—creating space for dialogue while maintaining our ability to act decisively when needed. 

I also recognize that I do not have expertise across all practice areas. When dealing with issues outside my primary areas of experience, I have, and will continue to, leverage those with deeper knowledge. I also want to acknowledge something important: I have a demanding day job, and I do not have unlimited time to devote to this role. I have been deliberate in preparing for this commitment, reallocating work responsibilities and personal time to ensure I can serve effectively. My firm, Risk & Regulatory Consulting, has been incredibly supportive, and my family, knowing that I love to be busy, has encouraged me to take on this responsibility. My amazing Academy co-leaders are also my support system!  Darrell and Lisa have volunteered more than once to help me where needed, and every Board member is sharing in our strategic leadership. I share this because transparency about volunteer service is important. Not all of us can commit unlimited time, and that is okay. What matters is that we bring our full commitment and best efforts to the time we do devote to Academy service. 

As I look ahead to this year of service, I am energized by the opportunities before us. The Academy has never been more important or more relevant. The challenges facing our profession and the public we serve are significant, but so too are our capabilities and our commitment. This is work worth doing. The Academy’s mission is a mission worth serving. And I am deeply honored to have this opportunity to lead the Academy during this critical year. 

I want to close by expressing my profound gratitude—to those early mentors that welcomed me to volunteer opportunities, to those who nominated me, to the Board members who will serve alongside me, to the Academy staff who make everything possible (and treat me like a queen), and to all of you who contribute your time, expertise, and passion to advancing our profession and serving the public. The Academy has been at the center of my professional growth and development. It has challenged me, stretched me, taught me, and given me the privilege of working alongside some of the most talented and dedicated professionals I could ever hope to meet. 

As I embark on this presidential year, I do so with humility, determination, and optimism. I know that together—drawing on our collective expertise, our commitment to professionalism, and our dedication to serving the public—we can meet the challenges ahead and strengthen the Academy’s vital role in society. Should you ever wish to reach me during the year, please feel free to send an email to president@actuary.org. 

Thank you for this extraordinary opportunity to serve. I look forward to working with all of you in the year ahead.