Edition

Strategic Review of Governance Structure

The Society of Actuaries Board of Directors is beginning an important new project to review aspects of the organization's governance structure. This initiative aims to ensure that the SOA’s governance framework is well-positioned to support the organization's long-term success and effective implementation of its strategic plan.

Over the years, the SOA has regularly reviewed and updated its governance framework leading to many changes and improvements. This project will address several challenges including how to embrace the SOA’s role as a global organization and ensure that our growing global membership is well-represented in our governance structure. The project is intended to strengthen the Board and the SOA’s ability to carry out its strategy on behalf of members, candidates, and actuarial employers, while maintaining the key characteristics of a professional community and helping to meet the profession’s responsibilities to the public.

As this project proceeds, the Board is committed to regularly communicating with members about the project, including gathering member feedback on governance ideas surfaced during the work. This may be done through stakeholder conversations, focus groups, and member surveys. The Board considers effective member input into this project crucial to its success.

A Governance Review Task Force has been formed to lead this review. The Task Force is comprised of ten participants, including SOA members and current and former Board members. Individuals have been selected based on their extensive knowledge of governance practices, including expertise in global corporate structures, and their deep understanding of the SOA. The Task Force will be chaired by Bob Stein, FSA, CPA, MAAA. Bob’s experience includes serving previously as Global Managing Partner of Actuarial Services at Ernst & Young as well as Board positions at Assurant, Inc., Aviva plc, and Talcott Financial Group. Bob is a past member of the SOA Board of Directors and has led key SOA volunteer projects, including as chair of the Blue Ribbon Panel on Public Pension Plan Funding and chair of a recent SOA Strategic Planning Task Force.

Governance Review Task Force

  • Chair Bob Stein, FSA, CPA, MAAA
    Retired; Former Global Managing Partner of Actuarial Services at Ernst & Young; Past Board service includes Assurant, Inc., Aviva plc, and Talcott Financial Group
  • Rich de Haan, FSA, FIA, MAAA
    Partner, PwC; North American Employer’s Council; former Board Member, The Actuarial Foundation
  • Sharon Giffen, FSA, FCIA
    Former SOA Board Member
    Retired; Past President, Canadian Institute of Actuaries; Board service includes Brookfield Annuity, Serenia Life Financial, Sagen Mortgage Insurance Company, RSA Canada, and Group Medical Services
  • Paula Hodges, FSA, MAAA
    Former SOA Board Member and Past Chair, SOA Nominations Committee, Former Member, SOA Nominations Process Task Force, Former Chair, Decision Governance Task Force
    Vice President & Actuary, Ameritas; Past President of Food Bank of Lincoln
  • Hassan B. Kamil, FSA
    Independent Non-Executive Director of AIA Public Takaful; Former CEO of Syarikat Takaful Malaysia Keluarga Berhad (Takaful Malaysia)
  • Jackie Lee, FSA, MAAA
    SOA Board Member
    Vice President & Principal, Lewis & Ellis
  • Ken Mungan, FSA, MAAA
    Chair, Milliman
  • Kelly Rabin, FSA, MAAA, CFA
    SOA Board Member
    VP, Actuary, Hannover Re; Board service includes Delta Sigma Pi and Bellevue Family YMCA
  • Terri Vaughan, ACAS
    Corporate Director, Verisk Analytics; Board service includes AIG, Wellmark Blue Cross and Blue Shield, Endurance, Principal Financial Group, Past President & CEO, National Association of Insurance Commissioners (NAIC)
  • Genghui Wu, FSA, FCIA, MAAA
    Former SOA Board Member
    Chief Business Officer, Prudential plc