How Did I Get Here? An Interview with Sara Teppema, Chief Actuary of Wildflower Health
By Ying Zhao
The Stepping Stone, November 2022
Sara Teppema, FSA, MAAA, FCA, is chief actuary for Wildflower Health, a value-based women’s health care management and digital health company. She is a former board member of the Society of Actuaries (SOA), and is a member of the American Academy of Actuaries’ (AAA) Health Equity Committee.
Q: Was there an educator who influenced you during your school years?
A: I think most of us actuaries can point to one or more great math teachers in junior high or high school. I had many of those, especially my high school calculus teacher who encouraged us to work in teams to do our homework, and created a supportive and team spirit while we were in class, working problems on the chalkboard. I carried that model through into college and also into my career. One of my favorite things is getting a small group of smart people together with a problem and a whiteboard (no more chalkboards!) and working through a creative solution.
Q: What was your first full-time job out of school?
A: I participated in actuarial campus interviews my senior year, and in those conversations, got really interested in health care. Mercer in Chicago had openings in their growing health benefits practice, and that’s where I spent the first few years of my career.
Q: What led you to choose the actuarial profession?
A: I was actually a music major my first year of college, but realized that even mega-talents struggle to make a living in music, and I was decidedly NOT a mega-talented pianist. I had heard of the actuarial profession through my friend Kathy (who is still one of my closest friends and also owns her own actuarial firm) and I spent the summer after my first year taking calculus and piano lessons and sorting it all out. I ended up in the actuarial program because at that time I loved the idea of being able to get an interesting (and well-paying) job right out of undergrad. A music career would have been a massive hustle for me (because I just didn’t have “it”) and I worried that I would come to hate music, something that is a really important part of who I am. Now I have a career that I love, and I can make music as a joy and hobby.
Q: What occasions helped shape your career trajectory?
A: I’ve been fortunate to work with a lot of great people over the years, with interesting roles. I also have had a level of privilege to be able to be flexible as the needs of my family required. I was able to work part time during some phases, take a step back for less demanding work, but also ramp up when I was ready and had the capacity. Since I’ve been at this for more than 30 years (and my kids are now in their 20s), I don’t take this flexibility for granted.
I’ve observed that the workplace has gotten more flexible in recent years, especially for people raising young kids, and I am so thrilled to see that. But it was less common in past years, and sometimes hard to convince my leaders that I was just as dedicated when I was a part-timer. I am grateful that most of my bosses over the years were willing to let me have flexibility.
After many years in a demanding consulting role, and some fairly challenging times for my family, I needed to switch gears and I went to work for the SOA as a staff fellow. I loved that job, and it showed me two really important things:
- Actuarial volunteering not only is a great way to give back to a profession that has provided a great livelihood, but also allows us to flex our leadership muscles and use skills that we might not use as much in our day jobs. I got to see many SOA volunteers blossom into great leaders in my work with section councils, research committees and the board of directors—it was really wonderful to witness.
- My time at the SOA provided a foundation for a fantastic network of actuaries and other professionals, and I still say today that my network is probably my biggest asset. I generally don’t know very much, but I almost always know who to call and ask when I can’t answer a question.
My boldest career move was starting my own independent consulting firm in 2019. I spent nights and weekends in the months beforehand planning, laying ground work and doing all the logistical stuff needed. But frankly the hardest thing was building up my own confidence to believe in myself enough to sell myself.
Q: What are your proudest career accomplishments?
A: Starting my own firm was a dream that I was able to realize—and I was successful! It led me to work with other small consulting firms (like SBActuaries) and then to my current employer, Wildflower Health.
I’m also really proud of the work I did on the SOA board, especially around Diversity, Equity, and Inclusion (DEI). I was the board leader for our DEI strategy in 2020 during that particularly difficult period of racial unrest in the U.S. Challenging times tend to also create opportunities, and the events of 2020 opened up doors for actuarial organizations (and all organizations for that matter) to have conversations we might not have otherwise had.
Q: What was one of your biggest challenges and how did you overcome it?
A: For me, a really significant challenge has always been having the confidence to play the expert when I don’t feel like an expert. As I have advanced in my career, it has become more and more important for me to bring an executive presence that can sometimes feel uncomfortable— Impostor Syndrome.[1] At the same time, my age and experience work to my advantage, especially when I need to convince myself that I’m an expert! I think this is a common issue for many women and also many introverts and it’s something that I have to work on every day, even after 32 years as an actuary.
Q: How did you prepare yourself for your current leadership role?
A: I am currently the chief actuary of Wildflower Health, a value-based care and digital health startup company in the women’s health space. I had been a consultant to Wildflower for about a year, and when the CEO asked me to join full time, I saw an opportunity to merge my passion for health equity with my skillset in value-based health care, working with an amazing team of people in a fast-paced and dynamic environment. It’s pretty much my dream job.
Although mine is a very nontraditional chief actuary role, like other chief actuaries I wear many hats and constantly change gears and jump from one priority to the next. My many years as a consultant have made the ability to jump around nearly second nature to me. However, a skill that I have had to build (and that I am always working to continuously build) is quick decision-making. Consulting tends to require the skill of presenting solid options and recommendations, but typically the client is the ultimate decision maker. In my current role, my colleagues look to me to be the authority in my domain so I have had to shift my consulting mindset to adapt.
Q: What do you wish you could have done in your career but didn’t?
A: I found my passion for health equity and public health relatively late in my career. Had I figured that out sooner, I might have followed a different path.
Q: What volunteer initiatives have you taken on during your career, and why those?
A: I’ve participated in many actuarial committees over the years, for the SOA, AAA, and International Academy of Actuaries (IAA.) I chaired the SOA’s Research Executive Committee and Public Health Task Force, which led me to election to the SOA board. As a board member, I led DEI initiatives and also was a member of the Leadership Team and Finance Committee. I am currently a member of the AAA’s Health Equity Committee, the IAA health forum and the IAA Communications Subcommittee. For volunteering, I have tended to follow my interests in public health, health equity, research and writing, but ultimately for me it’s about applying whatever skills I can to solve problems.
In addition to many actuarial committees and initiatives, when my kids were young, I did as much volunteering as I could with their sports and arts organizations. I’ve also been very active with my church, on committees, for social justice issues and as the registrar of a summer camp. One of my goals in the next couple of years is to serve on the board of a nonprofit health care organization.
Q: What career/life lessons can you share?
A: One lesson I’ve learned is that you should always take on a new role to run toward an opportunity, and never run away from a bad situation. Granted, some bad situations are so bad you need to leave. But in general, run toward, not away.
Another thing I did a few years ago was to develop a personal mission statement. It’s a one-page document that I try to keep nearby in my office to remind me of my values, and my skills and tools that can help me stay true to them. I kind of made up my own format, but I was inspired to do this by the book Essentialism by Greg McKeown.[2] I highly recommend that book to anyone who feels stuck or too busy to do what is important to them.
Q: What qualities do you look for when hiring a new team member?
A: I tend to have the best experience with people who are intellectually curious and love to solve problems as much as (or more than!) I do. I also look for what I call the GSD factor (the get “stuff” done factor)—the quality where someone just does what is needed, asks appropriate questions, generally doesn’t let their ego get in the way and doesn’t overthink things.
As a result of a lot of work in DEI, I also try to be very conscious that I am not hiring someone who is just like me, or who would be a “good fit.” Teams need diverse perspectives to thrive, which means actively seeking out different ways of thinking, different backgrounds, different cultures, different ways of experiencing the world, etc.
Q: What advice would you give to people who are starting their actuarial careers?
A: In addition to studying for exams, study up on the specialty area that you work in. Never be embarrassed to ask questions. Start building an authentic network from day one—you never know who you can help in the future, or who might be helpful to you.
Q: How do you like to spend your leisure time?
A: I love hanging out with my three daughters and husband, the rest of my extended family and my two kitties. I love singing in choirs and playing the piano, and listening to my family make music. For exercise I hike and practice yoga. I’m addicted to online Scrabble and The NYT crossword puzzle.
Q: What recent or classic TV show/movie/book would you recommend?
A: “Ted Lasso.” So many life lessons. I can’t wait for the next season!
Q: What is a little-known fact about you?
A: I know how to call contradances and square dances, although it’s been a few years (and the pandemic didn’t help with dances).
Statements of fact and opinions expressed herein are those of the individual authors and are not necessarily those of the Society of Actuaries, the editors, or the respective authors’ employers.
Ying Zhao, FSA, MAAA, is a member of the Board of Directors for the Society of Actuaries and a board member for Abacus Actuaries. She can be contacted at ying.zhao.act@gmail.com. LinkedIn: https://www.linkedin.com/in/ying-zhao-97991114/