In the Profession

The actuarial profession has continued to evolve thanks to the work of trail blazing actuaries who have created new applications for their unique skills or training, including finding new ways to solve age-old problems. The following are stories about some of these people and their work.

If you know someone who has been a leader in the profession, e-mail us at imagewatch@soa.org, tell us their story and we might feature them in an upcoming Actuaries in Action story.

Sim Segal
"We actuaries can be far more involved than we are currently in decisions impacting society, like national health care, the global financial crisis, the green energy movement or even the forecasts involved in the government’s annual budget process. If we have more actuaries thinking about the larger issues and how we can get involved, we will start to make more inroads."

Claude Lamoureux
"When I became a fellow, the president of the SOA ... gave the commencement speech to new fellows. He said something that I have repeated in front of many audiences: 'When you have to make a decision, always make the one that will let you sleep better, not the one that will let you eat better.'"

John Dewan
"I believe the actuarial profession is one of the best careers there is. The actuarial exams are a challenge, but each completed exam is an important milestone."

Carol Proffer
"I think that the application of actuarial training is now seen in many more areas. The basic concepts and processes are applicable in so many areas, all aspects of finance, investments, risk management and corporate leadership."

Mark Franzen
"Know who your customers are, know their needs and make sure you are meeting those needs. Whether you are selling software to an insurance company CEO or presenting a financial report to your boss, you need to know your customer."

Rudy Karsan
"The business world for me encompasses the ability to negotiate, to have intellectual warfare with my competition and to make a positive impact on the world. There are tremendous ways to have fun in business. If you’re not having fun along the way, something is not right with the way you’re running the show."

Larry Bader
"Look for opportunities to incorporate viewpoints from outside the profession into your actuarial education."

Fred Sievert
"Being able to understand and communicate difficult actuarial issues and the logic behind product and financial decisions to agents, employees and to outside parties was a skill that many top executives do not possess and served me extremely well." 

A. Haeworth Robertson
"I believe the actuarial profession is not only a very honorable one, but one that is essential in today's society."

Charles McClenahan
"It’s not the accomplishments I find memorable. It’s the people I have been privileged to work with over the years ."

Laura Bennett
" ... the smallest kindness in business goes an incredibly long way and it more often than not brings you benefits you could never have planned for."

Linda Springer
"One of the hallmarks of the profession is work product credibility. ... this attribute is increasingly desirable."

Steve Vernon
"When I started in the mid-1970s, the FSA credential was all you needed for guaranteed employment. Now you need more—you actually have to be a nice person, a good communicator, an effective manager and salesperson."

Ian Duncan
"The lessons of advancing in one’s career boil down to three simple rules that you could carry in your wallet: Identify who in the organization has the power (and budget) and figure out how to work for that individual or organization; Define your own value proposition carefully so that you can convince those in the organization with the power to use you; and Get profit and loss management experience as early as you can." 

		Kim Johnson “Business success is all about people. So it’s important to pick your work associates, and your company, wisely.”
		Dave Ingram “I’m very proud of the quality of the profession, but at times I’ve really felt challenged over my career—especially when it comes to the inaccurate stereotyping of actuaries. We’re so much more than number crunchers and human calculators.”
		Phil Gold “Plan your own career. Decide what you would like to do and go for it. It's the only way you're really going to be happy.”
		Shane Chalke “Business to me is like a complicated form of chess. Every day you wake up and you face a set of problems that are intricate, sophisticated and complex.”
		Dr. Phelim Boyle "Do not be afraid to challenge conventional wisdom, particularly if it comes from on high."
		Ron Gebhardtsbauer "I found that being an actuary wasn’t totally dominated by the business world (we are the academics in the business world) … we also work with others to help people and society."
		Jim Tilley "Innovate—especially when someone tells you that you can't or shouldn't."
		Anna Rappaport "Working hard is very important, but it is not enough. Successful people plan well and set up their lives to engineer a number of good options."
		Thomas S. Terry "We will take a principle or a trend and we'll attempt, from imperfect data perhaps to extrapolate it into the real world, so that individuals and businesses can meaningfully make decisions on the basis of that scant data."
		Prakash Shimpi "I never thought about it as ERM ... I think about it as normal business to which we are applying a little more analytic discipline."
		Todd Bault “Too often, I have seen actuaries do great work that goes unrewarded, simply because the actuaries are not effective at presenting their results.”
		Craig Raymond “Opportunities may fall in your lap, but they also can be created by being prepared and seeking them out. Don’t be afraid to take some chances.”
		Stephen Goss “… remember that communication is essential. We are all “selling” our ideas, and if you cannot convince others of the relevance and logic of your propositions, you will not be able to influence outcomes.”
		Francois Bourdon “The typical actuary needs to be open to opportunities, not be afraid to try new things and be proud of the knowledge he acquired throughout his career and education."

Actuaries in the News