Anna Rappaport, FSA, MAAA, EA
Our featured pioneer is a prominent woman who broke
new ground in the actuarial profession through her work on pension and
retirement issues. Let's go behind the scenes with Anna Rappaport.
What are five things every actuary needs to
do to be successful?
First, technical competency is an absolute basic and the price of entry
into the actuarial field. Without technical competency, you have nothing
to build on. Second, you must be able to understand and solve the problems
facing your customer. Your "customer" can be an employer, an employer's
clients, etc. Third, you must be able to work well with others and get
along with customers, peers, bosses and subordinates. Doing this well,
will result in the necessary recognition and visibility of those you work
with and who review your work. Fourth, it is important to choose your
work environment, whether with an employer or on your own. Finally, it
is important to recognize whether an organization has a good future or
not. If an organization you are working for is successful, you can also
be successful. However, if it fails or stagnates, you are unlikely to
succeed.
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. Others happen to be lucky by being in the right
place at the right time. I believe that saving money and working to create
options enables you to capitalize on opportunities.
What is your idea of career success?
I believe in making a difference so that the world is a better place.
On a personal level, it is important to receive recognition for doing
something that I like and think is intrinsically valuable.
My definition of success has changed over the
years. Early in my career, being promoted meant a great deal to me. Until
about age 50, I tended to measure my success by my "level" within my organization
and the amount of responsibility I had. Later in my career, my thinking
shifted and I began to think more about the underlying value of my contribution.
What is your personal brand and how does it
differ from your competitors?
My primary focus is on making a difference with the work that I do. I
was once asked if I lived inside or outside the box? My reply was that
I have chosen to define my own box. My brand or box is focused on being
big picture and future oriented.
How does your client's experience reflect
on your brand?
I think I am much more focused on the big picture than many people. I
always urge my clients to try to link whatever we are thinking about to
our external environment including demographics. I also strive to have
a positive impact on my client's success.
You've consulted with many companies, what
is the toughest idea to sell?
The toughest idea to sell, in my opinion is long-term, big picture thinking.
Many organizations won't survive unless they do acceptably well in the
short-term and their destiny is often driven by what happens in the capital
markets. Today, there are a lot of mergers and acquisitions, so people
are often too busy trying to take care of the short-term priorities and
focusing on the long-term is not a priority. This can sometimes be very
frustrating for people who are very interested in the long-term.
How does it feel to be considered an
actuarial pioneer by your peers? What are three things to remember you
by?
I am very pleased that my peers consider me an actuarial pioneer. I'd
like to be remembered for my focus on making a difference in what I do.
My work speaks to environment and demography. I am deeply committed to
post-retirement risk and needs of women. My focus is external. For instance,
I think about how I can work with those outside of the actuarial profession
rather than working exclusively with those within the profession. On a
lighter side, I enjoy unusual handmade "arty" jewelry.