SOA Vice Presidents/Board Members Job Description
Position Title: Vice Presidents/Board Members
Responsible in partnership with the other Board members and staff for helping to shape and lead the organization and the actuarial profession through implementation of the SOA strategic plan and by performing fiduciary, strategic and policy responsibilities.
Vice Presidents—2 years (assignments to higher level committees or task forces based on previous experience)Board members—3 years
Internal Relationships—Get to know other Board members and key staff. Optimize staff expertise. Communicate questions and concerns to the appropriate volunteer and staff leaders. Encourage other actuaries to get involved in volunteering at the SOA.
External Relationships—Champion the SOA and the actuarial profession to all constituents and publics. Encourage cooperation among all North American actuarial organizations.
- Prepare & Participate
- Understand and apply the provisions of the SOA's Bylaws and other policies
- Prepare for, attend and actively participate in all Board of Directors meetings. Constructive participation includes consensus building, not dominating conversations, etc.
- Utilize the Knowledge-Based Strategic Governance model.
- Implement Board decisions in an effective and timely manner.
- Serve on committees or task forces as assigned.
- Set Direction
- Establish the vision, mission and strategies of the SOA.
- Establish, review and modify governance policies of the SOA.
- Monitor performance of the Society of Actuaries relative to established plans, goals and budgets.
- Delegate authority for organizational management.
- Articulate, safeguard, model, and promote organizational values, including the Code of Conduct.
- Ensure Resources
- Consider issues of capacity (financial and human resources), core capability and strategic position when making decisions.
- Provide Oversight
- Establish financial policies and ensure accountability.
- Ensure compliance with applicable laws and ethical standards.
- Monitor organizational performance using Balanced Scorecard Management System.
- Approve applications for membership.
- Authorize appointment of committees as necessary for the conduct of the affairs of the Society of Actuaries, including the appointment of joint committees with one or more other organizations.
- Prescribe examinations and other requirements for admission as provided in Article III, Section 2, of the Bylaws, and facilitate study for such examinations.
- Receive an annual audit of the SOA by an independent auditor.
- Approve an annual budget and operating plan for the SOA, including a schedule of member dues and fees.
- Through the Finance Committee, invest and administer the funds and establish appropriate financial controls for the investment and administration of such funds.
- Amend the By-Laws as needed.
- Review, approve, amend or rescind the actions of any committee except the Committee on Discipline.
- Personal Management
- Avoid any decisions, actions or associations that are or could appear to be conflicts of interest.
- Maintain awareness of emerging issues that could impact the profession.
- Extra Responsibilities due to periodic or unexpected organizational items, i.e. strategic planning
- Adhere to the Policy on Responsiblities and Conduct of Members of the Board of Directors
- Three Board meetings per year (meetings are 1½ days in length, plus approximately a ½ day to read meeting material):
- June (held in conjunction with the SOA spring meeting)
- October (held in conjunction with the SOA annual meeting)
- Four to five conference calls that are one hour long in the months that don't have a meeting
- Orientation Meeting: October ½ day Friday afternoon and ½ day Saturday morning prior to the SOA Board Meeting
- Leadership Meeting: November in Chicago, including a reception with staff at the SOA office
Finance 330 Policy
- Fellow of and active member of the SOA
- CPD Compliant
- Demonstrated commitment to the SOA via leadership participation on the Board, Sections, Education Executive Committee or other committees in the previous five years
Recommended Skill Sets (skills with ( ) asterisks are most important)
- People Management
- Leadership skills, including ability to respect the historical perspective, credibly assess the current environment and set and communicate an inspirational future direction that engages and motivates positive changes in the organization
- Performance management skills, including goal setting, feedback, evaluating and rewarding; an ability to get things done through others, hold people accountable, and focus the organization on projects that support the strategic plan
- Recruiting / team building skills - ability to identify and recruit talent, and organize teams with the correct balance of talents
- Training and development skills - ability to identify and correct skill gaps
- Building a culture that fosters creativity, open dialogue, and thoughtful risk taking
- Ability to work with volunteers
- Business Management
- Structuring effective organizations and processes
- Change management, including ability to recognize paradigm shifts
- Participating in Executive-level Board meetings
- Leading non-profit organizations
- Project management skills
- Decision-making skills
- Strategic planning / thinking skills
- Marketing skills
- Personal Skills
- Networking skills / organizational savvy - ability to build / leverage a network of relationships and resources
- Time management
- Organizational skills (being organized)
- Communication skills
- Presentation / oral skills
- Listening skills
- Writing skills
- Interpersonal skills
- Influence / persuasion skills
- Negotiation skills
- Conflict resolution skills, including facilitating diplomatic solutions