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Topics in the News
Strengthening Our Board
The Society of Actuaries (SOA) is committed to continually improving how we operate to be well-positioned for the future. In fall 2024, the SOA Board of Directors (Board) formed a Task Force to evaluate its Board governance, identify challenges, review leading practices, and gather member feedback. Their findings led to a set of proposed governance changes, which were brought to Fellows to vote on as a package of SOA Bylaws updates in October 2025. The SOA Bylaws voting results are now available.
View member perspectives and watch a past town hall recording to hear insights from SOA leaders.
Proposal Summary
Through the Task Force’s discovery processes, key challenges were identified and a set of actions were recommended to enhance Board effectiveness.
Challenge
Recommendation
Action
Limited representation and outside perspectives
A more diverse Board
Lack of transparency in the candidate selection process
An objective, transparent candidate evaluation process
• Skills and experience requirements clearly communicated
• Candidates identified and evaluated based on needed skills and experience
Learn More• Candidates identified and evaluated based on needed skills and experience
Voting process doesn’t match Board needs with candidate skills
A strategic alignment of skills with Board needs
• Shift from competitive elections to for/against vote on vetted candidates
• 2 distinct roles for President and Chair
Learn More• 2 distinct roles for President and Chair
Large, cumbersome Board size
A smaller, more nimble Board
• Shift from 18 to 12-person Board
• Create Member Leadership Advisory Council
Learn More• Create Member Leadership Advisory Council
Ensuring a Future-Forward Organization
Why It Matters
Our profession faces a rapidly changing environment and we must adapt and respond. While leading practices for association governance have evolved, the SOA’s governance processes haven’t materially changed in many years. Our current Board lacks global representation as well as expertise and insights from outside the profession. And our election process doesn’t align candidates’ skills and experience with the Board’s needs.
The recent proposed governance changes were designed to create a Board that reflects our growing membership, incorporates diverse viewpoints, and brings together the skills and experiences needed for the future.
How Members Benefit
Strong Board governance is critical to the SOA’s long-term growth and future success. While the proposed changes were not approved, they were designed to achieve:
- An objective, transparent process for evaluating candidates based on skills and experience
- A voting process that allows members to make informed decisions about candidates with less time and effort
- Leadership that reflects our global membership and includes valuable outside perspectives
- A Board structure that fosters in-depth discussion and rigorous debate, allowing the SOA to more rapidly address emerging opportunities and challenges
- A highly effective Board with the skills and experiences needed for the future
Inside the Process
A 10-member Task Force comprised of SOA members and current and former Board members with governance expertise has met regularly since fall 2024. They’ve assessed challenges, reviewed member feedback, researched leading practices, and developed thoughtful recommendations to strengthen the Board.
A comprehensive approach guided the review, incorporating input from members through numerous town halls, group discussions and market research. The approach was designed to ensure the process remained inclusive and insight-driven.
Watch this short video for an overview of the proposed SOA Bylaws changes.
How the Current Board Works
The SOA Board is comprised of 18 volunteer Fellows, which includes 15 general members, one President and Chair, one President-Elect and Vice Chair, and one Past President. Currently, there is one reserved seat for a member who lives and works outside of the U.S. and Canada. The Board collaborates with SOA staff leadership to develop long-term objectives and strategy in response to a rapidly evolving environment.
Next Steps
FSAs participated in an SOA Bylaws vote held October 13-24, 2025. The outcome of the vote is now available.
Hear More
From August through October 2025, the SOA presented a series of free virtual town halls led by SOA leaders to share information on the proposed governance changes and answer member questions.
Two recordings from these sessions remain available for on-demand viewing:
Strengthening our Board Town Hall: Aug.14, 2025
Strengthening our Board Town Hall (Mandarin session): Sept. 10, 2025
Member Testimonials
Explore member perspectives. Read their testimonials and watch more stories in our video gallery.
Carl Hess
FSA, CERA, FCA
As actuaries, we’re known for anticipating change and adapting with foresight. These (proposed changes) are about ensuring the SOA remains strong and ready for the future.
Gabriela Dieguez
FSA, MAAA
I believe the Board’s recommendations put the SOA in line with our peer associations and positions us to be more effective, incorporate a global perspective, and facilitate more timely decisions in a rapidly changing environment.
Patrick Samborsky
ASA, MAAA
The SOA Board of Directors was unafraid to look inward for growth, to acknowledge the great changes over the past 10, 15, or 20 years, and to realize that significant changes could be extremely beneficial to the profession.
Pete Rossi
FSA, MAAA, CERA, FCA
A refreshed Board isn’t just a checkbox activity; it’s how we stay relevant, adaptable, and truly reflective of a global actuarial community. I’m voting YES. I hope you’ll join me as we all take a collective step into the future, together.
Hans Wagner
FSA
With the rich opportunities we have and the challenges we face, the proposed changes will facilitate getting strong international leaders onto our Board by eliminating obstacles to their serving.