Kathleen R. Wong, FSA 1980, MAAA, CERA, CFA

Vice President and Actuary
AXA Equitable Life Insurance Company
New York, NY

Brief description of the type of work you currently do:

Insurance company financial reporting and projections, profitability analysis, client relationships and servicing, with a primary focus on institutional pension products.

Primary Area of Practice:

Finance

Other Areas of Practice / Interests:

Financial Reporting / Risk Management / Investments

Professional Background:

I have been employed at AXA Equitable in the Valuation and Projections area since 1998, where I have responsibility for the institutional group pension product line, including overall product risk management and administration, as well as traditional financial reporting and analysis. I previously worked in the structured insurance ratings group at Standard & Poor's and in the institutional group pension business unit at Prudential Insurance Company. Over the course of my career, my experience has included risk analysis, process re–engineering, regulatory compliance, new product development, international start–up operations, and management of client relationships.

Volunteer Experience:

I am fortunate to have had a wide range of volunteer opportunities with the Society of Actuaries: Board of Directors: 2002–2007, Vice President for Basic Education 2005–2007.

Education and Examination Committees: 1994–present, including service in the Finance/ERM/Investment examination tracks and participation in the 2007 examination redesign. I am currently on the E&E Executive Group as the Examination Chairperson, and I serve on the Education Syllabus Committee for Finance/ERM/Investments. I am finishing my term as General Officer for the Finance/ERM examination track, a position I have held since 2001.

Knowledge Management Strategic Action Team: 2004–present, including serving as the original chair from 2004–2005. In this position, I led the task force which developed the CERA credential for approval by the Board and I have participated in initiatives on continuing professional development and academic relations.

Group Annuity Experience and Individual Annuity Experience Committees: 2002–present.

Vision Statement:

The SOA is in the process of updating its strategic plan, but many of the current initiatives will continue to be appropriate for the future. It is important that we continue to make progress on many fronts, while recognizing that finite resources require us to prioritize.

I feel certain initiatives warrant particular attention as critical to our continued success.

1. We need more recognition of the importance of advancing our intellectual base of knowledge:

   • We have had a strong research function, but it lacks focus and prioritization.
   • Cutting edge actuarial science, which often occurs in an academic setting, must be encouraged and supported, while ensuring that it is translated into practical applications for practicing FSAs.
   • We must keep our basic education syllabus up–to–date and provide continuing education programs that help FSAs integrate new knowledge and practices into their work. Finding ways to involve more experienced actuaries in our education systems will help.

2. The SOA should continue to work on broadening opportunities for actuaries, as some of our traditional areas of employment become less attractive:

   • Maintain the momentum of the image campaign, with a focus on demonstrating the broad applicability of actuarial expertise.
   • Identify emerging areas of opportunity and provide educational options that help actuaries move into new practice areas, considering both technical and business skill needs.
   • Follow up on the CERA marketing push with a sustainable plan for increased recognition of the value actuaries bring to the ERM field.