Ronald L. Poon–Affat, FSA 2002, FIA, MAAA, CFA

Director of Life & Health, Munich Re of Brazil, Sao Paulo, Brazil

Brief description of the type of work you currently do:

Enabling risk professionals with diverse backgrounds and profiles to work effectively together in relation to strategy implementation with the objective of delivering profitable growth. Creating and implementing new and innovative risk management strategies through focused customer value propositions that differentiate customers.

Primary Area of Practice:

Life insurance

Other Areas of Practice/Interests:

Reinsurance, health, pensions, running, world politics

Professional Background:

I graduated from the City University, London, UK with first class honors in Actuarial Science. My 23 years of experience include 8 years with leading reinsurers, 6 years with UK actuarial consultants, 5 years as Chief Actuary with Caribbean insurance companies and 4 years as CFO of a US Life company (JV) based in Brazil. I have had the opportunity to live and work in Argentina, Brazil, Mexico, Puerto Rico, Trinidad & Tobago and the UK. Career highlights include:

• Brazil: present. The Reinsurance market was closed in 1939 and was re–opened in April 2008. I am leading a team that is seeking to quickly modernize reinsurance risk management business practice and create a world–class life & health reinsurer within Latin America's largest insurance market
• Brazil: 2004. Worked in the role of CFO for the JV of a major US Life operation. Received the opportunity to leverage my risk/actuarial background to a wider financial arena.
• Mexico: 2002. I gained the responsibility for Latin American region for a major reinsurer. Gained an in depth understanding of many different cultures and business practices operating within a diverse range of developing economies.
• Argentina: 2001. During the economic meltdown, it became impossible to project even the near future. I developed innovative reinsurance financial solutions that would both be attractive to in–force cedants and allow our company to unwind long term reinsurance liabilities.
• Trinidad & Tobago: 1993. I was appointed as the Judicial Manager of an insolvent life insurance company with the objective to restructure and revert the fortunes. I completed the financial re–structuring of the deficit portfolio and successfully negotiated the transfer of the life portfolio to an on–going life company.
• Linked In profile: Linkedin.com/in/ronaldpoonaffat

Volunteer Experience:

• Serving on the Editorial Board of 'The Actuary' for the last four years, I am a member of a dynamic group responsible for selecting and delivering content addressing the most pressing issues of the profession within the deadlines set by our Associate Editor.
• Two 3 year terms on the International Section Council have provided invaluable insight into the operations of the SOA. These experiences have taught me how best to motivate, influence and execute projects within a volunteer team where challenges and objectives can be different from the corporate world.
• Upon arriving in Brazil in 1997, I was asked to serve as the SOA Ambassador. My objective was to increase awareness of the SOA educational program. It is satisfying to know that the SOA now offers regular exams in Brazil.
• I have presented at various Actuarial Conferences: Brazilian Actuarial Conferences (2005, 2003, 2001), SOA meetings (Boston annual meeting 2002, Chicago 2000 annual meeting, Seattle spring meeting 1999) and the Caribbean Annual Actuarial Conferences (1996, 1995, 1993).
• I endeavor to contribute to the profile and development of actuarial science in Brazil and have developed several Continuous Professional Development programs for the Brazilian actuarial association.
• During my time in the UK (83 to 92), I was an active member of the British Conservative Party and represented the party in the 1991 local Council Elections.

Vision Statement:

One of the major challenges I see is maintaining & leveraging our status of ethics, technical prestige and relevance within a global context; this applies to international employers, regulators and aspiring–actuaries. US actuaries are respected around the world and the SOA is the first choice of aspiring actuarial trainees seeking an international qualification. We have a unique opportunity to ensure that actuaries remain relevant and fully engaged by sharing the SOA's rigorous training and testing with international actuarial partners. I would challenge the Board to establish a realistic but ambitious set of short term goals to initiate the process of the true–internationalization of the SOA. I will work with the SOA Board to consider taking the bold step of initiating a process of establishing meaningful partnerships between the major actuarial professions. As a first step, a small group of countries could be selected i.e. group which shares a common link (e.g. language). This could gradually be extended to include a wider membership. Short term objectives could include hosting joint annual conferences, publication of joint actuarial journals and the sponsorship of visiting US Actuarial Professors to overseas Universities. A medium term objective could be the development of a special 'International ASA' qualification to attract foreign actuaries to the SOA The completion of specially developed 'international ASA' exams that focus on general concepts rather than the detail of US practices could introduce 'locally qualified actuaries' to SOA membership. Long term objectives would take shape depending on the success of the short/medium term objectives.