Mary J. Bahna–Nolan, FSA 1996, MAAA

Director, Actuarial and Insurance Management Solutions, PricewaterhouseCoopers LLP, Chicago, IL

Brief description of the type of work you currently do:

Mary provides advisory services to life insurance and reinsurance clients, most recently focusing on process improvement, financial effectiveness, economic capital and capital management, governance and controls, market consistent embedded value, older age mortality, corporate strategy, expense and performance management, risk management practices, and strategies and practices surrounding life settlements and IOLI/SOLI business.

Primary Area of Practice:

Life Insurance

Other Areas of Practice/Interests:

Risk management, Product Development, Reinsurance, Marketing and Distribution, Taxation

Professional Background:

Prior to joining PwC, Mary was Vice President & Chief Actuary for North American Company for Life and Health Insurance where she was responsible for product and reinsurance strategy, pricing, product management, reinsurance and capital solutions. Mary has 20 years of extensive product development, pricing, product management, risk management and reinsurance experience. Prior to joining North American in December 1997, she worked at Transamerica Reinsurance and Sun Life of Canada. Mary has a Bachelor of Science degree from the University of Michigan in Actuarial Mathematics and Economics. She is a fellow in the Society of Actuaries and a member of the American Academy of Actuaries and currently serves as a vice president on the SOA's Board of Directors.

Volunteer Experience:

• Vice President for the Society of Actuaries' Board of Directors since October 2007 and current chair of the Issues Advisory Council, responsible for strategic planning and strategic issue identification for the SOA..
• Member of the SOA Board of Directors (2004–2007). Leadership Development Committee Chair in 2006 and 2007.
• Chairperson of AAA/SOA Valuation Basic Table Team and member of Valuation Table team.
• Current member of: SOA Individual Life Experience Studies Committee; AAA's Life Practice Council and Life Capital Adequacy Subcommittee; SOA Mortality and Underwriting Survey Committee;
acted as chairperson for Preferred Underwriting Survey subcommittee; AAA Life Reserves Working Group; AAA Non–forfeiture Issues Working Group.
• Product Development Section Council Member (1999 to 2002); Chairperson (2001–2002); Vice–Chairperson (2000–2001).
• SOA Annual Meeting: Program Chairperson (2001), planning committee member (Fall, 2000).
• SOA Product Development Actuary Symposium: Program Chairperson (2002), planning committee member (2001, 2003)
• Former member of SOA Board Committee on Elections.
• Former member of SOA Life Practice Advancement Committee; act as chairperson for the Research Oversight Group.
• Previous member of various Academy working groups and SOA Task Forces since 1995.
• Published several articles for various SOA Section newsletters and frequent speaker for SOA, AHOU, LIMRA, and other industry–sponsored meetings.

Vision Statement:

I believe it is important that the profession work to expand our footprint within risk management and ensure that those individuals bearing the actuarial credentials have the training and education to compete in the global market. Our Market and Market Development Plan has been very successful, but we must make sure that our supply can meet the demand and that we are able to deliver upon our message. I am committed to continuing to foster relationships with our actuarial counterparts in other countries to ensure we are sharing ideas and research and fostering growth for the entire profession. I am also committed to continuing to develop and expand our relationships with the universities and leveraging their intellectual capital development. Our education system continues to improve; however, we need to ensure our continuing education system provides the training and medium for delivery necessary to develop leaders with the business knowledge, problem solving and communication skills to lead organizations. Lastly, we need to ensure we continue to attract the best and the brightest into our profession and find ways to shorten the travel time to achievement of the credential without sacrificing quality and rigor and without another revamping of the educational process. This may include things such as exam on demand and an increased role in academia for credentialing. Several initiatives within the existing strategic plan enable the points mentioned above. These include the CERA Marketing, the CE Redesign, and Intellectual Capital Framework.