Joseph Paesani, FSA 1988, MAAA

New Venture Marketing Actuary, Broomall, PA

Brief description of the type of work you currently do:

New venture development and consulting in the areas of actuarial services, marketing, personal risk management, coaching and leadership/executive development.

Primary Area of Practice:

Nontraditional

Other Areas of Practice/Interests:

General Management, Life Insurance, Marketing and Distribution, Product Development, Regulatory, Reinsurance, Risk Management

Professional Background:

I'm a self–employed consultant that works primarily in marketing and new venture development in the areas of personal risk management, coaching, consulting, and leadership/executive development. As an entrepreneur my experiences have largely been in nontraditional fields, but I've been able to build a successful business applying actuarial disciplines and sound business management to these endeavors. Prior to this I worked for 20+ years in the financial services industry, most recently serving as senior officer within the GE Financial Assurance companies with extensive strategic and business management experience. My corporate experience spanned traditional industries of life, pension, and health in areas such as valuation, reinsurance, and product development. Ultimately this evolved into New Venture development, marketing, and organizational development. I've had extensive leadership experience building and managing units, teams, and departments, maximizing impact with limited resources, and leveraging other resources, with a track record for strategic planning/implementation, growth and results.

Volunteer Experience:

My primary volunteer experience has come through the Actuary of the Future (AOF) initiative. I served on the original AOF task force, which led to the creation of the current AOF Section, and have since served as AOF Section Council Chair and Vice–Chair. I am currently a member of the Management & Personal Development Section Council and the section's Annual Meeting Representative. I've also served on the Personal Actuary Task Force. Other sections for which I've served are Product Development, Reinsurance, Marketing and Distribution. I've written articles and have spoken at meetings, on a range of topics including product development, marketing and market development, environmental scanning, leadership and professionalism.

Vision Statement:

With the uncertainty and unpredictability of today's global financial climate, our profession faces unprecedented challenges to realizing our vision for actuaries to be recognized as the leading professionals in the modeling and management of financial risk and contingent events. To what extent do other professions, industries, regulators, and individuals see us in that light today? While the hurdles may be high, the opportunity for the actuarial profession to fulfill its vision has never been greater than it is today! All entities face risk and uncertainty on a global level never before seen. How will they manage their risks? Who will lead their Risk Management? Actuaries can, but how will we respond to the call?

Our strategic plan is bold and proactive. The Board now has an excellent opportunity to ramp up efforts for actuaries to be the leaders in risk management, strengthen our brand, and provide actuaries with the tools and education to execute. We've made tremendous strides to date in these areas. This unique time in history provides an opportunity to leverage these further and continue to supply highly qualified experts who provide knowledge and insight to serve their clients and stakeholders. I've been a leader across a wide range of disciplines, in both traditional and nontraditional environments, as an entrepreneur and for organizations, and I know that my experience and expertise will help us achieve our vision. I ask for your vote and welcome the chance to pursue this further as part of the Board.