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Leadership

Elections

2007 SOA Board of Directors Election Results

After several weeks of voting, the Society of Actuaries (SOA) today announced that Cecil D. Bykerk was elected President of the Society for the 2008–2009 term. Bykerk will serve as President–Elect during the association's 2007–2008 year and will begin his presidential duties at the SOA's annual meeting to be held in October 2008 in Orlando, Florida.

Bykerk currently serves as President of CDBykerk Consulting where he provides actuarial consulting to high risk pools. He has been an FSA since 1973 and also holds the MAAA, FCA, RHU and FLMI designations.

As the SOA's 60th president, Bykerk intends to ensure a superior education system, maintain the SOA as a worldwide leader in the actuarial profession, and grow and enhance the profession's image. He will work to continue to promote the new Chartered Enterprise Risk Analyst (CERA) credential, maximize the cooperative efforts between the U.S. actuarial organizations and use his diverse skills, experience and knowledge to promote the SOA and other actuarial organizations in North America, especially the United States.

"After committing my career to one of life–long volunteerism while serving as a senior officer of a major insurance company, serving as President of the Society of Actuaries will allow me to apply those skills to enhance the actuarial profession," said Bykerk. "I will commit the necessary time and energy to help the SOA reach its goals and objectives."

As part of its commitment to transparency in operations, the release of vote totals for the President–Elect position is being shared for the first time this year. SOA annual elections utilize a preferential voting system–meaning that voters cast their ballot for their first and second choice. After all first–choice votes are counted, the candidate in third place is eliminated. The second–choice votes of the eliminated candidate's ballots are redistributed between the remaining two candidates. The winner is the individual with the most first–choice votes plus the distributed second–choice votes. "Unexercised ballots" are ballots where voters did not vote for either a first and/or second choice.

Bykerk won the election by a final margin of 122 votes. Vote totals for the three President–Elect candidates in both rounds of the preferential system are provided below.

 

First Preferential Vote: 2008–2009 SOA President–Elect

 

Votes Percent  
Dale H. Yamamoto, FSA, MAAA, EA, FCA 1271 34.2%
Cecil D. Bykerk, FSA, MAAA, FCA, RHU, FLMI 1266 34.1%
Bradley M. Smith, FSA, MAAA 1174 31.6%
   
Total Valid Ballots 3711  
Unexercised Ballot(s) 143  
Total Ballots 3854  

 

Second Preferential Vote: 2008–2009 SOA President–Elect

 

Votes Percent  
Cecil D. Bykerk, FSA, MAAA, FCA, RHU, FLMI 1861 51.7%
Dale H. Yamamoto, FSA, MAAA, EA, FCA 1739 48.3%
Bradley M. Smith, FSA, MAAA 0 0.0%
   
Total Valid Ballots 3600  
Unexercised Ballot(s) 254  
Total Ballots 3854  

Besides the selection of a new President–Elect, SOA Fellows also chose three new Vice Presidents, six new Board members, and considered the replacement of the outdated SOA Constitution and bylaws with a new governing document. Additional communication will be distributed later announcing the new choice of Section Council members.

  • Mary J. Bahna–Nolan, FSA, MAAA
  • Mary R. Hardy, FSA, FIA, PhD
  • Donald J. Segal, FSA, MAAA, FCA, EA
  •  
  • Jeffrey G. Allen, FSA, MAAA, FCA
  • Anne M. Button, FSA, MAAA, EA
  • William J. Falk, FSA, MAAA, FCA, EA
  • Christopher J. Fievoli, FSA, FCIA
  • Philip Gold, FSA, MAAA, FIA
  • Thomas S. Terry, FSA, MAAA, FCA
  •  
  • Fellows also approved the adoption of new bylaws for the SOA. The new governing bylaws align with current and best practices in not–for–profit association management and promote and institutionalize effective governance. The new bylaws will become effective upon the certification of the vote.
  •  
  • The new bylaws vote required a 25% participation rate from SOA Fellows with a 67% approval from those voters.
  •  
  • 3,444 Fellows voted in the bylaws proxy out of 11,606 eligible voters. There were 3,200 proxy votes cast in favor of the bylaws (92.9%) and 244 proxy votes opposed to the bylaws (7.1%).

 

 

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