Scott D. Haglund, FSA 1995, FLMI, MAAA
VP & Director of Actuarial Services, Life and Health
Federated Mutual Insurance Company, Owatonna, MN
Brief Description of the type of work you currently do:
I have been fortunate to work in a variety of organizations and in a variety of products. Over my 30+ years in my career, I have had the opportunity to work on and with: Mutual, stock and consulting firms; Large and small companies; Flagship and ancillary products; Individual and group products; Life, health and annuities; Director, manager, employee.
Primary Area of Practice:
Life, Health
Other Areas of Practice/Interests:
Professionalism
Why do you want to be on the Board?
There are two primary reasons I want to be on the Board. The first is serving, at a deeper level, the SOA that has sponsored my 30+ year career. I would not be the person I am today without my involvement in this organization. The second is helping to coach, mentor and direct actuaries and the SOA as it continues its strategies. I have been blessed with a long and varied career, and my insights into the career, companies and people will benefit the SOA and its stakeholders.
Ethics and Transparency
Ethics and transparency are essential to professional practice and service on the board. How have you demonstrated ethics and transparency in the past? How will your own ethics and views on transparency influence your decisions and actions as a member of the SOA board?
Ethics is part of who I am, and I believe it is critical to functioning as a human being. Following my moral code, in the context of my home or work life, drives not only what I achieve, but how I achieve it. Combined with ethics is also integrity, doing what I say I will do. In my roles as a manager, employee, father, husband, friend and mentor, I strive to not only state what my morals (ethics) are, but also do what I say (integrity). Transparency is more difficult, in the sense that to be transparent is to be vulnerable. Honestly, in that past, I have struggled with being vulnerable. However, I have developed to the point of being vulnerable and transparent in what I am doing and what I believe is important.
On the Board, I will not support actions that fall short of my ethics; I will encourage change so that the SOA is not acting in a manner I cannot endorse. I realize others may have different ethical standards, so I will listen and gain understanding of their point-of-view. In decision making, transparency will be critical in order to gain support from the SOA members.
Team Player
Collaborative working relationships are essential to the governance function of the SOA Board of Directors, especially as board members work with each other, volunteers, and staff to achieve the strategic goals and mission of SOA. Describe a situation from either your professional or volunteer experiences that demonstrated you are a team player.
One of the roles I hold at work is managing the life product development process. In this role, I am responsible for setting the overall direction of the project, and helping to address issues or timeline constraints that materialize. In a current project, there are a number of
aspects of being a team player demonstrated:
- I have the ability and desire to work with a variety of individuals and roles. This project involved actuarial, claims, underwriting, IS, compliance, accounting and marketing. Each function has its own unique needs, and my ability to work with each area, from their perspective, was critical.
- As a team player, I needed to make sure my tasks were completed on time (with integrity). During this project, a number of critical timelines had to be met, and I needed to ensure that others could rely on me to get my part done, as requested.
- As a team player, I need to hold others accountable for their work product and timeline. During this project, I reminded others (and myself) that we are reliant on each other to get this project completed. Any one person can derail the effort, and we all needed to realize our importance to the final
deliverable.
- In this project, I demonstrated my ability to listen to what was needed, without imposing my position on the project. I find value in listening to the perspectives and opinions of others, as well as stating what I believe is true. This dialog led to a project, with integrity that met the needs of the organization.
My ability to be relied on for what I say and hold others accountable to what they stated, will allow me to be an effective team player on the Board.
Intellectual Engagement
Board members need to exhibit curiosity and a desire to learn about areas that may potentially impact the SOA and the profession. How do you stay informed about what is going on nationally and internationally, and how do you apply that knowledge into your work with SOA and the profession.
Continuous learning has always been important to me, both professionally and personally. To further my learning, I rely on a number of different activities and sources. How I stay informed is:
- Industry meetings and webinars. I make a point of regularly attending industry meetings and participating in webinars. I intentionally attend sessions that have concepts new to me, so I don’t just continue to do things the way I’ve always done them.
- Magazines, newsletters, newspapers, internet, books. Through a variety of medium, I learn what is happening today, as well as what is expected to occur in the future. I don’t rely on just one source, as that particular source could either be misleading or have an opinion that is not mainstream (which, at times, is
exactly why I read articles from that source).
- Volunteering, participation in the community. Equally valuable to meetings and articles is regular engagement in the actuarial community and the other communities in which I live (town, state, country, etc.). This level of engagement gives me an opportunity to learn from the people “in the trenches”, dealing with real
life issues and not just academic or future ones.
The use of that knowledge on the Board and in my life is to make sure the right problems are being examined and forward-thinking solutions are being proposed. I don’t want to be solving a problem that no longer exists with solutions that are no longer relevant. I need to
remain engaged in the world around me to make sure I’m aware of what needs to be addressed, using the most efficient and effective solution. This also means I can’t learn what I need to on my own; I need to be involved in the actuarial community to further my
understanding of the world around me.
Stewardship
Respectful and prudent use of resources is an important function of all board members. Explain how you have demonstrated this characteristic in either your work or volunteer experiences and how it will carry over to your role on the SOA Board.
At work, I manage a personnel budget of over $1 million. In managing this budget, I need to ensure:
- Money is not wasted, and
- Money is spent if it needs to be spent.
On the Board, I see that both aspects need to be present – be a good steward of the funds that the members have entrusted to the SOA and spend the money on what impacts the profession and stakeholders. Similar to our governments, the money to be spent does not come from the organization’s
leadership, it comes from the individual members. I need to be able to look the members in the eye and honestly tell them I used their money wisely and to benefit you, not just myself.
All of us have money that could spent elsewhere; the money you entrust to the SOA through dues, meetings, webinars, etc. needs to be spent in the best manner possible. However, the money can’t just be hoarded; there are times that expenses are necessary to benefit members or
gain efficiencies that pay for themselves.
Prudent use of time is also critical, not just money. For most of us, time is more precious than money. If the SOA / Board is asking for volunteer assistance, we (I) need to make sure that time is important and necessary. I don’t want the SOA stakeholders to feel like we are wasting their valuable time in efforts
that don’t add value. On the Board, I will challenge both the use of money but also membership time. By doing what is important and in alignment with the strategies, both the time spent and money spent will be worthwhile investments.
Professional Background
Provide a brief description of your professional background and the type of work you currently do and explain how these experiences have prepared you for the Elected Board Member role.
I have been fortunate to work in a variety of organizations and in a variety of products. Over my 30+ years in my career, I have had the opportunity to work on and with:
- Mutual, stock and consulting firms
- Large and small companies
- Flagship and ancillary products
- Individual and group products
- Life, health and annuities
- Director, manager, employee
Due to that broad base of experience, I have gained great respect for and awareness of a cross-section of the actuarial community and the products we serve. Through the products and companies in which I was involved, I have learned what issues are present and need consideration. I’ve also learned what isn’t important, and
may not need my full attention.
I have been blessed with time spent with a variety of individuals, across the country and the world. Gaining an appreciation of their viewpoints has broadened my view of the issues that I / we have faced. I have realized that any problem benefits from the guidance and thoughts of another.
In terms of professional approaches to work products, I have experienced the value in having a project completed in a professional manner (as well as the pain that occurs when it isn’t). The guidance provided by the Society of Actuaries and American Academy of Actuaries is valuable as it is based on the
life experiences of the profession over time. Integrity in the work product produces something that can be supported and relied on.
On the Board, being able to consider an issue from perspectives other than my own are critical. My view is important, but so are those from others. Having a decision well documented will allow me to support that decision to others in the profession, gaining their support and trust.
Volunteer and Governance Experience
Describe how your previous volunteer, personal and governance experiences would strengthen your contributions to the SOA Board and organization.
Throughout my career, I have taken on the opportunities presented to me. I have been on boards / councils within the SOA, my community (JDRF, transitional housing) and my church (church boards, small group ministries). I take seriously the responsibility that comes with decision making and implementing the vision of the organization. The vision is not mine, but I am there to implement what is mutually agreed upon. I am responsible for supporting the vision as expressed by the organization, but making sure my ethics align with what is stated before agreeing to serve. I need to (and have done) make sure I don’t allow the efforts undertaken to stray from the strategy stated without agreement from the stakeholders.
My role is to implement and communicate the strategy to the members, which I take seriously. It is only through agreement and understanding that the profession will move forward. If someone doesn’t understand what and why something is being undertaken, I am responsible for clarifying and explaining that position. All strategies need to be communicated before they are undertaken, with the actions of the Board in alignment with those communicated strategies.
