• 2 or more members outside U.S./Canada
• Up to 2 ASAs who have been members for 5 years or more
• Up to 2 non-actuaries
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- About SOA
- Future Actuaries
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Education & Exams
- Professional Development
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Research Institute
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Aging & Retirement Artificial Intelligence Catastrophe and Climate COVID-19 Disability Diversity Equity & Inclusion Finance & Investment General Insurance Health Care Cost Trends Innovation & Technology International Life & Annuities Long-Term Care Mortality & Longevity Predictive Analytics & Modeling Risk Management U.S. Population Valuation/Illustrations
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SectionsAbout SOA Sections Actuary of the Future Education & Research Entrepreneurial & Innovation Financial Reporting Health International Investment Joint Risk Management Leadership & Development Long Term Care Insurance Marketing & Distribution Modeling Predictive Analytics & Futurism Product Development Reinsurance Retirement Smaller Insurance Company Social Insurance & Public Finance Taxation Technology
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About SOA
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Topics in the News
Representation
Challenge
Recommendation
Action
Limited representation and outside perspectives
A more diverse Board
Challenge
The current Board has limited representation outside the U.S. and Canada and doesn’t reflect our growing global membership. Associates who have been members of the SOA for five years or more make up 30% of SOA membership and are not eligible to serve on the Board. The current Board is composed solely of Fellows, limiting valuable insights and perspectives from outside the profession.
Recommendation
Broaden the Board’s composition to ensure it has a diverse range of skills, experiences and perspectives that will help the SOA meet future challenges and opportunities.
Action
Proposed changes include having two or more Board seats for members outside the U.S. and Canada, allowing up to two ASAs who have been members for five years or more to serve on the Board, and including up to two non-actuaries to provide outside perspectives.
ASAs who have been members for 5 years or more make up 30% of SOA membership and can vote in Board elections. Today they are not eligible to vote on Bylaw changes or serve on the Board. These Associates bring vital insights from across the profession, particularly from roles and sectors where the ASA is the highest credential needed or pursued for long-term career success. Including ASAs who have been members for 5 years or more on the Board will better represent the diverse needs and perspectives of this large and growing membership segment, fostering a more inclusive and well-rounded governance structure.
The current SOA Board is composed solely of Fellows, limiting valuable insights from outside the actuarial profession. Leaders from various industries can provide fresh perspectives on challenges in business strategy, innovation, education, technology, and global growth. Additionally, including outside perspectives on Boards is a leading practice of association governance. This approach will diversify viewpoints, enrich Board discussions, and enable better decision-making for the future of the profession.
Non-actuary candidates will be evaluated based on the skills and experience needs of the Board. These will include Board and governance experience, strategic planning, risk management, global experience, corporate leadership, and financial oversight. We will also consider deep expertise in AI, technology, higher education, or other emerging areas. The goal is to find complementary skills among all Board members that come together to provide dynamic leadership to the SOA.
The current governance structure does not guarantee global representation, unless a seat is reserved for a member outside the U.S. or Canada. The updated Board structure ensures two or more members serve from outside the U.S. and Canada. The new Board Recruiting and Selection Committee will proactively recruit and select candidates to the Board whose skills and experiences align with the Board’s needs.
In addition, the new Board regional liaison role will designate a Board representative to build consistent, strong relationships in key growth markets.
The Board Recruiting and Selection Committee, together with the Board, will identify the skills and experiences needed each year for the Board, ensuring diverse representation across practice areas to reflect our membership. In addition, the Member Advisory Leadership Council will have representation from the Communities, which have many practice-area focused volunteers.
A new Member Leadership Advisory Council is being created, composed of current SOA committee and Community chairs. This group will meet to ensure the Board hears a broad range of member voices and receives input and feedback more transparently.