2020 Board Member Candidate

Josée Deroy, FSA, MAAA, CFA
Savvvy Services Inc

Election Message:

I am thrilled with the opportunity we have, individually and collectively, to play an active role in implementing the SOA Strategic plan considering today’s rapidly changing environment causing a shift in priorities for society, governments and corporations. At the heart of the many goals, one that is increasingly important for us is ensuring we acquire a global perspective regarding the changing global economy.

How do we achieve this? Reflecting on the driving forces behind our profession, we are:

  • Scientific at our core; we are Math majors!
  • In the business of evaluating and measuring risks; either those we take, manage, or monitor!
  • A deep expertise specialized in addressing life certain events; ultimately preparing for Live to 100!
  • Excelling with individuals, organizations, corporations, governments in adapting and developing solutions!

What do we face? There are head winds in leading the way including challenges triggered by the impact of globalization, changing demographics, and technology. As I see it:

  • We are experts in demographics, and we have an opportunity to enhance further data collection, additional analytics, expand trends for continuous model updates.
  • We need to actively expand our appreciation for global trends of all nature, using the latest technology to identify issues and integrate existing systems and valuations.
  • We must leverage our global network understanding that while risks are the same, constraints may differ, but we can be organized to share knowledge and be agnostic to market and industry specifics.

Simultaneously, we recognize that the potential for disruption exists. I personally welcome this as it opens up possibilities to create and reinvent processes, programs, lines of business and thus, new experiences for the constituencies with whom we interact.

It is my desire to work with the SOA, the office of the President and all members in tackling the unavoidable transformation of our societies and institutions by coming together, building on our strengths, and pushing our limits for the benefit of a highly regarded profession.

Brief description of current work:

At the center of my startup is the development of a retirement platform with digital delivery that will implement a full B2B2C model.

Each building block relies on identifying the right partners, selling them on the way forward and convincing them to execute concurrently to move our business forward.

Admittingly, being first bears some risks and rewards for which, as actuaries, my partners and I can assess, model, and select assumptions to recommend the best course of action for our business.

We decided to establish ourselves in Montreal as an ideal location to start our business given its vibrant ecosystem, sizable market, and regulatory environment. Support from local agencies directed us to the right players where we were selected by a FinTech incubator for a 1-year mentoring program. Law firms, universities, venture capitalists, actuarial consulting firms, union organizations, and affinity groups along with our dedicated advisors have been responsive, helping us in refining and adapting our business plan.

Primary Area(s) of Practice (per SOA Directory):

Insurance and Technology


As a subject matter expert, I joined IBM Global Business Services as a Senior Managing Consultant to leverage existing IT platforms with the latest from IBM made available to IBM’s insurance clients around the world.

In my last insurance position at MetLife, I was the US Retail Annuities Lead Actuary reporting to the Americas Chief Actuary. In this role, I was responsible for determining and analyzing reserves & capital requirements for retail annuities under different accounting frameworks. This role entailed developing, maintaining, and enhancing tools used for valuations along with assumptions setting based on MetLife’s extensive experience data used for analytics in support of Management’s decisions. Actively engaged in monitoring the existing business from a reporting and risk management standpoint, as a team, we worked primarily with colleagues from Finance, Treasury, Asset Liability Modeling, Reinsurance, Annuity Product Development and Enterprise Risk Management.   

I also held several positions globally in banking, reinsurance, insurance, and consulting. As a Director Insurance Solutions Group at BNP Paribas and an SVP Structured Credit Products at HSBC in New York, I focused on developing tailored solutions for life insurance companies related to specific regulatory reserves & capital requirements. Prior to joining investment banking, I was the Chief Actuary & Risk Officer at Nationwide Global in Luxembourg. As a VP Reinsurance Solutions at AXA Corporate Solutions and Swiss Re based in New York, I was a pricing, marketing actuary focused on variable annuities and segregated fund guarantees issued by US and Canadian Life insurers. I started as a pension consultant for Willis Towers Watson in Toronto and then, as an internal auditor while at Groupama-GAN in Paris.

I received a bachelor’s degree in Actuarial Science from Laval University.

Additional Info:

Sociable and engaging, I am always available to meet with friends and business acquaintances, to hear about different perspectives, exchange ideas, and entertain them at home or at an outside venue. In some instances, I may be convincing enough for getting one of them to join me on a truly outdoor enjoyable urban experience by waking up early for a 5-10K run in Central Park!

Today, I see my engagement with the SOA as a chance to collaborate with all of you in making a difference for the benefit of the profession and its global affiliations.