2023 President-Elect and Vice Chair Candidate
Amanda Hug, FSA 2013, MAAA 2013
Director
Willis Towers Watson (WTW)
New York, NY
Introduction
Hello! I am honored (and ecstatic!) to be an endorsed candidate for SOA President-Elect and Vice Chair.
CLICK HERE to watch my 2-minute video to learn more!!
If I earn the privilege to lead, I will aim to accelerate the pace of progress towards our goals. As one of the authors of the current strategic plan, I am in full support of the direction of the SOA, yet I believe that we can act with more boldness and urgency to ensure our profession continues to thrive well into the future!
My three key priorities as SOA President-Elect and Vice Chair to best support the strategic vision for the SOA will be to:
- Champion the Evolution of the Profession: The SOA has a rich history of empowering members to drive solutions to life’s financial risks through robust education and research offerings. We have successfully evolved over time to meet the changing needs of our stakeholders, and today’s landscape necessitates continued evolution. The SOA’s current strategic plan was developed in response to the major changes impacting our work as actuaries, from new technologies and shifting demographics, to the globalization of business and the need for a more diverse, equitable and inclusive profession. In this time of rapid change, all professions, ours included, must evolve to stay relevant as highly sought-after professionals. We must adapt quickly and courageously. Considering our four strategic pillars, I call for bolder action in the following areas:
- Modernizing our education pathway to reflect the changing nature of credentialing and skill development and the needs of international members. As Chair of the Task Force for the evolution of the FSA pathway, I have and will continue to champion the need to add flexibility to the pathway. This will better serve our international members who work across practice areas and our North American members who aspire to forge their own unique career paths. #EmphasizeEducation #AccelerateInternational
- Enhancing a sense of community among candidates and members in part by developing an SOA-sponsored virtual community platform for connection and conversation. I believe we must meet people where they are, and for a large demographic of our membership, that is online! A virtual platform will give our members access to each other and subject matter expertise worldwide. #CultivateCommunity #AccelerateInternational
- Articulating our value proposition to potential candidates. One of the challenges facing the SOA is a decline in first-time exam takers. We must respond by better articulating a compelling value proposition for young people. The core work actuaries do – managing risks related to insurance products - benefits the social good by offering consumers financial security. This is a narrative we should promote in our marketing to attract those who aspire to make a difference in the world. #SpotlightPurpose
- Modernizing our education pathway to reflect the changing nature of credentialing and skill development and the needs of international members. As Chair of the Task Force for the evolution of the FSA pathway, I have and will continue to champion the need to add flexibility to the pathway. This will better serve our international members who work across practice areas and our North American members who aspire to forge their own unique career paths. #EmphasizeEducation #AccelerateInternational
- Engage Young Professionals, the Future Leaders of the Profession: Over half of SOA members are millennials, and with a growing base of Gen Z members, that makes young professionals the largest generational segment of the organization. Yet representation from this demographic among SOA leaders and volunteers is not proportionate to their membership, and past SOA surveys have showed that millennials have the weakest engagement with the organization. As a millennial myself, I will bring a unique yet representative perspective to the role of President-Elect. Along with the other 17,000+ millennial members of the SOA, I have a personal vested interest in the ability of our profession to adapt to today’s evolving world and flourish far into the future – our careers depend on it! It is my hope to lead with this urgency and ensure that the profession’s future leaders are considered in all SOA decisions. Engaging young professionals serves to enrich the profession by diversifying our perspective and introducing new energy and fresh ideas into the mix.
- Lead Inclusively, Effectively, and with Enthusiasm: If elected, I will have the pleasure of serving two important roles: the public-facing role of President and the board-facing role of Chair. Outside the boardroom, I am excited about the direction of our organization. I will bring that enthusiasm with me as I serve as an ambassador of the SOA to candidates, members, and other actuarial organizations. Inside the boardroom, I have personally seen the positive impact an inclusive and effective leader can have on forward momentum for the board, and in turn, the SOA. I will aim to create a positive and inclusive space that values all diverse voices at the table, all while keeping us focused on our strategic direction.
Again, I am thrilled about this opportunity to lead and collaborate with such a talented and diverse board. I would be honored to help the Society to boldly achieve its strategic vision amidst a rapidly changing landscape, and by doing so, position itself for success far into the future!
Brief Description of Current Work
At WTW I serve my clients in the transformation, analytics, and litigation spaces. Previously I worked at MassMutual as Chief of Staff to the CFO, where I oversaw strategic planning and execution of goals for the 350-person Finance division. I’ve held valuation and pricing roles actuarial roles across life, annuity, retirement, supplemental health, and worksite products. I am an Elected Board Member for the SOA and past President of the Actuaries’ Club of Hartford & Springfield (400+ members).
Primary Area(s) of Practice
Life, Finance
Bio
I am an actuary who also happens to love adventure!
In the business world, adventure means pushing the bounds on what actuaries can do. I've spent over a decade in the financial services industry, where I've held classic actuarial roles in pricing and valuation as well as less typical roles such as Chief of Staff to the CFO. My experience at both a carrier and a consulting firm spans life, annuity, retirement, supplemental health, and worksite. I am presently a Director at Willis Towers Watson (WTW), where I specialize in transformation, analytics, and litigation support. I’ve experienced firsthand how flexible the actuarial skill set truly is and how well-positioned actuaries are to be leaders in our organizations to drive solutions to life’s financial risks.
In my personal life, I find my adventures through travel! I’ve been to every continent except Antarctica (it’s on the list!), where I’ve been lucky enough to swim on the edge of Victoria Falls, cross paths with the big five in South Africa, and hike the W trek in Patagonia. I’m also a committed Christian, so I’m active in my local church.
Throughout my career, I’ve enjoyed giving back to the profession through volunteer leadership. Presently, I am honored to represent the members of the SOA as an elected board member. Below are some of the ways I’ve served the profession over the years.
- Elected Board Member, SOA (2020 – Present)
- Chair, Governance and Policy Committee (2022 – Present)
- Chair, Task Force for Evolving the FSA Pathway (2022 – 2023)
- Member, Strategic Plan Task Force (2020 – 2021)
- Board Liaison
- Diversity, Equity & Inclusion Committee (2022 – 2023)
- Research Executive Committee (2021 – 2022)
- Sections/Communities (2021 – 2022)
- Young Professional Advisory Committee (2020 – 2021)
- Professional Development Committee (2020 – 2021)
- Chair, SOA Community Engagement Strategy Working Group (2020)
- Vice-Chair, SOA Leadership & Development Section (2019 – 2020)
- President, Actuaries’ Club of Boston (150+ members) (2018 – 2020)
- President, Actuaries’ Club of Hartford & Springfield (400+ members) (2016 – 2018)
- Presenter/Author, SOA, Outstanding Session Award Winner (2014 – Present)
- Board Member, University of Hartford Industry Advisory Board (2014 – 2016)
- Board Member, Lakeside Christian Camp (2019 – 2020)
- Finance Committee, Valley Community Church (2,000+ members) (2014 – 2016)
I also hold an MBA from the University of Chicago Booth School of Business, where I graduated first in my class of 216 students. I found the program to be a great complement to my actuarial credential, giving me exposure to a truly international cohort of students from a myriad of professions, who taught me new ways of solving problems.
Additional Info:
The future of the actuarial profession is bright, and I would be so honored to have your vote for SOA President-Elect! It would be a privilege and a delight to serve you and the profession.
Voting runs from September 6th - 27th.
I love connecting with my actuarial colleagues across the globe, so please don’t hesitate to connect on LinkedIn or reach out at Amanda.Hug@wtwco.com.