2024 President-Elect and Vice Chair Candidate
Sharon Giffen, FSA 1984, FCIA 1984
Semi-Retired
Brief Description of Current Work
As an independent board member, I work with my colleagues to consider and oversee the strategy, the risk-taking activities and the CEO of the companies I serve. Work includes board committees as well, with accountability for Audit and Finance, Risk and Compliance, and Governance and Human Capital.
Primary Area(s) of Practice
Risk Management
Bio
Board Directorships
Current
| Sagen MI Canada (formerly Genworth) Chair, Conduct Review Committee Member, Risk and Investment Committee Member, Special Committee (review of acquisition) |
from 2015 |
| Brookfield Annuity Company Chair / Member, Risk Committee Member, Governance Committee Member, Audit Committee |
from 2016 |
| Group Medical Services (GMS) Chair, Risk & Compliance Committee Member, Governance and Human Capital Committee Member, Ad-hoc CEO Search Committee |
from 2017 |
| Serenia Life Financial Chair, Risk and Compliance Committee Member, Audit and Finance Committee |
from 2023 |
Previous
| Society of Actuaries Member/Chair, Governance and Policy Committee Member/Chair, Audit and Risk Committee Chair, Strategic Planning Task Force Member, Leadership Team |
2019 – 2022 |
| Opera Atelier Chair of the Board Chair, Audit and Finance Member, Executive Director Search Committee |
2009 – 2022 |
| RSA Canada Member, Pension and Investments Committee Member, Audit and Risk Committee |
2019 – 2021 |
| Canadian Institute of Actuaries President Chair, Governance Committee Chair, Risk Committee |
2012 – 2015; 2016 – 2019 2017 - 2018 |
Volunteer Leadership
| Board of Directors, Canadian Fraternal Association | 2011 – 2013 |
| SOA - Smaller Insurance Companies Section Council Chair |
2009 – 2011 2011 |
| Actuaries Section of American Fraternal Alliance Chair |
2004 – 2007 2007 |
| Actuaries Club of Toronto President |
2003 – 2005 2005 |
Other Volunteer Activities and Awards
| Canadian Institute of Actuaries – Gold Award for Volunteer Service | 2019 |
| National Fraternal Congress of America – Jacobson-Rugland Award – Outstanding Fraternal Actuary | 2010 |
| Society of Actuaries – Essay Winner – Vision for Life Insurance 2020 | 2009 |
| Society of Actuaries – Education and Examination Committees (various) | 1985 – 2005 |
| Society of Actuaries, Canadian Institute of Actuaries – frequent speaker at meetings and conferences | |
| Society of Actuaries – Contributor of articles for publications | |
| Speaker / Educator: LIMRA/LOMA Ontario Sales Congress Canadian Association of Financial Planners Canadian Reinsurance Conference Life Insurance Institute of Canada |
|
| Foresters Financial – Community Spirit Award Participant: playground builds with KaBoom, home building for Habitat for Humanity; Radiothon for Sick Kids Hospital; Swimathon for Arthritis; OneWalk to Conquer Cancer; donation drives for charity |
2006 |
Career Summary
| THE INDEPENDENT ORDER OF FORESTERS (a multi-national fraternal benefit society) SVP, Chief Risk Officer & Chief Compliance Officer (2014 – 2016) CEO, Foresters Life Insurance Company & President, Foresters Canada (2012 – 2014) SVP, Chief Financial Officer (2009 – 2012) SVP, Chief Actuary (2006 – 2009) VP, Product Management; VP, Actuarial (2000 – 2001; 2001 – 2006) |
2000 – 2016 |
| ERNST & YOUNG CORPORATE FINANCE INC. VP |
1998 – 2000 |
| MERCANTILE & GENERAL LIFE REINSURANCE COMPANY Actuarial VP (bought by) Swiss Re Life and Health Reinsurance Company, VP, Operations |
1995 – 1998 |
| NATIONAL LIFE INSURANCE COMPANY OF CANADA Actuary, Individual Insurance |
1991 – 1995 |
| MANULIFE FINANCIALA AVP, US Interest Sensitive Products |
1988 – 1991 |
| MARITIME LIFE INSURANCE COMPANY | 1984 – 1988 |
| LAURIER LIFE INSURANCE COMPANY | 1983 – 1984 |
| NORTH AMERICAN LIFE INSURANCE COMPANY | 1981 – 1983 |
Education & Professional Designations
| Director, Institute of Corporate Directors (ICD.D) | 2014 |
| Member, American Academy of Actuaries (MAAA) | 2001 – 2012 |
| Fellow, Society of Actuaries (FSA) | 1984 |
| Fellow, Canadian Institute of Actuaries (FCIA) | 1984 |
| B. Math, Honours Co-op Actuarial Science, University of Waterloo | 1981 |
Additional Info
I want to emphasize a point regarding inclusion. It is a cornerstone of my values that diverse voices need to be heard to make great decisions. I will bring some diverse perspectives to the SOA leadership:
- I am Canadian, with significant US experience and some UK experience
- I am female and, if elected, the SOA would have two women Presidents in a row(!)
- I have primarily worked for small to mid-sized insurers – my recent jobs have given me a broad view of the business, with accountability across several disciplines
- I have used my experience to work across many lines of business as a board director – in life insurance, annuity, general insurance, pension risk transfer, health and travel insurance and mortgage insurance businesses
These experiences have taught me that there is always something new to learn. I am fiercely proud that my actuarial background has given me these opportunities, and I would be thrilled to pay it forward in service to the profession.