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.