Candidate Questionnaire

David M. Ruiz, FSA 2000, MAAA 1995
On Sabbatical
Brief description of current work:
Most recently I was a member of the Actuarial leadership team, responsible for Life and Annuity valuation.
Primary Area of Practice:
Life Insurance, Finance
Other Areas of Practice:
N/A
Professional Background
Provide a description of your professional background and the type of work you have performed. Explain how these experiences have prepared you as an Elected Board Member and qualify you in carrying out the strategic direction of the SOA.
Over 32 years as an actuary, I have gained extensive experience in financial actuarial work, both in the US and the UK. I have taken on increasing levels of management and leadership responsibility and was most recently the Vice President of Valuation for the Consumer Markets Division of Pacific Life. My core responsibilities included financial management and valuation of the company's variable, fixed, and indexed annuities and life insurance business.
As a leader in the finance organization, I was instrumental in driving the company's strategy. As we look at the challenges facing the industry, finance and actuarial transformation is a key strategic focus. In my previous role I was accountable for the success of a multi-year transformation project that promises to change the way we work across all actuarial functions. This initiative is representative of the industry at large, and I believe I am uniquely qualified to help the Society of Actuaries (SOA) navigate these changes.
In order to succeed in the face of significant industry change, we need to set a strong vision and bring diverse teams together to align around common goals and direction. My experiences in my professional and volunteer work leave me well-prepared to help the SOA achieve these objectives. I am passionate about developing the next generation of actuaries, and my expertise in transformation will allow me to contribute valuable insights to Board discussions on the future of the profession.
Overall, I believe my professional background in financial actuarial work, leadership experience, and passion for developing the next generation of actuaries make me uniquely qualified to serve as an elected Board Member for the SOA. I am committed to carrying out the strategic direction of the organization and helping it adapt to the changing industry landscape.
Volunteer and Governance Experience
Describe how your volunteer and governance experiences would strengthen your contributions to the SOA Board, the SOA, and strategic plan execution. List your relevant volunteer experience. Include the name of the organization, your role, and approximate dates.
Volunteer contribution to the Actuarial Profession:
- SOA Diversity Equity and Inclusion Committee, 2022-2024 (current)
- SOA/CAS Joint Council on Equity, Inclusion and Diversity, 2021-2022
- Society of Actuaries Leadership and Development Section Council, 2018-2021
- Chair 2020-2021
- Treasurer/Secretary 2018-2019
- Society of Actuaries Financial Reporting Section Council, 2015-2018 (Treasurer)
- American Academy of Actuaries Life Financial Reporting Council, 2012-current
- Institute and Faculty of Actuaries volunteer, 2011-current
Relevant Personal Volunteer experiences:
- Board Member, Transatlantic Council, BSA 2007-2014
- Scoutmaster, BSA Troop 4321, 2019-2024 (current)
- Leader, Girl Scout Troop 2898, 2022-2024 (current)
In 2021 I was honored to step into a role on the Joint Council on Equity, Inclusion and Diversity. In 2022 I transitioned into the Diversity, Equity and Inclusion committee. Serving on these committees has been a highlight of my time in SOA leadership. Our profession is demonstrably stronger when we lean into DEI. As a board member I will continue to be an ally for underrepresented groups, driving to creating an equitable and inclusive SOA.
I served as Chair of the Leadership and Development Section Council in 2021, and was a Council member for L&D and Financial Reporting councils for six years. Through Section leadership, I was involved in working toward the SOA’s strategic initiatives. The L&D council assisted with the young professional engagement initiative as well as DEI, giving me insights into how the SOA implements strategy through the power of member engagement.
I am an Eagle Scout and lifetime member of the Girl Scouts of the USA. As a board member for Transatlantic Council, BSA, I held several committee positions that gave me experience in leading a non-profit charitable organization focused on character development of its members. I was involved setting strategy, overseeing financial position, and driving program offerings for thousands of members across Europe, the Middle East and Africa.
Leadership/Managing Change
Describe a significant project that you led in the workplace or in your volunteer activities. Describe how you addressed changes that were proposed, whether changes were made, or were not made after considering all options. How did you influence alignment in the final outcome, and what were the biggest challenges you had to overcome?
Our annual business plan process starts from actuarial model runs, and through a series of post-model processes we produce all of the analytics and reporting needed to understand our projections and provide information to management. I recently led a project to streamline and automate several pieces of this process, with a goal to reduce cycle time and increase the flexibility of the reporting we could provide. The project involved simplifying some models, implementing new reporting, and changing our existing processes to use the new tools.
In any large project, changes are inevitable. We minimized the impact of changes by keeping in close communication with our stakeholders throughout the project. Changes that emerged were assessed for materiality, bringing in the opinions of the whole project team. Once we made decisions that changed the expected scope and outcomes, we brought recommended changes in front of our steering committee to ensure alignment. This allowed us to have a robust discussion and ensure the best decisions were made.
The biggest challenge in this project was changing the hearts and minds of the people in the middle of the process. It’s hard to change a business process; even more so if the idea to change comes from someone else. To jump that hurdle, we had several sessions looking at the current process and asking “what if” and “how might we” questions to get agreement on why we needed to evolve our process, and how this evolution would ultimately be good for the team members.
I believe the best way to lead a project is to be open and transparent with all stakeholders. This includes seeking and listening to a variety of opinions, then making the best decision in light of all information. As an elected board member I would always lean on discussion and consensus-building as the best way to get things done.
Diversity
What should the SOA’s goals be in the area of diversity, equity and inclusion? You can read more about current efforts by the organization at www.soa.org/programs/diversity-inclusion.
As a member of the Diversity, Equity and Inclusion Committee I have been honored to be a part of the Society’s commitment to improving the profession. The first step that the SOA can take is to continue this fantastic work. As a board member I would advocate the SOA provide some additional focus in these areas:
Make exams and study materials more accessible to underrepresented populations.
The SOA has some limited programs that work to provide exam reimbursements to underrepresented populations, which is fantastic. We need to do more. The only way we will become more diverse is to have a strong pipeline of candidates from diverse backgrounds.
Actively recruit and encourage a more diverse SOA Leadership
One small step that would create a more inclusive environment in the SOA would be to have more diversity in the leadership. From speakers at meetings to presenters on webcasts to candidates on the election ballots, we need to have more diversity in the forefront.
Deepen partnerships with Actuarial diversity organizations.
The SOA has long collaborated with leading actuarial diversity organizations and the CAS to improve the diversity, equity and inclusion of the profession. I would encourage the SOA to work more closely with these organizations on any initiatives that are designed to increase representation. We need to make sure that when we take an initiative forward it will be well-received by the target audience and supported by our partners.
International
The SOA has been growing internationally. How would your experiences help the SOA further the needs of the membership outside of North America?
I was privileged to have the opportunity to work in London for five years, from 2006-2011. This was a highlight of my career. While in the UK I was able to get an understanding of the Institute of Actuaries, the membership journey experienced by student actuaries, and the member engagement activities of the Institute. I believe these insights will help me as we continue to expand out outreach to candidates and universities around the world.
The SOA has been building a pipeline of global actuarial candidates and members. Our next step is to ensure that we can support these constituents through educational and research opportunities that speak to the members outside of North America. I would work within existing frameworks to expand our educational opportunities in global centers of actuarial talent. Through in-person meetings and locally-hosted virtual offerings we can meet the members where they’re located.
We must also differentiate ourselves from other global actuarial organizations in order to position the SOA brand as the premier actuarial society. Our leadership on global issues will help cement this brand, and I will work to encourage continued expansion of programs like the Climate Risk Certificate Program that speaks to a global audience.
Emerging
The SOA needs to continue to attract the brightest students to our actuarial profession and now there are more technical career options available. What do you recommend that the SOA do to continue to attract the right people to the actuarial profession?
Increasing diversity and inclusiveness is the key to a strong and viable Society of Actuaries. We need to seek out and welcoming new members from underrepresented communities and strengthen our partnerships with actuarial organizations across the globe. In our outreach we should continue to spotlight our societal purpose. Studies all show that young professionals want to do meaningful work that benefits society. Actuarial work leans into that sense of purpose. Our values set us apart from adjacent professions.
In order to embrace diversity, we need engagement from our entire membership. We need every actuary to seek out ways to ensure that our profession has diverse membership, that represents the entire population we’re serving. Having an open and ongoing dialog will be critical to ensure we raise awareness and identify solutions that will help us on our journey.
Beyond the traditional FSA Pathway, another key to our success lies in the targeted expansion of certificate programs that expand and enhance our expertise on issues facing the global society. The Climate Risk Certificate Program is a fantastic example of the kind of program that will set us up as global leaders. As a board member I will support identifying and developing additional programs that can strengthen our profession and the global SOA brand.
We need visionary leaders to keep the Society moving forward. A new strategic plan will carry us from 2025-2027 and beyond. This strategic plan needs to set a bold vision for the Society and the transformation of the actuarial profession. As a Board member, I will work diligently to influence the strategic direction of the SOA. It will be my mission to ensure the SOA becomes recognized as a leader in diversity and inclusiveness, while it continues to maintain and enhance its role as the premier global actuarial organization.
Personal Experience
Share a personal experience, trait, or characteristic that will help the membership to better understand you and your candidacy.
I am an Eagle Scout.
When people ask me who I am, and what motivates me, I tell them about Scouting. Growing up in Scouting taught me some very important lessons that I leverage in my career and daily life.
- Lead like you would want to be led
- Keep your word and Do Your Best
- Never compromise your values
When I became a parent I re-joined the Boy Scouts of America as a leader. I wanted to give back to the kids what I had received from all of the leaders I had as a youth. As a scout and a leader I have had the opportunity to test my limits with demanding physical and mental challenges. I’ve experienced leadership both as a leader and a follower. I’ve helped dozens of youth learn a value system that positions them to be participating citizens and leaders in their community. There is nothing more rewarding than seeing a young scout step into a challenging position and succeed with your support.
As a member of the SOA board I promise, on my honor, that I will live up to these principles as I help lead the organization into the future.