Board Member Candidate Questionnaire

Victor Chun Chiu Chen, FSA, FCIA, CERA*

PERSONAL EXPERIENCE: Share a personal experience, trait, or characteristic that will help the membership to better understand you and your candidacy.

My mentors and friends told me I should talk about my "superpower," but I struggled. I’m an average person, trying to do the right things, having an impact, and embracing my responsibilities. What I didn’t realize is that I have grown to be an “atypical actuary”, not just good with numbers, but excel in interpersonal dynamics and cross disciplinary managerial insights.

Perhaps my superpower is building trust. Not smart or cunning enough to be threatening, I’m a collaborative leader. Having worked in all three lines of defense and consulting, direct, and reinsurance gave me a strong understanding of various challenges. My experience managing remote teams taught me that building relationships and bridging cultural gaps requires intentional visits. Showing up signals to members they truly matter. It’s a powerful affirmation, “You are seen, and your voice is heard”

My stakeholders tell me I’m good at anticipating and solving problems. I credit them for proactively finding me. This trust allows the impact of our strategies to be amplified, provides the benefit of doubt when execution isn’t perfect. These experiences let me see the world through others’ lenses, ensuring SOA addresses the most impactful issues.

PROJECT LEADERSHIP / CHANGE MANAGEMENT: Describe a significant project that you led in the workplace or in your volunteer activities. Describe how you made decisions and addressed changes that were proposed, whether changes were made, or were not made, after considering all options. How did you achieve buy-in in the final outcome, and what were the biggest challenges you had to overcome?

In 2018, I was co-chair for the “ERM Stakeholder Engagement” research. Our project group comprised numerous experts, offering diverse opinions. As we neared completion, it became evident that reconciling these different but valued perspectives posed a challenge. The researcher, despite best efforts, struggled to accommodate every proposed change, risking significant delays.

Our actuarial community is home to some exceptionally bright and knowledgeable individuals. We will find the most success when everyone can contribute to the success of a common objective.

Individual Engagement: A Path Forward
To address this, I deliberately met with each member individually. I provided a platform for them to voice their opinions. I reminded everyone of the overall purpose and the desired outcome. Armed with this context, I inquired deeper: What were the critical points requiring attention? Which aspects can be considered “good to have”? I collaborated closely with the researcher, proposing changes that addressed most key points.

Navigating Remaining Differences
However, remaining differences persisted. I objectively presented the rationale behind each opinion, fostering understanding and alignment. At the end, our shared commitment to success propelled the research forward.

Influencing Outcomes through Collaborative Leadership
As a leader, I recognize no one solution is 100% perfect. Our complex environment demands adaptability. Our role is to create a framework that empowers experts to thrive together, knowing when “good enough” suffices, understanding the limits of change, and navigating with patience and a purpose in mind.

In summary, my experience underscores the importance of active listening, strategic compromise, and unwavering dedication to achieving shared goals.

ACTUARY OF THE FUTURE: What does the future of the actuarial profession look like to you? What strategies should the SOA implement to grow the actuarial profession, especially in light of more competition for analytical skills and data science job opportunities?

Our profession is a cornerstone of the financial services industry. While technologies change over time, actuaries’ judgement is key to the continuing success of our industry.

To ensure future success, we must embrace technology and foster continuous learning. By investing in professional development and leveraging diverse skills, we empower actuaries to become strategic leaders who drive innovation, address global challenges, and ensure relevance. (e.g., At our APAC Symposium, we organized a Datathon for young actuaries, offering them a chance to apply their skills to solve real-world problems.) Gen Alpha are digitally adapted. They are motivated by creative work with impact and seek growth. They are a global generation. The SOA can consider:

Communication

• Utilize social media, podcasts, and YouTube to disseminate information about the profession
• Introduce actuarial concepts early by collaborating with schools to offer workshops and webinars Creative Work Making a Difference
• Highlight how actuaries contribute to society by managing risk and expanding protection, emphasizing community impact
• Emphasize the dynamic and creative nature of our work, combining data insights with judgement to solve problems Continuing Growth
• Highlight profession’s potential for international mobility, diverse roles, and continuous learning
• Develop leadership skills: Actuaries can become strategic partners by understanding organizational dynamics

Career trajectories are changing. Actuaries can pivot into diverse roles: risk, data science, finance and beyond. Highlight transferable skills: analytical thinking, problem solving, and communication that transcend specific roles. Often, the most desirable skill is the ability to bridge gaps between technical experts, business leaders, and clients.

INNOVATION / ADAPTION: How has your experience prepared you to lead through challenges such as AI, technological disruption, climate change and generational shifts? How would you guide a knowledge-based workforce, including actuaries, in addressing these emerging issues?

Our profession faces significant challenges from AI, technology, climate, and generational shifts. These changes are reshaping our industry, requiring us to adapt and innovate continuously. My experience has prepared me to lead through disruptions by fostering a learning organization and developing a resilient, adaptable team.

In my roles as Chief Actuary and Chief Operating Officer, I coached, motivated, and trained teams to embrace change. By developing the ability, mindset, and skills to learn and adapt, we can turn challenges into opportunities.

An example is when I set up a back office. I implemented an automated solution to conduct quality checks when data is received. I brought together Admin, Business Development and Actuarial each reporting cycle to review movement analysis, understand new data, and align sales expectations. This forum allowed cross-learning, ensured insights and trends were shared, and facilitated principle-based discussion to ensure fit-for-purpose solutions. It prepared the team for unanticipated changes, fostered collaborative problem-solving and improvements.

My vision is to lead teams that thrive amid disruption and drive positive change. I would guide a knowledge-based workforce by:

• Promote Up-Skilling and Cross-Functional Learning: Encourage continuous education and cross-functional training to keep skills relevant
• Foster Innovation: Partner with experts to leverage AI and other technologies
• Implement Robust Data Governance: Ensure data integrity, ethical use of technology
• Foster Open Communication and Knowledge Sharing: Create platforms for sharing insights and best practices
• Embed Sustainability and Climate Awareness: Integrate sustainability into our strategic planning
• Establish frameworks to prioritize, measure, and adapt changes