2021 Elected Board Member Job Description
Position Summary
Responsible, in partnership with other Board members and staff, to lead the organization and the actuarial profession through implementation of the SOA strategic plan and by performing fiduciary, strategic and policy responsibilities.
Term
3 years[1]
Internal Relationships
- Develop collegial and professional relationships with other Board members and key staff.
- Work well with staff and optimize their expertise.
- Communicate questions and concerns to the appropriate volunteer, Board member or staff leaders.
- Encourage other actuaries to get involved in volunteering at the SOA.
External Relationships
- Champion the SOA and the actuarial profession to all constituents and the public. Encourage cooperation among all actuarial organizations.
Responsibilities
Prepare & Participate
- Understand and apply the provisions of the SOA Bylaws and other policies.
- Prepare for, attend and actively participate in all Board of Directors meetings and calls. Constructive participation includes consensus building, not dominating conversations, etc.
- Utilize the strategic governance model: SOA Strategic Plan.
- Implement Board decisions in an effective and timely manner.
- Create and support an environment that is inclusive, where differing perspectives, thoughts and backgrounds are encouraged and valued, and is reflective of the diversity of the members, employers, other constituents and public served by the SOA.
Set Direction
- Provide oversight to the mission and vision statement and strategies of the SOA.
- Establish, review and modify governance policies of the SOA.
- Monitor performance of the Society of Actuaries relative to established plans, goals and budgets.
- Delegate authority for organizational management.
- Articulate, safeguard, model, and promote organizational values, including the Code of Conduct.
Ensure Resources
- Consider issues of capacity (financial and human resources), core capability and strategic position when making decisions.
Provide Oversight
- Ensure that all Fiduciary and Governance Duties are appropriately handled.
Personal Management
- Avoid any decisions, actions or associations that are or could appear to be conflicts of interest.
- Maintain awareness of emerging issues that could impact the profession.
- Extra Responsibilities due to periodic or unexpected organizational items, i.e. strategic planning
- Adhere to the Policy on Responsibilities and Conduct of Members of the Board of Directors
SOA Meeting Requirements
- Three Board meetings per year or as needed (meetings are 1½ days in length, plus approximately a ½ day to read meeting material):
- March
- June (held in conjunction with the SOA Health Meeting)
- October (held in conjunction with the SOA Annual Meeting)
- Conference calls between Board meetings that are 90 minutes long or as needed
- Incoming Board Member Orientation Meeting: October late afternoon on Friday and ½ day Saturday morning prior to the SOA Board Meeting (optional for those returning)
- Leadership Orientation Meeting: November in Chicago, including a reception with staff
Board Assignments
- Serve on committees or task forces as assigned, which could average 1-2 hours per week.
- Each board member has at least two assignments outside of the Board meetings.
- In person meetings and conference calls as required for board assignments
- Two to three speaking commitments (See attached Board Commitments Chart)
Financial Support
- See the Board Policy 330, Reimbursement policy
Qualifications
- Fellow of the SOA
- CPD Compliant
- Exhibits appropriate professional behavior as a representative of the SOA
Preference
- Active member of the SOA
- Demonstrated commitment to the SOA via leadership participation on the Board, section councils, committees or task forces.
Recommended Skill Sets
People Management
- Leadership skills, including ability to respect the historical perspective, credibly assess the current environment and set and communicate an inspirational future direction that engages and motivates positive changes in the organization.
- Performance management skills, including goal setting, feedback, evaluating and rewarding; an ability to get things done through others, hold people accountable, and focus the organization on projects that support the strategic plan
- Building a culture that fosters creativity, open dialogue, and thoughtful risk taking
- Recruiting / team building skills – ability to identify and recruit talent, and organize teams with the correct balance of talents
- Training and development skills – ability to identify and correct skill gaps
- Ability to work with volunteers
Business Management
- Structuring effective organizations and processes
- Change management, including ability to recognize paradigm shifts
- Strategic planning / thinking skills
- Experience serving on a board or leading profit or non-profit organizations
- Project management skills
- Decision-making skills
- Strategic planning / thinking skills
- Marketing skills
- Participating in senior level strategic and/or Board meetings
Personal Skills
- Value differing perspectives and being open to considering those in decision-making.
- Networking skills / organizational savvy – ability to build / leverage a network of relationships and resources
- Time management
- Organizational skills (being organized)
- Respectful of others
- Intellectual curiosity
Communication skills
- Presentation / oral skills
- Listening skills
- Writing skills
Interpersonal skills
- Influence / persuasion skills
- Negotiation skills
- Conflict resolution skills, including facilitating diplomatic solutions
- Work with others and respect different opinions.
[1] Board Members can run for up to 2 terms.