SOA Board Skills and Experience Definitions
AI/Technology
Definition: Nominee/Incumbent demonstrates expertise in understanding, applying, and overseeing technology—particularly artificial intelligence, data, and analytics—to support organizational strategy, operations, and decision-making. This includes knowledge of what modern technologies can enable, their limitations and risks, and how they impact business models, workforce needs, governance, and long-term growth. Expertise reflects the ability to guide the SOA in adopting relevant technologies responsibly and effectively for its members and organizational future.
Board Experience and Readiness
Definition: The individual has prior experience serving on a nonprofit or corporate Board and demonstrates a clear understanding of the Board’s governance role in providing strategic oversight and stewarding the organization’s mission. The Nominee/Incumbent appropriately distinguishes between governance and management responsibilities and contributes at a strategic rather than operational level.
The Nominee/Incumbent understands and accepts the fiduciary duties inherent in nonprofit Board service, including the duties of care, loyalty, and obedience, and recognizes that service on the SOA Board entails acting in the best interests of the Society as an institution.
Corporate Leadership
Definition: Nominee/Incumbent has held senior leadership positions in corporate and/or not-for-profit environments, demonstrating the ability to lead people, guide decision-making, manage complexity, and drive organizational success. Leadership experience reflects the ability to provide strategic direction, foster collaboration, inspire innovation, and uphold governance standards essential for the SOA’s continued growth and development.
Financial Oversight
Definition: Nominee/Incumbent’s background includes financial oversight within a corporate setting, ensuring a comprehensive understanding of critical corporate financial documents and the ability to scrutinize relevant reports effectively. This expertise in financial management is demonstrated through their ability to identify potential financial risks, develop mitigation strategies, and ensure regulatory compliance.
Global
Definition: Nominee/Incumbent has worked in international settings, either through multinational corporations or significant projects abroad. They possess a strong understanding of global markets, cross-cultural communication, and international business practices. This global perspective is crucial for contributing to SOA's strategic positioning and fostering international relationships.
Not-for-Profit
Definition: Nominee/Incumbent has experience contributing to or leading not-for-profit organizations. This includes a history of volunteering with the SOA through its education, research, professional development, sections/communities, or other activities. This expertise includes understanding the unique challenges and opportunities in not-for-profit governance, such as volunteer recruitment and coordination, consideration of diverse points of view, and strategy and outcomes. The candidate demonstrates the ability to balance mission-driven objectives with strategic success and operational sustainability.
Professional Education and Development
Definition: Nominee/Incumbent has experience designing, leading, or overseeing professional learning and development for actuaries or other professionals. This includes work in universities, employers, professional associations, or the SOA (for example: building curricula, training programs, mentoring frameworks, or structured development pathways). This expertise goes beyond participation as a learner and involves accountability for the strategy, design, delivery, or evaluation of education or development offerings, informed by how professionals learn, develop competence, and apply knowledge in practice. This reflects a commitment to developing others and the ability to foster growth, readiness, and excellence in the actuarial profession.
Risk Management
Definition: Nominee/Incumbent possesses experience in risk management, encompassing the identification and evaluation of organizational risks, including reputational risks. This expertise includes assessing appropriate risk mitigation measures, thereby enabling the Nominee/Incumbent to provide thorough and robust assessments and evaluations of organizational risks and the adequacy of risk mitigation measures in a comprehensive manner.
Strategic Planning
Definition: Demonstrates involvement in strategic planning within a corporate environment. Enables a Board member to contribute to the formulation of the SOA's vision, establish priorities, and allocate resources efficiently to ensure long-term success. Facilitates effective participation in strategic initiatives, organizational positioning, and future planning.