March 2024 SOA Board of Directors Meeting Recap

The Society of Actuaries (SOA) Board of Directors (Board) gathered in Chicago March 16–17 for its first meeting of the year. Among key topics on the agenda were the FSA pathway evolution update, Board elections, strategic planning and the use of AI in the workforce.

FSA Pathway Evolution Update: Through the evolution of the FSA pathway, the SOA aims to create a better candidate learning experience, increase flexibility and provide greater global relevancy. Plans for pathway enhancements were announced in July 2023, and at the March 2024 meeting, the Board approved moving forward with implementation plans, details of which are expected to be announced mid-May.

Reserved Board Seat: The Board approved the Nominating Committee and Governance and Policy Committee’s recommendation to reserve one elected Board member seat in the 2024 election for an international member. This international Board member should live and have primary work focus outside of the U.S. or Canada.

Strategic Plan Refresh: The SOA Strategic Plan encompasses themes and actions from 2022–2024. As part of a refresh of the strategic plan, the Board had initial discussions regarding strategic principles that underpin and drive future strategic direction with a key early focus on continuing the SOA’s development as a global educator of actuaries.

The Board also explored the entry of AI into the work of actuaries, ways the profession must respond, and how the SOA should embed AI throughout its strategy and operations.