November 2025 SOA Board of Directors Meeting Recap
The Society of Actuaries (SOA) Board of Directors gathered first virtually on October 27 and then in Seattle, WA, on November 2 to discuss strategic goals and organizational priorities. Key decisions included approval of the 2026 essential initiatives and On-Campus Testing Program. Other focus areas included financial planning and projections, discussion of AI and research strategies and a Board governance update.
2026 Essential Initiatives: The Board approved essential initiatives that are designed to further the SOA’s strategic priorities to optimize the candidate pipeline, grow globally and leverage AI. In the coming year, these projects will take precedence as critical key focus areas for the organization.
On-Campus Testing Program: The Board approved the plan for a new initiative that expands access to actuarial education and assessment by bringing the FM exam directly to students at university campuses worldwide. The program is anticipated to begin in spring 2027 at U.S and international institutions that are members of the SOA’s Universities and Colleges with Actuarial Programs (UCAP). Successful students will be eligible for FM exam credit toward the ASA designation. The University-Earned Credit (UEC) program will continue, and UEC universities may switch to offer On-Campus Testing for the FM exam if they choose.
Financial Planning: The Board approved the preliminary draft of the 2026 budget and accompanying multi-year projection for 2027–2028. This budget reflects careful planning to support the SOA’s ongoing operations and strategic priorities. It includes modest adjustments to member fees, updates to operational expenses, and funding to sustain essential initiatives and staff support.
AI Strategy: The Board reviewed the 2026 AI strategy, which is guided by three key priorities and will include applying AI in exam administration and candidate success. The SOA has established a group of AI experts (the AI Reference Group) to identify future skill needs, explore new professional roles, and guide how AI is used in actuarial education.
Research Strategy: The Board continued discussions on the strategic direction of the SOA Research Institute, focusing on principles aimed to strengthen experience studies, direct practice research on high-impact areas and expand global research efforts.
Board Governance: The Board reviewed work that has begun to improve transparency around the skills and experience of the existing Board as well as for future Board needs. In addition, the Board discussed progress on redefining the responsibilities of the Board Recruiting and Selection Committee, establishing the Member Leadership Advisory Council, and developing the Regional Liaison role.
In addition to the meeting, the SOA Board gathered at the Chihuly Garden and Glass Museum for the SOA Annual Recognition Dinner to honor outgoing Board members and recognize their commitment, service and leadership to the organization. The SOA thanks Board members completing their terms, with special recognition for those who rolled off the Board, including Past President Tim Rozar, FSA, CERA, MAAA; Lisa Kuklinski, FSA, MAAA; and Kelly Rabin, FSA, CFA, MAAA.