ACAS - November 1998
Candidate Information
Education:
MMath, Actuarial Science, University of Waterloo, 1995
B.Sc.(Hons), Actuarial & Computer Science, University of Western Ontario, 1993
Current Employment:
Senior Vice President, Actuarial, Aon (Dec. 2006 – present).
Work closely with reinsurance brokers and clients to develop and optimize reinsurance programs within Canada and the Caribbean across a wide variety of non-Life lines of business. Communicate directly with top-level executives to help them understand real-world business implications of decisions based on highly technical work. Develop respected team of highly skilled professionals to improve service levels. Presentations at industry conferences on specific topics (actuarial work in reinsurance, reinsurance market conditions, impact of inflation on P&C businesses).
CAS Activities and Publications:
Exam Committee – 2003-2011 (question prep, exam construction, grading, Vice Chair, Part Chair)
Consultant to Exam Committee – 2011-2014 (question selection, Pass Mark Panel)
1995: “Long-Term Disability Losses under OMPP: A Statistical Treatment”. Jason K Machtinger, Robert L Brown.
Other Actuarial Organizations:
FCIA (2003)
MAAA (2003)
Employment History - Prior Employers :
ING Canada (now Intact): 2002-2006. Director, Actuarial services. Pricing & implementation of Ontario automobile (personal & commercial) rates and algorithms. Loss reserving for Ontario and Atlantic regions. Communication of results (pricing & corporate) to management. Training of junior staff to enable further career progression within ING.
PricewaterhouseCoopers/PwC: 1995-2002. Manager, Actuarial services. Loss reserving, capital adequacy testing across a wide variety of clients in the P&C insurance/reinsurance space. Support for P&C insurance audits. Strategic business consulting based on actuarial analytics. High degree of communication & visibility to client executives.
Membership and Activities in Other Organizations:
Various presentations on Ontario Automobile (1995) and Reinsurance (throughout the 2000s) at the Appointed Actuary Seminar of the Canadian Institute of Actuaries.
Presentations/training on reinsurance and inflation to CIAA (accounting), Insurance Institute of Ontario.
Member of IBC Flood Working Group – Reinsurance Subgroup, 2020.
Other Publications:
1994: “Ontario Automobile LTD Losses: The OMPP Cliff and Bill 164”. Jason K Machtinger and Robert L Brown. Institute of Insurance and Pension Research.
1993: “Accident Benefits Long-Term Disability Losses: First Three Years’ OMPP Experience”. Jason K Machtinger, Robert L Brown. Canadian Institute of Actuaries.
Awards and Recognitions:
1993: Gold medal for academic achievement in Actuarial & Computer Science, University of Western Ontario
Throughout my 29-year career I have worked in actuarial consulting, primary insurance, and reinsurance roles across many lines of business. In that time, I have seen the role(s) of the actuary evolve from a largely back-room function to having a seat at the table when companies are making mission-critical decisions. Actuaries are relied upon to communicate the results of highly technical work to a variety of audiences, in ways that are tailored to make the best use of our work. We serve a crucial purpose in ensuring the financial security of our employers and clients throughout the entire value chain of insurance, which at the end of the day protects our ultimate consumer: the policyholder.
I firmly believe that the CAS provides its members and candidates with the best possible education to serve the public in the Property/Casualty area. The educational system has evolved over the years to be more modern both in terms of content (with the advent of predictive modeling as only one example) and delivery. Admittedly not every aspect of the evolution has been perfect. However, while we would all like to see travel time reduced, the CAS Syllabus and the pathway to Fellowship continues to best prepare our candidates for a rewarding career. I served on the Exam Committee for a number of years, culminating in a role as Part Chair. It is now time for me to again join the volunteer efforts of the CAS to give back to the society that has given me so many opportunities.
At my current role at a global reinsurance brokerage, the lines between the actuarial function and the broking/sales/client team function have blurred. I have worked to make sure that our actuaries are client-facing with a high degree of collaboration, developing strong business and presentation skills along the way, ultimately working in a “non-traditional” manner for their clients. I believe that actuaries in non-traditional roles can bring incredible value. The CAS needs to champion its members’ participation at a business and executive level. I believe my election to the Board would enable me to push in that direction.
Working in Canada and the Caribbean has given me the opportunity to serve a wide variety of clients that have specific needs. Many Canadian actuaries are CAS Members, having successfully completed the Syllabus with specific requirements. In my view, it is critical that Canadian actuaries participate actively on the CAS Board to continue to drive strategic direction and partnership with the Canadian Institute of Actuaries (CIA). Similarly, other international actuarial societies should keep open lines of communication with the CAS. These efforts can only serve to maintain a diverse set of skills and experiences for CAS-credentialed actuaries, affording our members the opportunity to continue to grow their international expertise with leading-edge education. Being elected to the Board will ensure an international view in setting direction.
Issue: Canadian presence on the CAS Board
Discussion: Pillars 2 and 3 of the CAS’ 2021-2023 Strategic Plan are stated as “Diversifying the Pipeline” and “Expanding Globally”. For many years, Canadian actuaries have been credentialed through the CAS examination system. The system has evolved to include international material (6C, 6I, 6T, 6U) in addition to core material. I firmly believe that the CAS offers the best available education for P&C actuaries. It is critical for Canadian actuaries to maintain a voice on the CAS Board to ensure continuing representation. International presence on the Board is critical to fulfilling Pillars 2 and 3 of the Plan.
Issue: Delivery of CAS Education (ACAS/FCAS and Continuing Education)
Discussion: I would like to serve on the Board to ensure that CAS education systems and pathways continue to evolve, offering the most relevant and modern educational topics and materials. These materials should be delivered as efficiently and reliably as possible, whether through computer-based testing, conferences, continuing education webinars, etc. It is crucial that we educate our candidates and members on business & professional topics beyond the purely actuarial work to ensure that we have the skills to perform at the highest executive levels. Keeping a wide array of educational offerings furthers the CAS’ fulfilment of Pillar 1, “Building Skills for the Future”.
Issue: Non-traditional actuarial roles
Discussion: I have been lucky enough to work for the last 17 years in a job that combines the extremely technical world of reinsurance analysis with the business world of reinsurance broking. This kind of position involves a blending of art and science, knowing when to shift gears from pure analytics into the business world of what motivates executives and Boards of Directors. It is apparent to me that many actuaries are not exposed to a wider world of opportunities such as this, whether through a lack of exposure or because of our natural risk-averse tendencies. We need to increase the awareness of non-traditional business roles amongst our members and candidates, effectively selling the potential for career growth. These initiatives will also move the CAS closer to fulfilling all three Pillars of the Plan.
