ACAS - May 1989
Candidate Information
Education:
B.S. Mathematics – University of Connecticut (1980)
M.S. Mathematics/Actuarial Science – University of Connecticut (1984)
Current Employment:
PwC – Managing Director, Risk Modeling Services
CAS Committees
CAS - Casualty Loss Reserve Seminar Joint Committee (2013 - Present)
CAS/AAA - Casualty Loss Reserve Seminar Joint Committee (2007 - 2013)
CAS - Valuation, Finance and Investment Committee (2005 - 2007)
CAS - Special Interest Seminar Committee – Member (2003 - 2005)
CAS / GIRO 2001 – CAS Coordinator for first CAS presentations at the Faculty and Institute of Actuaries 2001 GIRO Meeting in Glasgow, Scotland – formed 2 working groups (this was one of CAS’s first international initiatives)
CAS - Special Interest Seminar Committee – Chairperson (2000 - 2003)
CAS - Board Nominee (lost by about 40 votes) (2002)
CAS - Continuing Education Committee Member (1997 - 2002)
CAS - Secretary for CAS Board of Directors (1997 - 2000)
CAS - Program Planning Committee Member (1992 - 1995)
CAS - Task Force on Focus Group Seminars – Chairperson (1994 - 1997)
CAS - Ratemaking Seminar – Chairperson (1992 - 1993)
CAS - Ratemaking Seminar Committee – Vice Chairperson (1991 - 1992)
CAS - Ratemaking Seminar Committee – Member (1990 - 1991)
Actuarial Speaker
Too many to list but list includes: Ratemaking Seminar, CLRS, Special Interest Seminar, CANE, CAGNY, CAS Annual Meetings, America’s Claims Event, and Vermont Captive Insurance Association. Topics included: The use of Credit for Underwriting Auto (in the 1990’s), Valuation and the M&A textbook, Underwriting Cycles Impact on Loss Reserves, Integrating Predictive Analytics in the Claims Process, Professionalism.
Publications
“The Actuarial Role in a Risk-Focused Statutory Examination”– CAS E-Forum, Fall 2015
Insurance Industry Mergers & Acquisitions – Society of Actuaries Textbook, 2005
“Tax Opportunity that Knocks Once Every 5 Years” – Contingencies, March/April 1998
“Using Company Specific Loss Reserve Discount Factors” – The Interpreter, February 1998
Employment History:
PricewaterhouseCoopers LLP – Managing Director, Actuarial Services (1996 – Present)
Plymouth Rock Assurance – Vice President and Appointed Actuary (1994 – 1996)
Aetna Life & Casualty Insurance Company – Officer Commercial Pricing (1981 – 1994)
Membership and Activities in Other Organizations:
Casualty Actuaries of New England
Vermont Captive Insurance Association – PwC member representative
Civic Activities:
Town of Canton Finance Committee – Member (2007 – 2012) & Chairperson (2010 – 2012)
Town of Canton – Elected Moderator (2013, 2015, 2017, 2019, 2021)
Revere and Son Heritage Trust – Board of Directors (2020 – Present)
Other Relevant Information:
I have worked for a l P&C Insurance Company (AETNA), a small regional personal lines Insurance Company (Plymouth Rock), and a big four accounting firm (PwC) performing audit and actuarial consulting services. I understand the different needs of our members.
Served as an actuarial expert witness on four litigated cases.
Served as Appointed Actuary for 15 insurance companies and one Group Self-Insurance Trust.
Currently serving as appointed actuary for four domestic insurance carriers, four Vermont captive insurance companies, two Bermuda Captives, and one Group Self-Insurance Trust.
From the day I was admitted as a Fellow to the CAS in 1990, I have participated on CAS committees and made an effort to contribute to the profession that has served me well in my career. I would like to serve as a member of the Board of Directors so that I can use my collective experience to effect change in our strategic plan and have a voice in the governance of our society.
My efforts in the CAS have been focused on Continuing Education (CE) committees because it aligns with my personal values and passion of strengthening knowledge and collaboration within our membership. The goal of the CAS CE committees is to promote and facilitate an open forum for our members, business professionals, and industry leaders to share knowledge and ideas, find solutions to complex business issues, and, ultimately, continue the advancement of our profession.
As I served on these CAS committees, I have demonstrated that I possess the key attributes required to be a valued member of a committee and an effective leader. I have contributed to the success of each committee I have served, and have succeeded to be appointed as Chair for many of these committees. If elected to the CAS Board, I will listen to other members’ point of views, educate myself on every issue brought to the Board, and make decisions and recommendations that I believe to be are in the best interest of the CAS.
As noted on my CAS history, after serving as Secretary to the CAS Board, serving as chair for the Ratemaking and Special Interest Seminar Committee, and organizing the CAS’s participation in GIRO (the CAS’s first international CE collaboration), I was nominated to run for a CAS Board position in 2002. I was honored to be nominated, and very disappointed that I missed out on the opportunity to serve by a few votes. However, in retrospect, I am better prepared to serve as a member of the CAS Board now than I was twenty years ago when I was first nominated. Since that time, I have had the opportunity to serve on other boards, be a Chair of a public finance committee, and be elected to serve as Canton’s Town Moderator. I have also participated in many Board meetings and have developed relationships with business leaders who are responding to similar issues the CAS is encountering.
With this nomination, I bring tremendous experience and knowledge that I can share with other members of the CAS Board as we deliberate and make important decisions that impact the future of our organization. I want to serve as a member of the Board to bring our membership together to work on a strategic plan that is consistent with our members’ priorities.
The key issues the CAS is facing today are:
- The CAS has a strategic plan that many members do not support, creating a divide in our membership and a distraction from other important issues that need focus.
- The CAS continues to lose qualified college candidates to the SOA or other professions, such as financial engineers, statistical modelers, and data scientists.
- The demand for core CAS actuarial services is not growing as fast as our membership. Unless this is addressed, the value of becoming an FCAS will continue to diminish.
The most important issue facing the CAS today is implementing a strategic plan to ensure our profession continues to grow and attract the highest quality candidates. Currently, we have a large number of members who are not comfortable with the strategic direction of the CAS. The CAS will not be successful implementing any strategic plan unless the membership agrees with the direction. The CAS needs to reunite its membership and collaborate on a plan to resolve the concerns that have been raised. If elected as a member of the Board, I will use my skills as a Public Moderator to enhance transparency, solicit member input, and encourage the Board to adopt a plan that is consistent with strategic objectives established by its membership.
Attracting the best and brightest students is critical for the long-term success of the CAS. Given the bar we establish for membership, we need to ensure that the “reward” for success justifies the journey. The “reward” for most candidates is measured in terms of job satisfaction, salary, and job security. All three measures are dependent on the demand for actuarial services. A large portion of the core work previously performed by actuarial students is being replaced by bots or service centers outside of the US. We need a strategy to address this.
It amazes me that I still get asked what an actuary is. Every member should get as mad as I do when someone asks that question. For so many years, I was able to say, “An Actuary is the number one rated career in the United States.” If you Google to see where our profession currently stands, Actuary is no longer #1 – it’s #20 (https://money.usnews.com/careers/best-jobs/rankings/the-100-best-jobs)! We are behind Data Scientist, Financial Manager, Operations Research Manager - three services Actuaries provide. As a member of the CAS Board, I will help develop a plan to reverse this trend.
The CAS needs to consider expanding our area of professional expertise. While the CAS must maintain its focus to protect our core services, actuaries are now applying their skills and expanding in many areas outside of insurance. When an actuary leaves the insurance industry to work in other developing areas, the current mindset is that we lost another actuary. The CAS needs to shift this mindset and own the predictive analytics and modelling services being performed by many CAS actuaries today. As a member of the CAS Board, I will work to expand our recognized “services,” enhance our name recognition, and leverage our tested skills and professional standards to create greater demand for the services we perform.
