Newsletter of the International Association of Black Actuaries

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					                         Newsletter of the International Association of Black Actuaries
                                                                       :: JULY 2011




www.blackactuaries.org
    Newsletter of the International Association of Black Actuaries
                                                                                   :: 4     A The Actuarial
                                                                                            Landscape                :: 8     Lincoln Financial
                                                                                                                              Partners with IABA         :: 9     IABA 18th Annual
                                                                                                                                                                  Meeting in Boston




                                                                                                                                  EDITOR’S NOTE
                                                                     Enter the era of “Emergence,        whether collegian, entry-level        making this 18th Annual Meeting
                                                                     Expansion and Enlightenment”!       or experienced actuary, share         possible. Again, beginning with
                                                                     The 18th Annual Meeting of          similar sentiments, or some           this edition of the VOICE, the
                                                                     the IABA is here with us. Three     variant thereof. It is our hope       newsletter committee hopes
                                                                     years ago, barely a week into my    that this year’s meeting will         to be able to bring you unique
                                                                     “American Adventure”, I was         break new grounds with a record       perspectives     from       various
                                                                     privileged to be able to attend     high attendance. Among several        actuaries on a variety of issues;
                                                                     the 15th annual meeting in          firsts, there will be a lunch-        from insights on where they
                                                                     Washington D.C. as a scholarship    time presentation on Friday, in       think the actuarial profession is
                                                                     recipient. I was blown away not     addition to the regular Saturday      heading to how they think up
                                                                     only by the commitment and          lunch-time presentation.              and coming actuaries can better
                                                                     the passion of the participants     I encourage collegians and entry-     position themselves to be able
                                                                     to the cause of the IABA, but       level actuaries alike to get more     to deal with all the innovations
                                                                     also by the camaraderie and the     involved with the IABA. With          in    the    financial     services
                                                                     genuine interest of more senior     just about a year’s worth of          industry. I urge all to read Dodzi
                                                                     and experienced colleagues in       actuarial work experience, I          Attimu’s piece, “The Actuarial
                                                                     the development of aspiring         was already leader of the             Landscape”.
                                                                     actuaries. That experience was      newsletter committee. Numerous        Please enjoy, and I hope to see
                                                                     the birth of many long-lasting      such instances exist within this      you all in Boston. Come inspire
                                                                     friendships.                        organization: a testament to the      and be inspired. Come help
                                                                     Personally, whilst a collegian,     fact that there are opportunities     the IABA continue to emerge,
                                                                     these annual meetings also          within the IABA to take on            expand and enlighten.
                                                                     served as fountains where I         responsibility and to grow.           Kwabena Kesse
                                                                     went to drink of the abundance      This edition of the VOICE profiles    Newsletter Chair
                                                                     of inspiration. I am certain        some outstanding ladies and
                                                                     that most meeting attendees,        gentlemen whose dedication is



2   www.blackactuaries.org                                                                                                                                                 JULY 2011
    Newsletter of the International Association of Black Actuaries
                                                                                       :: 4    A The Actuarial
                                                                                               Landscape            :: 8    Lincoln Financial
                                                                                                                            Partners with IABA          :: 9      IABA 18th Annual
                                                                                                                                                                  Meeting in Boston




    Midway through 2011: Many Irons in the Fire
    By John Robinson, IABA President, FSA, MAAA

    The IABA is a multi-faceted                      posters at all experience levels.         The Annual Meeting, under the capable
    organization, with activities taking           • In response to a request from the         leadership of Monique Hacker, will
    place on several fronts. Here is a               Fund Development Committee, a list        once again break barriers. This year’s
    glimpse of what has happened so far:             of future projects has been created,      innovations will include:
                                                                                                                                                 In this Issue:
     • Up to the May CAC Meeting, affiliates         and will be discussed by Affiliate         • A lunch-time presentation on Friday,
       had held 19 events and registered 359         and Committee leaders at our two             in addition to the one on Saturday;            IABA Recognitions ................. 6
       touches. I can attest to two additional       leadership meetings. Some of these         • A session for collegians, which will
                                                     will be incorporated into next                                                              Membership Corner ...............7
       Hartford Affiliate events which I                                                          evolve into an IABA Boot Camp
       attended since that time: a Speaker           year’s plans.                                for prospective entry-level actuarial          2011 Meeting Agenda ...........12
       Series event hosted by Travelers and        • The Education Committee, in                  candidates; and
       the Howard University Summer                  partnership with the Richmond              • A visit by two prominent actuarial
       Intern School.                                Affiliate, is piloting a Resume Book         leaders from Africa.
     • As of the time of writing, our                service, which will benefit collegians                                                             :: JULY 2011
                                                     and colleges.                             The Networking Reception promises to be
       Scholarship Program has attracted 100
                                                   • The IABA will be co-sponsoring            another seafarer’s delight. My personal
       applications, an all-time best.
                                                     another networking event with the         goal is to see a whale!
     • The Technology Committee has
       revamped the registration website and         Chinese Actuarial Club and the            If you think you have something better
       upgraded the hosting of our website           Caribbean Actuarial Association,          to do than attend the Annual Meeting, I
       and email.                                    just before the SOA Annual Meeting        encourage you to reconsider. I promise
                                                     in Chicago. This is fast becoming a       you will be inspired and make a few
     • The Actuarial Science Club of the
                                                     permanent fixture at SOA Annual           new friends. I will close by once again
       University of Texas - Arlington elected
                                                     Meetings, and I have challenged our       recognizing the great commitment and
       two UTA-IABA Ambassadors. We
                                                     leaders who are CAS members to            passion that you all bring to the IABA,
       expect to form similar relationships
                                                     produce something similar at CAS          which will always be its most important
       with other interested colleges.
                                                     Annual Meetings.                          strength. Thank You for All You Do
    In addition to these accomplishments,                                                      for IABA!!
                                                  What impresses me most about these
    other activities are sowing seeds for our                                                  John
                                                  accomplishments and plans are that they
    future endeavors.
                                                  are for the most part being driven by the
     • The Board has approved                     members, working through our Affiliates      IABA President
       implementation of a revolutionary          and Committees. Just as we find in the
       new approach for job posting, which        world of work, the velocity of activity in
       will benefit both job-seekers and job-     our organization is increasing.



3    www.blackactuaries.org                                                                                                                                                 JULY 2011
    Newsletter of the International Association of Black Actuaries
                                                                                               :: 4     A The Actuarial
                                                                                                        Landscape                :: 8     Lincoln Financial
                                                                                                                                          Partners with IABA      :: 9    IABA 18th Annual
                                                                                                                                                                          Meeting in Boston




    The Actuarial
    Landscape –
    Advice for up and
    coming actuaries
    Dodzi Attimu, PhD, ASA, MAAA

    It’s an open secret that the actuarial profession requires
    technical, communication and general business
    skills. With regards to technical skills, competency in
    the following is necessary: Mathematics, Statistics,
    Economics, Finance, Business, spreadsheet proficiency,
    computer programming among others. Regarding
    communication skills, you probably have heard a couple
    of jokes about how “excellent” the stereotypical actuary
    is when it comes to communicating the results of his
    profound analyses. Suffice it to say, the actuary’s technical
    expertise is only as good as its usefulness to the relevant
    stakeholders. To get stakeholder buy-in, you have to
    convey the technical results in a clear, understandable,
    convincing and competent manner. In the real world, not
    all stakeholders will have the same technical background
    as the actuary. Hence the importance of effectively parsing     rigorous Mathematics with the notion that “all the           may arise, you may have to access material that require
    technical results to a non-technical audience cannot be         abstract mathematics is not applicable in the real world”.   background in stuff like Radon-Nikodym derivatives
    overemphasized. Another important trait that an actuary         There is this popular misconception that for mathematics     (general financial arbitrage theory, interest rate and
    needs is general business acumen. An important aspect           to be “applicable” one should be able to plug in numbers     equity scenario generation), vector fields (duration and
    of this is being able to see the big picture, or what some      and directly have an “answer”. The beauty and power of       convexity analysis), stochastic optimal control (pricing
    term, “big picture thinking”.                                   mathematics is not in plugging numbers into a formula        of surrender and other options in Guaranteed minimum
                                                                    and getting an “answer”; it is in providing a framework      withdrawal benefits) and the list goes on and on. It
    The actuarial exams are a good start for developing             within which to understand, analyze and solve problems.      also helps to have more than a cursory knowledge of
    technical skills. Nonetheless, for an actuary that wants        For example, an understanding of measure theory and          the underlying mathematical underpinnings of models
    to work in fields like risk management, asset liability         concomitant financial mathematical applications thereof      because it enables one to know the limitations of any
    management (ALM), hedging, investments, and                     would point out the problem with discounting average         modeling framework employed. Blind faith in a model
    pricing of interest rate sensitive products, some extra         (stochastic interest sensitive) cash flows using a best      can be disastrous no matter how beautiful or elegant the
    mathematical horsepower would be needed. If you are             estimate discounting curve. In searching for solutions       underlying theory.
    still in school, do not fall into the trap of dismissing        to various conceptual and modeling questions that                                                     continues on Pg. 5




4    www.blackactuaries.org                                                                                                                                                         JULY 2011
    Newsletter of the International Association of Black Actuaries
                                                                                                       :: 4        A The Actuarial
                                                                                                                   Landscape               :: 8     Lincoln Financial
                                                                                                                                                    Partners with IABA      :: 9     IABA 18th Annual
                                                                                                                                                                                     Meeting in Boston



    Landscape cont.
    What can one do to improve one’s communication          in other areas of your company is one way to obtain
    skills? As with everything, the more one does it,       a better understanding of your company’s business
    the better one becomes at it. When you are given        as a whole. Please don’t forget to be upfront about
    an assignment, it is not enough to just “plug and       your goals with your boss. It is also important to
    play” and produce numbers for your boss. Strive to      set your eyes on the goal of becoming a world-
    have an understanding of why the numbers came           class professional. In that pursuit, do not sweat the
    out as they did, based on the circumstances. In         small stuff. If you get to this point in the article,
                                                                                                                                      Mission of IABA
    providing any deliverable, seize any opportunity to     please pause, close your eyes, raise your right                              The International Association of Black Actuaries is
    provide this insight. There will be many meetings       hand and repeat: “I will not sweat the small stuff”!                         a professional and student member organization
    an actuarial student will find themselves in. In        For example, do not get entangled in unnecessary                             whose mission is to contribute to an increase in
    these meetings it helps to contribute to problems       political power struggles. When two or more
                                                                                                                                         the number of black actuaries and to influence the
    that arise as well as ask questions. Bring your         individuals decide to go at it, you don’t have to take
    unique perspective and propose solution to              sides. Remain neutral and treat all those involved                           successful career development, civic growth and
    problems. As much as possible, bring up an idea         with respect. Whatever struggle people engage in                             achievement of black actuaries.
    to solve a potential problem you have identified.       is their problem. Your priority on the other hand,
    When there is an opportunity to present findings to     should be to excel at what you do, develop yourself                       Vision of IABA
    a group at work, seize the opportunity. In addition,    and advance as quickly as possible. One obvious                              To be the world’s leading actuarial organization
    be prepared to disagree and to be disagreed with        advantage of not taking sides in these issues is
                                                            that, it frees you from unnecessary hassle and most
                                                                                                                                         dedicated to influencing diversity by developing
    at work, without getting emotional about it. That
    is one way of improving one’s communication             importantly, you do not have to be worried about                             and recognizing the achievement of black actuaries.
    skills. In fact, being cognizant of the fact that in    who wins the political battle as you are on good
    a corporate environment, a rejection of your idea       terms with all.                                                           Core Values of IABA
    is not a rejection of your personality should help      In conclusion, your career is what you make it.                                       Service :: Professionalism :: Excellence
    keep things in their right perspective.                 Gone are the days when a designation was all                                         Integrity :: Commitment :: Empowerment
    On the big picture thinking front, any activity that    you needed to push you ahead in your actuarial                                                  Passion :: Teamwork
    an actuary engages in is just a part of the whole. As   profession. To have a fulfilling career, you need to
    an actuarial student, it is important that one does     be proactive and take initiative to improve your
    not limit one’s understanding to just what one does.    technical, communication and business skills
    Consequently, talk to people in your firm and have      and seize any opportunity to add value to your                           Contact Information
    an understanding of how what you do fits into the       employer.                                                                IABA, PO Box 369, Windsor, CT 06095
    big picture. In addition, it is important to know the   *The author is an Associate Actuary with ING US Financial Services.
                                                                                                                                     Website: www.blackactuaries.org
    “whys” as well as the “hows” in your day to day         He joined ING in 2008 after he graduated from Howard University
    work. Do not become a “glorified button-pusher”,        with a doctorate in Mathematics.                                         Email: iaba@blackactuaries.org
    lest a cheaper-to-maintain robot gets programmed                                                                                 Affiliates: www.blackactuaries.org/affiliates
    to do your job! Finally, it is important you do not
                                                                                                                                     Newsletter Committee: Kwabena Kesse (Chair), Ernest Nana
    stay in one role for too long early in your career.
                                                                                                                                     Ofori, Olayinka Rufai, Eric Odame and Gerik Whittington
    Rotating, or applying internally for jobs that open



5    www.blackactuaries.org                                                                                                                                                                   JULY 2011
    Newsletter of the International Association of Black Actuaries
                                                                                              :: 4     A The Actuarial
                                                                                                       Landscape                :: 8     Lincoln Financial
                                                                                                                                         Partners with IABA           :: 9   IABA 18th Annual
                                                                                                                                                                             Meeting in Boston




     :: IABA Recognitions                                                      Meet some members of the annual meeting plan committee. We are
                                                                               thankful to them for working so hard to make this year’s meeting happen!
    Michelle A. Thompson                  Liability Management (ALM) of        Charmaine       received     her     Manager of Case Competition for       Blue Shield of Georgia. She is
    ASA, MAAA                                                                  undergraduate degree in Actuarial    Boston’s Leaders of Tomorrow          currently serving as IABA’s
                                          the same company.
                                                                               Science (Summa Cum Laude)            chapter, where he facilitated and     Student Liaison.      As Student
    Michelle has been an active           Dodzi has a bachelor’s degree        from St. John’s University. She      mentored the first class of high      Liaison, Tenesia is in charge of
    member of IABA since her first        in Mathematics and Computer          is currently pursuing Fellowship     school students from Boston to        planning the agenda, preparing
    meeting in August 2001, and a         Science from the University of       in the Society of Actuaries and      participate in the National LOT       presentations,         identifying
    member of the annual meeting          Ghana and a PhD in Mathematics       the Chartered Enterprise Risk        Case Competition this past June.      speakers,      and      recruiting
    planning committee since 2004.        from Howard University. He           Analyst (CERA) credential.                                                 attendees for the high school and
    As the membership chairperson,                                                                                  In 2008, he graduated from
                                          currently heads the IABA                                                                                        college sessions for this year’s
    her role on the planning                                                   Howard Mapp                          the    INROADS      International
                                          Technology Committee.                                                                                           Annual Meeting.
    committee has centered on                                                                                       Career Development Program
                                                                               A native of Philadelphia, PA,        following several years of active
    communication, and she is             Charmaine S.                                                                                                    Trisa-Lee B Gaynor
                                                                               Howard obtained a degree in          involvement as an intern. A
    always willing to lend a hand to      Peart - Blackman
                                                                               Actuarial Science from Temple        music    production     business      Trisa-Lee currently works at
    any subcommittee to ensure the        Charmaine is an Actuarial            University. Since graduating in      venture in 2005 was short lived       Genworth Financial in Richmond
    success of the annual meeting.        Associate Manager in the             December 2007, he has worked         but Howard continues to value         VA. She is the Assistant Treasurer
    For most of her professional          Individual    Life    Financial      at Liberty Mutual Group and                                                and helps with the Annual
                                                                                                                    the experience as he was able to
    career, her focus has been on         Reporting and Valuation area         attained positions in Personal                                             Meeting Budget.
                                                                                                                    lead an organization at the age
    Healthcare, but she is currently      at Prudential. Prior to joining      Markets Claims, Pricing, and         of 19.
    at Central Piedmont Community         Prudential she worked in active      Reserving.     Howard     worked
    College tutoring Mathematics          health small group pricing           with the IABA Delaware Valley        He is based in Boston, MA.
    and Accounting.                       and network analytics at a           affiliate as a student and since
                                                                                                                    Tenesia McGruder
                                          leading health insurer after         has been promoted to leader of
    Dodzi Attimu, PhD,                    which she went on to perform         the IABA Boston affiliate. He        Tenesia started her career as
    ASA, MAAA                             retiree medical and workers’                                              an Actuarial Analyst in the
                                                                               is continuing his effort towards
    Dodzi is currently an Associate       compensation valuations for a        the IABA mission as a member         Retirement practice at Towers
    Actuary with ING US Financial         management consulting firm.          of the Annual Meeting Planning       Watson in both the Atlanta and
    Services, in the Modeling Group.                                           Committee and presenter during       Washington, DC offices. Her
                                          A longstanding member of the
    In this role, his responsibilities                                         the College & High School            roles primarily included assisting
                                          International Association of
    include the modeling of ING’s                                              Outreach Sessions.                   with pension plan design,
                                          Black Actuaries (IABA), she is a
    inforce    block    of   variable                                                                               benefit   administration,     and
                                          past scholarship recipient, former   Howard is currently a mentor
    annuities and their guarantees,                                                                                 preparing pension valuations
                                          IABA     Foundation      Assistant   for the Liberty Mutual Math
    traditional fixed annuities and                                                                                 and disclosures. Ms. McGruder
                                          Treasurer, a member of the           Excellence Program, a school-to-
    fixed indexed annuities.                                                                                        recently   switched      actuarial
                                          2011 Annual Meeting Planning         work partnership program with
                                                                                                                    professions and is currently              Click   next to Members Name
    Prior to that, he held positions in   Committee and has been New           Charlestown High School. In
                                                                                                                    employed as an Actuarial
    Product Development and Asset         York/ New Jersey Affiliate Lead      October of 2010, he was named
                                                                                                                    Analyst at WellPoint/Blue Cross
                                          since the fall of 2007.


6    www.blackactuaries.org                                                                                                                                                           JULY 2011
    Newsletter of the International Association of Black Actuaries
                                                                                            :: 4       A The Actuarial
                                                                                                       Landscape                   :: 8   Lincoln Financial
                                                                                                                                          Partners with IABA      :: 9     IABA 18th Annual
                                                                                                                                                                           Meeting in Boston



                                                                                                                                   IABA Board of Directors
                                                                                                                                     Sharon K. Robinson, FCAS MAAA Director
                                                                                                                                     Linda Shepherd, FCAS, MAAA Director
                                                                                                                                     Ollie Sherman, FCAS, MAAA Director
                                                                                                                                     Stafford L. Thompson, Jr., FSA, MAAA Director
                                                                                                                                     Jeffrey L. Johnson, FSA, MAAA Director
                                                                                                                                     John W. Robinson, FSA, MAAA Director
                                                                                                                                     Grace Maina, FSA, MAAA Director
                                                                                                                                     Acheampong Boamah, ASA, MAAA Director
                                                                                                                                     Monique Hacker, FSA, MAAA Director

                                                                                                                                   IABA Foundation
                                                                                                                                     Jennifer Middough, FCAS, MAAA President
                                                                                                                                     Veronica Fontama, ASA, MAAA Vice President
                                                                                                                                     Grace Maina, FSA, MAAA Treasurer
                                                                                                                                     Gerik Whittington, Secretary

                                                                                                                                   IABA Officers

     :: Membership Corner                                                                                                            John W. Robinson, FSA, MAAA President
                                                                                                                                     Monique Hacker, FSA, MAAA Vice President
                                                                                                                                     Grace Maina, FSA, MAAA Treasurer

    Membership                           The committee would also like to        The membership dues schedule for                    Gerik Whittington, Secretary
                                         remind all that one of the many         the 2011 fiscal year is as follows:                 Tenesia McGruder, Student Liaison
                                         benefits of being a member of IABA,                                                         Kate Weaver, Executive Director
    Updates
                                                                                 Level of Membership .... 2011 Dues
                                         is that one receives a discounted
                                                                                 Full (active) ........................... $175
                                         rate for the upcoming 18th Annual                                                         Committee Chairs
                                         Meeting in Boston. So as you go on-     Full (retired or
    Our membership target for 2011                                               no longer practicing) ................ $90          Michelle A. Thompson, ASA, MAAA Membership
    is 220 and we are currently at       line to register for the meeting, you
                                                                                                                                     Nicole Harrington, Membership
    162. IABA membership payments        should take advantage of becoming       Associate ............................... $175
                                                                                                                                     John Robinson, FSA, MAAA Mentorship
    are due one year from your last      a new member or renewing your           Student ................................... $90     Dodzi Attimu, ASA, MAAA Technology
    renewal, and electronic reminders    membership, and receiving the           Correspondent Member (college                       Monique Hacker, FSA, MAAA Annual Meeting
    are sent to each member one month    discounted meeting rate.                students, unemployed students,                      Veronica Fontama, ASA, MAAA Scholarship
    before membership is expired. The    The committee members would like        professors) .............................. $45      Ollie Sherman, FSA, MAAA Finance
    IABA membership committee urges      to thank you for your continued         All Other Correspondent                             Nicassia Williams, Education
    all members to pay attention to      interest in and support for the         Members ............................... $175        Kwabena Kesse, Newsletter
    these e-mail reminders, and renew    IABA. Membership is one way you                                                             Jennifer Middough, FCAS, MAAA Fund Development
                                                                                 2011 IABA Membership Committee:
    your membership on-line as soon as   help the organization continue to       Nicole Harrington - Co-Chair; Michelle
    possible.                            Emerge, Expand and Enlighten.           Thompson - Co-Chair; Claudia Campbell;
                                                                                 Claudia Ellis, Les Jones, Suzanne Scott,
                                                                                 Zara D’Antignac


7    www.blackactuaries.org                                                                                                                                                          JULY 2011
    Newsletter of the International Association of Black Actuaries
                                                                                                      :: 4       A The Actuarial
                                                                                                                 Landscape                   :: 8    Lincoln Financial
                                                                                                                                                     Partners with IABA                :: 9      IABA 18th Annual
                                                                                                                                                                                                 Meeting in Boston


                                                                                                                                             Corporate Partners:




     ::    Stephen Turer (left) presents to the attendees of the IABA
           Speaker Series. Event hosted by Lincoln Financial in Hartford.



    Lincoln Financial Partners with IABA for Education, Diversity
    Diversity is a source of strength for        on variable annuity dynamic lapse.         shadowing members of Lincoln’s ADP
    Lincoln Financial Group and a critical       More than a dozen people attended the      program. In addition, Lincoln Financial
    component for our continued success.         event, including members of Lincoln        is sponsoring the career networking
    With a commitment to diversity in            Financial’s   Actuarial Development        lunch on the first day of the IABA’s
    mind, Lincoln Financial has partnered        Program, as well as employees              18th Annual Meeting, which takes
                                                                                                                                             Diamond Sponsors:
    with the International Association of        from other Hartford-area insurance         place August 5 and 6 in Boston, Mass.
    Black Actuaries (IABA), a professional       companies.                                 Stephen Turer will again be a featured            AXA Equitable                  MetLife            Zurich North America
    and student member organization                                                         speaker at the event.
                                                 Jonathan Applewhite, an Actuarial
    whose mission is to contribute to
                                                 Analyst based in Hartford, has been        Several Lincoln Financial employees              2011 Event Sponsors:
    an increase in the number of black
                                                 involved with the IABA for two years       are involved in the IABA partnership,
    actuaries and to influence the successful
                                                 and helped organize the networking         including Brian Kroll, Head of Annuity                   AXA Equitable                              Liberty Mutual
    career development, civic growth and
                                                 event. Jonathan said that the Speaker      Solutions, who sits on the IABA’s
    achievement of black actuaries.                                                                                                             Casualty Actuarial Society                Lincoln Financial Group
                                                 Series is only part of what the IABA       Corporate Partner Council advisory
    As part of that partnership, Lincoln         does. “It’s a national organization that   board. Paul Spurr, Vice President, IS                        Cigna                                    Nationwide
    Financial hosted an IABA Speaker             also reaches out to students to help       Financial Management, and Becky
                                                                                                                                                      DW Simpson                                 New York Life
    Series event on Thursday, June 23, in        educate them on the role of actuaries,     Chapman,      Senior    HR    Business
    the Hartford office. The event featured      and it also provides scholarships.”        Consultant, also serve as diversity co-                   Ernst & Young                           Society of Actuaries
    light refreshments and networking                                                       champions to manage the relationship
                                                 In the fall, Lincoln Financial will
    opportunities for the attendees, followed                                               with the IABA.
                                                 participate  in   the    IABA’s   job
    by a presentation by Stephen Turer, Vice                                                For more information on the IABA, please
                                                 shadowing program, in which 12 high
    President, Individual Annuity Pricing,                                                  visit their website at www.blackactuaries.org.
                                                 school students will spend a half day


8    www.blackactuaries.org                                                                                                                                                                                JULY 2011
                             August 5 - 6, 2011 | 18th ANNUAL MEETING | Boston, MA




9   www.blackactuaries.org                                                           MARCH 2011
:: 2011 Annual Meeting
                                      18th Annual Meeting
                            Friday & Saturday, August 5 – 6, 2011
                 Hyatt Regency Boston, One Avenue de Lafayette, Boston, MA
  Located in the heart of Downtown Boston, the 18th IABA Annual Meeting is sure to be a big
  success, and a lot of fun! From professional development to networking opportunities, the
  IABA Annual Meeting can help you take your actuarial career to the next level.




                                     Professional Development            Annual Awards Banquet
  Career Networking Event            With sessions tiered to
  An exciting opportunity to                                             A time to recognize new
                                     experience level, attendees         designees, exam passers,
  interact with industry             will learn something new,
  professionals in a casual &                                            and those who helped
                                     and can earn at least 10            IABA throughout the year.
  intimate atmosphere.               continuing education credits.




      Come Join IABA this Summer in Downtown Boston!                 IABA Networking Reception
      Experience motivational and expert speakers,                   Experience the city of Boston
      interact with IABA members & supporters, attend                while engaging with old and
      volunteerism and business sessions and much more!              new friends.
  For More Information:         Visit www.blackactuaries.org     Registration opens in late April



 10    www.blackactuaries.org                                                             MARCH 2011
:: 2011 Annual Meeting
                                     18th Annual Meeting
                           Friday & Saturday, August 5 – 6, 2011
                Hyatt Regency Boston, One Avenue de Lafayette, Boston, MA
                Come join us for two days of professional development and networking.

  CE Credits - earn at least 10 through PD sessions tiered to experience level.

  Networking at the afternoon career networking event and evening networking clambake.




  Registration Fees:                                         For More Information:
  IABA members $175 through July 2, $250 after July 2        Visit www.blackactuaries.org
  Non-members $250 through July 2, $325 after July 2         Registration opens in May
  Actuarial Students $125



 11   www.blackactuaries.org                                                            MARCH 2011
:: 2011 Annual Meeting
      Agenda At-A-Glance                                                                                     Experience Key
                                                                                                  I =	Collegians	&	High	School	students
      Continuing	education	credit	hours	for	the	2011	International	Black	Actuaries	Association	
                                                                                                  II =	Little	to	moderate	experience
      (IABA)	Annual	Meeting	have	been	determined	as	described	in	the	American	Academy	
      of	Actuaries’	standard:	“Qualification	Standards	for	Actuaries	Issuing	Statements	of	       III =	Moderate	to	advanced	experience
      Actuarial	Opinion	in	the	United	States:	Effective	January	1,	2009.”


         Friday, August 5th
          7:30	-	8:30                                                        Breakfast

          8:30	-	9:30                                     College	&	High	School	Outreach	Sessions

                                                                      Personal	Branding
          9:30	-	10:30
                                                                 SOA	Education/Exam	Process

         10:30	-	11:30                                              Mentor/Mentee	Session

         11:30	-	12:30                                             Career	Networking	Event

          12:30	-	2:15                      General	Opening	&	Lunch	with	guest	speakers	-	Social	Insurance

                                P&C	Reserving	                                        Interview	Skills/                Annuity	Risk	
          2:30	-	3:30                                  Pension	Risk	Transfer	
                                Methodologies	                                        Resume	Building                  Management

          3:30	-	3:45                                                  Refreshment	Break

          3:45	-	4:45       ERM	for	Small	Businesses                   Future	of	Pensions	                Post	Retirement	Medical

          6:00	-	10:30                                               Networking	Reception


         Saturday, August 6th
          8:00	-	8:45                                                        Breakfast

                                                      US	Health	Care:	A	Look	into	     Introduction	to		
          9:00	-	10:30            Solvency	II	         One	Actuary’s	Crystal	Ball                               Internship	Advice/Prep
                                                                                        Re-Insurance	

         10:30	-	10:45                                                 Refreshment	Break

         10:45	-	12:00          P&C	Severity	Modeling               Actuarial	Work	in	Africa	                      Group	Life

          12:15	-	1:45                                  Lunch	with	guest	speakers	-	Dodd-Frank	Law

          2:00	-	3:30                                                   Business	Session

          3:30	-	4:30                      Volunteerism	Session	-	Meet	&	Greet	with	IABA	Committee	Leaders

          6:00	-	7:00                                    Scholarship	Reception	(by invitation only)

          7:00	-	10:00                                       Awards	Banquet	with	guest	speaker

          10:00	-	1:00                                                       Afterglow

                                                                                                              IABA	18th	ANNUAL	MEETING	      3


 12    www.blackactuaries.org                                                                                                          MARCH 2011
:: 2011 Annual Meeting

                    18th Annual Meeting * Career Networking Event
                        Friday, August 5, 2011, 11:30 AM – 12:30 PM
                Hyatt Regency Boston, One Avenue De Lafayette, Boston, MA

  Join us for IABA’s second Career Networking Event – held in conjunction with the IABA
  Annual Meeting. This is an exciting opportunity to interact with various company recruiting
  representatives. This reception style event offers a casual atmosphere for productive
  interaction; this is not a traditional career fair event where employers and candidates are
  confined to booths. The Career Networking Lunch will allow you to get to know a variety of
  potential employers at a unique IABA event.




  Benefits:
  •   Attendance at the Career Networking Event
  •   Visit the Career Networking Event webpage to see which companies will be in attendance and
      read about any available opportunities
  •   Opportunity to distribute your resume and gather information from company representatives
  •   Please note, this is not a stand-alone event and is held in conjunction with the annual
      meeting. To reserve your spot at the Networking Event, you must register for all, or a
      portion, of the annual meeting.* Register in early May to guarantee your spot.


  Registration:                                                   For More Information:
  RSVP as part of annual meeting registration on website at       Email: iaba@blackactuaries.org
  www.blackactuaries.org                                          Call: 860.219.9534
  *A limited number of student subsidies are available – see
  annual meeting registration online for details



 13   www.blackactuaries.org                                                             MARCH 2011

				
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