IABA Newsletter ... - The International Association of Black Actuaries by yaosaigeng


									                                                   THE VOICE OF IABA
                            Newsletter of the International Association of Black Actuaries

        June 2007                                                                            Volume 9, Issue 2
   Pre-Annual Meeting

  To our readers:                   DON’T MISS IT!
  This issue is dedicated
  to giving you all you
  need to know about the
  upcoming annual meet-
  ing. Details are also
  available online.           IABA 14th Annual Meeting
  Looking forward to see-
  ing you in August in
  Chicago, IL!              “ANSWER A CALL TO SERVICE”
  Thank you,
  IABA Leadership                       August 3-4, 2007
                             Doubletree Chicago O’Hare
                                               Chicago, IL

                                •   Professional
                                    Development Workshops
                                •   Networking Sessions                             Inside this issue:

                                •   Noteworthy Speakers
                                                                                    Cranium and Cocktails 2
                                •   Awards and Recognition
                                                                                     Who is the Corporate
                                                                                      Advisory Council?
   Meet the Keynote Speaker:
            Keith Green
Vice President—Product Design of                                                     What’s Happening In
                                                                                          Your City
   Allstate Insurance Company
              Page 3
                                                                                       Advertisements       6

                                 Register now at
                              www.blackactuaries.org                                 Learn about the 2007
                                                                                       Learning Sessions
                          THE VOICE OF IABA                                                                    Page 2

                         CORPORATE              Cranium and Cocktails

Mission of IABA:
The International
Association of Black
Actuaries is a
professional and
student member
organization whose
mission is to
                         *** NEED DETAILS ****
contribute to an
increase in the
number of black
actuaries and to
influence the
successful career
development, civic
growth and
achievement of black

Vision of IABA:
To be the world’s
leading actuarial
dedicated to
influencing diversity
by developing and
recognizing the
achievement of black

Core Values of IABA:
                        Who are the members of the Corporate Advisory Council?
Service                                Anne E. Crumlish, ASA, MAAA, Actuarial Consultant, Hewitt Associates
Professionalism                               Sue Ann Collins, FSA, MAAA, Chief Actuary & CFO, ING
                                       Michael Braunstein, ASA, MAAA, Actuarial Talent Management, Aetna
                                            Paul Haley, FSA, MAAA, Chief Actuary, Genworth Financial
Integrity                            Harold Gray, Director, Howard University Center For Insurance Education
Commitment                   Roosevelt Haywood III, Chairman, National African American Insurance Association (NAAIA)
                                                Shantelle A. Thomas, FCAS, MAAA, Actuary, Allstate
                                  Jennifer Pickett, SPHR, Senior Associate, Mercer Human Resource Consulting
Passion                                   David Simpson, Managing Principal, DW Simpson & Company
Teamwork                        James Speed, Jr., President & CEO, North Carolina Mutual Life Insurance Company
                                  Tad Womack, FCAS, MAAA, Senior Vice President & Chief Pricing Actuary, CNA
                                                             Hartford Insurance Group
                                                                   Towers Perrin
 Volume 9, Issue 2                                                                                                   Page 3

Meet the Keynote Speaker: Keith Green, VP Product Design, Allstate Insurance
Keith Green joined Allstate        Business Administration degree
Insurance Company in June of       from Harvard Business School .
2002. He is currently Vice         He also attended Oxford
President of Product Design        University as a Rhodes Scholar.
where the operational
decisions for Product              Keith and his wife, Sonya, live
Operations take place.             in downtown Chicago with their
                                   two children, Geoffrey and
Previously he was a Product        Alexa. □
Vice President for the Capital,
Southeast, New Jersey, Florida,    *** NEED MORE DETAILS
New York , North Central, and      ****
Northeast regions where he
was primarily responsible for
ensuring profitable growth in
those regions through the
alignment and execution of
product, pricing, and risk
management programs.

Prior to joining Allstate, Keith
was a Director of Mergers and
Acquisitions with Deutsche
Bank in New York and London .
Previously, he worked as the
Chief of Staff for the Chairman
and CEO of Bankers Trust
Company, which was acquired
by Deutsche Bank in 1999.

Keith also worked as a
management consultant with
McKinsey & Company in New
York, Paris and Houston, and
as an investment banker with
Goldman Sachs in New York .

Keith received his Bachelor of
Arts degree from Tulane
University , Master of Arts
degree from Middlebury
College , and Master of

About IABA Foundation
The IABA scholarship for college Juniors and Seniors is merit based and is offered through the IABA Foundation.

The IABA Foundation offers corporations the opportunity to gain exposure to over 700 black collegians and professionals and help
increase the retention of blacks in the actuarial profession.

Sponsorship could include: Corporate Donations, Scholarships to Collegians, Annual Meeting Funding, Website Job Postings

For additional information on how your corporation can participate in IABA’s Corporate Giving Program, contact
Arthur Randolph, II, ACAS, MAAA
Also visit www.blackactuaries.org

The IABA Foundation is a tax-exempt association under Section 501(c)(3) of the Internal Revenue Code.
                              THE VOICE OF IABA                                                                           Page 4

                            What’s Happening In Your City
Boston Affiliate
Mawunyo Adanu
electricinsurance.com     ATLANTA                              nity service project at Project    coln and Temple Universities. We
                                                               Open Hand, in Atlanta on Satur-    were even fortunate enough to
Chicago Affiliate         The members of the Atlanta           day, June 16. Project Open         have Harold Gray of Howard Uni-
Jennifer Clark, ACAS      Affiliate had a wonderful oppor-     Hands prepares and delivers        versity attend and inspire us all
jclark5@allstate.com      tunity to bond and to hone our       meals to those who are unable      with his presentation. The panels
                          negotiation skills when we           to prepare their own due to        providing information regarding
Delaware Valley           hosted 'For All The Marble: A        health challenges. We will also    the career outlook for an actuary,
Affiliate                 Negotiation Skills Workshop"         have a networking cookout          the different actuarial specialties
Kelli Jones, ACAS         presented by Michael Braun-          later in the summer. We look       and obtaining a degree in actuar-
kdsjones@temple.edu       stein, the Aetna representative      forward to seeing as many          ial science. The session ended off
                          on IABA's Corporate Advisory         members as possible at these       with a unique opportunity for
Hartford Affiliate        Council. Members had a won-          events!                            individuals, from high school
Melissa Strother          derful time at the Atlanta of-                                          students to designated actuaries,
strotherM@aetna.com       fices of Hewitt, learning to iden-   DELAWARE VALLEY                    to network with each other. There
                          tify the underlying motivators                                          are no upcoming events to re-
New York Regional         that contribute to how people        We are happy to report that we     port. Hope to see everyone in
Affiliate                 negotiate and ways to make           have been quite busy. There        Chicago!
Clarissa Simpson          these motivators work in the         were three members who vol-
clarissa.simpson@         most efficient and beneficial        unteered their time to attend
ey.com                    way. Hewitt played a gracious        area high school career days.      OHIO REGIONAL
                          host to the group and their
Ohio Regional Affiliate   support was essential in this                                           On March 14th we held our Actu-
Acheampong Boamah,        event being a success.                                                  arial Job Shadowing visit for the
ASA, MAAA                                                                                         Math Club students of Columbus
boamaha@                  In addition to the workshop,                                            Alternative High School (CAHS). 5
nationwide.com            Valarie Fields, the former At-                                          students participated and each
                          lanta Affiliate lead made pres-                                         was assigned to a volunteer actu-
Washington DC             entations to students at Fa-                                            ary at Nationwide Insurance.
Affiliate                 yetteville State University and
Mike Poe, FCAS, MAAA      Westover High School, both in                                           They spent the morning experi-
michael.poe@              Fayetteville, North Carolina,                                           encing our world as actuaries.
towersperrin.com          promoting not only the actuarial                                        The volunteer engaged them in
                          profession, but also the value                                          an ongoing project such as pre-
                          of a mathematics degree, in                                             paring illustrations for a policy
                          general.                                                                holder, using probabilities and
                                                                                                  annuities in pricing for premium
                          To reward and encourage those                                           amounts and insurance benefits.
                          members who were planning to
                          sit exams in the spring, a pleth-                                       In the afternoon, after lunch, we
                          ora of goodies went out in the                                          had an interactive presentation
                          IABA Study Care Packages,            The highlight of our activities,   on the Actuarial Profession. The
                          which were sponsored by Well-        however, was the Math Career       students could relate to their
                          Point. The bags had study ma-        Rap Session we hosted on April     higher aspirations in life and the
                          terials, snacks and stress re-       14th. We took the lead from        potential for risk to hamper such
                          lievers for the exam takers. The     the Chicago affiliate which        ambitions. Hence actuaries
                          Atlanta Affiliate is grateful to     hosted a Rap Session last year.    come into the picture with solu-
                          WellPoint for its support.           In total, there were 25 atten-     tions of life insurance, health
                                                               dees, 4 of whom were high          insurance, pension plans, prop-
                          As we prepare for the annual         school students and 11 were        erty and casualty and several
                          meeting in Chicago, the Atlanta      college students. The colleges     financial stabilization plans.
                          Affiliate will be doing a commu-     represented were Howard, Lin-
                                                                                                  Continued on page 5
   Volume 9, Issue 2                                                                                                           Page 5

What’s Happening In Your City (Continued)
Continued from page 4               pursue a career in medicine         All plans were complete for our      attend, went out of his way to
                                    with specialization in an area      Student Banquet scheduled for        bring in the ordinary folks.
                                    with the highest compensation!      April 4. We were expecting           Come, Saturday, August 11,
Following the presentation,         We asked why not consider           about 50 guests (students,           Columbus IABA affiliate is par-
each student freely shared with     becoming actuary and he             parents, teachers and Ohio           ticipating in Onegoal Family
us what they learnt and their       frankly pointed out the salary of   affiliate members). But it was       Picnic. This all-day picnic at-
choice of a career: Karese had      a specialized medical doctor        not to be…. a couple of days to      tracts a large Ghanaian/African
already decided to pursue Actu-     can be several times higher yet     the events, we started getting       immigrant community with lots
arial Science and had admis-        the years of career path may be     student excuses of conflicting       of ambitious youth. We will
sion to Otterbein College in        similar.                            sports and after-school activi-      have a visible tent location to
Ohio. Howard wishes to be a          It was a lively discussion and     ties. Finally our guest list dwin-   introduce the actuarial career
Business Consultant as he           we believe the students went        dled to just the adults! So with     to the curious as well as pro-
fancy a high profile job; he had    away with renewed interest in       disappointed, we decided to          vide varied insurance aware-
quickly realized the actuarial      what actuaries do. Our sincere      cancel the banquet!                  ness information to the com-
program had lots of backroom        thanks to our Nationwide volun-                                          munity. If you happen to be in
number crunching. Ricky, with       teers as well as Mrs. Norton        As the parable goes, the rich        Columbus, on August 11, visit
lots of aptitude for mathemat-      and Dr Velor at CAHS.               man who threw a party and did        us at the IABA-Columbus Affili-
ics and the sciences want to                                            not get his honored guests to        ate Tent at Maloney Park! □

Membership Updates
          Becoming a member         base.                               bers, do not have access to the      Membership Committee:
          of IABA is just a                                             members only section of the          Michelle Thompson (Chair),
                                             Did you know??? As a       website.
          mouse-click away.                                                                                  Claudia Campbell, Zara
          New member, colle-                 full, associate or stu-
                                                                                                             D’Antignac, and Nana
                                             dent member of IABA,                The new Membership
gian member and renewing                                                                                     Prempeh. □
                                    you are eligible for access to               Kits are ready!!! Mem-
(current) member forms are
available at                        the members only section of                  bership kits were
                                    the website. If you have forgot-             mailed to all new
www.blackactuaries.org. Re-
                                    ten your username and pass-         members in April. Once again,
member, members pay dis-
counted registration fees for       word, you can now sign-up on-       the committee thanks you for
                                    line. Kindly note that access is    your patience, while we replen-
the Annual Meeting.
                                    not immediate, but as soon as       ished our stock.
         Have you changed your      your membership is confirmed,
         name, changed your         your username and password
         address or started a       will be authorized, and you will    As we get close to the end of
new job? Let us know by com-        be notified.                        the fiscal year, I would like to
pleting an Update Form on our                                           thank the members of the
website, so your information        Correspondent members, which
                                                                        committee for all their support
                                    includes our collegian mem-
can be updated in the data-                                             throughout the year.

                                       Interested in being featured in the IABA newsletter?
                                            Have an idea or an article you’d like to submit?
                                We are accepting ideas and articles for the August 2006 edition!
                                   Contact us at iabacommcommittee@blackactuaries.org
                          THE VOICE OF IABA                                               Page 6


Jamala S. Murray,

Newsletter Support

IABA does not
endorse and is not
responsible for
personal statements
or opinions expressed
herein. All
contributions are
subject to editing.
Submissions must be
signed and no
submission will be

                                    Want to see your job posting or advertisement here?
                                               Want details on job postings?
                                           Visit http://www.blackactuaries.org
  Volume 9, Issue 2                                                                        Page 7

 Annual Meeting Learning Sessions Description
SESSION I: Friday, August 3rd, 1:45-3:00 p.m.

Session Ia: Role of Chief Actuary [General]

Session Ib: Addressing the Financial Needs of the Retirement Market [Pension]

Session Ic: Challenges of Enterprise Risk Management in a Public Life Ins. Co. [RM, L]

SESSION II: Friday, August 3rd, 3:15-4:30 p.m.

Session IIa: International Accounting Standards [L]

Session IIb: Applications of Predictive Modeling [P&C]

Session IIc: Actuary's Role in Investment Banking [Non-Traditional]

SESSION III: Saturday, August 4th, 9:00-10:15 a.m.

Session IIIa: Principles Based Reserving [L]

Session IIIb: Considerations for Pricing Medical Insurance for Small Employer Groups [H]

Session IIIc: Enterprise Risk Management for Property and Casualty Companies [RM, P&C]

SESSION IV: Saturday, August 4th, 10:30-11:45 a.m.

Session IVa: Actuary's Career Planner [General]

Session IVb: Multicultural Marketing [P&C]

Session IVc: New Ideas in Health Reserving [Health]

  c/o Mosher & Associates
  19 South LaSalle St.
  Suite 1400
  Chicago, IL 60603



Take on a leadership role for fiscal year 2007-08
• Develop your leadership skills
• Build your resume and professional contacts
• See IABA grow!
                                       Submit nominations or your resume to
                                            Visit www.blackactuaries.org
                                          for the listing of Officer positions
                        Contact Officers and Directors directly to learn more about their roles
    Elections will take place during the Awards and Recognitions Dinner at the Annual Meeting!

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