THE VOICE OF IABA Newsletter of the International Association of Black Actuaries June 2007 Volume 9, Issue 2 Pre-Annual Meeting Edition 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 Ceremony Who is the Corporate 2 Advisory Council? Meet the Keynote Speaker: Keith Green Vice President—Product Design of What’s Happening In 4 Your City Allstate Insurance Company Page 3 Advertisements 6 Register now at www.blackactuaries.org Learn about the 2007 Learning Sessions 7 THE VOICE OF IABA Page 2 CORPORATE Cranium and Cocktails COUNCIL CORNER 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 actuaries. Vision of IABA: To be the world’s leading actuarial organization dedicated to influencing diversity by developing and recognizing the achievement of black actuaries. 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 Excellence 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 Empowerment 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 email@example.com 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 CITY AFFILIATE LEADERS: What’s Happening In Your City Boston Affiliate Mawunyo Adanu 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 firstname.lastname@example.org 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- email@example.com 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 firstname.lastname@example.org THE VOICE OF IABA Page 6 Advertisements Newsletter Coordinator: Jamala S. Murray, ASA MAAA Newsletter Support Team: YOUR NAME HERE 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 anonymous submission will be printed. 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] *** NEED DETAILS OF THE SESSIONS! *** c/o Mosher & Associates 19 South LaSalle St. Suite 1400 Chicago, IL 60603 Website: www.blackactuaries.org E-mail: email@example.com IABA NEEDS YOU!! 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 firstname.lastname@example.org Visit www.blackactuaries.org for the listing of Officer positions Contact Officers and Directors directly to learn more about their roles www.blackactuaries.org/generalinfo/contact/ Elections will take place during the Awards and Recognitions Dinner at the Annual Meeting!
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