Move to higher levels If a CEO is an actuary, he understands the value of actuaries and is more likely to hire actuaries to work in many non-traditional actuarial functions. The Casualty Actuarial Society has an article on its website that says that the Chief Actuary is a business leader who can maintain the necessary levels of professionalism and technical expertise while adapting to change. It is the most visible example of the professionalism of the actuarial career and a “hallmark of the profession” according to Richard Fein, director. Smith Hanley's executive recruiter, Rory Hauser, says: “Think of the chief actuary as the CEO of the individual product or products.
They are business leaders in charge of effectively organizing the product and staff to make them successful. The videos of these interviews will be available as an Internet exclusive on the Actuarial Review website and on the CAS YouTube channel. Companies, and certainly those with European parent organizations, are looking for actuaries and other risk professionals to comply with current requirements and similar regulations in the future. Redactive Publishing Limited publishes The Actuary on behalf of the Institute and the Faculty of Actuaries.
Andreani Callimachou, CEO of CNP Cyprialife and president of the Cyprus Actuarial Association, began her career as an actuarial intern at a life insurance company. Actuaries are involved in several different projects and gain an overview of the operational, financial, actuarial and business development fields that can help them become top managers. For actuaries looking to move to a C-level leadership position or other leadership role within an organization, there are steps that can be taken to prepare for these roles. Professional actuarial organizations often have areas of research dedicated in part to keeping up with industry changes and trends and are committed to advancing actuaries in these areas.
One of the challenges may be to keep up with technological changes; some of these changes will be answered by actuaries who collaborate with other analytics professionals, while other actuaries use continuing education. The Actuarial Accident Society is a professional organization whose purpose is to advance the body of knowledge of actuarial science applied to exposure to property risks, accidents and the like. We wanted to explore whether actuarial training offers a particular advantage to those who want to assume CEO roles in insurance companies. In general, actuaries possess a “great combination of business acumen and technical experience that allows them to successfully fill a CEO position”.
We have seen actuaries move to positions of chief risk officer and chief financial officer, as presidents of insurance and reinsurance companies, as well as banks, and as directors of analysis departments. I don't think many actuaries want to take the stage in front of 800 people and give a one-hour presentation. Recent regulatory requirements, developed in part to respond to the financial crisis in which traditional ways of measuring capital adequacy were insufficient, are another area where actuaries can contribute their modeling expertise to perform stress tests and assess financial security.