Plenary 4 – Strategic Thinking,

Leadership and Personal BrandChair: Trang Duncanson

Speakers: Darren Robinson, Anthony Tockar, Greg Bird, Rashi Bansal

Sponsors:

Strategic Leadership

Work Perspective

Darren Robinson

This presentation has been prepared for the Actuaries Institute 2017 Young Actuaries Conference.

The Institute Council wishes it to be understood that opinions put forward herein are not necessarily those of the

Institute and the Council is not responsible for those opinions.

What is Strategy

• Take out your phone

• Go to ‘respond.cc’ or ‘https://respond.cc’

• Type in the session key: 999168

• Type in what you think strategy is.

• Press Submit

Where and how to compete to achieve Competitive AdvantageStrategy

Sustainable Competitive Advantage

Shareholder Value

Ability to satisfy customer needs better or at lower cost than competitors

Creating sustainable increased shareholder returns

Strategy is about creating competitive advantage

creates

creates

Source: The Boston Consulting Group

Strategy is the answer to five key questions

What is our winning

aspiration?

Where will we play?

How will we win?

What capabilities

must we have? What

management systems do we need?

What are the strategic assets of a modern life

company

• Support for distribution

• Underwriting

• Claims Management

• Low cost administration

• Flexible administration / ability to act or respond rapidly

• Information and pricing

• Clear communication

What are the strategic issues facing the industry

• Supporting distribution post-LIF without vertical integration

• Supporting distribution in a Social era

• Complexity and costs, which make the industry vulnerable to

disruption

• Earning back the industry’s social license

Strategic Assets of a Life Actuary

DataCustomer

Focus

Credible Relationships

TRUSTED ADVISOR TO THE BUSINESS

Skills and KnowledgeTools Inform Advise

Reliable

Actionable Insights through Information

Anthony Tockar

© Anthony Tockar

This presentation has been prepared for the Actuaries Institute 2017 Young Actuaries Conference.

The Institute Council wishes it to be understood that opinions put forward herein are not necessarily those of the

Institute and the Council is not responsible for those opinions.

Senior Data Scientist, CBIG Consulting &

Cofounder, Minerva Collective

Evolving My Personal Brand

Greg Bird

© GJBird 20170510

This presentation has been prepared for the Actuaries Institute 2017 Young Actuaries Conference.

The Institute Council wishes it to be understood that opinions put forward herein are not necessarily those of the

Institute and the Council is not responsible for those opinions.

Role: Actuarial Analyst

Leading leaders

Business

Leading self

Technical

Brand Characteristics:• Strong actuarial and finance

technical skills

• Can do attitude

• Technical Problem solver

Role: Manager, Actuarial

Leading leaders

Business

Leading self

Technical

Brand Characteristics:• Good coach

• Good organiser of work and people

• Strong actuarial and finance technical skills

• Can do attitude

• Technical Problem solver

2000-2003

Role: Senior Consultant

Leading leaders

Business

Leading self

Technical

Brand Characteristics:• Strong influencer

• Interest in non traditional and wider fields

• Good coach

• Good organiser of work and people

• Strong actuarial and finance technical skills

• Can do attitude

• Technical Problem solver

2000-2003

2003-2007

Role: General Manager,

Strategy and RiskLeading leaders

Business

Leading self

Technical

Brand Characteristics:• Strategic thinker

• Strong risk management technical skills

• Strong influencer

• Interest in non traditional and wider fields

• Good coach

• Good organiser of work and people

• Strong actuarial and finance technical skills

• Can do attitude

• Technical Problem solver

2000-2003

2003-2007

2007-2011

Role: Chief Actuary

Leading leaders

Business

Leading self

Technical

Brand Characteristics:• Organisational change agent

• Trusted leader of technical leaders and teams

• Strategic thinker

• Strong risk management technical skills

• Strong influencer

• Interest in non traditional and wider fields

• Good coach

• Good organiser of work and people

• Strong actuarial and finance technical skills

• Can do attitude

• Technical Problem solver

2000-2003

2003-2007

2007-2011

2011-2013

Role: CFO, Insurance

and SuperannuationLeading leaders

Business

Leading self

Technical

Brand Characteristics:• Transformational and scale

leader

• Complex business problem solver

• Organisational change agent

• Trusted leader of technical leaders and teams

• Strategic thinker

• Strong risk management technical skills

• Strong influencer

• Interest in non traditional and wider fields

• Good coach

• Good organiser of work and people

• Strong actuarial and finance technical skills

• Can do attitude

• Technical Problem solver

2000-2003

2003-2007

2007-2011

2013-2015

2011-2013

Role: Director, Insurance Pricing,

Risk and Data AnalyticsLeading leaders

Business

Leading self

Technical

Brand Characteristics:• Transformational and scale

leader

• Complex business problem solver

• Organisational change agent

• Trusted leader of technical leaders and teams

• Strategic thinker

• Strong risk management technical skills

• Strong influencer

• Interest in non traditional and wider fields

• Good coach

• Good organiser of work and people

• Strong actuarial and finance technical skills

• Can do attitude

• Technical Problem solver

2000-2003

2003-2007

2007-2011

2013-2015

2011-2013

2015-2017

?

Strategic Actuaries - APRA proposal

Rashi Bansal

This presentation has been prepared for the Actuaries Institute 2017 Young Actuaries Conference.

The Institute Council wishes it to be understood that opinions put forward herein are not necessarily those of the

Institute and the Council is not responsible for those opinions.

APRA Proposal

“The purpose of the Appointed Actuary role is to ensure that the board has unfettered access to expert and impartial actuarial advice and review, to assist with the sound and prudent management of an insurer and that the insurer gives adequate consideration to the protection of policyholder interests.

The Appointed Actuary must have the necessary authority, seniority and adequate support to ensure their views are considered seriously by the board and they are able to make a significant contribution to the debate of strategic issues at the executive level. The Appointed Actuary plays a key role in, and provides effective challenge to, the activities and decisions that may materially affect the insurer’s financial condition as well as its treatment of policyholders.”

Key attributes of strategic actuaries

• Resilient

• Insightful

• Creative

• Inspiring

• Build relationships

• Accountable

• Collaborative

• Courage

• Perspective

https://cmoe.com/10-traits-of-strategic-leaders/

Challenges we face

• Communication

• Seen as technical experts

• Getting a seat at the table

• Building relationships

• Pre conceived notions and ideas of actuaries

– Too prescriptive?

– Too conservative?

Q&A

Chair: Trang Duncanson

Speakers: Darren Robinson, Anthony Tockar, Greg Bird, Rashi Bansal

Sponsors:

Closing Remarks

Nicolette Rubinsztein

Vice President, Actuaries Institute

Sponsors: