Non-Traditional Actuarial Roles International Association of Black Actuaries Annual Meeting Chicago, Illinois August 3, 2013 Leston Welsh Vice President, Sun Life Financial

2 Agenda Background Sample “Paths” Industries Rationale Critical Competencies Career Development Actuarial Pitfalls Q&A

3 Sample (Re)Insurance/Pension “Paths” CEO CFO Chief Actuary Valuation Actuary Student

4 Sample (Re)Insurance/Pension “Paths” CEO General Manager Product Manager Pricing Actuary Student

5 Sample (Re)Insurance/Pension “Paths” HR / Benefits Manager Consultant Student

6 Sample (Re)Insurance/Pension “Paths” COO Actuary Student

7 Sample (Re)Insurance/Pension “Paths” CIO Actuary Student “Rotations / broad experience is the key”

8 Industries “Chief” Positions at Insurance/Pension companies Financial Planning Banking Investment Firms / Wealth Management Mergers and Acquisitions Capital Management Utilization of Predictive Modeling “The possibilities are endless”

9 Rationale Extensive knowledge base  Understanding Assets AND Liabilities  Understanding the company “engine”  The big picture  The training Exposure  Company issues & decision making  Viewed as problem solvers Technical expertise  Analytical training encourages focus  Risk assessment “Interest / Desire creates the possibility”

10 Critical competencies Effective Communication  Plain language  Know your audience  Written too! Leading / Managing  Managing vs. leading  People & team building  Project management  Results oriented Technical Expertise  Balance with communication /leading/managing  Balancing the various dynamics “Continuous Continuing Education”

11 Career Development Assess the market Create a Plan / Goal Positioning Mentorship  Both ways “It is in your hands”

12 Actuarial Pitfalls An unregulated formula is for guidance, not decision making Timely decision making Too technical  Bean counter stereotype  The need to sound smart Social skills Subject Matter Experts don’t think alike “Leverage stereotypical pitfalls to showcase strengths”

13 Recap Rotations / broad experience is the key The possibilities are endless Interest / Desire creates the possibility Continuous continuing education It is in your hands Leverage stereotypical pitfalls to showcase strengths

14 Q&A Contact Information: Leston Welsh Vice President, Sun Life Financial One Sun Life Executive Park SC4260 Wellesley, MA Direct: Toll Free: ext