Each year, the Academy gives several awards to members and volunteers to recognize their contributions. In this article, recipients of one of those awards, the Outstanding Volunteerism Award, explain how serving the Academy has benefited their careers, employers, and the U.S. actuarial profession.
What motivates a member to volunteer with the Academy, and what benefits does it offer to their career, employer, and profession?
This was one of the several questions that Contingencies asked past recipients of the Academy’s Outstanding Volunteerism Award, which recognizes volunteers who have performed conspicuously above and beyond reasonably expected duties and responsibilities of Academy volunteers. Specifically, we asked:
- What motivated you to dedicate your time and expertise to volunteering with the Academy, and how has this work shaped your perspective on the profession?
- What has been the most rewarding aspect of your volunteer work with the Academy, and why?
- Can you share a specific example of a volunteer initiative or project that was particularly meaningful or impactful during your service?
- How do you see volunteerism contributing to the advancement of the Academy and the actuarial profession, and what advice would you give to others considering volunteering?
- Can you share how volunteering has benefited you in your career? Beyond the individual experience, how do you think volunteering helps and benefits the employers who encourage it?
Here’s what the award recipients said.
Becky Sheppard, 2024 OVA Recipient
Chairperson, Health Equity Committee
I was motivated to volunteer for a variety of reasons. First, I was at a good place in my career where I felt confident about my skill set and in a role that I found fulfilling, but I was looking for other professional opportunities. Second, as the pandemic began, I started to feel isolated, much like many others. Lastly, I saw things in my community and around the world that motivated me to contribute my voice and experience.
My employer suggested volunteering at the Academy. I honestly hadn’t thought about it before. After exploring the Academy’s website, I learned about the newly formed Health Equity Committee (then a work group) and thought it would be a great way to both learn more about equity and contribute to the discussion. Joining the committee made me realize that the actuarial profession plays a significant role in providing unbiased information to policymakers. Our expertise in modeling risk and explaining complex scenarios is unique and our perspective is welcomed by many stakeholders.
The most rewarding aspect of my volunteer work has been building relationships. I have found connections with like-minded people, and I have been challenged by those with differing opinions, both very rewarding experiences. I have met not only actuaries, but also non-actuaries who rely on or influence our work. I often do not make these connections at work, and they really helped me understand the value of actuarial work and our role in society.
In September 2023, the Health Equity Committee hosted a one-day symposium in Washington DC focused on using benefit design to address barriers to health care. I had the opportunity to help plan the event, working closely with Academy staff and volunteer leaders. There were a series of stakeholder meetings leading up to the event. We worked hard to connect with non-actuary stakeholders to work together on addressing a shared problem. I was deeply impressed by how actuaries were received by these stakeholders and how eager the stakeholders were to work with us. They appreciated our problem-solving approach to this discussion. We learned about barriers to health care and discussed ideas on how to address them.
I had the chance to present at the symposium and to build relationships with many new people. I learned a lot about how the Academy worked and saw the impact of that work.
Volunteerism is critical to the advancement of the Academy and the actuarial profession. Volunteers shape the Academy’s work and demonstrate the value of the actuarial profession. By volunteering, you can make sure your voice and perspectives are being heard and are part of representing the profession. For those considering volunteering, I highly encourage you to give it a try. There are many ways to get involved. Find a committee that interests you at either a personal or professional level and reach out to the chair or Academy staff liaison. They can help you understand the time commitment and what it would be like to join. Initially, I wasn’t sure if I would have much to contribute, but once I joined a committee, I quickly felt comfortable.
My employer was fully on board and recommended volunteering with the Academy. Volunteering has expanded my network, enhanced my speaking and leadership skills, and increased my knowledge about actuarial practice. I believe the time I spent volunteering offers significant value to our employers. Connecting with actuaries outside of our company gives us a chance to learn and share new perspectives. We are also exposed to new and emerging policies and have opportunities to build our skill sets related to public speaking.
Christian Benjaminson, 2020 OVA Recipient
Past Chairperson, Multiemployer Plans Committee
Volunteerism is integral to the Academy’s success and the growth of the actuarial profession. It ensures that the Academy remains a trusted voice among policymakers and reinforces the continued strength of our self-regulated profession.
I started volunteering with the Academy in 2015, at the height of the multiemployer pension crisis. Almost 200 plans covering over 1 million workers were projected to become insolvent because they did not have the money to pay benefits. The Multiemployer Pension Reform Act had been enacted in December 2014, allowing plans to cut benefits or transfer responsibility for part of the benefits to the Pension Benefit Guaranty Corp. (PBGC).
I wanted to become involved because I knew I could help. As a pension actuary who has advised multiemployer pension plans for years, I recognized the need to educate and guide lawmakers and policymakers through this complex process.
Volunteering helped me see the critical role the Academy plays in serving both the public and the actuarial profession. I gained appreciation for the Academy while working with its staff to help policymakers understand key retirement issues in an impartial and effective manner.
It has allowed me to connect with many talented actuaries who work with private and public sector pension plans, as well as those who advise multiemployer plans. I would likely not have developed these relationships without this opportunity. I still maintain contact with many actuaries on the Academy’s Multiemployer Plans Committee to discuss specific issues and share perspectives on new legislation and regulations.
One of the most meaningful projects I worked on during my tenure as chair of the Multiemployer Plans Committee was being part of the work- group that provided comments to the PBGC on the Interim Final Rule for Special Financial Assistance. The committee highlighted important observations about actuarial matters covered by the interim rule and identified areas that needed further clarification. The committee was proud of its efforts to contribute to the final rule, which helped secure pensions for over 1 million participants.
Volunteerism is integral to the Academy’s success and the growth of the actuarial profession. It ensures that the Academy remains a trusted voice among policymakers and reinforces the continued strength of our self-regulated profession.
Volunteers, who bring their unique expertise and perspectives to address complex industry challenges and shape public policy, have an opportunity to collaborate with talented actuaries and contribute to many meaningful projects. It helps them stay connected with the broader actuarial community, learn from others, and develop skills that enhance personal and professional growth.
Volunteering with the Academy has helped me grow in my career. Without participating in the Multiemployer Plans Committee, I would not have had the opportunity to meet lawmakers and their staff and educate them and governmental agencies about the issues. These experiences broadened my technical knowledge and improved my communication skills. Volunteering also enhanced my reputation as a multiemployer pension expert within the actuarial community, among clients, and with my peers.
Cheiron, my employer, supports volunteering for actuarial committees. Many of my colleagues are active in the Academy. This commitment demonstrates our dedication to excellence, industry leadership, and supporting the actuarial profession.
Donna Megregian, 2020 OVA Recipient
Member-Selected Director; Chairperson, Life Products Committee
Volunteering shows that you care about something. It shows others that being an actuary isn’t just my job, but it demonstrates my belief in what the profession can do.
I was encouraged by my employer to start volunteering back in 2007. Once I joined my first workgroup, I found myself enjoying engagement with other members and gaining an understanding of the subject matter through diverse perspectives. I keep volunteering because I feel I want to be a part of a solution. The time I spend within the groups I participate in demonstrates the mission to maintain the profession’s high regard and value by creating solutions.
The most rewarding aspect of my volunteer work has been the people that I have met. I’ve worked with some truly incredible actuaries at the Academy. They are incredible people who share a common goal. I’m not sure that I would have met them otherwise.
The group that I have been connected to the longest is the Academy’s Life Illustrations Subcommittee. This group has worked diligently to address many activities related to illustrations through the development and updating of practice notes. Updating the practice notes is no small task, especially this one. I know many illustration actuaries use these practice notes, and they appreciate the ability to learn from the practices of others. It was such an accomplishment and relief when we were able to update the practice notes following the development of Actuarial Guideline 49.
Volunteerism contributes to the advancement of the Academy. In the areas of public policy and professionalization, the many voices and perspectives of volunteers lead to better work products. These products contribute to the elevation of the Academy as a source of independent, objective, and balanced professional opinions that the public can trust and rely upon.
Volunteering shows that you care about something. It shows others that being an actuary isn’t just my job, but it demonstrates my belief in what the profession can do. I don’t know any other way to advance a cause than to bring together a group of people who share a dedication to the actuarial profession and its impact.
I understand the hesitation and work-life balance concerns when it comes to volunteering. I started small and perhaps you should too. Volunteering grows on you because you make time for what matters— things that make you happy and drive you to do better.
Give volunteering a chance to bring you fulfillment. Not all experiences are the same, but the key is to find the right path for you. We all have good and bad experiences, so keep looking for what works for you.
Volunteering for the Academy has made me a better actuary. I understand concepts better because I had a chance to discuss them with peers who are interested in the same topic. I’ve also been able to develop leadership skills by chairing various groups. Staying silent doesn’t bring about change, you need to speak up, ask a question and listen to others.
If I’m a better actuary, I can perform my job more effectively— that’s the obvious benefit. But employers benefit from the elevation of expertise, as well as the teamwork, leadership, and collaborative skills I’ve developed through volunteering. Supporting volunteering opportunities creates happier employees and likely leads to higher retention rates. Personally, I would struggle to work for another employer that didn’t allow me to participate in these meaningful activities. Feeling valued and supported as a volunteer by my employer builds trust and loyalty to my organization.
Grace Lattyak, 2023 OVA Recipient
Chairperson, Pension Committee; Chairperson, Research Committee
The relationships I have developed with other volunteers are probably the most rewarding part of my volunteer work with the Academy. I have developed meaningful friendships and gained valuable insights from fellow volunteers through our collaborative efforts on projects and during informal conversations, such as dinner after a meeting.
I was motivated to volunteer by a combination of factors: a desire to lend my abilities to support the profession, gain exposure to diverse perspectives, and collaborate with smart people I respect in the industry. Through volunteering, I have gained a much better appreciation of the broad reach of the actuarial profession.
Within my own practice area, I have been able to learn from retirement actuaries doing similar work but offering different perspectives, as well as those working in distinct areas, such as Social Security. This exposure has broadened my understanding of the retirement ecosystem more broadly and how my practice area contributes to that ecosystem.
Beyond my own practice area, it is very encouraging to see how actuaries are working to uphold the high professional standards and provide insights to stakeholders to improve outcomes for people. While a narrow project might focus on an insurance product, climate issues, or health systems, the unifying goal of actuaries is the same: to strengthen financial systems and protect people.
The relationships I have developed with other volunteers are probably the most rewarding part of my volunteer work with the Academy. I have developed meaningful friendships and gained valuable insights from fellow volunteers through our collaborative efforts on projects and during informal conversations, such as dinner after a meeting.
I led a work group tasked with writing an issue brief on the employer experience with pension risk transfers. While I had some experience in the area, the real value came from convening a group of experts from different facets of the process. During the writing process, I learned so much from the other work group members.
As the leader, I had opportunities to share a summary of the issue brief with various stakeholders, participate in webinars, moderate an annual meeting session, and even be interviewed by the press. This experience showed me that you don’t have to be the ultimate expert on a topic to lead a project—what matters is bringing together others with the expertise to contribute. It also highlighted how much interest and respect external stakeholders have for the Academy’s unbiased work. By stepping into this leadership role, I gained leadership, writing, public speaking, and media engagement skills. It has certainly inspired me to take on additional opportunities in the future.
I see volunteerism as core and critical to the advancement of the Academy and our profession. Without volunteers we would not have thought leadership to provide unbiased perspectives to stakeholders, updates to or enforcement of our professional standards, and we won’t be able to educate our members. These are all critical to upholding the reputation of the profession and the Academy.
If you are interested in volunteering, go for it! You don’t have to be the foremost expert in anything, and you don’t have to have unlimited time—you can start with just one project. Obtain your employer’s support by expressing your interest and articulating the value you can bring back, whether it be enhanced knowledge or new skills. When volunteering, be as active as you can—in my experience, that is how you will get the most out of the experience.
From a broad perspective, my leadership skills have benefited greatly through my involvement in various volunteer roles at the Academy. I have had opportunities to lead committees with people who have far more experience, all within an incredibly supportive environment. I have become a better leader by working alongside other leaders I admire, as well as through their direct support and coaching. My knowledge base has expanded greatly. I have a nuanced understanding of some of the ASOPs I’ve contributed to by providing comments and writing practice notes. I have dug into proposed legislation and received a master class on civics and the process through which ideas become bills and ultimately laws. I have heard directly from those working at agencies overseeing retirement plans and I now better understand the reasoning behind the rules. All of this has elevated my ability to perform in my day job at a higher level and provide greater value to those I work with. Aon, my employer, is very supportive of my volunteer efforts, and I believe I bring a lot of value back to Aon though the knowledge and skills I obtain during my time working with the Academy.
Karen Rudolph (retired), 2021 OVA Recipient
Past Co-Chairperson, Life Asset Adequacy Testing Task Force
The most rewarding aspect of my volunteer work with the Academy was the opportunity to be introduced to and come to know the professionals outside of my own firm.
I cannot remember the precise motivation that led me to volunteer with the Academy, but it was likely related to wanting to dive deeper into a particular expertise and my desire to become more engaged with the professionals in my field who were involved in shaping actuarial practice in that area.
The most rewarding aspect of my volunteer work with the Academy was the opportunity to be introduced to and come to know the professionals outside of my own firm. As a result, whenever I had an opportunity to guide younger actuaries, I would encourage them to volunteer with Academy groups when they had the chance, indicating this would broaden their professional net- work and field of expertise.
Helping with ASOPs was always rewarding because the work results in a timeless record of current practices in a particular area.
I believe volunteering plays a key role in keeping the profession “in check.” Understanding the perspectives of professionals from other firms and serving various clients helps volunteers understand the breadth of practices and the range of perspectives.
Volunteering widened my professional network in ways that were otherwise inaccessible to me. What began as an interest in one area of expertise led me to spend a good portion of my career in that area by volunteering within Academy working groups dedicated to it.
Nancy Behrens, 2024 OVA Recipient
Vice President, Professionalism and Education—Academy Board of Directors
My advice to actuaries is to find an area that you are passionate about and pursue an opportunity to be involved there.
My first volunteer role with the Academy was as a member of the ABCD. This was a great opportunity to learn how the discipline process works and to see how the profession responds when actuaries act inappropriately or perform work that does not comply with our Code of Professional Conduct. As an ABCD member, I also had the opportunity to talk with many actuaries who submitted requests for guidance. This deepened my confidence in the profession and raised my respect for individual actuaries willing to raise issues.
I have a passion for the work that actuaries do and for the many ways that we improve the lives of individuals and organizations through our work. I was happy to help in any way that I could, which allowed me to serve in several different areas within professionalism and education.
I have enjoyed meeting actuaries, building my network, and learning about the many different roles that actuaries play within their organizations and as part of the Academy’s volunteer efforts. I enjoy being part of a dedicated and diverse profession.
I like starting new initiatives, so chairing the new Committee on Education was meaningful to me. In the early days of our work, we worked with the Committee on Membership and with the board as we delved into the Competency Framework. We compared the requirements of the Competency Framework to the skills and knowledge that actuaries attain through their associateship courses in the CAS or SOA or via their EA designation. The Competency Framework will become a requirement for all new members on Jan. 1, 2026.
I like the idea that we can now point to the Competency Framework when talking with the public, our employers, regulators, and even non-actuarial professionals to help them understand the skills that actuaries bring to the table, how our professionalism is maintained, and why they can trust the work that actuaries do.
It is critical for the future of the profession that we have different perspectives represented in every aspect of the work of the Academy. Therefore, we need lots of volunteers from every practice area who are willing to contribute their time, energy, and expertise.
My advice to actuaries is to find an area that you are passionate about and pursue an opportunity to be involved there. Volunteering gives you a chance to have a seat at the table as requirements are being developed, and this benefits you and your employer.
I believe that we will have a stronger profession and higher-quality work products when we have diverse sets of ideas on every committee, task force, and council. This is true whether we are responding to new regulations, developing new professionalism requirements, or educating the public on the work of actuaries. This is important for maintaining the reputation the profession currently has and sustaining our self-regulated status as a profession.
Volunteering gave me the opportunity to develop leadership skills, especially concerning communication and influence. It is different to lead in an environment where you are leading volunteers who may have many competing priorities. I honed my communication skills by listening and really trying to understand the views of others, especially those who disagreed with me. We can learn more and create better work products by considering viewpoints different from our own.
Employers benefit from actuaries gaining a broader skill set through volunteering. They also benefit from the additional or early knowledge that volunteers acquire, particularly about new laws, regulations, or actuarial standards.
Susan Kent, 2023 OVA recipient
Vice President, Casualty—Academy Board of Directors
I strongly encourage those interested in volunteering to pursue it, as the experience can be equally rewarding for the individual and the profession.
Once my three children were grown, I found myself with more time to pursue new endeavors. My passion for the actuarial profession and desire to give back while contributing to society led me to volunteer for the newly formed Property and Casualty Equity and Fairness Task Force (now a committee). Having worked on credit-based insurance scoring for many years, I was well-acquainted with both its predictive power and the concerns surrounding its use. It seemed like an ideal starting point for my volunteer work.
Through my volunteer work, I’ve had the opportunity to meet many actuaries who volunteer their time and expertise to inform public policy and advance the profession. Working with these talented individuals has increased my appreciation for the actuarial profession.
The most rewarding aspect of my volunteer work with the Academy was the opportunity to collaborate with other actuaries and Academy staff. I have built relationships with many individuals and learned a lot through committee discussions on various issues.
I deeply appreciate actuaries’ volunteering their time toward a collective effort to inform public policy and enhance the knowledge, skills, and work practices of all actuaries. Through my participation on the Board, I’ve gained a better understanding of the issues and opportunities faced by other actuarial practices, and how issues affecting property and casualty actuaries also impact other areas.
One particularly impactful project involved working with the DC Department of Insurance, Securities, and Banking (DISB) on its initiative to evaluate unintentional bias in private passenger auto insurance. This project allowed me to collaborate with other actuaries, non-actuary mathematicians, and consumer advocates, providing a comprehensive perspective on the issue. We shared our thoughts on the data call specifications and provided comments on the draft report that was issued. The Academy continues to work with DISB on follow-up items.
Volunteerism is essential for the Academy to achieve its mission of serving the public and the U.S. actuarial profession. Actuaries are uniquely positioned to understand the intricacies of risk and insurance issues, and their expertise is invaluable in guiding the use of data and concepts such as credibility that are important for data interpretation. The actuarial profession thrives when its members are motivated to uphold its value and standards. As risk and insurance continue to evolve, it is crucial for actuaries to expand the knowledge available to the profession.
I strongly encourage those interested in volunteering to pursue it, as the experience can be equally rewarding for the individual and the profession. I recommend picking a committee or task force that addresses a subject where you have expertise or an interest as this will make the work more meaningful and fulfilling.
Working for a smaller insurance carrier along with two other credentialed actuaries, I have greatly benefited from hearing the perspectives of actuaries from consulting firms, regulators, and other companies. Volunteering has allowed me to work with seasoned actuaries with diverse work backgrounds, enriching my professional experience. It has also given me many opportunities to enhance my communication and leadership skills.
Employers benefit from encouraging their actuaries to volunteer because they gain when their actuaries are better informed and have broader networks. They also benefit when employees improve their leadership, communication, and other soft skills through volunteering. Supporting personal and professional development increases actuaries’ engagement and loyalty to their employer.
