WHAT IS YOUR AREA OF EXPERTISE OR PRACTICE AREA?
Health—Medicare Advantage
WHAT LED YOU TO BECOME AN ACTUARY? AND WHAT ATTRACTED YOU TO THE PROFESSION?
I was attracted to the interesting intersection of math skills and business acumen needed for professional success. Businesses need to make a lot of decisions that weigh risk, and the actuarial math skills for which actuaries are relied upon are crucial. I thought that being an actuary would provide stepping-stone opportunities for being valued in important business decisions, which was my true passion. Over time, I have felt like my expertise and value has shifted from a mathematical and technical skills focus earlier in my career to more of a business strategy and big-picture focus.
DESCRIBE A PROFESSIONALISM-RELATED CHALLENGE THAT YOU HAVE FACED IN YOUR CAREER. HOW DID YOU HANDLE IT?
I recall that in my third year at my first job I had just switched roles to an entirely different position within the same company. There were some areas I felt that I could contribute in my new role due to the experience that I had developed, though it was outside of my defined role. In my previous role, it was also outside of the scope of my role, but I enjoyed it—and my input was greatly appreciated. In this new role, there was often red tape in areas where my curiosity and interests led me, and the new role didn’t seem interested in giving me a chance or valuing my opinion quite like my prior one had. Navigating hierarchies was challenging, so I simply responded to this by switching to consulting, and I feel like my opinion, input, and curiosity is very valued now.
WHAT ADVICE DO YOU WISH YOU WERE GIVEN WHEN YOU WERE AT THE BEGINNING OF YOUR CAREER?
Focus on the big picture. If you’re already an actuary, you’ll be fine in life even if you make some mistakes—don’t stress.
TELL US ABOUT A TIME WHERE YOUR ACTUARIAL EXPERTISE INFLUENCED AN IMPORTANT DECISION IN YOUR WORKPLACE.
In my first year as an actuary, I was curious about why we charged a certain proportion of the population differently than other members. There was certainly some logic behind this rating factor, but the factor itself was a very round number, and I questioned whether there was actually any rigor behind it. After finding a general lack of documentation and “blank stares” after asking about the origins of the factor to several more experienced colleagues, I asked my manager if I could spend some time looking into it. I was discouraged from investigating further, as I was told this factor only applied to a small proportion of the population, it was permissible to rate as such within the law, and it logically made sense. I eventually received some approval to poke around, but not to take this curiosity as a top priority.
Upon further investigation, it turns out that this population that we were charging higher premiums to was actually several times more profitable than the general population. The initial logic for why this factor should be higher was very base-level, and did not consider other interacting factors that changed the story. In addition, our factor was an outlier compared to our competitors.
Eventually, this study became my top priority as it reached the executive-level, and the factor was removed entirely, such that this population was no longer being charged 25% more than the general population. It pays to be curious!
WHAT IS ONE OF THE BIGGEST LESSONS YOU’VE LEARNED IN YOUR CAREER?
Be curious. Ask why. A genuine interest in the subject matter, and an appreciation for the big picture, will take you far.
WHAT DO YOU VALUE MOST ABOUT YOUR ACADEMY MEMBERSHIP?
I enjoyed networking with other Academy members at this month’s Envision Tomorrow Annual Meeting. I also value the Code of Professional Conduct, which allows actuaries to maintain a high level of reputation within the profession. The fact that actuaries are self-regulating speaks to the high standards that actuaries are able to maintain through organizations like the Academy, which helps contribute to the development of actuarial standards of practice (ASOPs).
WOULD YOU LIKE TO SHARE ANYTHING ELSE WITH ASPIRING OR NEW ACTUARIES, OR THOSE INTERESTED IN VOLUNTEERING FOR THE ACADEMY?
Passing exams is important, but don’t lose sight of balancing work/study with pursuing interests outside of your actuarial career. While this advice might not help you maximize your career earnings, fulfillment outside of your professional career is important to help you stay grounded and positive when your career hits some bumps or when you have a hard day at work. Actuaries tend to be very hard-working and diligent, so it feels important to keep in mind.
SHARE A LITTLE ABOUT YOURSELF. WHAT ARE SOME OF YOUR HOBBIES OR OTHER PERSONAL INTERESTS?
I love traveling and learning about other cultures and languages. I met my wife in Costa Rica through the app “couch-surfing” where I connected by sending a message in our four mutual languages of interest, and through her, learned Spanish well enough to call it my strongest second language!
