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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: