May 17, 2012
Marriott, Rocky Hill, CT
AGENDA
Optional Morning Session A: (9:15 - 11:15)
Speed Networking (Sponsored by the Actuary of the Future Section)
This session will provide an opportunity for actuaries to network with fellow actuaries to establish new relationships and further develop business connections. Speed Networking is conducted in a fashion similar to speed dating. Attendees are first paired and then rotated to a new partner every 5 minutes. Each attendee will receive a list of all workshop attendees, with their contact information (phone, email, company) as provided in the registration form. This will allow attendees to network with many other participants over the course of the session.
For the past 26 years, Pauline Reimer, ASA, MAAA, has directed the Actuarial Placement Division of Pryor Associates Executive Search, which serves insurance/reinsurance (life/health and property/casualty), pension/employee benefits, and investment-related industries. Pauline's professional credentials are enhanced by nearly a decade of actuarial employment in insurance and consulting firms, as well as her appointments to the SoA's inaugural Advisory Panel and Entrepreneurial Actuaries Section Council, the Executive Board of ASNY (Actuarial Society of Greater New York), the Casualty Actuarial Society as its premier Platinum Partner, and the Advisory Boards of both Columbia University's MS in Actuarial Science program and New York University's BS in Actuarial Science program. Her participation at national actuarial conferences (a minimum of 15-20 annually) further enhances her familiarity with the evolving responsibilities of the professional actuary in the current and anticipated business environment. Her motto, "It Takes One to Know One... An Actuary Placing Actuaries," describes this best.
Optional Morning Session B: (10:00 - 11:15)
Baseball: It's All in The Data
The session will focus on the increasing use of statistics and analysis to improve performance in baseball, particularly on revealing the strengths and weaknesses in defense. The concepts discussed directly relate to the practice of business analytics, which was highlighted in the February/March 2012 edition of The Actuary.
Twenty-five years ago, just five years after receiving his FSA, John Dewan left a highly successful career as an insurance actuary to pursue a life-long dream, the development of the most timely and comprehensive computer database in sports. The fulfillment of that dream was Sports Team Analysis and Tracking Systems, Inc., or STATS, Inc. John's new company is Baseball Info Solutions (BIS), which collects, analyzes and disseminates the most in-depth data in the industry. John is also the co-publisher of ACTA Sports, a division of ACTA Publications, which publishes books on statistical baseball analysis, including the annual Bill James Handbook and other sports titles. John has authored three books, including The Fielding Bible - Volume III. John graduated from Loyola University with a B.S. in Mathematics and Computer Science. He lives in Chicago with his wife Sue and their two children, Jason and Erica.
Luncheon General Session: (11:45 - 1:15)
Beyond The Numbers - The Interpersonal Side of Finance
Cliff will be sharing exciting ways to leverage your already strong technical skills with vital interpersonal skills. This can make for a dynamic combination of skills to help your career trajectory. He will openly share lessons he learned by trial and error over three plus decades, with the hope that you don't have to learn any of them the hard way.
Clifford A. Lange, FSA, MAAA currently serves as Vice President and Chief Financial Officer, Chief Actuary and CRO at Boston Mutual Life Insurance Company. He is responsible for financial reporting, financial planning, budget, pricing, reserving, experience studies, taxes, treasury, payroll and projections, and is Chairman of the Enterprise Risk Management (ERM) Committee. Cliff received a BS in Mathematics/Actuarial Science from the University of Connecticut, is a Fellow, Life Management Institute, and a Chartered Life Underwriter.
Actuaries Club of Hartford Business Meeting
Breakout Session 1: (1:40 - 2:30)
A: Impact of Medical Loss Ratio Regulations/Exchanges
This session is a panel discussion that consists of state insurance regulators. The topics will cover an update on health care reform and the impact to states, such as the impacts of Medical Loss Ratio Regulations and health insurance exchanges.
David Sky is the Life, Accident and Health Actuary with the New Hampshire Insurance Department. His primary responsibilities include rate review and approval. Before joining the Department, he worked at John Hancock Life.
Paul Lombardo, ASA, MAA has been the Insurance Actuary for the Life & Health Division of the Connecticut Insurance Department for the past 15 years. He is responsible for reviewing all rate filings submitted to the Life & Health Division as well as reviewing and implementing any changes that may have a future impact on premium rates. This includes a thorough review and analysis of all state and federal legislation including PPACA. Prior to the regulatory work, Paul worked in the private sector health care arena for nine years in various actuarial units.
B: Fixed Index Annuities Reserving
FIA contracts (a.k.a. equity indexed annuities) have features of traditional fixed annuities, but because they offer indexed options they present complexities in reserving that are not present in the traditional products. Also, it has become popular in recent years to offer guaranteed living withdrawal benefit (GLWB) riders with these products. This session will discuss the statutory and GAAP reserving aspects of these contracts, including approaches to reserving for the riders and dealing with premium bonuses. Both separate account and general account products will be discussed.
Terry Boucher, FSA, MAAA is currently a 2nd Vice President and Actuary at Phoenix Life Insurance Company, where he is the valuation actuary for annuity products, including variable, fixed, fixed indexed, and payout annuities. He is responsible for annuity reserve calculation, financial reporting, and earnings analysis. Terry has been in financial reporting positions over the last 20 years with Phoenix, ING, and Aetna.
C: Overview of the Enterprise Risk Management Framework at Munich Re
Topics include the Overall Risk Strategy; Components of the ERC model; as well as some Recent ERM Results at Munich Re.
Tony Green FSA, CERA, MAAA, MS, M.Phil, is Vice President & ALM Officer at Integrated Risk Management (Munich Re, North America). Tony holds an MS degree in Financial Economics, as well as an Master of Philosophy (MPhil) in Policy Analysis. Prior to joining MARC in June 2010, he worked in various Research, Risk Management and Investment roles spanning more than 15 years. His former companies include RAND (Think Tank), GE Financial, Genworth Financial and Aviva USA. Immediately prior to joining Munich Re he was a Vice President with Aviva USA. Tony is responsible for the implementation of the Risk Management framework and the smooth execution of the day to day activities in Munich Re's Life Operations in the US and Canada. As the ALM Officer (for Munich American Reassurance Company, MARC), he also oversees the development and implementation of the Liability Driven Investment strategy being employed to manage the ALM risk.
D: Are We There Yet? The Path to Pension Plan Termination
Sponsors prefer the sign "NO ENTRANCE" to the sign that says "NO EXIT". Once a sponsor makes the decision to freeze their pension plan, now what? This session will highlight some of the current de-risking and exit strategies along the pathway toward ultimately terminating the plan.
As a Vice President, Intellectual Capital, Kenneth J. Verzella serves as an investment subject matter expert to Prudential's national Key Account Teams, and also supports new business development. Ken earned a BS in Business Administration from Bryant University and an MBA in Finance and International Management from Northeastern University. He also holds FINRA Series 6, 7, 63, an Accredited Investment Fiduciary, and a CFA Level II candidate.
Donald E. Widger, FSA, MAAA, EA is a Director & Consulting Actuary within Prudential's Retirement Plan Strategies group, and provides actuarial consulting services to a number of defined benefit plan sponsors. He also serves as the current director of Prudential’s Plan Termination Services Team. Don attended Bryant University where he earned a B.A. in Applied Actuarial Mathematics.
Breakout Session 2: (3:00 - 3:50)
A: Consumer Engagement and Payment Reform
Consumer driven health plans have been in the marketplace for several years. What are the latest trends in this field? Rising health care costs are of great concern to employers and consumers of medical services. What are carriers doing to address these concerns? This panel discussion will provide an overview of these topics, including strategies carriers and self-funded employers are using to address rising health care costs and considerations that need to be addressed when designing health plans to engage consumers.
Joan Barrett, FSA, MAAA is Vice President and Actuary at UnitedHealthcare. In that role, she is responsible for providing actuarial expertise to UnitedHealthcare's largest employer groups and developing pricing tools to support their requests. She is also on the Board of Directors of the Society of Actuaries and is an active volunteer for many Society of Actuaries' committees and sections including the Health Section and Education Committee.
Thea Cardamone, FSA, MAAA is Pricing Director & Actuary, Actuarial Services at UnitedHealthcare. In that role, she is responsible for developing pricing tools for new products, focusing on the small group and mid-sized employer markets. Thea has over 20 years experience in various roles related to pricing group products. She is a former president of the Actuaries' Club of Hartford and Springfield.
B: Hedging Variable Annuity Guarantees in the Current Environment
Variable Annuities have received a lot of attention in the last few years from market participants, regulators and policyholders alike. Companies issuing VA guarantees are now facing an environment of increased market volatility and low interest rates in addition to heightened scrutiny from regulators, rating agencies and capital market analysts. This presentation will discuss the challenges faced by VA Guarantee hedgers in this current environment and approaches that can be used to mitigate those risks.
Regynald Heurtelou is Vice-President & Actuary within the Asset Liability Management organization of FRM. Regy is responsible for the ongoing development and management of MetLife's global Variable Annuity Hedging program. Regy has 17 years of experience in the industry. In his current role, Regy oversees the hedging program for both Domestic VAs and International VAs. This includes the determination of and reporting on our risk profiles, working with investments on hedging instruments and their performance, structuring third party reinsurance arrangements with traditional reinsurers and investment banks, as well as working with our accountants on the appropriate treatment for our VA guarantees.
C: Update on AG38 and Principle Based Reserving
This session will provide an update on AG38 and the Principle Based Reserving activity in the Life Insurance arena.
Jeffrey Johnson, FSA, MAAA, is an Assistant Vice President with John Hancock Financial Services in Boston, MA. Jeff works in the Corporate Actuarial and Risk Management area and is involved in actuarial policy, reserving, capital management, and reinsurance issues. His current role also requires that he closely follow statutory regulatory activity impacting actuarial practice or company profitability. Jeff's career experience includes product development, risk management and financial reporting roles at several Fortune 500 insurance companies. Jeff has been involved in American Academy of Actuaries activities since 2010. He currently serves as the Academy's chair of the Invested Asset Working Group, and Young Actuaries Committee. Jeff is also actively involved with the American Council of Life Insurers as chair of the Separate Account Working Group and a member of several work groups dealing with issues surrounding principle-based approaches for reserves and risk-based capital. Jeff has a B.A. in Mathematics from Western New England University in Springfield Massachusetts and an M.S. in Numerical Methods form Syracuse University, in Syracuse New York.
D: Smooth Sailing: Ensuring a Successful Pension Plan Termination
A consultant and an insurer discuss how to optimize the defined benefit plan termination process. They will provide suggestions for facilitating the process, from the preplanning meetings through the post termination activities. Their goal is to enable you to be better prepared to assist your clients as they begin to plan for and then execute a standard plan termination. Topics will include preplanning "must haves" (including accurate data, a realistic estimate of the economic liability, and reasonable expectations - on everyone's part!) all the way to what to expect with a PBGC audit, based on their experiences. Focus is on understanding the participant data needed before you get started and gaining a better understanding of the process of annuity bids and ultimate cost of the plan termination.
Tom Toale is an Assistant Vice President with the U.S. Pensions Solutions and Structuring team at MetLife. In this role he works with clients and prospects as well as consultants and other advisors to help them more fully understand various risk reduction methods that are available to Defined Benefit plans. He also is the author of several of MetLife's "Topics in Pension Risk Management" articles. Tom has worked with qualified pension plans and institutional annuity products for over 35 years. He joined MetLife in 2008 after nearly 20 years with Aon Investment Consulting. He is a frequent speaker at industry seminars and co-author of several articles and white papers covering a range of topics dealing with pension risk solutions. Tom received his BA Magna Cum Laude from Boston College and an MBA from Georgia State University. He is a member of the CFA Society of Philadelphia and the CFA Institute.
Lisa Larson, ASA, EA, is a consulting actuary with the Hartford, Connecticut office of Milliman. She joined the firm in 2005. Lisa has more than 25 years of experience working in the benefits field as an actuary and consultant, assisting companies with the design and administration of their defined benefit plans, both qualified and non-qualified. She also consults with clients on various retirement issues, including funding, accounting, compliance, communications, and the design of both defined benefit and defined contribution plans. Prior to joining Milliman, Lisa spent 13 years as an in-house corporate actuary for EDS (now HP), involved in all types of benefit plans, both domestically and internationally.
Afternoon General Session: (4:00 - 5:00)
Being A Professional - Lessons Learned Over a 35 Year Career
Bradley M. Smith, FSA, MAAA joined Milliman, in April 1986 to open the life/health practice in Dallas. His practice involved all aspects of life and health insurance including insurance industry mergers and acquisitions, product pricing and financial statement preparation. He served as a member of Milliman's Board of Directors from May 1996 to May 1999. In May 2000 he was elected to the position of Chairman of Milliman, and continues to serve in that capacity.
Brad has served as vice president and president-elect of the Society of Actuaries. He has also been an elected section council member of the following SOA sections: Financial Reporting, Marketing & Distribution, and Product Development. Brad also served as a member of the SOA's Board of Governors, Director of Publications and chairman of the SOA's 50th Anniversary Celebration. Brad currently serves as an Emeritus Trustee of the Actuarial Foundation.
An author of many articles and papers, Brad has been a frequent speaker at a variety of meetings. He has spoken to college audiences at the University of Illinois, University of Washington, Waterloo University and the University of Wisconsin on what it means to be a professional, which is the theme of his 2010 book, What Do You Think? Preparing for the Question That All Clients Ask. He has traveled internationally and has spoken to other professionals, government officials and company executives throughout the United States as well as China, the United Kingdom, Canada, France, Australia, New Zealand, Singapore, India, Spain, Italy, Austria and Germany. In 2009 and 2010, Brad was named to Insurance Newscast's list of the 100 Most Powerful People in the North American Insurance Industry. Brad graduated from the University of Illinois in 1977 with highest distinction.
Marriott, Rocky Hill, CT
AGENDA
Optional Morning Session A: (9:15 - 11:15)
Speed Networking (Sponsored by the Actuary of the Future Section)
This session will provide an opportunity for actuaries to network with fellow actuaries to establish new relationships and further develop business connections. Speed Networking is conducted in a fashion similar to speed dating. Attendees are first paired and then rotated to a new partner every 5 minutes. Each attendee will receive a list of all workshop attendees, with their contact information (phone, email, company) as provided in the registration form. This will allow attendees to network with many other participants over the course of the session.
For the past 26 years, Pauline Reimer, ASA, MAAA, has directed the Actuarial Placement Division of Pryor Associates Executive Search, which serves insurance/reinsurance (life/health and property/casualty), pension/employee benefits, and investment-related industries. Pauline's professional credentials are enhanced by nearly a decade of actuarial employment in insurance and consulting firms, as well as her appointments to the SoA's inaugural Advisory Panel and Entrepreneurial Actuaries Section Council, the Executive Board of ASNY (Actuarial Society of Greater New York), the Casualty Actuarial Society as its premier Platinum Partner, and the Advisory Boards of both Columbia University's MS in Actuarial Science program and New York University's BS in Actuarial Science program. Her participation at national actuarial conferences (a minimum of 15-20 annually) further enhances her familiarity with the evolving responsibilities of the professional actuary in the current and anticipated business environment. Her motto, "It Takes One to Know One... An Actuary Placing Actuaries," describes this best.
Optional Morning Session B: (10:00 - 11:15)
Baseball: It's All in The Data
The session will focus on the increasing use of statistics and analysis to improve performance in baseball, particularly on revealing the strengths and weaknesses in defense. The concepts discussed directly relate to the practice of business analytics, which was highlighted in the February/March 2012 edition of The Actuary.
Twenty-five years ago, just five years after receiving his FSA, John Dewan left a highly successful career as an insurance actuary to pursue a life-long dream, the development of the most timely and comprehensive computer database in sports. The fulfillment of that dream was Sports Team Analysis and Tracking Systems, Inc., or STATS, Inc. John's new company is Baseball Info Solutions (BIS), which collects, analyzes and disseminates the most in-depth data in the industry. John is also the co-publisher of ACTA Sports, a division of ACTA Publications, which publishes books on statistical baseball analysis, including the annual Bill James Handbook and other sports titles. John has authored three books, including The Fielding Bible - Volume III. John graduated from Loyola University with a B.S. in Mathematics and Computer Science. He lives in Chicago with his wife Sue and their two children, Jason and Erica.
Luncheon General Session: (11:45 - 1:15)
Beyond The Numbers - The Interpersonal Side of Finance
Cliff will be sharing exciting ways to leverage your already strong technical skills with vital interpersonal skills. This can make for a dynamic combination of skills to help your career trajectory. He will openly share lessons he learned by trial and error over three plus decades, with the hope that you don't have to learn any of them the hard way.
Clifford A. Lange, FSA, MAAA currently serves as Vice President and Chief Financial Officer, Chief Actuary and CRO at Boston Mutual Life Insurance Company. He is responsible for financial reporting, financial planning, budget, pricing, reserving, experience studies, taxes, treasury, payroll and projections, and is Chairman of the Enterprise Risk Management (ERM) Committee. Cliff received a BS in Mathematics/Actuarial Science from the University of Connecticut, is a Fellow, Life Management Institute, and a Chartered Life Underwriter.
Actuaries Club of Hartford Business Meeting
Breakout Session 1: (1:40 - 2:30)
A: Impact of Medical Loss Ratio Regulations/Exchanges
This session is a panel discussion that consists of state insurance regulators. The topics will cover an update on health care reform and the impact to states, such as the impacts of Medical Loss Ratio Regulations and health insurance exchanges.
David Sky is the Life, Accident and Health Actuary with the New Hampshire Insurance Department. His primary responsibilities include rate review and approval. Before joining the Department, he worked at John Hancock Life.
Paul Lombardo, ASA, MAA has been the Insurance Actuary for the Life & Health Division of the Connecticut Insurance Department for the past 15 years. He is responsible for reviewing all rate filings submitted to the Life & Health Division as well as reviewing and implementing any changes that may have a future impact on premium rates. This includes a thorough review and analysis of all state and federal legislation including PPACA. Prior to the regulatory work, Paul worked in the private sector health care arena for nine years in various actuarial units.
B: Fixed Index Annuities Reserving
FIA contracts (a.k.a. equity indexed annuities) have features of traditional fixed annuities, but because they offer indexed options they present complexities in reserving that are not present in the traditional products. Also, it has become popular in recent years to offer guaranteed living withdrawal benefit (GLWB) riders with these products. This session will discuss the statutory and GAAP reserving aspects of these contracts, including approaches to reserving for the riders and dealing with premium bonuses. Both separate account and general account products will be discussed.
Terry Boucher, FSA, MAAA is currently a 2nd Vice President and Actuary at Phoenix Life Insurance Company, where he is the valuation actuary for annuity products, including variable, fixed, fixed indexed, and payout annuities. He is responsible for annuity reserve calculation, financial reporting, and earnings analysis. Terry has been in financial reporting positions over the last 20 years with Phoenix, ING, and Aetna.
C: Overview of the Enterprise Risk Management Framework at Munich Re
Topics include the Overall Risk Strategy; Components of the ERC model; as well as some Recent ERM Results at Munich Re.
Tony Green FSA, CERA, MAAA, MS, M.Phil, is Vice President & ALM Officer at Integrated Risk Management (Munich Re, North America). Tony holds an MS degree in Financial Economics, as well as an Master of Philosophy (MPhil) in Policy Analysis. Prior to joining MARC in June 2010, he worked in various Research, Risk Management and Investment roles spanning more than 15 years. His former companies include RAND (Think Tank), GE Financial, Genworth Financial and Aviva USA. Immediately prior to joining Munich Re he was a Vice President with Aviva USA. Tony is responsible for the implementation of the Risk Management framework and the smooth execution of the day to day activities in Munich Re's Life Operations in the US and Canada. As the ALM Officer (for Munich American Reassurance Company, MARC), he also oversees the development and implementation of the Liability Driven Investment strategy being employed to manage the ALM risk.
D: Are We There Yet? The Path to Pension Plan Termination
Sponsors prefer the sign "NO ENTRANCE" to the sign that says "NO EXIT". Once a sponsor makes the decision to freeze their pension plan, now what? This session will highlight some of the current de-risking and exit strategies along the pathway toward ultimately terminating the plan.
As a Vice President, Intellectual Capital, Kenneth J. Verzella serves as an investment subject matter expert to Prudential's national Key Account Teams, and also supports new business development. Ken earned a BS in Business Administration from Bryant University and an MBA in Finance and International Management from Northeastern University. He also holds FINRA Series 6, 7, 63, an Accredited Investment Fiduciary, and a CFA Level II candidate.
Donald E. Widger, FSA, MAAA, EA is a Director & Consulting Actuary within Prudential's Retirement Plan Strategies group, and provides actuarial consulting services to a number of defined benefit plan sponsors. He also serves as the current director of Prudential’s Plan Termination Services Team. Don attended Bryant University where he earned a B.A. in Applied Actuarial Mathematics.
Breakout Session 2: (3:00 - 3:50)
A: Consumer Engagement and Payment Reform
Consumer driven health plans have been in the marketplace for several years. What are the latest trends in this field? Rising health care costs are of great concern to employers and consumers of medical services. What are carriers doing to address these concerns? This panel discussion will provide an overview of these topics, including strategies carriers and self-funded employers are using to address rising health care costs and considerations that need to be addressed when designing health plans to engage consumers.
Joan Barrett, FSA, MAAA is Vice President and Actuary at UnitedHealthcare. In that role, she is responsible for providing actuarial expertise to UnitedHealthcare's largest employer groups and developing pricing tools to support their requests. She is also on the Board of Directors of the Society of Actuaries and is an active volunteer for many Society of Actuaries' committees and sections including the Health Section and Education Committee.
Thea Cardamone, FSA, MAAA is Pricing Director & Actuary, Actuarial Services at UnitedHealthcare. In that role, she is responsible for developing pricing tools for new products, focusing on the small group and mid-sized employer markets. Thea has over 20 years experience in various roles related to pricing group products. She is a former president of the Actuaries' Club of Hartford and Springfield.
B: Hedging Variable Annuity Guarantees in the Current Environment
Variable Annuities have received a lot of attention in the last few years from market participants, regulators and policyholders alike. Companies issuing VA guarantees are now facing an environment of increased market volatility and low interest rates in addition to heightened scrutiny from regulators, rating agencies and capital market analysts. This presentation will discuss the challenges faced by VA Guarantee hedgers in this current environment and approaches that can be used to mitigate those risks.
Regynald Heurtelou is Vice-President & Actuary within the Asset Liability Management organization of FRM. Regy is responsible for the ongoing development and management of MetLife's global Variable Annuity Hedging program. Regy has 17 years of experience in the industry. In his current role, Regy oversees the hedging program for both Domestic VAs and International VAs. This includes the determination of and reporting on our risk profiles, working with investments on hedging instruments and their performance, structuring third party reinsurance arrangements with traditional reinsurers and investment banks, as well as working with our accountants on the appropriate treatment for our VA guarantees.
C: Update on AG38 and Principle Based Reserving
This session will provide an update on AG38 and the Principle Based Reserving activity in the Life Insurance arena.
Jeffrey Johnson, FSA, MAAA, is an Assistant Vice President with John Hancock Financial Services in Boston, MA. Jeff works in the Corporate Actuarial and Risk Management area and is involved in actuarial policy, reserving, capital management, and reinsurance issues. His current role also requires that he closely follow statutory regulatory activity impacting actuarial practice or company profitability. Jeff's career experience includes product development, risk management and financial reporting roles at several Fortune 500 insurance companies. Jeff has been involved in American Academy of Actuaries activities since 2010. He currently serves as the Academy's chair of the Invested Asset Working Group, and Young Actuaries Committee. Jeff is also actively involved with the American Council of Life Insurers as chair of the Separate Account Working Group and a member of several work groups dealing with issues surrounding principle-based approaches for reserves and risk-based capital. Jeff has a B.A. in Mathematics from Western New England University in Springfield Massachusetts and an M.S. in Numerical Methods form Syracuse University, in Syracuse New York.
D: Smooth Sailing: Ensuring a Successful Pension Plan Termination
A consultant and an insurer discuss how to optimize the defined benefit plan termination process. They will provide suggestions for facilitating the process, from the preplanning meetings through the post termination activities. Their goal is to enable you to be better prepared to assist your clients as they begin to plan for and then execute a standard plan termination. Topics will include preplanning "must haves" (including accurate data, a realistic estimate of the economic liability, and reasonable expectations - on everyone's part!) all the way to what to expect with a PBGC audit, based on their experiences. Focus is on understanding the participant data needed before you get started and gaining a better understanding of the process of annuity bids and ultimate cost of the plan termination.
Tom Toale is an Assistant Vice President with the U.S. Pensions Solutions and Structuring team at MetLife. In this role he works with clients and prospects as well as consultants and other advisors to help them more fully understand various risk reduction methods that are available to Defined Benefit plans. He also is the author of several of MetLife's "Topics in Pension Risk Management" articles. Tom has worked with qualified pension plans and institutional annuity products for over 35 years. He joined MetLife in 2008 after nearly 20 years with Aon Investment Consulting. He is a frequent speaker at industry seminars and co-author of several articles and white papers covering a range of topics dealing with pension risk solutions. Tom received his BA Magna Cum Laude from Boston College and an MBA from Georgia State University. He is a member of the CFA Society of Philadelphia and the CFA Institute.
Lisa Larson, ASA, EA, is a consulting actuary with the Hartford, Connecticut office of Milliman. She joined the firm in 2005. Lisa has more than 25 years of experience working in the benefits field as an actuary and consultant, assisting companies with the design and administration of their defined benefit plans, both qualified and non-qualified. She also consults with clients on various retirement issues, including funding, accounting, compliance, communications, and the design of both defined benefit and defined contribution plans. Prior to joining Milliman, Lisa spent 13 years as an in-house corporate actuary for EDS (now HP), involved in all types of benefit plans, both domestically and internationally.
Afternoon General Session: (4:00 - 5:00)
Being A Professional - Lessons Learned Over a 35 Year Career
Bradley M. Smith, FSA, MAAA joined Milliman, in April 1986 to open the life/health practice in Dallas. His practice involved all aspects of life and health insurance including insurance industry mergers and acquisitions, product pricing and financial statement preparation. He served as a member of Milliman's Board of Directors from May 1996 to May 1999. In May 2000 he was elected to the position of Chairman of Milliman, and continues to serve in that capacity.
Brad has served as vice president and president-elect of the Society of Actuaries. He has also been an elected section council member of the following SOA sections: Financial Reporting, Marketing & Distribution, and Product Development. Brad also served as a member of the SOA's Board of Governors, Director of Publications and chairman of the SOA's 50th Anniversary Celebration. Brad currently serves as an Emeritus Trustee of the Actuarial Foundation.
An author of many articles and papers, Brad has been a frequent speaker at a variety of meetings. He has spoken to college audiences at the University of Illinois, University of Washington, Waterloo University and the University of Wisconsin on what it means to be a professional, which is the theme of his 2010 book, What Do You Think? Preparing for the Question That All Clients Ask. He has traveled internationally and has spoken to other professionals, government officials and company executives throughout the United States as well as China, the United Kingdom, Canada, France, Australia, New Zealand, Singapore, India, Spain, Italy, Austria and Germany. In 2009 and 2010, Brad was named to Insurance Newscast's list of the 100 Most Powerful People in the North American Insurance Industry. Brad graduated from the University of Illinois in 1977 with highest distinction.