C. Ian Genno, FSA 1988, FCIA

Principal, Towers Perrin, Toronto, ON

Brief description of the type of work you currently do:

Management consulting, focusing on pensions, benefits, investments, employee communication, and related risk management. Experience developing and managing client relationships, professional staff and intellectual capital.

Primary Area of Practice:

Retirement Systems

Other Areas of Practice/Interests:

Health Benefits Systems, International Issues, Investments, Research, Risk Management

Professional Background:

With 25 years of diverse experience in actuarial practice–and 13 years of experience as a Board member in a not–for–profit organization–if you offer me your vote, I'm confident I can make a meaningful contribution on your behalf on the Society of Actuaries Board. Professionally–both through business activities and volunteer work for the SOA–I have experience leading teams, managing projects, and developing and leveraging intellectual capital. I've had great opportunities to work with clients and colleagues in the US, Canada, Europe, Latin America and Australia, gaining a broad perspective. And I have a passion for our profession. I turned down medical school to become an actuary, and am one of four actuaries in my family who've worked in various areas of practice. Like you, I'm committed to seeing our profession thrive.

Volunteer Experience:

From experience, I know what it takes to commit the time, energy and enthusiasm necessary to succeed in a volunteer role. I've learned how to balance and deliver on business, volunteer and personal commitments. Our profession is important to me–so I've taken advantage of the opportunity to volunteer in many SOA roles over the last 20 years, including:

• Chairing the Pension Section Research Committee (2007–present; committee member since 2005);
• Participating on the Board's "Cultivate Opportunities" Team (2008–present);
• Participating on the Board's Marketplace Relevance Strategic Action Team (2005–2008);
• Co–Chairing the Pension Section Council (2003–2004), and participating actively in the Council of Section Chairs (2002–2004);
• Contributing as a member of the Pension Section Council (2001–2004, and 2007–present);
• Participating in several pension–and risk management–related research project oversight groups (from 2002 onward);
• Helping organize educational and research–related conferences, webcasts and a symposium (from 2002 onward);
• Working on the E&E Committee, both as an exam committee member and a course content officer (1989–1996); and
• Contributing to other ad hoc working groups (to conduct a strategic review of the Society's marketing and market development plan; to identify new opportunities for DB pension actuaries; participating on the Experience Studies Advisory Group; etc.).

I'm also a member of the Ontario Regional Council of the ACPM (2000–present). And, within the community, I've volunteered as a Board member of a government–funded organization in the healthcare and counseling field since 1996.

Vision Statement:

The actuarial profession currently faces several major challenges. At the same time, these challenges present opportunities for us. One challenge at the top of my mind is pensions.
At the time I'm writing this, not a day goes by without pension issues hitting the mainstream press. Increased funding costs for employers ... concerns about whether employees can afford to retire ... inadequate coverage for many members of society ... uncertainty about the financial viability of plans ...

Even if equity market conditions–that have dramatically thrown pensions into the public spotlight in 2008 and 2009–turn around in the near–to mid–term future, the underlying challenges will still remain.

• From a societal perspective, how do we achieve better coverage?
• From an individual perspective, how do we set aside adequate assets–and protect those assets against investment, inflation and longevity risk?
• From an employer perspective, how do we manage the risks–real and perceived–of sponsoring retirement plans?
• From a market perspective, how do we foster innovative new products and solutions?
• From our profession's perspective, what initiatives should we take?

Actuaries should be at the forefront of this debate–not just on technical compliance and funding issues, but on fundamental new initiatives to build a sustainable retirement model for the 21st century. The Pension Section's ground-breaking "Retirement 20/20" initiative, which I've contributed to through the Section Council and Research Committee, is a critical strategic opportunity–and is one example of the type of initiative in various practice areas that must receive Board funding, leadership and support.