Darryl G. Wagner, FSA 1987, MAAA

Principal & Chief Life Actuary, Deloitte Consulting, LLP, Hartford, CT

Brief description of the type of work you currently do:

Consulting actuary specializing in financial reporting and profitability analysis.

Primary Area of Practice:

Life Insurance

Other Areas of Practice/Interests:

International, Health

Professional Background:

• Started my career at CIGNA in 1985. Moved to Arthur Andersen in 1990 where I became a Partner in 1998. Joined Deloitte in 2002 as a Principal. Currently serve as Chief Life Actuary for our US actuarial practice. Areas of specialty include:
• financial reporting and controls,
• mergers and acquisitions,
• tax–related asset valuation,
• reinsurance transactions and operations, and
• policyholder protection structures.
• Significant international experience–have served clients on 6 continents.

Volunteer Experience:

• Former E&E committee member.
• Contributor to The Financial Reporter, The Actuary, and Life & Health Advisor.
• Participant on AICPA task force on accounting for demutualization.
• Frequent presenter at SOA Spring and Annual meetings, Valuation Actuary Symposiums, and other meetings including most recently at ReFocus 2009.
• SOA Basic GAAP Seminar presenter, 2004, 2005, and 2007.
• Presenter at 2006 US GAAP seminar held in Mudianjiang, China and sponsored by the Chinese regulatory authority.
• Member of SOA Task Force to evaluate International Actuarial Association (IAA) proposals relating to International Financial Reporting Standards (IFRS).
• International Section Council 2007–present, Treasurer and Vice–Chair.
• SOA International US GAAP Seminar presenter, 2008.
• SOA delegate to the IAA Supranational Relations Committee 2008–present.

Vision Statement:

A major challenge facing the actuarial profession is globalization. Our employers increasingly are global organizations, and the substance of our work is often global or influenced by standards and practices in other parts of the world. Current examples include financial reporting (IFRS) and capital management (Solvency II). This is significant for the SOA in particular in that it is increasingly important for us to provide support to our members around global issues and to participate as a good citizen in what is increasingly a global actuarial profession. I believe the SOA should address globalization in several ways. First, our strategic plan should include more explicit international strategic direction. While the current strategy contemplates the international dimension of each of its initiatives, it does not specifically address the direction and execution of that strategy internationally. Secondly, I believe the SOA should undertake a more proactive import/export program, under which we import to our "domestic" members relevant and meaningful information and experiences from outside North America, and, in turn, export information outside North America. Finally, I recommend that we clarify our strategy with respect to the actuarial professions in countries around the world, especially in countries with significant SOA membership. Are we competing with these professions for members? Helping them to develop? Providing them resource and support either long term or while they develop? If elected, I will encourage the Board to address these questions and develop strategies and policies that benefit SOA members and the global actuarial profession.