June 2024 SOA Board of Directors Meeting Recap

The Society of Actuaries (SOA) Board of Directors (Board) met in Baltimore, MD, June 22–23 to strategize and address key business initiatives. Topics included the refresh of the SOA strategic plan, artificial intelligence (AI) and its impact on the actuarial profession, growing the pipeline of actuarial candidates and members, and the evolution of the SOA’s professional interest sections.

Strategic Plan Refresh: Throughout the year, the Board has been actively discussing the shape of the SOA Strategic Plan beyond 2024. This ongoing dialogue is centered around core strategies and initiatives that will propel the organization and profession forward.

Impact of AI: AI presents a broad array of opportunities and risks that could significantly alter the actuarial landscape. The Board discussed the possible integration of AI into the SOA’s core functions, aiming to better educate candidates, enhance member expertise, and foster research and partnerships that keep pace with AI advancements.

Candidate and Member Pipeline: To strengthen the actuarial candidate pipeline, the Board explored ways to enhance awareness of the profession, adapt educational content to meet evolving skills demands, and tailor initiatives to diverse markets. Key factors to maintain relevance in an ever-changing market were also considered.

Professional Interest Sections: The SOA aims to provide members with the best resources possible through the evolution of professional interest sections. More details on sections will be announced early in 2025.