Professional Service

Mike McLaughlin

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Professional Service

I believe my long experience volunteering with the Society of Actuaries makes me extremely well qualified to serve as President-Elect and as President. In particular, I already play key roles in our organization as a member of the Leadership Team and in advancing the science of Enterprise Risk Management. As President-Elect I will continue to expand the influence and scope of the Society of Actuaries.

I'll mention one specific contribution I've made to the profession, namely, helping to create the CERA credential. Introduced in July 2007, the CERA will become the world's best recognized professional credential in enterprise risk management. It's already recognized by 12 more actuarial organizations around the world!

For more information follow this link to www.ceranalyst.org.

Key professional volunteer roles:

Vice President, Secretary & Treasurer, Society of Actuaries 2006 - 2008

Selected by Leadership Team as Secretary & Treasurer, 2006-07, reselected 2007-08

Member of Leadership Team

Leadership Team comprises President-Elect, President, Past President, Penultimate Past President, Treasurer, and Executive Director; it meets weekly to conduct the business of the SOA between Board meetings

	Over the last 20 months or so I have worked closely with Steve Kellison, Bob Beuerlein, Ed Robbins, Bruce Schobel, Cecil Bykerk, Greg Heidrich and Stacy Lin on the Leadership Team.
	I have dealt in detail with numerous decisions around basic education, continuing education, research, legal matters, financials, operations, staff, international issues, academia, and relationships with other professional bodies. My fellow Board members have greatly appreciated the contributions I've made to the Leadership Team, the Board and the SOA in general.

Chair, Finance Committee

	Reduced SOA expenses by cutting consulting fees
	Held dues constant for 2008; hoping to do the same for 2009
	Worked with staff extensively on budgets and finance policies. The committee updated finance policies relating to contracting, check approval and other controls. I have looked at expenses in all areas to try to maintain or reduce costs to members wherever possible.

Chair, Admissions Committee

Reviewed admissions to SOA as CERA, Associate and Fellow. Also reviewed reinstatements, requests for dues or exam waivers, and resignations. The Committee has had discussions around reinstatements after long membership lapses, and whether specific requirements should exist in such cases.

Chair, Policy Manual Task Force

Comprehensive review of entire policy manual completed, to be approved by the board June 2008.

Spokesperson for the CERA credential

Interviewed and quoted by Risk & Insurance and Rough Notes on the value of the Chartered Enterprise Risk Analyst credential. Also featured in The Actuary.

Board Member 2002 - 2005

	Chaired the Risk Management Section (now JRMS) Organizing Committee; wrote petition to the Board, articles, bylaws. Actively worked to ensure members of the Casualty Actuarial Society could participate in the section as full voting members, including holding seats on the Section Council. I helped to facilitate the joint sponsorship of the Section by the CAS and the Canadian Institute.
	Recommended a new ERM related credential (later became the CERA); participated in the Credential Task Force and championed the credential until its approval by the Board in June, 2007. I've also been very active in promoting the CERA broadly, inside the profession as a whole, and with employers. (Of course, much more work remains!)

GAAP Textbook Co-Author and member of Project Oversight Group, US GAAP for Life Insurers, a major textbook; 2002. Second Edition, 2007.

Financial Reporting Section 1997 - 2001

Chair, 1999-2000

Reduced fees and increased attendance at Basic and Advanced GAAP Seminars

AAA Committee on Life Insurance Reporting 1992*

AAA State Health Committee 1992*

Frequent speaker at SOA meetings 1984 - current; most recently, panelist at 2008 Spring Health meeting, "Skills Needed to Advance the Corporate Ladder"

Author Indexed Discount Rate for Fair Value of Liabilities, 1995

Author A Comparison of Alternative GAAP Methodologies for Universal Life, Annual Prize for Papers, 1987

Author Articles on Individual Disability Income, FAS 97, Mutual Holding Companies

Member 13 SOA Sections

Member Chicago Actuarial Association

Member Caribbean Actuarial Association

Contributor Actuarial Foundation

In addition to having long past experience, I am excited about the future, namely the future of the SOA and our profession as a whole. I am already actively participating in establishing and executing our Strategic Plan. I firmly believe our profession will grow in influence and our credential will become more important over time. Go to my Issues page by clicking here.

* some dates approximate

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