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Topics in the News
Strengthening Our Board
The Society of Actuaries (SOA) is committed to continually improving how we operate so we are well positioned for the future. In fall 2024, the SOA Board of Directors (Board) formed a Task Force to evaluate its Board governance, identify challenges, review leading practices, and gather member feedback. Their findings led to a set of proposed governance changes, which the Board approved for a membership vote in October 2025.
Want to hear more? Join a town hall with SOA leaders and get your questions answered.
Proposal Summary
Through the Task Force’s discovery processes, key challenges have been identified and a set of actions are recommended to enhance Board effectiveness.
Challenge
Recommendation
Action
Limited representation and outside perspectives
A more diverse Board
Lack of transparency in the candidate selection process
An objective, transparent candidate evaluation process
• Skills and experience requirements clearly communicated
• Candidates identified and evaluated based on needed skills and experience
Learn More• Candidates identified and evaluated based on needed skills and experience
Voting process doesn’t match Board needs with candidate skills
A strategic alignment of skills with Board needs
• Shift from competitive elections to for/against vote on vetted candidates
• 2 distinct roles for President and Chair
Learn More• 2 distinct roles for President and Chair
Large, cumbersome Board size
A smaller, more nimble Board
• Shift from 18 to 12-person Board
• Add Member Leadership Advisory Council
Learn More• Add Member Leadership Advisory Council
Ensuring a Future-Forward Organization
Why It Matters
Our profession faces a rapidly changing environment and we must adapt and respond. While leading practices for association governance have evolved, the SOA’s governance processes haven’t materially changed in many years. Our current Board lacks global representation as well as expertise and insights from outside the profession. And our election process doesn’t align candidates’ skills and experience with the Board’s needs.
The proposed governance changes are designed to create a Board that reflects our growing membership, incorporates diverse viewpoints, and has the skills and experiences needed for the future.
How Members Benefit
Strong Board governance is critical to the SOA’s long-term growth and future success. The proposed changes will result in:
- An objective, transparent process for evaluating candidates based on skills and experience
- A voting process that allows members to make informed decisions about candidates with less time and effort
- Leadership that reflects our global membership and includes valuable outside perspectives
- A Board structure that fosters in-depth discussion and rigorous debate, allowing the SOA to more rapidly address emerging opportunities and challenges
- A highly effective Board with the skills and experiences needed for the future
Inside the Process
A 10-member Task Force comprised of SOA members and current and former Board members with governance expertise has met regularly since fall 2024. They’ve assessed challenges, reviewed member feedback, researched leading practices, and developed thoughtful recommendations to strengthen the Board.
A comprehensive approach guided the review, incorporating input from members through numerous town halls, group discussions and market research. The approach was designed to ensure the process remained inclusive and insight-driven.
How the Current Board Works
The SOA Board is comprised of 18 volunteer Fellows, which includes 15 general members, one President and Chair, one President-Elect and Vice Chair, and one Past President. Currently, there is one reserved seat for a member who lives and works outside of the U.S. and Canada. The Board collaborates with SOA staff leadership to develop long-term objectives and strategy in response to a rapidly evolving environment.
Next Steps
FSA members will vote on Bylaw changes during a special election October 13–24. If approved, the changes will be phased in over time, ensuring stability and continuity.
Hear More
Join a town hall to hear from SOA leaders about these proposed changes to the Board and share your perspective on the path ahead.