Who will lead the SOA? You decide.

Candidate Questionnaire

David Dillon, FSA 2004, FCA 2023, MAAA 2002
SVP & Principal, Lewis & Ellis, LLC, Dallas, TX
Instructor, School of Risk Science – Actuarial Science, Georgia State University

Brief description of current work:

As a consulting health actuary, I specialize in helping health insurance companies and governmental agencies navigate the complexities of a rapidly evolving landscape by identifying, assessing, and mitigating risks associated with financial uncertainties. My expertise covers a wide range of topics, including healthcare reform, pricing, and reserving.

Primary Area of Practice:

Healthcare, Health Insurance

Professional Background

Provide a description of your professional background and the type of work you have performed. Explain how these experiences have prepared you as an Elected Board Member and qualify you in carrying out the strategic direction of the SOA.

For the past 25 years, I have been a consultant at Lewis & Ellis, specializing in healthcare and health insurance. I assist insurance companies with product development and valuation and provide state insurance departments with forecasting, rate review, financial analysis, and audit services. I take great pleasure in serving both aspects of the insurance sector.

My work has involved navigating complex situations with diverse stakeholders, teaching me the value of flexibility and adaptability. Throughout, I have honed personal, interpersonal, and communication skills that enable effective collaboration based on transparency, sincerity, and authenticity.

I also have the rewarding role of teaching Health Insurance in Georgia State University's Actuarial Science program. It has been a privilege to help actuarial students develop their skills and critical thinking abilities while simultaneously improving my communication, organization, and leadership abilities. By sharing my knowledge with a diverse group of students, I have found a powerful sense of purpose and satisfaction.

Through these many experiences, as well as my time serving on the SOA Board, I can offer a robust leadership framework to the role of SOA President. As a long-time ambassador and volunteer, I contributed to the development and execution of the SOA's Strategic Plan, as well as the long-term growth strategy. I am eager to continue this effort and help the SOA evolve to strengthen the role of actuaries.

Those who have collaborated with me are aware of my passion, enthusiasm, creativity, curiosity, diligence, and deep sense of responsibility I have toward our organization and the actuarial profession. I am excited to use these attributes to serve the SOA membership and look forward to making a meaningful impact.

Volunteer and Governance Experience

Describe how your volunteer and governance experiences would strengthen your contributions to the SOA Board, the SOA, and strategic plan execution. List your relevant volunteer experience. Include the name of the organization, your role, and approximate dates. 

I began volunteering with the SOA around 2008 when I joined the efforts to promote and advance the profession through Professional Development. Every year since then I have been a highly involved volunteer, including:

• Serving as an SOA Board of Director (2018-2021)
• Serving on the SOA Health Section Council (2015-2016) and Research Committee (2014-2018)
• Co-chairing the SOA HSC Educational Podcast Series (since 2015)
• Chairing the Commercial Healthcare Strategic Initiative (2017-2018)
• Coordinating and presenting 50+ sessions at SOA events, with four receiving Outstanding Session Awards
• Acting as an SOA media liaison on health insurance issues (since 2017)
• Serving on the American Academy of Actuaries' Health Financial Reporting Committee (since 2017), Individual and Small Group Markets Committee (since 2019), and as an instructor for the Life and Health Qualification Seminar (since 2021)
• Joining the National Math Foundation Board in 2019

Receiving the Volunteer of the Year Award (2017) and the Presidential Award (2022) attests to my commitment and passion for the SOA. Receiving such honors demonstrates my dedication to the SOA's mission and ability to effectively serve the organization and its members.

The inspiration behind my volunteer commitment has been constant. It is a privilege to work with enthusiastic SOA volunteers and staff who are committed to advancing the profession. Collaborating with other volunteers is personally fulfilling; I cherish the friendships developed along the way.

As a three year member of the SOA’s Governance and Policy committee, I focused on leadership identification and development to help actuaries have the knowledge to provide expert advice and relevant solutions for financial, business, and societal challenges.

All of these many experiences have helped to prepare me well for the role of SOA President. They have given me a foundation from which to serve as our organization’s top ambassador and to strengthen our profession's future.

Leadership/Managing Change

Describe a significant project that you led in the workplace or in your volunteer activities. Describe how you addressed changes that were proposed, whether changes were made, or were not made after considering all options. How did you influence alignment in the final outcome, and what were the biggest challenges you had to overcome?

In 2017 I led a major strategic initiative of the SOA called “Commercial Health Care: What’s Next?” Working with a wonderful team of about 20 actuaries, we researched, designed, reviewed, revised, and published an anthology series of white papers that analyzed the key issues impacting health reform, including the Affordable Care Act. It was a major undertaking with lots of moving parts, but it made a significant contribution to the healthcare body of knowledge. Our efforts as a team attracted some great feedback because, I believe, everyone felt a strong desire to contribute their best effort.

In my work I have often faced the challenge of serving as an objective facilitator for diverse groups with opposing opinions, leading them towards a solution. A prime example is my experience advising a state-based healthcare reform committee composed of representatives with diverse backgrounds, priorities, and political agendas. In my role, it was crucial to engage with the committee members and provide my services objectively. This involved:

• Preparing and educating members on the implications of potential decisions.
• Creating an environment where committee members with opposing positions were comfortable asking questions and sharing their opinions.
• Ensured that committee members had sufficient information to form opinions and come to a solution within a limited timeframe.
• Encouraging a healthy and respectful debate among committee members.
• Sharing my objective assessments whenever I thought it would be helpful for the conversation.

Despite personal views that differed from many committee members, I consistently maintained objectivity and an unbiased presentation of solutions while respecting others' opinions. This approach allowed me to successfully navigate the complex societal issues and financial risks that were impacted by healthcare reform.

I believe that leading and motivating others with kindness, understanding, and professionalism is an essential aspect of the role of SOA President.

Diversity

What should the SOA’s goals be in the area of diversity, equity and inclusion? You can read more about current efforts by the organization at www.soa.org/programs/diversity-inclusion.

The SOA has a robust Diversity, Equity, and Inclusion (DEI) strategy. Its framework gives priority to three areas, which I would emphasize as President:

1. Cultivate equitable and inclusive experiences for members and candidates,
2. Grow the actuarial pipeline with an emphasis on supporting underrepresented groups, and
3. Champion DEI to serve the public interest through research.

The SOA already has made noteworthy progress by raising awareness, implementing programs like the Diversity Exam Reimbursement Program, and engaging underrepresented populations. As President, I will support the SOA's ongoing efforts to expand on the current successes by:

• Setting the Tone at the Top. Although the Board's diversity has improved, continuous assessment of its composition, skills, and DEI effectiveness is essential. Ensuring that the Board reflects the entire membership and amplifies all voices is crucial for success.
• Lowering the Barrier to Entry. Expanding efforts like the Affiliate and Needs-Based Exam Reimbursement Programs will help more people discover the actuarial profession early on. By marketing to high school and early-college students, we can prepare and educate a diverse pipeline of candidates.
• Seeking Out New Partners. Finally, the SOA should collaborate with new DEI partners and connect with underrepresented populations. By setting specific, measurable, achievable, and relevant, we can improve SOA’s DEI strategies for maximum impact.

International

The SOA has been growing internationally. How would your experiences help the SOA further the needs of the membership outside of North America?

Society’s reach extend internationally. From these years of experience, I know we must continue to educate, promote, cultivate, and provide tailored resources for its growing global membership. As professionalism, research, and continuing education needs transcend geographic borders, I believe that delivering value necessitates targeted approaches that could vary significantly across the globe.

We are the world's largest actuarial society. With this comes the responsibility to engage, listen, and respond to members outside North America. As President, I would leverage board representation and regional committees to:

• Build relationships with local actuarial organizations, universities, and clubs will help identify each market's unique needs and develop appropriate strategies.
• Expand the valuable International Section's Ambassador Program to enhance the effectiveness of international initiatives.
• Address global challenges through such actions as balancing educational requirements, understanding risk changes, creating and grading exams fairly in multiple languages, engaging with international actuarial associations, and allocating budgets globally.

Prudent resource use is crucial for expanding our global presence. When evaluating situations, the SOA should consider the issue's uniqueness, shared resources, and local impact.

I see several current challenges that I would address in my role as leader. These include reducing exam fees and professional development costs that may exclude candidates, facilitating professional development in resource-limited areas, and prioritizing growth opportunities in Latin America, Europe, Greater Asia, India, China, the Middle East, and Africa. By addressing these challenges, the SOA can effectively serve its global membership.

Emerging

The SOA needs to continue to attract the brightest students to our actuarial profession and now there are more technical career options available. What do you recommend that the SOA do to continue to attract the right people to the actuarial profession?

The SOA has been doing a lot to attract bright students through initiatives like the SOAR Pathway, a premier education program preparing future actuarial professionals, and a free Affiliate Membership open to all interested in the field. Additionally, the SOA's Career Mentor Program fosters one-to-one mentoring relationships between new and established industry members.

Additionally, the SOA website has been significantly revamped to appeal to prospective actuaries, featuring a dedicated section that outlines our value proposition, typical workdays, and various career paths. However, the SOA can still enhance its efforts. It's crucial to address hidden barriers by extending our reach further into colleges, universities, and high schools where awareness of the actuarial profession is often low, particularly among underrepresented groups. SOA research indicates that minority students and their networks seldom encounter actuaries. We should aim for proactive, grass-roots outreach by actuaries to visit classrooms and reach new communities to boost visibility among mathematically inclined students.

Prospective actuaries may come from recent college graduates in actuarial or related fields or those transitioning later in life. By continuing to strengthen our continuing education and professional development programs and making them even more robust, we can enhance our appeal to these individuals. Emphasizing sought-after skills like data science, business problem-solving, and adaptability to dynamic environments is also important. Finally, the SOA should persist in developing certificate programs and micro-credentials that keep pace with the profession's needs and appeal to potential candidates. By continuously evolving, empowering, and elevating its programs and profile, our pipeline of new members will continue to expand.

Personal Experience

Share a personal experience, trait, or characteristic that will help the membership to better understand you and your candidacy.

Resilience and persistence are two of my strongest traits. We all face hardships in our daily lives, both small and large. Through my actuarial exam and other professional experiences, I made a conscious decision to develop these traits as two of my core strengths. They have allowed me to never stop pushing forward and to avoid feelings of complete defeat. This has given me the best chance to overcome challenges and work through problems.

I have a wonderful support system that helps me through these challenges. My family is number one, and I have wonderful colleagues who provide support. (I make it a point to extend support to them, too!) I have found that resilience is not about putting up with something tough or coping on my own. It is being able to reach out to others for support and feedback. Similarly, persistence has enabled me to continually move forward and fuel my determination to achieve new goals.