First Annual CAE Student Summit

Article from:
The Centers of Actuarial Excellence (CAE) Program
First Annual CAE Student Summit
By Antonia Coffelt
The Society of Actuaries (SOA) welcomed 41 student representatives from the
Centers of Actuarial Excellence (CAE) universities and colleges to downtown
Chicago in mid-August for the SOA’s first (and now annual) CAE Student
Summit.
The 2012 CAE Student Summit attendees gather for a group photo during the FRQIHUHQFH
CAE students, selected by their faculty, participated in a dinner and a day-long
event to help students connect with each other, learn more about the SOA, gain
career insights from experienced practitioners and share feedback with the SOA
staff about their experience as actuarial students and exam candidates.
Students, SOA President Brad Smith, SOA President-Elect Tonya Manning, SOA
Past President Don Segal and SOA staff mixed and mingled at a welcome dinner
on August 16. Laughter filled the reception space as candidates from across the
United States, Canada and Hong Kong learned a little bit about each other through
an ice-breaker activity. Imagine over 50 people with pens and papers in hand,
saying hello and asking questions like, “Have you ever ridden a camel or a
unicycle?”, “Would you skydive or bungee jump if the chance arose?”, and “Do
you know someone famous?” Lively conversation continued over dinner as
stories were shared about internships, university classes, the current job market,
the outlook for the profession—and some friendly teasing about university
rivalries.
Students pause their conversation to pose with their tablemates, including SOA
President Brad Smith and SOA Executive Director Greg Heidrich.
The Summit officially kicked off on August 17 with a keynote speech from SOA
President Brad Smith titled, “Lessons Learned: My 35-Year Career as a
Professional Actuary.” Smith shared several pearls of wisdom that he’s
discovered along his career pathway to becoming Chairman of Milliman Inc.,
including the three things every employer wants to know when hiring and the
questions everyone should ask themselves as they seek to be a professional in any
industry:
1. Capability—Can you do the job? Do you have the knowledge and skills to
do the work?
2. Integrity—Will you do the right thing when no one is looking?
3. Enthusiasm—Are you passionate about the work? Do you approach your
work with an enthusiastic, positive outlook?
Attendees take notes of key points made during SOA President Brad Smith’s speech.
Following President Smith’s talk, students learned about the SOA’s current
strategic initiatives and its future plans, and posed various follow-up questions to
better understand the organization and the profession. Students also provided
feedback on promoting the SOA’s credentials and offered helpful comments on
specific marketing outreach initiatives geared toward university students and
candidates.
Wrapping up the morning session was a panel discussion moderated by SOA
Education-Staff Fellow Stuart Klugman, and featured Smith, Manning, SOA
General Chairperson of Education Committees Jim Mange (FSA 1983) and SOA
Member Spokesperson Elizabeth “Liz” Jobe (FSA 2008). The discussion,
centered on The Future of the Profession, covered a range of topics from how the
actuarial profession is viewed and what to expect when school/exams are over to
the benefits of volunteering. The students also took full advantage of the
opportunity to ask direct questions of the panel.
The esteemed panel. From left to right, SOA President-Elect Tonya Manning,
SOA General Chairperson of Education Committees Jim Mange, SOA Member
Spokesperson Liz Jobe and SOA President Brad Smith.
Following a lunch of quintessential Chicago fare (Italian beef, Chicago-style hot
dogs, deep-dish pizza and Eli’s cheesecake), attendees were able to participate in
group activities, including developing solutions to better help candidates with
information resources, exam support tools and networking opportunities. A
favorite group activity that ended the Summit day was the Flip Video Challenge.
Similar to a reality TV show challenge, students in small groups were given one
hour to create, develop and shoot a shareable two- to three-minute video to inform
and promote the profession. Students were encouraged to push the limits of their
imagination and even the conference room itself—several groups took to the
streets of Chicago, utilizing outdoor cafés under the shadow of the John Hancock
building on the famed Michigan Avenue. At the conclusion of the Summit, videos
were viewed over popcorn (Garrett’s popcorn to be exact, another Chicago
favorite!) and participants voted on their favorite video.
To date, the SOA has received an overwhelming number of positive responses
from participants, further cementing the CAE Student Summit as an annual event.
Here’s what students said about the summit …
“It is truly amazing what you can take away from such an experience.”
“[A] wonderful and informative weekend.”
“It was a true joy to meet both experienced actuaries and fellow students.”
“… it was a great experience that I will remember for the rest of my life.”
Antonia Coffelt is academic administrator at the Society of Actuaries. She can be
reached at acoffelt@soa.org.