Society of Actuaries - 2003 Archived Yearbook

The Strategic Plan that follows is the first step in the Strategy Management Process. The plan is being
distributed to the Society’s membership and key stakeholders and constituents to obtain their input and
insight. While the Board has discussed the plan, it has not been approved and will not be until such time the
Board is convinced that feedback has been received, understood and integrated with the plan.
Comments are welcome at strategicplan@soa.org. A specific discussion forum on the draft plan is also
available on the SOA web site.
Process To Date
The process began last fall when the Board of Governors decided to review the strategic direction of the
Society of Actuaries. The first priority was to begin with a comprehensive assessment of the Society’s
current position, including a review of past studies and current program material to identify core
organizational themes. This was done and then validated through 23 interviews and two Delphi Survey
rounds.
The next step was a strategic planning retreat attended by members of the Strategic Planning Committee and
invited guests representing a broad array of perspectives and experience. Over 3½ days, participants
discussed the findings, then developed and prioritized a comprehensive set of organizational strategic
initiatives.
Finally, at its January 2001 meeting, the Board spent half a day reviewing the report and discussing the
proposed strategic initiatives. They directed that the report be disseminated for the purpose of stimulating
dialogue and discussion with SOA members and other interested parties. After reviewing comments, the
Board voted to approve the strategic plan in March 2001.
Vision and Mission
Retreat participants determined that the vision and mission of the Society of Actuaries are still relevant. In
fact, participants felt strongly that the vision and mission state a critical directive that provides a tangible
service to SOA’s ultimate customer—the public.
Vision
The vision of the SOA is for actuaries to be recognized as the leading professionals in the modeling and
management of financial risk and contingent events.
Mission
The mission of the SOA is to advance actuarial knowledge and to enhance the ability of actuaries to provide
expert advice and relevant solutions for financial, business, and societal problems involving uncertain future
events.
Environment
This section identifies key trends and issues impacting the actuarial profession and the Society, currently and
in the future. If the SOA and the actuarial profession respond to changes in the environment, the profession