2021 Strategic Plan - International Association of Black ...
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2021 Strategic Plan 2020 has been unprecedented. The status of race and racism in our country has been brought front and center and has exposed the work that needs to be done. We realize that our mission of diversity in the actuarial profession cannot be done alone. The actuarial community has to come together. To that end, IABA has outlined a 2021 Strategic Focus that not only focuses on what IABA can do to address the barriers to entry for minority candidates, but also expands beyond that to include our actuarial partners. International Association of Black Actuaries Mailing Address: PO Box 270701, West Hartford, CT 06127 Email: iaba@blackactuaries.org Website: www.blackactuaries.org
IABA Digital Transformation
As IABA continues to evolve, it’s important that we have a cohesive brand message. IABA plans
to coordinate a full digital transformation to better communicate IABA’s spirit – bringing the
IABA brand to life.
2021 initiatives:
• Engage a marketing company to enhance IABA’s digital communications
including:
o Transforming external facing materials including:
Membership prospectus
Corporate solicitation
Website
Social media
o Improve communication about what IABA represents, what IABA does,
IABA’s influence and the impact of our organization on the industry
Awareness & Consideration
Lack of awareness (familiarity) is a significant barrier for minorities to enter the actuarial
profession. Without awareness, minority students cannot enter the profession pipeline.
2021 initiatives:
• Engage in efforts to specifically expose Domestic Black populations in North
America to the actuarial profession:
o In the US:
Create and pilot a coordinated HBCU outreach initiative
Engage a digital marketing agency to create a digital awareness
strategy
• Pilot in one particular city in 2021
Identify and pilot an Ambassador program at an HBCU
Review and adjust existing programs, as needed, to meet the
particular needs of African American students (ex. Boot Camp,
Exam Prep, Mentor Resource)
o In Canada:
Engage with local students to expose them to the actuarial
profession and build a connection to the profession through
programs: mentoring; job shadows; outreach events; etc.
Engage in digital outreach to build awareness, based on
recommendations from US campaign.
• Refocus efforts on attracting influencers (teachers, guidance counselors, faculty
members, parents) to IABA actuarial awareness events, including attracting local
influencers to the IABA Annual Meeting.
International Association of Black Actuaries Mailing Address: PO Box 270701, West Hartford, CT 06127
Email: iaba@blackactuaries.org Website: www.blackactuaries.org
Engagement & Support
One of the best ways to draw minority students into the profession is to build a connection
through programs that enrich their experience within the actuarial community. These programs
not only deepen the students’ understanding of the profession, but help to develop the students’
professional network. IABA plans to leverage existing programs that strengthen the students’
connection to and understanding of the profession. Additionally, existing IABA members
benefit from leadership development opportunities provided through IABA – many of the
volunteer opportunities IABA provides give members their first taste of leading and managing a
team – providing them with invaluable experiences that are directly applicable to their career
progression.
2021 initiatives:
• Expand Actuarial Ambassador Program
o Launch 5 new AAPs in 2021
o Identify 5 new AAPs for 2022
• Expand Exam Prep Program by increasing participants and/or frequency of
program offering
• Expand Professional Development and Leadership opportunities:
o Offer leadership development webinar opportunities (directly through
IABA, or in partnership with other actuarial organizations)
o Provide opportunities for members to serve in leadership positions in
IABA, as well as partner organizations
o Offer opportunities for speaking engagements, research workgroups, etc.
o Expand Future Leaders mentoring program
Influence in the Profession
IABA has become the industry resource for diversity, equity & inclusion related topics. We plan
to continue to partner with organizations to further our industry influence and publicize these
efforts.
2021 initiatives:
• Present at and participate in industry conferences and events
• Maintain and expand representation on industry task forces, committees and
research projects
• Regularly submit articles to be featured in industry publications & podcasts
• Participate in and encourage the establishment of task forces exploring business
practices
• Develop & implement Industry Pledges to ensure commitment from the
following to improve the representation and success of blacks in the actuarial
profession
o Employer
o Recruiter
International Association of Black Actuaries Mailing Address: PO Box 270701, West Hartford, CT 06127
Email: iaba@blackactuaries.org Website: www.blackactuaries.orgMeasurement and Reporting
IABA cannot manage what it cannot measure. To that end, IABA intends to implement
measurement and reporting strategies to track industry progress toward our diversity goals.
2021 initiatives:
• Participate in the creation of an industry SMART goal for solving minority
underrepresentation in the profession
• Create a task force to:
o Analyze data provided by SOA/CAS as it relates to interventions to
increase retention
o Analyze data & reporting from CAE’s & UCAP’s
Participate in review of CAE terms and requirements
• Develop recommendation for adding DEI component
Participate in University Advisory Council to explore
• Develop recommendations document for Universities to
build diversity in Actuarial Programs
Explore ways to match HBCU’s with CAE’s to prepare students for
Actuarial exams
Recommend ways to support and retain black students
International Association of Black Actuaries Mailing Address: PO Box 270701, West Hartford, CT 06127
Email: iaba@blackactuaries.org Website: www.blackactuaries.orgYou can also read
