International Association of Black Actuaries

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International Association of Black Actuaries
Formation October 25, 1992 (October 25, 1992)
Type Professional association
Headquarters Windsor, CT
Location United States
President and Director
Monique Hacker, FSA, MAAA
Foundation President
Jennifer Middough, FCAS, MAAA
Executive Director
Kate Weaver
Website BlackActuaries.org

The International Association of Black Actuaries (IABA) is a tax-exempt, nonprofit professional organization that represents black actuarial professionals and students around the world. Its members include Fellows, Associates and students of the Society of Actuaries, the Casualty Actuarial Society, the Institute and Faculty of Actuaries, and Enrolled Actuaries originating from the United States, Canada, Caribbean and African nations.

Mission[edit]

IABA's mission is to contribute to an increase in the number of black actuaries and to influence the successful career development, civic growth and achievement of black actuaries.

Organizational structure[edit]

IABA is unique in that the organization is staffed by a team of unpaid volunteers. The organization, along with IABA Foundation shares one Executive Director, the sole paid employee of the organizations. All of the accomplishments and objectives are achieved by a team of hard-working volunteers. These individuals are working full-time jobs, attending school, often studying for exams. The dedication and commitment of our volunteers make everything we do possible.

For more information about volunteering within our organization, please reach out to us via our website: www.blackactuaries.org

History[edit]

IABA History - Firsts

October 25, 1992: Sixty-five men and women from the United States, the Caribbean and Canada attend the inaugural meeting of the National Association of Black Actuaries (NABA) in Washington, DC. An Organizing Committee, under the leadership of Garth Bernard FSA, continues to build a framework.

October 16, 1994: The second Annual Meeting of NABA takes place in Chicago, IL. The name is changed to the International Association of Black Actuaries (IABA). By-laws and committees are proposed. Garth Bernard FSA becomes its first elected president.

October 14, 1995: Boston, MA hosts the Annual Meeting for the first time.

September 22, 1996: The Annual Meeting is moved to the campus of Howard University in Washington, DC, which becomes IABA’s “home” for four years. Christopher Allen of Morehouse College receives the first IABA scholarship. Four committees (Communications, Membership, Mentoring, and Finance) are approved and chairs named.

September 9–10, 2000: Atlanta, GA becomes the first host city in the current 6-city rotation for the Annual Meeting. At this meeting, professional development is added in the form of three workshops and a rap session.

April 4, 2001: IABA is granted 501(c)(6) status.

August, 2003: The first seven City Affiliates (Atlanta, Chicago, New York / New Jersey, Boston, Delaware Valley, Washington DC and Hartford) are formed.

August 18, 2004: The IABA Foundation is formed and is granted 501(c)(3) status.

December 3, 2004: The Corporate Advisory Council is formed with twelve organizations (Hewitt, Hartford, Aetna, Howard University, Towers Perrin, National African American Insurance Association (NAAIA), Mercer, DW Simpson, North Carolina Mutual Life Ins. Co., Aon, CNA and Allstate Insurance ) at the offices of CNA Insurance in Chicago. It meets four times per year, with one meeting immediately preceding the Annual Meeting.

August 5, 2005: The Annual Meeting introduces an agenda with 12 professional development sessions. The two-day meeting starts on a Friday just after lunch.

February 23, 2007: IABA holds its first Legends Reception, to honor black actuaries who have been trailblazers. The first honoree is Robert J. Randall, FSA 1952.

June, 2007: IABA hires its first Executive Director.

Past Presidents

Garth Bernard FSA October 1994 - September 1996

Linda Shepherd FCAS October 1996 - August 1998

Jeffrey Johnson FSA September 1998 - August 2000

Sharon Robinson FCAS September 2000 - August 2002

Stafford L. Thompson, Jr. FSA September 2002 - August 2006

Jeffrey Johnson FSA September 2006 - December 2009

John Robinson FSA January 2010– December 2013

Monique Hacker FSA January 2014 - present

Programs and Initiatives[edit]

Strategic Plan

IABA is focused on four major strategic objectives:

1. Building Awareness of the Actuarial profession 2. Building the Pipeline of Diverse Actuarial candidates 3. Fostering Retention and Development in the Career 4. Improving and Strengthening the Organization

The execution of the IABA Strategic Plan is managed by the IABA and IABA Foundation Boards of Directors. Each Board member works directly with Affiliate and Committee leaders as well as volunteers from the organization.

City Affiliates

IABA City Affiliates exist to carry out the organization’s mission through; Outreach to talented black high school and college students, aimed at increasing their awareness of the actuarial profession; and Providing professional and actuarial career development opportunities for IABA members.

Each City Affiliate creates and executes its own agenda, based on local conditions, needs and preferences.

Visit our City Affiliate page for more information on existing locations and leaders: https://blackactuaries.org/affiliates.html

IABA Foundation Scholarship Program

The IABA Foundation Scholarship Program seeks to provide scholarships at the undergraduate or graduate level for black students who are interested in pursuing actuarial careers.

IABA has awarded over $300,000 in scholarships since 1992. Scholarships are awarded on basis of merit and can be renewed. In 2013, IABA awarded over $60,000 in scholarships to 16 graduating high school seniors, undergraduate and graduate students. Five scholarships included internships or entry-level offers. Scholarships also include IABA annual meeting attendance (including travel), membership dues, and assignment of IABA mentor.

More information about eligibility and application can be found here: www.blackactuaries.org/scholarships

Mentoring Program

Mentoring has been proven to make a positive contribution to one's professional development. The IABA Mentoring Program offers four services: Traditional Mentor; Mentor Resource by Phone; Mentor Resource by Email; Common Questions database.

More information can be found here: https://blackactuaries.org/resources/mentoring.html

IABA Actuarial Boot Camp

The IABA Actuarial Boot Camp is an intensive 4-day workshop geared toward preparing young actuarial students for the interview process associated with obtaining an actuarial internship or entry level position. The Boot Camp is open to black actuarial students who are entering their Freshman, Sophomore or Junior year of college.

Sessions typically include: Emotional intelligence; Business writing and communications; MS Excel and Access skills; Social, corporate and international etiquette; Public speaking and presentation skills; Professional exam preparation; Personal branding; Mission, vision and career planning; Acquiring a professional mentor; Using and maximizing network resources; Navigating and understanding the world of business; Resume workshops; Mock interviews; Maximizing career fairs.

Boot Camp attendees also have the opportunity to interact in an intimate environment with high-level executives from IABA’s Corporate Advisory Council.

More information about the program and application can be found here: https://blackactuaries.org/scholarships/scholarship-bottom/2-uncategorised/47-iaba-foundation-actuarial-boot-camp.html

Conferences[edit]

IABA Annual Meeting

The IABA Annual Meeting occurs during the first weekend in August and consists of several components:

Career Networking Event: An exciting opportunity to interact with industry professionals in a casual & intimate atmosphere.

IABA Networking Reception: Experience the host city while engaging with old and new friends.

Professional Development: With sessions tiered to experience level, attendees will learn something new, and can earn at least 10 continuing education credits.

Annual Awards Banquet: A time to recognize new designees, exam passers, and those who helped IABA throughout the year.

Information about the current Annual Meeting can be found here: https://blackactuaries.org/news-events/annual-meeting.html

References[edit]

www.blackactuaries.org

External links[edit]

IABA Website https://www.blackactuaries.org

Mentoring https://blackactuaries.org/resources/mentoring.html

Annual Meeting https://blackactuaries.org/news-events/annual-meeting.html

IABA Actuarial Boot Camp https://blackactuaries.org/scholarships/scholarship-bottom/2-uncategorised/47-iaba-foundation-actuarial-boot-camp.html

Scholarships https://blackactuaries.org/scholarships/scholarship-bottom.html

City Affiliates https://blackactuaries.org/affiliates.html

Donation https://blackactuaries.org/donate.html

Membership https://blackactuaries.org/com-phocagallery-imagecomments/membership.html