2 0 1 7 S T R AT E G I C I N I T I AT I V E S
INTRODUCTION Over the past few years, we have focused on a long-term strategic plan that was carefully carved out to help us live up to the mission of our organization. The four main objectives of the plan have been as follows: Increase career awareness Build the pipeline Foster retention and development in the career Improve and strengthen the organization In 2017, we will continue to make greater progress in these four areas by leveraging insights from past years to modify and enhance our strategic objectives in these focus areas. OUR ARE AS FOLLOWS: Communication & Branding Engage Our Volunteers Establish & Measure Industry Impact Primary Recruiting Resource for Black Actuaries Research Resource for Data on Black Actuaries Strategic Partnerships [2]
OUR MISSION AND VISION IABA has a network of over 2000 black actuarial student and professional members. MISSION: The International Association of Black Actuaries is a professional and student member organization whose 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. VISION: Our vision is to be the world s leading actuarial organization dedicated to influencing diversity by developing and recognizing the achievement of black actuaries. [3]
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COMMUNICATION & BRANDING In 2017, we intend to develop a value proposition statement that illustrates the value of IABA to all stakeholders. This will help our organization build relationships and enhance collaboration, solidify the relevance and reputation of IABA, and send a united message that demonstrates value for everyone. Build relationships and enhance collaboration with all stakeholders Solidify relevance/respect/reputation of our organization Engage volunteers/increase member participation Develop a united message that demonstrates value for everyone Level set and share info quickly and often Increase sponsorship [5]
ENGAGE OUR VOLUNTEERS Volunteerism is the fuel that runs the engine of IABA and we cannot afford to take it lightly. We intend to create projects that will allow our volunteers to develop leadership and project management skills that will enhance their professional development and create opportunities to excel in leadership roles at the workplace. We plan to invest in our volunteers through intentional leadership development programming. Increase involvement of experienced actuaries Recognize volunteers and train future leaders Increase volunteers/members in IABA Increase the number of black actuarial leaders eg. black chief actuaries, black partners, and black CEOs Enrich experience of various IABA stakeholders Prevent burn-out of current volunteers and create continuity in the organization [6]
ESTABLISH & MEASURE INDUSTRY IMPACT We will create both an Employer and University Diversity Score Card. These score cards are intended to help companies, universities, and the industry meet diversity goals and will increase the visibility of IABA. We will also begin to plan for a Global Online 2-day Marathon to connect with different populations, particularly millennials, and increase awareness of the profession. Influence diversity goals of employers actuarial programs Increase visibility of IABA Establish ourselves as the pioneers and the authority of diversity in the Profession Market our organization s values, mission, and vision Increase the number of Black actuaries (aka 5000 actuaries goal) Help companies, universities, and the industry meet diversity goals Provide feedback to companies, universities and industry stakeholders on diversity initiatives [7]
PRIMARY RECRUITING RESOURCE FOR BLACK ACTUARIES We will continue to establish ourselves as a primary recruiting resource by enhancing our use of social media, expanding our career networking event and promoting our new website. Additionally, we have launched our new website. We will also introduce an Annual Recruiting report that assists in facilitating the job search experience of members and helps connect our corporate sponsors to a rich source of talent. Annual Recruiting Report o Build awareness of IABA as a recruiting resource o Reinforce why employers should invest in IABA o Tangible base of diverse talent o Identify successes, opportunities, gaps o Encourage more job postings o Identifies job seekers and job providers, o Document recruiting network o Protect and expand our role within the actuarial community o Boost engagement of members and sponsors [8]
RESEARCH Our goal is to work toward determining if it is feasible and practical for IABA to lead, influence, and/or implement research initiatives. Investigate whether or not IABA should consider Research in its vision and strategic direction. o Detail what steps would need to be taken in order to successfully implement Research as a vision tenet and strategic initiative o Identify resources (human and financial) necessary to implement research initiatives o Assess impact on engagement - how many actuarial members of our constituent population might become more engaged with IABA as a result of having Research as a vision tenet [9]
RESOURCE FOR DATA ON BLACK ACTUARIES We will continue to make strides in this area through data management and analytics. We will accomplish this by: tracking the pipeline; maintaining information; reporting; and analyzing collected data to help drive strategy and direction. Position IABA as primary data source on black actuaries Track membership changes in the black actuarial population Use data to inform IABA s decision making Understand the pipeline Create and maintain partnership with colleges and companies Better understand constituents of the membership [10]
STRATEGIC PARTNERSHIPS We will continue to develop strategic alliances with other Actuarial Organizations, such as the SOA, CAS and The Actuarial Foundation. We plan to use synergies with these organizations to leverage resources. Build on existing relationships and limit overlap of efforts Increase awareness of the value of IABA Increase IABA exposure to larger audiences, within larger organizations [11]