Becoming an actuary is a journey of both technical mastery and personal growth. While the path to earning your Fellowship with the Society of Actuaries (SOA) is demanding—packed with complex exams and long study hours—there’s a parallel journey happening: your development as a leader. Too often, aspiring actuaries see leadership as something to worry about “later,” after they’ve passed their exams and settled into a senior role. But the truth is, leadership skills aren’t just for chief actuaries or department heads. They’re essential at every career stage, and the sooner you start building them, the more you’ll stand out—even while you’re still studying for those tough SOA exams.
Think about it: the best actuaries aren’t just number crunchers. They’re strategic thinkers, communicators, and collaborators. They know how to make their work matter to the business, influence decisions, and inspire those around them. The good news? You don’t have to wait for a fancy title to start developing these skills. In fact, the process of studying for your SOA exams—balancing coursework, work responsibilities, and life—is the perfect training ground for leadership. This article walks you through a practical, three-step strategy to build and demonstrate actuarial leadership skills while you’re still in the thick of exam prep. You’ll find real-life examples, actionable tips, and a few personal stories along the way.
Step 1: Take Initiative and Add Value Wherever You Are #
Leadership isn’t about your job title; it’s about your mindset. Even as a student or early-career actuary, you can show leadership by taking initiative—looking for ways to contribute beyond your assigned tasks. For example, suppose you’re working on a valuation project with established processes. Instead of just following instructions, take time to understand why things are done a certain way. Look for inefficiencies, ask questions, and suggest improvements. This proactive approach not only helps your team but also builds your credibility as someone who cares about the bigger picture[1].
If you’re naturally introverted, don’t worry—leadership isn’t about being the loudest voice in the room. Offer to take notes during meetings and share summaries with your team. This gives you a chance to organize your thoughts, contribute meaningfully, and show your reliability, even if you’re not yet a subject matter expert[1]. Small actions like these demonstrate your commitment and set the foundation for more visible leadership roles down the line.
Here’s a personal example: Early in my career, I noticed our team spent hours each month manually reconciling data. I took the initiative to learn a bit of Python, automated part of the process, and shared the script with my manager. Not only did this save time, but it also opened up a conversation about how we could use technology to improve other workflows. That small project became a stepping stone to more responsibility—and it all started with a willingness to look for opportunities, not wait for permission.
Step 2: Build Relationships and Develop Your Soft Skills #
Technical skills get you in the door, but soft skills—communication, emotional intelligence, collaboration—help you move up. Actuaries often joke that their work is “in the basement,” but the most successful ones know how to bring their insights to the boardroom. That means learning to explain complex concepts in simple terms, listening actively, and building trust with colleagues across the organization[3].
One of the best ways to build these skills is to seek out feedback and mentorship. Ask your manager or a senior colleague for advice on challenging scenarios, like how to communicate a difficult finding to non-actuaries. These conversations not only help you grow but also strengthen your professional network. Remember, leadership is as much about relationships as it is about results[1].
Networking doesn’t have to mean awkward cocktail parties. Join the SOA’s Leadership & Development Section, participate in online forums, or attend local actuarial meetups. These groups offer practical tools for personal and career growth, as well as chances to connect with peers who are on a similar journey[2]. I’ve found that some of my most valuable career insights came from casual conversations with other actuaries—people who’ve faced the same challenges and can offer practical advice.
Emotional intelligence is another key ingredient. Daniel Goleman’s research shows that empathy and social skills are critical for effective leadership. Practice active listening, pay attention to team dynamics, and be open about your own learning process. When you make a mistake—and you will—own it, learn from it, and move on. This kind of authenticity builds respect and trust, which are the currency of leadership.
Step 3: Align Your Development with Organizational Goals #
Leadership isn’t just about personal growth; it’s about making an impact. As you build your skills, look for ways to connect your development to your company’s strategic objectives. For example, if your organization is focused on improving customer experience, think about how your actuarial work can support that goal. Maybe you can help design a new product, analyze customer feedback data, or streamline underwriting processes. When you show how your work drives business results, you position yourself as a strategic partner, not just a technical resource[4].
This alignment starts with understanding your company’s goals. Take time to read annual reports, attend town halls, and ask your manager about the big-picture priorities. Then, tailor your learning and development efforts accordingly. If your company is investing in predictive analytics, for example, focus on building those skills—not just because they’re trendy, but because they’re relevant to your organization’s success[5].
Tracking your progress is also important. Set clear goals for both your exam progress and your leadership development. Regularly assess how your new skills are being applied at work, and seek feedback from colleagues and supervisors. This kind of intentional growth ensures you’re not just checking boxes, but actually making a difference[5].
Practical Examples and Actionable Advice #
Let’s make this concrete with a few real-world scenarios:
Example 1: Leading a Study Group
Form a study group with other SOA candidates. Take turns leading discussions, explaining difficult concepts, and keeping everyone accountable. This not only helps you master the material but also builds your ability to facilitate, motivate, and support others—core leadership skills.
Example 2: Volunteering for Cross-Functional Projects
Look for opportunities to work with colleagues from other departments, such as marketing, IT, or finance. These projects will stretch your communication skills and give you a broader view of the business. Even if it’s outside your comfort zone, the experience will pay off in the long run.
Example 3: Sharing Knowledge
After you pass an exam, write a short summary of key concepts and share it with your team. This demonstrates your expertise and your willingness to help others grow. It’s a small act of leadership that can have a big impact.
Personal Insights and Encouragement #
Here’s something I wish someone had told me when I was starting out: Leadership is learned by doing, not by waiting. You don’t need a title to lead. You just need to care, take initiative, and keep learning. The actuarial profession is changing fast, and the most successful actuaries are those who adapt, grow, and bring others along with them.
Don’t be afraid to step out of your comfort zone. Take on stretch assignments, make mistakes, and learn from them. As one industry expert puts it, “Allow people to fail fast.” Growth happens when you’re challenged, not when you’re comfortable[8]. And remember, your technical skills will always be important, but your ability to lead—to communicate, collaborate, and inspire—will set you apart.
The Bottom Line #
Developing actuarial leadership skills while passing SOA exams isn’t just possible—it’s a smart strategy for long-term success. Start by taking initiative in your current role, no matter how junior. Build relationships and hone your soft skills through feedback and networking. Align your personal growth with your organization’s goals, and look for ways to make a real impact. Along the way, share your knowledge, support your peers, and embrace challenges.
The actuarial profession needs leaders at every level—people who can think strategically, communicate clearly, and drive positive change. By following this three-step strategy, you’ll not only ace your exams but also lay the foundation for a rewarding, influential career. And who knows? The leadership habits you build today might just shape the future of the profession.