2016 IABA FOUNDATION ACTUARIAL BOOTCAMP the mentor-mentee relationship Archie Otu, ASA, MAAA IABA Mentoring Leader July 28, 2016

Agenda Introductions Advisor, Mentor, Advocate Duties and responsibilities of mentor and mentees Benefits of Mentor-Mentee relationship

Introductions Name School Why do you want to be an actuary Why do you have / want a mentor or mentee? Introduce self 10 mins around the room

Advisor, Mentor, Advocate

Advisor, Mentor, Advocate – Definition A person with more and deeper knowledge in a specific area Typically someone who is an expert in a particular field Mentor A trusted counselor or guide-someone who can take a mentee under their wing and nurture their career Someone who gives advice to a less experienced professional Advocate A person that publically supports a particular cause A person who pleads for or in behalf of another

Advisor, Mentor, Advocate Discussion – How To Use Them In Different Situations Information about becoming an actuary Guidance on charting your path to become an actuary Information about finding an internship or a job Information about a specific company Help with a decision between job offers Recommendation for a job Advise of how to approach exams Support when you fail an exam Recommending you for a promotion when you pass an exam discussion

Getting Started Know your objections and expectations What do you want from a mentoring relationship? What are your career / person goals? Are you looking for a mentor or an advisor? Different staging of life or career call for one or the other Understand that advocacy comes much later in a relationship

DUTIES AND RESPONSIBILITIES

Mentee responsibilities Don’t think of it as something to get but something you do Mentorship relationship is about what you put into as a mentee. You need to dedicate the time/energy necessary to be mentored properly (which can change depending on what stage of life you’re in) To land your dream mentor you first need to sit down and explicitly map out your goals and determine how having an experienced person will help you achieve them Discussion 5-10 mins

Mentor Responsibilities Increase the number of effective and long term mentoring relationships in order to influence the successful career development of our members, while also helping those with an interest in the actuarial profession by providing useful and valuable information to help them break into the profession. Provide information to help guide mentor/mentee pairs in creating and maintaining successful relationships. Respond appropriately to questions from those seeking guidance from a representative from the Actuarial profession.

What Should a Mentee Expect from a Mentor Provide career advice and guidance with career path Demonstrate interest, encouragement and support Serve as a sounding board for ideas Help with development of skill building Assist with networking Confidentiality Position you’d like to be in and connections to guide you to a similar position Criticize constructively

What Should a Mentor Expect from a Mentee Initiative, excitement, energy, inquisitiveness Professionalism, punctuality, commitment Openness and listening skills Willingness to grow and develop Positive attitude Honesty Confidentiality

Good Mentors Assess your strengths and weaknesses Help you understand the structure and organization of the topic Introduce new perspectives and correct any wrong thinking Boost your ability to make decisions Familiarize with the tricks of the trade Introduce you to important resources and useful references

Small Group Discussion What do you think are the qualities of a good mentor/mentee? What do you expect from mentoring relationships? Discuss in groups (5 mins) Share (5 mins)

Finding a mentor Identify someone you admire and respect. You can choose someone from your own place of employment or outside it Deciding what you need in a mentor-what skills you’d like to develop with your mentor’s assistance. Consider your goals in choosing a mentor. Test the waters by asking advice. Be sure to reveal as much of yourself as possible.

Finding a mentor Some mentees prefer an older, more experienced mentor at a higher organizational level so they can aspire to the work in senior management while others benefits from peer mentors A mentor wants to work with someone he/she can respect. They may want to mold the protégé in his/her own image. Bring trustworthiness and the ability to keep confidences to the mentoring relationship

BENEFITS OF STRONG MENTOR-MENTEE RELATIONSHIP

Benefits of a strong relationship Mentors can help you assess a mentee’s strengths and weaknesses, as well as help you develop skills for success and a long-range career plan. Mentor can foster your sense of belonging within the organization, help you navigate the company culture and politics, as well as let you know who the organization’s key players are. A mentor can provide a fresh perspective — a new way of looking at a problem or issue. Look for a relationship in which the mentor is more coach than adviser. Ideally, your mentor will motivate you to do your best work.

Ways to cultivate mentoring relationship Talk with your mentor about mutual expectations for the mentoring relationship how it will work, what it will look like, and how often you’ll communicate. Also be sure not to overburden your mentor by demanding too much time and attention or becoming overly dependent. Set boundaries relating to confidentiality, time commitments, and the areas you mutually feel the mentor can most help you with. You’ll know if the mentoring relationship is working if your mentor encourages your goals, provides constructive feedback, challenges you to grow beyond your perceived limitations, motivates you to join professional organizations that can help you advance, and above all, listens to you and is easy to communicate with.

Ways to cultivate mentoring relationship Start approaching your potential and make plans to meet- Don’t leave the relationship hanging once you’ve gotten someone to agree. Make concrete plans to get together Write down problems or specific requirements you might have regarding the field and subject matter: What would you like to learn? What are you looking for from your mentor How will mentorship look How often would you like to meet? Where? Make the relationship mutually beneficial-think about what you might be able to offer your mentor in return. Show your appreciation-write to your mentor to keep them updated on your progress and remember to thank them for their specific contributions