1. 2014 IABA FOUNDATION ACTUARIAL BOOTCAMP Let’s talk about mentoring
Jamala S. Murray, FSA, MAAA
IABA Director and Vice President
IABA Mentoring Committee Chair
IABA Annual Meeting Planning Committee
July 31, 2014

2. Agenda Introductions Advisor, Mentor, Sponsor Mentoring
Making Connections
IABA’s Mentoring Program

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

4. Advisor, Mentor, Sponsor

5. Advisor, Mentor, Sponsor – Definition
A person with more and deeper knowledge in a specific area
Usually also includes cross functional and multidisciplinary expertise
Mentor
A trusted counselor or guide
Coach
Sponsor
A person who will use their influence to advocate on behalf of another
A person that promotes the interests of another

6. Advisor, Mentor, Sponsor – What Is The Difference?
Can someone be an advisor and not a mentor?
Can someone be a mentor and not an advisor?
Can someone be a mentor and not a sponsor?
Can someone be a sponsor and not a mentor?
Discussion 5-10 mins

7. Advisor, Mentor, Sponsor 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 / referral for a job
Advise on how to approach exams
Support if you fail an exam
Recommending you for a promotion when you pass an exam
discussion

8. Mentoring

9. 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

10. 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

11. Small Group Discussion
What do you expect from mentoring relationships?
Discuss in groups (5 mins)
Share (5 mins)

12. Facts About Mentoring
Chasing or forcing the mentoring connection rarely works
The strongest relationships spring out of real and often earned connections felt by both sides
Mentors continue to invest when mentees use their time well and are truly open to feedback
Mentoring and sponsoring relationships often form between individuals who have common interests or when the junior person reminds the more senior person of themselves

13. Getting Started Know your objections and expectations
What do you want from a mentoring relationship?
What are your career / personal goals?
How can a mentor help you?
What do you offer your mentor?
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

14. Getting Started – Individual Exercise
Write down some thoughts on these questions (5 mins)
What do you want from a mentoring relationship?
What are your career / person goals?
How can a mentor help you?
What do you offer your mentor?
Share (5 mins)

15. Different Types of Mentoring
Peer mentoring
Informal mentoring
Board of Directors

16. Making Connections

17. Meeting New People – Starting a Conversation
Look for an opening to approach
Introduce yourself with a firm handshake
Share your name and school
Have a 30 second “elevator speech” that tells someone who you are
At the IABA meeting, mention that you participated in the bootcamp – it can be a conversation starter!
Ask their name; don’t try to read their name badge

18. Meeting New People – Making Conversation
Ask pointed, well thought out, open ended questions (vs. questions that can be answered with a yes or no)
Ask follow up questions based on their answers
Establish a shared interest based on their answers
Keep it professional; don’t share too much personal information or ask personal questions

19. Meeting New People Discussion – Making Conversation
What questions to ask
What questions not to ask

20. Meeting New People – Making Conversation
What questions to ask
Where do you work and what do you do?
How did you decide on a practice area?
How long have you been involved with IABA?
What questions not to ask
Is your company hiring?
Does your company sponsor H1B?
Will you be my mentor?

21. Meeting New People – Ending a Conversation
Don’t monopolize their time - know when to end the conversation
Thank them for their time with a firm handshake

22. Meeting New People – Ending a Conversation
Did the conversation go well?
Yes?
Good job!
Ask for their business card
Ask if you may follow up with an or phone call on something your discussed
No?
That’s okay – you shouldn’t expect a connection with everyone
Move on and meet other people!

23. Meeting New People
Let’s practice!

24. IABA’s Mentoring Program

25. 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 in the Actuarial profession.

26. 2014 / 2015 Tactical Goals Individual Mentoring
Assign mentors for scholarship recipients and boot camp attendees
Assign mentors to new leaders
Provide mentor resources
Contribute to objectives in the IABA Strategic Plan that relate to mentoring
 Group Mentoring
Annual Meeting presentation
Newsletter articles
Blast s
Establish webinar / podcast mentoring