Ana P. Nunes, FCIA(1994)
Director candidate
Primary practice area: Pensions
Secondary practice areas: Enterprise risk management, Investment
Employer: APN Advisory Canada
Province: Ontario
CIA Legacy Award: Award of Honour (2025)
Position statement
As an actuary, investment expert and governance professional with over 35 years of experience in the pension and retirement savings industry, I am deeply committed to advancing the actuarial profession in Canada. My career has been dedicated to ensuring the sustainability and effectiveness of retirement programs, with a strong focus on risk management, governance and innovation. I am eager to contribute my expertise to the CIA as a Board member to help shape its strategic direction and further strengthen its role in supporting actuaries across the country.
My extensive career spans consulting, pension administration, investment oversight, and governance. As the Founder and CEO of APN Advisory Canada, I advise pension plan boards and sponsors on retirement savings strategies and leading governance and risk management practices. I also currently serve as Chair of the Board of Trustees for the MoveUP/ICBC Pension Plan and as a Corporate Board Director for the Alberta Local Authorities Pension Plan. Prior to this, I held several executive roles at OMERS Administration Corporation, where I led teams responsible for risk management, pension and actuarial services, and third-party investment management; I dealt extensively with the OMERS Administration Corporation Board and the Sponsors Corporation Board in those roles.
These experiences have honed my ability to integrate actuarial expertise with strategic decision-making and leadership.
My governance credentials include earning the ICD.D designation from the Institute of Corporate Directors and serving on various boards and committees focused on finance, audit and risk. I have led the development of risk management frameworks, business continuity policies and governance best practices, which are critical areas for the actuarial profession as it navigates emerging challenges. I am also currently Chair of the CIA’s Enterprise Risk Management Practice Committee.
If elected to the CIA Board, my priorities will focus on three key areas:
- Enhancing actuarial leadership in risk management and governance: The actuarial profession plays a crucial role in managing financial risks, yet there is an opportunity to further elevate our leadership in governance and enterprise risk management. I will advocate for expanding CIA educational offerings and thought leadership in these areas to ensure actuaries remain at the forefront of decision-making in pensions, insurance and investment management.
- Supporting actuaries in an evolving regulatory and economic landscape: With increasing regulatory scrutiny, economic uncertainties and climate-related risks, actuaries must be well-equipped to adapt to change. I will work to strengthen the CIA’s role in providing guidance, research and practical tools to help actuaries navigate evolving funding, solvency and risk requirements, particularly in the pension and investment sectors.
- Promoting diversity and inclusion in the profession: As a leader in Women in Pensions, I am committed to fostering diversity within the actuarial profession. The CIA has made important strides in this area, and I will support initiatives that encourage diverse perspectives, mentorship opportunities and outreach efforts to attract the next generation of actuarial professionals.
The Institute is at a pivotal moment as it adapts to an evolving profession and changing industry landscape. With my deep actuarial expertise, governance experience, and passion for advancing the profession, I am eager to contribute to the CIA Board’s work in shaping the future of the actuarial practice in Canada.
2021-Present – Enterprise Risk Management Practice Committee
- 2024-Present – Chair
- 2021-24 – Member
2023-24 – Drafting Entity for a CIA Response to OSFI on Draft Guideline E-21 – Operational Resilience and Operational Risk Management
2023 – Drafting Entity for an advice statement to CAPSA on its Guideline on Risk Management for Plan Administrators, Chair
2007-10 – Pension Plan Financial Reporting Committee
In addition to board experience above, I serve on the Board of Achēv, a non-profit organization, chairing its Finance and Audit Committee and previously its Strategic and Risk Management Committee.
I have volunteered with the CIA and in the pension industry throughout my career. I currently chair the CIA’s Enterprise Risk Management Practice Committee and previously contributed to the Pension Plan Financial Reporting Committee. My broader industry contributions include recently serving on the Canadian Association of Pension Supervisory Authorities’ (CAPSA) Industry Working Group, which developed national risk management guidelines for pension plan administrators.
Committed to community engagement, I am a leader within Women in Pensions and have volunteered with Junior Achievement, Habitat for Humanity and the Daily Bread Food Bank, along with raising donations for the United Way and the Canadian Cancer Society.
I am also an instructor for Humber College’s Pension Plan Administration Certificate Program.
My dedication to professional excellence and mentorship aligns with the CIA’s mission and future aspirations.
What do you think of the effectiveness and importance of the CIA in its core functions?
The CIA has continued to successfully evolve in delivering on its core functions, particularly with the establishment of a specifically Canadian education approach, with our own qualification exams and a multi-path approach to obtaining an ACIA/FCIA, including through the University Accreditation Program.
Our continuing professional development requirements also emphasize the importance of actuaries remaining up to date on the latest research and developments applicable to their practice areas. The CIA has demonstrated an ongoing focus on developing and publishing standards of practice for newer practice areas, such as enterprise risk management (with the addition of Part 8000 to the Standards of Practice in 2023) and the development of standards for climate-related actuarial work (underway). It is critical that our profession continues to develop and update our professional standards, including relevant guidance materials, to ensure that all work performed by actuaries is of high quality and is seen by our clients to follow rigorous standards and requirements.
With regards to research, promoting the profession and protecting the public interest, the CIA has significantly increased its external communication focus in recent years to enhance visibility of the profession, to help the public see us as experts in our field(s), and to provide valuable feedback to governments and regulators with our view on how the public’s interests (including their financial security, for example) can be best protected.