Riccardo Giaccari, FCIA(2018)
Director candidate
Primary practice area: Pensions
Employer: BCE Inc.
Province: Quebec
Position statement
The CIA plays a critical role in shaping actuarial practice, advancing research, and supporting members across diverse practice areas. As an experienced actuarial leader with expertise spanning both corporate and consulting environments, I am eager to contribute my knowledge, strategic vision and leadership experience to the CIA Board.
With extensive experience in actuarial practice, I have developed a deep understanding of the challenges and opportunities facing our profession. In my current role as Director, Pension and Actuarial Services at Bell Canada, one of Canada’s largest corporations, I play a significant role in pension strategy as part of the leadership team overseeing $20 billion in pension assets and liabilities across more than 25 registered and non-registered pension plans. Our leadership team works closely with executive leadership, pension oversight committees, regulators and external consultants to develop and implement effective pension funding strategies, risk management initiatives and long-term sustainability plans.
Prior to my corporate leadership role, I spent several years in consulting, working with clients across industries to design, manage and optimize their pension programs. This dual perspective – starting as an actuary advising clients and now working internally within a corporation – has given me a deeper understanding of how actuarial work supports executive decision-making, corporate strategy and stakeholder interests. The transition from providing external guidance to shaping internal strategy aligns with the CIA’s role in advancing the profession, ensuring that actuarial expertise continues to inform strategic decision-making and drive long-term sustainability.
Vision for the CIA
If elected to the Board, I will focus on three priorities:
- Strengthening thought leadership and research
The actuarial profession must continue to lead in research-driven innovation, particularly in areas such as long-term financial sustainability, risk management and regulatory developments. My experience on the CIA Research Council (and on the Research Oversight Committee of Club Vita, the longevity data analytics company) has given me insight into the importance of evidence-based decision-making. I will work to expand research initiatives that enhance our profession’s credibility and practical influence in both the private and public sector.
- Expanding member engagement and professional development
As actuaries, we must continuously evolve in response to industry and economic changes. I will advocate for initiatives that support professional development, knowledge sharing and mentorship opportunities, ensuring that the CIA remains a hub for learning and career advancement. Whether through enhanced networking opportunities, new educational resources or a stronger focus on emerging practice areas, I want to ensure that the CIA provides value to actuaries at all career stages.
- Driving innovation and adaptability in actuarial practice
The actuarial profession is rapidly evolving due to technological advancements, artificial intelligence and increasing regulatory complexity. As someone who has worked in both the corporate and consulting sectors, I understand the need for adaptability. I will support efforts to modernize actuarial tools, promote cross-disciplinary collaboration and ensure that the CIA is proactive in addressing industry shifts.
Commitment to the profession
With actuarial experience in both consulting and corporate leadership, I bring a broad, strategic perspective to the challenges and opportunities facing our profession. I am passionate about advancing actuarial research, fostering professional growth and ensuring that the CIA remains a leader in shaping actuarial practice in Canada and beyond.
It would be an honor to serve as Director on the CIA Board, and I look forward to the opportunity to contribute.
2022-Present – Pension Plan Financial Reporting Committee
2019-Present – Research Council
Beyond my corporate work, I play an active role in shaping actuarial research and guidance. As a member of the CIA’s Research Council, I help drive actuarial research priorities and ensure that emerging issues are addressed through high-quality studies and analysis. Additionally, my tenure on the CIA’s Pension Plan Financial Reporting Committee (PPFRC) has strengthened my commitment to advancing actuarial practice. The PPFRC is instrumental in developing and interpreting actuarial standards related to pension financial reporting, advising on valuation methodologies, engaging with regulators and monitoring emerging trends. My involvement in this committee allows me to contribute directly to the evolution of pension reporting standards that impact actuaries across Canada.
What do you think of the effectiveness and importance of the CIA in its core functions?
The CIA plays a crucial role in maintaining the actuarial profession’s credibility and relevance. Its education and qualification pathways ensure a high standard of technical expertise, while ongoing professional development keeps actuaries equipped to navigate evolving challenges. Standard setting and professional conduct guidelines reinforce ethical practice, protecting public trust.
Promotion of the profession and international relations enhance the global recognition of Canadian actuaries, positioning them competitively in an increasingly interconnected world. Research initiatives allow actuaries to contribute to emerging areas such as artificial intelligence and climate risk, ensuring the profession remains at the forefront of financial and risk management.
However, there are areas for improvement. Member engagement can be strengthened, particularly in non-traditional actuarial roles, to ensure the CIA remains relevant across diverse industries. Additionally, further discussion and guidance on navigating the alignment of the public interest with organizational objectives could enhance clarity, particularly in corporate environments where actuaries play a key role in risk and financial decision-making.
Overall, the CIA effectively upholds its core functions but continuous adaptation is necessary. By reinforcing its leadership in actuarial education, research and policy influence, it can further solidify its impact and ensure its members are prepared to address emerging risks in an evolving professional landscape.