Alena Kharkavets, FCIA(2012)
Position: Director candidate
Province: Ontario
Primary Practice Area: P&C insurance
Position statement
Our vision at the Institute is financial security for all Canadians. Our actuarial profession is evolving: Technology, climate change and social expectations raise the bar for actuaries, as we continue to deliver for both business and society.
I share the Institute’s vision and would be honoured to contribute more directly to this accomplished organization. Whether your field is life insurance, pensions, investments, property and casualty, or you are a practitioner in other area, I ask for your vote.
Background
My name is Alena Kharkavets. I have proudly worked at Intact (IFC) for the past 17 years, both as an actuary and as a leader in other business units, and I currently serve as Vice President, Supply Chain. I have always been committed to a well-rounded perspective, with decision-making that considers numbers, strategy, operations and people. After foundational years in pricing, I made impact while applying my actuarial skills in strategy, mergers and acquisitions, digital distribution, portfolio management, marketing and now claims.
Volunteer work
I have been involved in advocating for the actuarial profession since my university days. I was President of the Actuarial Students’ National Association (ASNA), when we brought the convention to Winnipeg, and later on served as the President of the Ontario Conference of Casualty Actuaries when we hosted the first full-day conference (and brought 3D printers for attendees to experience first-hand). I was also a volunteer with the Casualty Actuarial Society (CAS) and the CIA: I was part of the CIA Committee on Predictive Modelling and I am currently on the CIA Public Affairs Council.
Commitment to diversity
As a member of the Intact Diversity, Equity and Inclusion Council for a decade, I understand how to build inclusive culture. And last year, my Supply Chain team opened a collision repair service centre in Fort William First Nation. It was a meaningful moment for that community, and we were honoured to be part of it. Grounded in these experiences, I am committed to fostering inclusivity for our members at the CIA.
The Institute’s Board has done a phenomenal job shaping its five-year roadmap. If elected as your CIA Board Director, I would help further these goals. In particular:
- Build the CIA brand, so that the Institute and actuaries continue to be recognized as the go-to authority for actuarial science and risk management.
- Provide knowledge-based services and products, so that, as a member, you have all the resources to equip yourself for the evolving needs of the market.
- Serve the public interest, so that in carrying out our activities we don’t lose our north star: the financial well-being of Canadians.
As someone who was at the forefront of the move to digital distribution, who was taught neural networks by Professor Hinton before they were a thing, and who is now leading the greening of supply chain at Intact, I embrace change. Our profession is in the midst of a pivotal decade. I am eager to support the Institute and our dynamic community of actuaries committed to financial security of Canadians.
2023-Present – Public Affairs Council
2022-23 – International Actuarial Association (IAA) – ASTIN Working Party on Pricing and Reserving Issues Related to COVID-19
Research Council
- 2021 – Project Oversight Group – Evidence-informed public health and safety decisions amid pandemics: the use of actuarial models to inform and protect Canadians, Reviewer
- 2020-22 – Project Oversight Group – Predictive Analytics and P&C Insurance
2020-22 – Predictive Modelling Practice Committee
2014-15 – CIA Exam 6 Canada Syllabus Committee
Accomplishments and volunteering:
- Member of the IFC DEI Council (2014-current); founding member of Womentum, an employee network.
- Opening of Fort William First Nation service centre:
- Member of CIA Predictive Analytics Committee (2020-2022; recipient of CIA 2023 Award of Honour).
- Co-chair of oversight committee for the CIA’s Report: The Use of Predictive Analytics in the Canadian Property and Casualty Insurance Industry (2020-2022).
- Member of the CIA Public Affairs Council (2023-current).
- Member of the CAS Examination Committee.
- Member of Women’s Executive Network’s Canada’s Most Powerful Women: Top 100 Awards Council.
- Recipient of The Insurance Business Canada Broker of the Year for innovation in digital distribution (2021).
- President of Ontario Conference of Casualty Actuaries (2013-2015).
- President of ASNA (2008-2009).
Education
- FCAS, FCIA (2012)
- University of Toronto Global Professional Master of Laws (GPLLM; 2016)
- University of Toronto H.B.Sc. Specialist in Computer Science, Specialist in Actuarial Science (2009)
- Business and Climate Change: Towards Net Zero Emissions, University of Cambridge (a certificate course)
- Public Policy Analysis, London School of Economics and Political Science (a certificate course)
- 4 Seasons of Reconciliation education program by First Nations University of Canada
Question: What do you think of the effectiveness and importance of the CIA in its core functions (e.g., qualification, continuing education, professional development, promotion of the profession, research, standard-setting and professional conduct)?
Answer: The Institute, thanks to the tireless efforts of its volunteers and staff, has done a phenomenal job in serving as both a steward of professional standards and a catalyst for advancing the actuarial field.
- In 2023, the CIA showcased its commitment through nearly 200 publications, covering a wide range of topics from public policy commentary to educational resources and updated standards of practice.
- The Institute has successfully navigated significant industry shifts, such as adoption of IFRS 17, while also leading the charge in advancements in predictive modelling and now climate change. Its proactive approach, exemplified by updated curricula and robust industry engagement, highlights a commitment to preparing actuaries for evolving challenges.
- Furthermore, the CIA’s strategic rebranding and the development of a forward-thinking five-year plan underscore its adaptability and responsiveness to industry needs.
- The active involvement of 858 volunteers (!) yearly underscores the Institute’s vibrant community and its relevance.
The CIA stands as a cornerstone of the profession, driving innovation and upholding standards of excellence. Its pivotal role in ensuring the profession’s relevance and our ability to bolster the financial security of Canadians cannot be emphasized enough.