In an environment where organizations face mounting strategic, operational and emerging risks, the role of the chief risk officer (CRO) has never been more essential. But what happens when that role is filled by someone with deep actuarial roots?
Philippe Gosselin, FCIA, currently serves as Vice-President, Actuarial and CRO at Facility Association, where he oversees valuation, pricing, financial planning and analysis, and enterprise risk management. His dual role reflects a broader trend: actuaries stepping into strategic leadership positions that extend beyond traditional technical functions.
A broader view of risk
While actuaries are known for rigorous training, technical expertise and disciplined approach to uncertainty, Philippe’s career illustrates how actuarial skills extend far beyond modelling and reserve calculations.
His experience spans roles in pricing, reserving, R&D, planning, marketing, and even leadership in IT and communications at small health-sector businesses. This diversity has helped him develop a broad perspective, which is an essential trait for CROs.
“You need to think outside the box and stay curious about emerging risks and industry shifts. Actuaries are trained to connect the dots between data, regulation, finance and business needs. That makes us natural risk leaders.”
While his current organization is not federally regulated (meaning there’s no requirement for financial condition testing, own risk and solvency assessment or traditional stress testing), Philippe’s actuarial background enables him to lead enterprise risk management with depth and agility. His approach emphasizes alignment with corporate strategy, cross-functional collaboration and fostering a culture of shared accountability.
The value of a generalist
Notwithstanding his position as a leader, Philippe identifies as a generalist, an actuary with a wide-ranging skill set and the curiosity to match. This breadth, he believes, is a key strength for actuaries looking to venture beyond traditional career paths.
While actuaries have historically valued specialization, Philippe believes that generalists (having explored different domains and areas) can thrive in roles like CRO, where cross-functional knowledge and strong communication are critical.
Philippe credits the actuarial exam process and the professional community for preparing him to adapt and lead in dynamic settings. His long-standing engagement with the CIA, Casualty Actuarial Society, and risk forums like the Risk Management Society (RIMS) has helped him stay at the forefront of enterprise risk management, or ERM, thinking.
Working in risk leadership
Philippe finds his current role deeply rewarding, particularly because his organization’s ERM program is tightly aligned with its mission, vision and strategic priorities. Risk management is embedded across the organization, and he takes pride in seeing the language of risk surface in conversations beyond the risk team.
This integration was intentional. Drawing on his diverse background and generalist mindset, Philippe and his team worked to embed risk thinking into everyday decision-making by:
- collaborating with teams across finance, operations and member experience;
- staying attuned to emerging risks and industry trends; and
- fostering a culture where risk is seen not as a siloed function but as a shared responsibility.
Connecting the dots between business strategy and risk has made the ERM team a vital contributor to organizational success.
“When I hear the word ‘risk’ come up in meetings outside the risk team, I know we’ve succeeded in embedding a culture of shared accountability.”
As part of this cultural shift, Philippe also helped strengthen risk governance at the leadership level. While engaging directly with the board of directors and the audit and risk committee was a new challenge, his prior volunteer experience with nonprofit and cooperative boards gave him the perspective to navigate those conversations effectively.
This governance engagement has further reinforced the visibility and credibility of risk management across the organization.
Advice for current and future actuaries
His advice to early-career actuaries is simple but important: explore beyond the conventional. No matter which direction you choose to pursue, broadening your perspective will ultimately make you a stronger, more versatile actuary.
“Just do it. Jump in. It’ll open your horizons and make you a better actuary. I’ve worked in marketing, IT, business development – and each of those roles added to my skill set. When I came back to the insurance sector, I was seen as a well-rounded professional.”
He also emphasizes the importance of visibility. He encourages those in the profession to share their stories to help make actuarial career paths more visible to students and young professionals.
A call to action
Looking ahead, Philippe believes the profession must encourage actuaries to step beyond traditional circles. Volunteering, attending cross-industry events, and engaging with unfamiliar domains can reveal unexpected opportunities and broaden the profession’s reach.
He also sees value in promoting the full spectrum of actuarial capabilities (from technical rigour to strategic insight) and in building partnerships with sectors that may not yet recognize the value actuaries can bring. Fields like climate risk, health care, public policy, supply-chain management, and AI governance increasingly rely on data-driven decision-making and long-term forecasting – areas where actuaries excel.
By embracing these opportunities, the profession can expand its influence and remain relevant in a rapidly evolving job market.
Special thanks to Harry Li, FCIA, for coordinating the interview and developing the questions. Harry is a member of the Enterprise Risk Management Practice Committee (ERMPC), which helps develop resources and tools to ensure that ERM is a viable and relevant practice, while continuing to explore how it is applied across different contexts and environments.
The opinions expressed in this article are those of the interviewee and contributor, and do not represent an official statement of the CIA.