The “Making Things Happen” column features CAS and iCAS members who serve the associations in many capacities and enrich the volunteer experience for all.
In the complex world of property and casualty insurance, actuaries play a pivotal role in ensuring the financial stability and solvency of insurance companies. One of these dedicated professionals is Julie Lederer, FCAS, MAAA, a P&C actuary working for the Missouri Department of Commerce and Insurance. Lederer’s journey through the actuarial field is marked by her impressive professional achievements, extensive volunteer work with the CAS and a commitment to fostering research and development in actuarial science. In this article, we explore Lederer’s contributions, her role within the CAS and the passion that drives her to volunteer and excel in her profession.
Lederer holds several volunteer roles within the CAS, including membership in the Reserves Working Group and a copy editor for Actuarial Review in the AR Working Group.
As a member of the Reserves Working Group, Lederer reviews papers submitted in response to call paper programs. This involves a rigorous evaluation process to ensure the research is relevant and beneficial to actuaries. She and the other working group members are crucial for advancing reserving research that helps actuaries track changes in reserves and collaborate effectively with peers from other departments such as pricing and underwriting.
As an Actuarial Review copy editor, Lederer ensures that the articles published are clear, grammatically correct and compliant with AP style.
For the Actuarial Review, Lederer is passionate about making actuarial writing accessible and encourages her colleagues to contribute. “Over one-fifth of respondents to the 2023 quinquennial survey said that they are unsure whether they’re qualified to write papers sufficient for CAS publication. This is a concern. Readers, you are qualified,” Lederer says. Her message is clear: The CAS supports authors and offers resources to help them succeed.
Lederer has clear and ambitious goals for her volunteer roles. In the Reserves Working Group, she aims to foster research that is both theoretically sound and easy to implement. “As a regulator who focuses on solvency monitoring, I value the contributions of reserving actuaries and would like to play a small part in moving reserving research forward,” she says. Lederer emphasizes the importance of practical tools, such as code or spreadsheets, accompanying research papers to enhance their usability.
She also highlights the need for clear documentation of actuarial work to comply with relevant actuarial standards of practice and to be understood by management, boards and regulators. Lederer also encourages research paper authors to present their work through various channels that cater to different learning preferences, including webinars, seminars, conferences and microlearning courses.
The Reserves Working Group is currently wrapping up its 2024 call paper program on technology and the reserving actuary. “We received a great collection of timely papers, and working group members have been hard at work over the past few months reviewing drafts and helping authors finalize their papers,” she says. These papers will be published in the E-Forum, and several authors will present their work at the CLRS in September.
Lederer takes pride in the accomplishments of her working group, particularly in fostering high-quality research that addresses contemporary issues in the actuarial field. Her dedication to advancing the profession through rigorous research and practical applications is evident in the initiatives she supports.
Lederer’s journey as a CAS volunteer began in 2014, shortly after she earned her Fellowship. “At this point, it’s safe to say that I might be a lifer. There’s always something fresh and new to explore in publications and research, so I could happily stay with these groups forever,” she reflects.
In addition to her roles in these groups, Lederer serves on the CAS Board of Directors, with her term ending in November 2025. She particularly enjoys her involvement with the board’s Audit Committee, where she reviews the CAS’s audited financial statements and annual tax returns. “As a regulator, I spend a lot of time reviewing annual statements, so this committee is a natural fit for me,” she explains. Lederer’s expertise in solvency monitoring and financial analysis makes her a valuable asset to the committee.
Lederer holds a BS in mathematics and an MBA from the University of Notre Dame, as well as a master’s in statistics from Stanford University. She got her career started at a consulting firm in Chicago, where she worked for four years before returning to her hometown of Kansas City in 2013.
In her current role at the Missouri Department of Commerce and Insurance,
Lederer’s work centers around solvency monitoring. She reviews statements of actuarial opinion and ORSA filings and assists with financial analysis and exams. Missouri’s active participation in the NAIC’s Actuarial Opinion Working Group and the NAIC’s Casualty Actuarial and Statistical Task Force further highlights Lederer’s significant contributions to the field.
Lederer’s dedication to her profession and volunteer work has not gone unnoticed. She recently received a Professional and Leadership Development Award from her department, which provides funding for professional development opportunities. This award allows Lederer to attend additional CAS seminars and further her knowledge in actuarial research.
For Lederer, volunteering is about more than just contributing to the CAS; it is about strengthening the profession and providing valuable opportunities for personal and professional growth. “The spirit of volunteerism is what makes the CAS unique. From the board and executive council downwards, volunteers determine and drive the initiatives that move the CAS forward,” she says.
Lederer believes that volunteering offers younger actuaries early leadership opportunities and a chance to connect with colleagues and make lasting friendships. It also allows her to engage in areas beyond her day-to-day job as a regulator, broadening her perspective, network and skills.
Outside of her professional and volunteer work, Lederer enjoys a variety of hobbies. She loves reading, taking ballet lessons and going to the climbing gym. She also ushers at her church and knits clothing for her cat, despite his apparent lack of enthusiasm for his wardrobe. ●
