Competency Framework Workshop - seactuary.com Framework Workshop ... Leadership Relationship...
Transcript of Competency Framework Workshop - seactuary.com Framework Workshop ... Leadership Relationship...
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Competency Framework
Workshop Southeast Actuaries Conference
Friday June 21, 2013
Curtis Robbins, Rich Junker,
Co-Chairpersons
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Introductions
Why did we do this to open the meeting?
Individual focus
Participatory
Leadership
Relationship Management
Curtis and Rich
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Objective of Workshop
Develop and Plan Personal Competency Program for Building Actuarial Skills
Determine how an actuary can use the Competency Framework in daily work
Individual focus
SOA Competency Framework for Actuaries Video
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Workshop Planning
Main points
• Definitions
• Why?
• Where will you be in five years?
• What is your call to action?
What is your company’s call to action?
Group Breakout Session and Recapitulation- Personal Self-assessment and Competency Framework Workbook
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Definitions
Competency
• • A demonstrable ability (the synthesis of skills, knowledge
and behaviors) that contributes to
• an essential outcome (product or service) that defines an
individual as qualified.
Competency framework (model)
• A meaningful organization of competencies that may be
organized by content, role, position or combination and are used
for a variety of purposes and processes.
• The synthesis of the skills, knowledge, behaviors, attitudes and
attributes that contribute to outstanding job performance.
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Source: Society of Actuaries
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Competency Framework (Tool)
The SOA's Competency Framework for
Actuaries is a tool to help actuaries make
decisions related to their individual professional
development and career management plans. It
applies systematic, sound approaches to selecting
professional development opportunities, focusing
on the skills needed to go beyond technical and
specific actuarial analysis.
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Source: Competency Framework.docx
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Why did the SoA Design the
Competency Framework?
Strategic benefits
• Integrate education and career development
• Focus and prioritize continuing education and support to
members
• Foundation for professional development
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Source: Society of Actuaries
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Where will you be in five years?
• Individual contributor
• Manager
• Director or vice president of a department
• C-level executive
• I’ll be retired and living off my travels and Tai Chi practice.
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Source: Society of Actuaries
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What is your call to action?
Looking five years into the future, to be
valued for my professionalism, technical
expertise and business acumen, I will…
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How a Skill Fits to a
Competency--Example
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Business Analytics
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Today’s Desired Outcomes
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Explore
Reflect
Consider
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People with high Career Wellbeing are more than twice as likely to be thriving in their lives overall
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*Adapted from Wellbeing: The Five Essential Elements
Tom Rath and James K. Harter, Ph.D.
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People who are actively disengaged in their careers are nearly twice as likely to be diagnosed with depression, have higher stress levels, and have a greater risk for heart disease
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*Adapted from Wellbeing: The Five Essential Elements
Tom Rath and James K. Harter, Ph.D.
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What is Positive Psychology?
“
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“A branch of
psychology that
studies the
strengths and
virtues that
enable individuals
and communities
to thrive.” Wikipedia
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“We must remember that casting a critical eye on our weaknesses and working hard to manage them, while sometimes necessary, will only help us prevent failure. It will not help us reach excellence…you will reach excellence only by understanding and cultivating your strengths.”
Marcus Buckingham, Now Discover Your Strengths
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Marcus Buckingham, Now Discover
Your Strengths
Cultivate Your Strengths
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36.4
21.3
9.16.6 5.3 4.2
-5.5
-26.8
-40.0
0.0
40.0
Emphasis on
Performance
Strengths
Emphasis on
Personality
Strengths
Emphasis on
Specific Outcomes
of Formal Review
Emphasis on
Specific Suggestions
for Doing the
Job Better
Emphasis on
Skills and
Behaviors Needed
in the FutureEmphasis on
Long-Term Career
Prospects
Emphasis on
Personality
Weaknesses
Emphasis on
Performance
Weaknesses
Each bar presents a statistical estimate of the maximum total impact on employee performance each strategy will produce. The
total impact includes the strategy’s direct impact on performance as well as any indirect impact it may have through employee
attitudes. The maximum total impact is calculated by comparing two statistical estimates: the predicted performance level for an
employee who scores “high” on the strategy and the predicted performance level for an employee who scores “low” on the
strategy. The impact of each strategy is modeled separately.
Change in P
erf
orm
ance
Source: Corporate Leadership Council 2002
Performance Management Survey.
19,000 interviews in 34
companies and 29 countries
36.4
21.3
9.16.6 5.3 4.2
-5.5
-26.8
-40.0
0.0
40.0
Emphasis on
Performance
Strengths
Emphasis on
Personality
Strengths
Emphasis on
Specific Outcomes
of Formal Review
Emphasis on
Specific Suggestions
for Doing the
Job Better
Emphasis on
Skills and
Behaviors Needed
in the FutureEmphasis on
Long-Term Career
Prospects
Emphasis on
Personality
Weaknesses
Emphasis on
Performance
Weaknesses
Each bar presents a statistical estimate of the maximum total impact on employee performance each strategy will produce. The
total impact includes the strategy’s direct impact on performance as well as any indirect impact it may have through employee
attitudes. The maximum total impact is calculated by comparing two statistical estimates: the predicted performance level for an
employee who scores “high” on the strategy and the predicted performance level for an employee who scores “low” on the
strategy. The impact of each strategy is modeled separately.
Change in P
erf
orm
ance
Source: Corporate Leadership Council 2002
Performance Management Survey.
19,000 interviews in 34
companies and 29 countries
A Strengths Orientation
Accelerates Performance
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Group Breakout Discussion Format
How many have completed the assessment?
Twenty minutes in groups of five, varying seniority
Summaries by Table Head chosen by the group
Opinions from the floor
Rich and Curtis observations
Fortified and Inspired, let us Adjourn to Lunch!
L’Chaim!
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Annual Meeting and Spring Meeting
Sessions—Competency Framework
Workbook
The workbook contains worksheets for the 2010, 2011
and 2012 Annual Meeting sessions, with all
professional development offerings listed by their
primary competency
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Comments on Completing the
Self-Assessment and Personal
Development Plan Worksheet
Multiple versions: identifying current versus prior drafts is not easy.
Intermediate save feature is missing
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Resources for Communication
Enter notes obtained from the audience discussion, in the
competency page below that applies
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Resources for External Forces &
Industry Knowledge
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Resources for Leadership
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Resources for Professional Values
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Resources for
Relationship Management & Interpersonal
Skills
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Resources for
Results-Oriented Solutions
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Resources for
Strategic Insight & Integration
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Resources for Technical Skills &
Analytical Problem Solving
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References How to Become a Better Actuary
http://www.soa.org/files/pdf/comp-framework-bubke.pdf
SOA Competency Framework for Actuaries
http://www.soa.org/Professional-Development/Competency-Framework/default.aspx
Road to Success…How the Competency Framework developed
http://www.soa.org/library/newsletters/the-actuary-magazine/2009/june/act-2009-vol6-iss3-eadie.aspx
Self-Assessment Tool and Personal Planning Workbook
http://www.soa.org/professional-development/competency-framework/self-assessment-tool.aspx
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Avinu Malkeinu
http://www.youtube.com/watch?feature=player_detailpage&v=0YONAP39jVE
Sunny Afternoon http://www.youtube.com/watch?v=81ycZbD4bKg
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Related Links
www.soa.org/professional-development/competency-framework/self-assessment-
tool.aspx
Competency Framework
Self-Assessment Tool
Personal Planning Workbook
Competency Framework for Actuaries
Article: Rod Bubke's take on actuarial betterment using the Competency Framework
Article: Nate Worrell discusses how Toastmasters and the Competency Framework can
benefit actuaries
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Please remember to complete the
workshop evaluation
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