Actuarial artistry

by Deborah Mannas

Meet Kim Yeoh, new CFO of Sun Life Asia, passionate DE&I advocate, and artist, as she talks about the actuarial profession, her leadership, her values and her art.

Kim, you’re one of the very few women actuaries who heads a regional actuarial team. And now you’ve just been promoted to regional CFO, another very rare posting for a woman.

I think what’s important to note here is that I’m not the first. There have been a number of women actuaries in very senior roles in the insurance industry in Asia. I’ve been fortunate to count some of them as friends and mentors. And more importantly, I want to make sure I don’t remain one of a few and more women see this path as accessible to them too.

Tell us what drew you to the actuarial profession?

I loved mathematics in school and wanted to study it in university. Actuarial Science seemed like a great opportunity to apply mathematics in a business context. Once I

understood more about actuarial science and particularly its applications in the insurance industry, I was committed. In insurance, we help households ensure financial security and contribute to resilience in society as a whole. Also, the path to becoming a qualified actuary is very structured and well-defined – there are a series of examinations to go

through – it’s challenging but can be achieved with hard work, perseverance and determination, that also made it appealing to me.

Don’t be afraid to speak up. Think about where you can and want to make an impact, then do it. Be proactive and contribute. Be curious. And always be ready to learn.

What does an actuary do? And what’s the best thing for you about being an actuary?

Actuaries use mathematics to solve business problems, most often we would quantify and value uncertain future events and risks. For example, actuaries would be involved in pricing the premiums for an insurance policy and for setting up the appropriate liabilities on the insurance company’s books. We look at the probability of these events occurring at some point in the future and determine what the equivalent value of that is today.

The thing I like most about being an actuary is being able to use mathematics and logic to better understand what’s going on in the business and then using that understanding to explain the story and solve problems. I find it immensely rewarding.

What’s the most challenging thing about being an actuary?

I don’t know that there are specific challenges about being an actuary, it really depends on the particular role or job you have and the environment you’re in. Sometimes, communication can be a challenge as one needs to be mindful about communicating technical issues to non-technical people. Becoming an actuary can be challenging, but the flip side of that is that it is the same for everyone: hard work and merit are rewarded. You don’t get to become an actuary by knowing someone or calling in favours – it’s quite egalitarian in that sense.

What preconceived perceptions did you encounter as you rose in the profession and how did you overcome them?

There is a real sense of community in the actuarial profession, possibly fostered by the qualification process. I don’t think I’ve ever encountered preconceived perceptions within the profession – colleagues saw me as a peer and an actuary before anything else. Where I have encountered assumptions are in the wider business world like many other women. Luckily I often had very strong support from my male colleagues and bosses throughout my career.

You are one of the strongest role models for DE&I that I know of. What made you so passionate about it?

Fairness is one of my core personal values and I get very

very incensed by injustice. Very often it just doesn’t make sense and it simply offends my sense of logic and rationality! Why should women or a particular minority group be treated “less than”? A more equitable and just world is a more prosperous (and rational!) world and we should all be passionate about making that happen.

What are some of the things girls should be aware of if they want to “make it” in the profession?

There is an element of getting in the door of this profession, ie the qualification process I referred to earlier. To make it through that, it is mostly putting in the work, time and effort. Having early awareness of the profession and an interest in mathematics is key here as well. I used to do professional outreach to high school and university students about the profession to encourage a more diverse intake. Once you’re through that door, “making it” is similar to making it in business. You need to have drive and ambition. Have confidence and persevere. Don’t be afraid to speak up. Think about where you can and want to make an impact, then do it. Be proactive and contribute. Be curious. And always be ready to learn.

Can you describe your journey to your leadership roles?

I have been very fortunate in my career with supportive mentors and colleagues who encouraged me to go for opportunities that presented themselves. I have worked in six different countries and I think that has really enriched my career. I saw each move as an opportunity to learn and to contribute. I started my career in Canada with a company called Mutual Life of Canada, which was later acquired by Sun Life, the company I’m with now. I then moved for roles in the United States, the Netherlands, Taiwan, Indonesia and now I’m in Hong Kong. Each move was to quite different roles but built on a foundation of technical skills and business acumen that I developed throughout. As my roles got progressively more senior I realised that success and achievement only happens as a team. It’s truly important to value the people you work with and understand how you can work best together.

I had left Sun Life when I left Canada but rejoined the company when I moved to Hong Kong. It feels like coming full circle.

What gets you truly excited about your job?

I love it when I can see that I have made a positive impact. It can be in many different ways – sometimes it’s in the business results, sometimes it’s in feedback from colleagues and team members where they take on board something I’ve said.

Were you always confident about your career path?

In a way yes, because I have always loved what I do. I can’t say that I mapped it out like this – luck and circumstance has played a big part in how things turned out. But as long as I’ve enjoyed the work I do and enjoyed working with the people I work with, I’ve been really happy and I haven’t doubted myself. I’m really gateful for the opportunities that have come my way.

Research shows that girls often do better than boys in school and university, but drop out of the workforce later in life, especially as they rise through the ranks. What advice would you give girls to help them stay the course?

Have confidence and don’t limit yourself. Be open to different opportunities and different paths. There isn’t just one model of leadership. If women are dropping out because they can’t see themselves in those leadership positions, I’d ask them to articulate what leadership looks like to them. I would also tell girls and women that if they do have to drop out of the workforce, don’t beat themselves up, it’s not their fault. I’m sad when women drop out but I don’t blame them. As a society we collectively need to make it easier for women to stay in the workforce, to advance and contribute. We’ll all be the richer for it. Too often, our expectation of ambition, drive and hunger is a masculine one. We expect that advancement should go to the individuals who’ve expressed the most desire for it but often that may cost us our best talent. We need to encourage qualified candidates to have confidence and apply to rise through the ranks and we need to make it easy for them to do so. I wouldn’t encourage ambition for advancement for the sake of advancement, but I’d like to see ambition to do a great job and to have a bigger impact.

You have two daughters (is that right?) Do they talk about issues they face as girls? Would you be comfortable sharing your words of wisdom to them?

Yes, I have two lovely daughters. I tell them they can do whatever they set their minds to. And whatever they decide to do and be, above all, be kind.

Thank you for the opportunity to share my thoughts! |

Follow Kim on Instagram: @ky_water_colours