Apr 16, 2024
Transitioning from being an expert to being a leader can be a challenging process for actuaries. Actuaries are known for their technical expertise and analytical skills, which they have honed through years of studying and passing exams. However, when they are promoted to leadership positions, they often struggle to step back from the technical work and trust others to handle it.
In this episode, we dive into a conversation with Julia Lessing, a fellow of the Institute of Actuaries, Australia, and principal actuarial director of Guardian Actuarial, about building management and leadership skills that go beyond simply reading books or studying theory. Some of the insights shared are the need for actuaries to let go of control and trust their team members, as well as the importance of active listening and empathy in building strong relationships, the value of learning from mistakes, and the need for patience and flexibility in career progression. We show that leadership can be broken down into a set of micro-skills that can be learned, even when these skills don’t come about naturally.
About the guest:
Julia Lessing is a fellow of the Institute of Actuaries, Australia, with 20 years of experience as a consulting actuary. She is also a certified organizational coach and an experienced counselor. Julia established Guardian Actuarial in 2015, where she is the principal actuarial director. She is passionate about fostering forward-thinking leaders in the actuarial industry and runs the Guardian Actuarial Leadership program to help actuaries build their management toolkits and leadership skills. Julia is a mother of four adult children and is actively involved in her community as a qualified counselor for Lifeline and an authorized foster carer.
Resources:
LinkedIn: https://www.linkedin.com/in/julia-lessing/
Website: https://www.guardianactuarial.com.au/
Guardian Actuarial Leadership Program: https://www.guardianactuarial.com.au/ga-leadership-program
Podcast: https://www.guardianactuarial.com.au/podcast
Recommendations:
Book “Courage to Lead” by Daphna Horowitz on Amazon
Link: https://www.amazon.com/Courage-Lead-Leadership-Lessons-Kilimanjaro/dp/1920292284
Book “The Improbable Entrepreneur: A story about the other 99.9% of startups” by Ilan Leas
Link: https://www.amazon.com.au/Improbable-Entrepreneur-story-about-startups-ebook/dp/B09WCVWJTK
Watch full episodes of “Leadership Live” podcast on Youtube
Link: https://www.youtube.com/user/daphna1231
Timestamps:
3:40 The gap between technical skills and management skills
5:09 Importance of feedback in leadership
11:27 Challenges actuaries face when transitioning into leadership
13:00 We’re not taught how to manage people at “actuary school”
14:05 Mindset shift: stepping back and teaching junior team members
15:17 Building confidence and trusting people to learn from mistakes
19:45 Learning skills from general life experiences
24:48 Integration of leadership skills with actuarial expertise
26:14 Communication micro-skills
32:18 Careers are not linear
38:10 The importance of networking and building relationships
39:21 Two books: motivation and sparking resources for future development
42:03 Can AI take on the role of leadership?
45:10 Connect with Julia Lessing
Actuaries often struggle with transitioning from expert to leader, particularly in letting go of control and trusting their team members.
Developing leadership skills requires active listening, empathy, and the ability to understand and connect with team members on an individual level.
Actuaries should embrace the non-linear nature of their careers and be open to sideways steps or additional experiences that can broaden their skill set.
Building strong relationships and networking with colleagues and industry professionals is crucial for career growth and advancement.
Actuaries should apply the time value of money concept to their careers, understanding that progress and success take time and patience.
Get in touch with Daphna Horowitz:
Official website:
LinkedIn:
https://www.linkedin.com/in/daphnahorowitz/
Youtube:
https://www.youtube.com/user/daphna1231
Facebook:
https://www.facebook.com/PEACSolutions/