History
On Sunday October 25, 1992 Sixty-five men and women came together
from across the United States, the Caribbean, and parts of Canada at the inaugural
meeting of the National Association of Black Actuaries (NABA). In attendance
were 35 designated actuaries, 14 actuarial students, 12 collegians from Howard
and Florida A&M, 3 professors and 2 consultants. This group began to shape
what is now the International Association of Black Actuaries (IABA).
At the second meeting of NABA, in 1994, decisions were made that set forth
the foundation for the organization that exists today. At this meeting, the
name was changed to the International Association of Black Actuaries. The name
was changed after recognizing that there were members from the Caribbean and
Canada, not just the United States. In addition to changing the name, by-laws
were proposed, committees were established, and officers were elected. At the
next year’s meeting in Boston a focus was placed on starting a membership drive,
granting scholarship to collegians, and developing a mentoring program.
The 1996 meeting was a very special meeting. The meeting was moved to the
campus of Howard University. A pre-night reception was added to the agenda
and was attended by Howard students, actuarial students, and experienced actuaries.
At this meeting, the first IABA scholarship was awarded to Christopher Allen
of Morehouse College. The four current standing committees (Communications,
Membership, Mentoring, and Finance) were approved and chairs were named. Lastly,
it was announced that IABA was officially listed as a club of the SoA. The
next three annual meetings of IABA were dedicated to strengthening the mentoring
program, increasing scholarships and membership, increasing visibility in the
actuarial and academic communities, and revising by-laws in preparation for
tax-exempt status.
The annual meetings have not only become a place for black actuaries to network,
but also provide a forum for actuarial students and collegians to meet black
actuaries and learn more about the profession. The annual meeting for the first
four years was a 1-day meeting, held on the Sunday before the beginning of
the Fall SoA Meetings. The meetings were held in the same city as the SoA meeting
until 1996. From 1996 until 2000, the meeting took place in Washington, DC.
Now the annual meeting rotates between major cities where there is a large
concentration of black actuaries. The annual meeting is now a 2-day event including
a Friday night reception, brunch, guest speakers, panel discussions, professional
development workshops, and business sessions.