Leading With Empathy

Starting the new year with a focus on leadership, The Actuary connected with Karen Burnett, FSA, FCIA, to discuss navigating the complexities of leadership and communication. Here, Karen addresses leadership styles and the importance of fostering diverse environments of respect and collaboration, including in her work for CAAT Pension Plan in Canada.

Working with a wide array of people is a big part of your current role at CAAT Pension Plan. In terms of your growth journey, how have you adapted to this environment, particularly around leadership and communication?

Throughout my career, I’ve been fortunate to lead and collaborate with a wide range of diverse teams. As I’ve grown in my leadership journey, I’ve embraced the importance of truly understanding and valuing the unique perspectives each team member brings to the table. This has been pivotal in my role as director of pension solutions at CAAT, where I work closely with a variety of employers, each with distinct needs and goals, to enhance retirement outcomes for their employees.

By honing my communication skills, I ensure that every stakeholder feels heard and respected, while also making complex concepts accessible and understandable. This approach not only fosters collaboration but also drives meaningful progress toward shared success.

Video Exclusive: Karen Talks About Her Approach to Leadership in the Actuarial Profession

What style and qualities do you take in your leadership and communication approaches?

My leadership style centers around collaboration, inclusivity and, most importantly, empathy. I believe leadership is about creating a space where every voice is heard and where diverse perspectives are not only welcomed but encouraged to drive better outcomes. Active listening is at the heart of how I lead and communicate, ensuring each person feels valued and understood.

When it comes to communication, I prioritize clarity and transparency, especially when translating complex actuarial insights into meaningful strategies for both technical and nontechnical audiences. My focus is on building trust and respect, which I see as the foundation of strong and cohesive teams. Ultimately, I aim to inspire teams by aligning their individual strengths with shared goals, creating an environment where everyone feels empowered to contribute to something bigger.

How do you see changing technology affecting the role of the actuary?

Rapid advances in technology, particularly artificial intelligence (AI) and big data analytics, are transforming the role of actuaries. We, as actuaries, are increasingly called upon not only for our technical expertise but also for the ability to interpret large datasets and provide insights that drive strategic business decisions. As actuaries, we must adapt by integrating emerging technologies into our practices, becoming more agile in learning and continually updating skill sets. Technology will enable actuaries to take on broader leadership roles where we can apply our unique blend of analytical rigor and business acumen to solve complex, forward-looking problems.

What steps do you take to build on your professional growth in leadership and communication?

Professional growth, especially in leadership and communication, is a journey I approach with intentionality and passion. I believe continuous learning is the key to evolving as a leader, so I immerse myself in professional development opportunities and actively volunteer within the actuarial and pension communities.

Seeking feedback from peers and mentors is another powerful tool I rely on to refine my approach. It keeps me grounded and open to new perspectives, helping me grow in real time.

Through initiatives like leading committees, volunteering with influential organizations like the Society of Actuaries (SOA) and engaging in industry conferences, I have the chance to put leadership and communication skills into action in dynamic, real-world settings. These experiences not only challenge me but inspire me to expand my capacity to lead and communicate with authenticity and impact.

You are on the SOA’s Board of Directors through 2025. What is it like to volunteer with the SOA and lead in setting strategic direction? What challenges have you faced?

Volunteering with the SOA has been both rewarding and challenging. It’s a privilege to contribute to setting the strategic direction of the SOA and the profession, but it requires navigating a variety of viewpoints while remaining focused on long-term goals. Challenges include aligning diverse perspectives across global members and addressing emerging societal and business trends while ensuring our initiatives remain relevant and forward-thinking. Balancing innovation with tradition, especially in areas like education and research, requires careful deliberation and a willingness to adapt.

Being in leadership often requires making difficult decisions and getting buy-in from a diverse set of people with different opinions. How do you approach decision-making and communication in these situations?

My approach to decision-making starts with gathering many perspectives and ensuring that all voices are considered. Transparency, coupled with empathy, helps foster trust even when tough decisions need to be made. I also emphasize being adaptable—knowing when to pivot if new information arises—and maintaining open lines of communication throughout the process.

What advice do you have for actuaries who are leaders or coming into leadership roles?

For actuaries stepping into or already in leadership roles, my biggest piece of advice is: focus on becoming more than just a technical expert—embrace being a well-rounded leader. Yes, mastering the numbers is essential, but what truly sets leaders apart is their ability to translate complex actuarial insights into meaningful strategies that drive business value.

Develop your communication and relationship-building skills early. These are the tools that allow you to not only convey your ideas but to inspire and bring others along with you. Be endlessly curious—expand your knowledge beyond the actuarial sphere to include technology, management and even social issues.

Above all, embrace diversity of thought. The power of a great leader lies in their ability to harness the strengths and perspectives of their team. Collaboration isn’t just beneficial; it’s the key to unlocking innovative solutions and driving lasting impact.

Lead with empathy, openness and a willingness to learn from those around you, and you’ll create a leadership legacy that resonates far beyond numbers.

Statements of fact and opinions expressed herein are those of the individual authors and are not necessarily those of the Society of Actuaries or the respective authors’ employers.

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