Purposeful Leadership: 2024 Actuary of the Year, Jan Swinhoe

Jan Swinhoe’s journey from a country girl to Actuary of the Year is a testament to her passion, perseverance, and diverse skill set.

A lover of mathematics from a young age, Jan initially imagined herself as a university lecturer. “I especially loved maths and had ideas of being a university lecturer in pure maths, largely so I could wear jeans and a t-shirt to work,” she recalls.

But after finishing a pure maths degree at university, she chose actuarial studies due to the demand for actuaries and the “exotic” sound of a corporate career. Her career began with AMP as a trainee actuary, where she felt she had “hit the big time”.

“I was so excited to work in a high rise building at Circular Quay that had a view of the harbour,” says Jan. “Instead, I should have been more pleased about being sent to Branch Actuaries which did all of the Defined Benefit Superannuation analysis and triennial reviews.”

It was here that Jan found her niche, the purpose of superannuation to the community instantly resonating with her. This connection to something greater than just numbers became a hallmark of Jan’s work, driving her to leadership roles that allowed her to blend technical expertise with a commitment to results – both financial and social.

Expanding horizons

Jan’s impact on the superannuation industry cannot be understated. As Chair of Mercer Superannuation Australia Limited, she oversaw the growth of the fund from $25 billion to $70 billion, a staggering achievement that reflects the quality of the Board and management as well as Jan’s technical prowess and leadership abilities.

When asked about the skills she’s drawn upon, Jan attributes much of her success to the disciplined, rigorous training and sound judgement learned in mathematics and actuarial studies. This, teamed with “genuinely caring about the job that you have and the people you are impacting, whether that is a business outcome or not-for-profit”, have seen her excel.

One of Jan’s most surprising accomplishments? Becoming the first female President of Athletics Australia in its 100-year history.

Speaking about this, as well as her position as Chair of Mercer Superannuation, she says,

“I never sought out either role, nor ever expected they would happen, but I am a better and more rounded person for having taken on those challenges.”

This willingness to step into unfamiliar roles with curiosity and courage is a recurring theme in her career.

But Jan’s career isn’t confined to superannuation. She was also General Manager of Westpac’s Private Bank, where she led one of Australia’s largest private banking divisions for four years. Now, as a Non-Executive Director for Swiss Re Life and Health (Australia and New Zealand), Jan’s expertise also extends to the insurance sector, while her role as Non-Executive Director for Australian Philanthropic Services demonstrates her commitment to giving back.

Looking ahead, Jan’s excitement for the future remains undiminished. With her eyes set on continuing her board career and exploring areas like health outcomes and mental health advocacy, Jan is eager to continue making a difference. “I aim to participate in government policy at some level,” she says, adding that she is also focused on volunteering in the mental health space and is currently undertaking a mental health course to that end.

Thoughts on the profession

One of the challenges she identifies for the profession is the need for actuaries to develop not just technical, but also communication and leadership skills. “It is no longer sufficient to be capable in technical and mathematical areas. Developing excellent communication, persuasion, and judgment skills are also required,” she notes.

The other challenge? Maintaining a sense of community amidst the increasingly wide variety of paths actuaries can follow.

“Ultimately, we have more in common than differences,” she says. “Staying connected to the Institute and contributing to thought leadership can be a very powerful force for good.”

Despite her many accolades, Jan remains grounded, admitting to a fear many wouldn’t expect: walking into large rooms alone. “I could definitely be described as outgoing, but I am absolutely terrified of walking into large groups of people by myself,” she shares. This vulnerability only adds to her relatability, reminding us that even those at the pinnacle of their profession still face personal challenges.

Jan Swinhoe’s story is one of leadership, humility, and a relentless commitment to using her expertise for good. Whether guiding billion-dollar superannuation funds or serving on the board of philanthropic organisations, her work exemplifies the breadth and depth of the actuarial profession – and the impact that can be made when purpose and passion intersect.

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