Keith Dick is the Managing Director of International Consulting Actuaries, LLC.
A. Keith Dick, FSA, FCIA, MAAA
Keith has over 30 years of experience in international compensation and benefits, and has worked and lived in the US, Canada and Latin America. He specializes in developing global policies and strategies to optimize the design and operation of international compensation and benefit plans.
He has had extensive experience in both the corporate and consulting environments, in his positions as a corporate human resources executive with a Fortune 7 company, and as a consulting actuary, including managing a consulting office in a foreign location.
In his corporate role overseeing International Benefits for Philip Morris, Keith was responsible for:
- Setting up a newly-created Corporate function overseeing compensation and benefits for over 90,000 employees in three operating companies in over 65 countries outside of the US. A primary consideration was streamlining the compensation and benefits function and reducing the associated costs by leveraging global relationships with vendors, forging appropriate alliances (including setting up the first captive insurance company devoted exclusively to international employee benefits) and formulating global compensation and benefits policies that, to the extent possible, dramatically reduced compensation and benefits costs while leaving the existing levels of compensation and benefits unchanged.
- The HR aspects of the management of over 120 pension plans, with total pension fund assets of over $1.5 Billion. In reviewing this area in particular, he was able to identify over $34 million of annual cost savings without reducing promised benefits, and greatly reduced the company’s risk exposure by reviewing funding and governance policies, including instituting trustee training and education.
- Corporate approvals of all compensation and benefit plan changes, based on Total Compensation criteria, with annual studies in 14 major countries.
- Managing vendor relationships and significantly reducing the cost (60+%) of regular, ongoing administrative functions associated with compensation and benefits, through a “preferred provider” network of vendors including Towers Perrin, Hewitt, Hay and others.
- Designing and implementing the Compensation and Benefits portion of Philip Morris’ Human Resource Strategic Plan, which identified issues and opportunities by topic and by country and forecasted the expected financial effects for the next 5 years, enabling the department to prioritize projects that aligned with the corporation’s strategic plans.
In his previous consulting position as the head of Ernst & Young’s Global Compensation and Benefit subject matter area within Global Employment Solutions, Keith was active in E&Y’s Transaction Services practise and is heavily involved in multi-country due diligence and post-merger integration activities for our
In his consulting career prior to joining Ernst & Young, Keith was a Principal at Towers Perrin, where he worked in several countries assisting clients in optimizing the management of their global compensation and benefits functions
In Brazil he was the Manager of Brazil Employee Benefit Services as well as being the Manager of the São Paulo office; in Chicago he was the Senior Actuary of the Chicago International Consulting Office; and in Montréal he was the consulting actuary for major Canadian companies.
Before joining Towers Perrin, Keith was a consulting actuary in Canada for other major international consulting firms and worked and lived in Montréal and Calgary.
Keith has an Honors B.Sc. in Mathematics from the University of Calgary, and is a Fellow of the Society of Actuaries and the Canadian Institute of Actuaries, and a Member of the American Academy of Actuaries.
He is currently located in ICA’s Stamford office.
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