Since the earliest days of civilization, people have sought ways to anticipate the future. Merchants weighing the risks of a sea voyage, rulers planning for the cost of war, and farmers preparing for an unpredictable harvest all relied on patterns, probabilities, and informed judgment. The ability to assess risk and prepare for its financial impact has long determined success and survival. As industries expanded and economies grew more intricate, the need for a structured, mathematical approach to forecasting became essential.
This is where actuarial science emerged—not just as a discipline of numbers, but as a powerful tool for shaping decisions that influence economies, industries, and lives. It translates uncertainty into measurable insights, ensuring businesses, governments, and individuals can prepare for the unexpected. From financial security to technological advancements, actuarial expertise plays a crucial role in safeguarding the future.
Few exemplify this expertise as remarkably as Deshni Subbiah. Her career, built on a foundation of mathematical precision and strategic insight, extends far beyond calculations and risk models. With a record of academic excellence, leadership in corporate governance, and a deep commitment to social impact, she has transformed the way businesses assess risk and leverage data-driven innovation.
From Mathematical Prodigy to Boardroom Trailblazer
Deshni has built an impressive career spanning actuarial science, risk management, and corporate governance. With a deep passion for mathematics from an early age, she demonstrated exceptional academic excellence, earning the prestigious Dux Award in both primary and high school. Her dedication to learning continued into higher education, where she completed her degree in Actuarial Science with Cum Laude honors and a Postgraduate Diploma with Distinction.
At just 19 years old, Deshni was recognized as one of South Africa’s Top 100 Brightest Young Minds, an initiative aimed at developing future leaders to address challenges across the African continent. This recognition set the foundation for her leadership journey, and by her twenties, she had already secured her first C-suite executive role. By her thirties, she was serving on multiple Boards, leveraging her expertise to drive meaningful impact. Now, with over two decades of experience, she continues to focus on making a positive difference across Africa.
A qualified actuary, Deshni’s actuarial background provides her with a significant advantage in navigating rapidly evolving technologies such as artificial intelligence, machine learning, and automation. By utilizing actuarial analytics, she helps bridge the gap between technology and strategy, fostering data-driven innovation. She is also a Chartered Enterprise Risk Actuary (CERA), a designation that enables her to assess and manage risks in an increasingly complex and uncertain world.
Commitment to Continuous Learning
Deshni is passionate about continuous education and holds multiple qualifications and designations, including:
- Bachelor of Science (BSc) in Actuarial Science (Cum Laude)
- Chartered Enterprise Risk Actuary (CERA)
- Fellow of the Actuarial Society of South Africa (FASSA)
- Certified Director® (Institute of Directors South Africa)
- Master in Business Administration (MBA)
- Postgraduate Diploma in General Management (Distinction)
- ESG Specialization (Corporate Finance Institute)
- Certificate in Finance and Investments (Institute of Actuaries, UK)
Currently, she is pursuing a Doctorate in Business Administration at the Swiss School of Business and Management, with her research focusing on artificial intelligence in Africa.
Shaping the Future of Accountancy
Deshni serves as a Non-Executive Director on multiple Boards, carefully selecting positions where she can create a meaningful impact. Among these, she is a Board Member of the South African Institute of Professional Accountants (SAIPA), a leading professional accountancy organization dedicated to advancing ethical and skilled accounting professionals in South Africa.
With over four decades of experience, SAIPA upholds high ethical standards, fosters professional development, and supports the evolving needs of the global economy. Recognised by SAQA and affiliated with international bodies like IFAC, PAFA, SASB, and IESBA, SAIPA ensures its members benefit from international mobility and recognition.
Committed to inclusivity and transformation, SAIPA actively works to break barriers in the profession through initiatives such as the National Accounting and Maths Olympiad, university collaborations, and the Project Achiever Programme, which enhances access for previously disadvantaged candidates. To further support aspiring professionals, SAIPA offers financial assistance, including complimentary membership for the first 12 months, for successful candidates.
With a strong focus on digital transformation, business advisory, and continuous professional development, SAIPA empowers its members to be trusted advisors and strategic decision-makers. As the global economy evolves, SAIPA remains committed to shaping the future of accountancy through innovation, inclusivity, and excellence.
Forging a Resilient and Inclusive Economy
Deshni also contributes to organizations that drive financial inclusion, economic expansion, and sustainability, including:
- A financial services company developing affordable and innovative solutions to promote financial inclusion in South Africa.
- An export support company, where she serves as Chair of the Social and Ethics Committee, overseeing projects that create job opportunities and drive economic growth. Given Africa’s reliance on mining, she plays a key role in ensuring that supported projects incorporate sustainable environmental, social, and governance (ESG) practices.
- An insurance company focused on supporting South African farmers, particularly developing farmers who struggle to access affordable coverage. With climate change posing a growing threat to agriculture, this initiative plays a critical role in ensuring food security.
- A company that provides insurance coverage for events such as strikes and riots, offering protection to businesses operating in South Africa and instilling investor confidence.
Through these Board roles, Deshni takes a holistic approach to leadership—considering financial returns alongside societal impact, sustainability, and long-term value creation.
Driving Actuarial Excellence for Global Impact
Beyond her corporate leadership, Deshni actively contributes to the actuarial profession. She was elected Chairperson of the Short-Term Insurance Committee for the Actuarial Society of South Africa, where she provided strategic direction and thought leadership in the sector.
On a global scale, she was selected to join a task force for the International Actuarial Association, working to align actuarial expertise with the United Nations Sustainable Development Goals (UN SDGs). Recognizing that financial constraints often hinder progress in Africa, she contributed to a research paper addressing funding challenges and proposing actionable solutions to drive sustainable development.
Sowing Seeds of Change
Deshni has been deeply involved in initiatives that support education and youth development. She participated in the “Partners for Possibility” leadership program, where business leaders collaborate with school principals to improve educational outcomes. One of the projects closest to her heart involved supporting a school in a community where many children come from child-led households. While the school’s feeding scheme provided meals during the academic term, the children often faced food insecurity during holidays. Deshni assisted in setting up a food garden to extend the feeding program year-round, ensuring that these children had access to nutritious meals.
A Legacy of Purpose-Driven Leadership
With her extensive experience in actuarial science, risk management, and corporate governance, Deshni continues to drive meaningful change in both the corporate and social spheres. Her ability to navigate complex challenges, coupled with her commitment to sustainability and financial inclusion, makes her a transformative leader dedicated to shaping a better future for Africa.
Deshni believes that leaders have a collective responsibility toward their communities, as these are often the very places where their employees and customers come from. She emphasizes the importance of striking a balance between corporate responsibility and community development. While businesses need to generate profits, she asserts that leaders must be mindful of achieving this in a responsible and sustainable manner. By doing so, organizations can continue to operate in harmony within thriving communities, fostering long-term success for both businesses and society.
Turning Regulation into Real Impact
During the time Deshni was conducting her thesis research, South Africa was in the process of implementing risk-based regulations within the insurance sector. A significant amount of time, resources, and effort were dedicated to developing the necessary frameworks and reporting structures to ensure compliance with these regulations.
Her research focused on the value added to stakeholders when risk management is driven by regulation. She found that if risk management is implemented merely as a symbolic gesture to meet regulatory requirements, it can result in significant costs with limited benefits. Deshni emphasized that businesses must ensure risk management is applied in a way that adds real value rather than simply fulfilling compliance obligations.
Throughout her career as a Chief Risk Officer, she remained mindful of this principle, ensuring that risk management initiatives were not just regulatory exercises but practical and effective tools that supported and enabled business success.
Expanding Access and Empowering Women
During her tenure as Chairperson of the Short-Term Insurance Committee for the Actuarial Society of South Africa, Deshni focused on several key areas, with two priorities standing out.
The first was improving financial inclusion within the short-term insurance industry, an objective she pursued through articles and thought leadership initiatives aimed at expanding access to insurance solutions. The second was advocating for greater gender diversity within the actuarial profession. Acknowledging the underrepresentation of women in STEM fields, she sought to lead by example, demonstrating that women can excel in industries traditionally dominated by men. By taking on a leadership role in the actuarial sector, she aimed to inspire and encourage greater female participation in the field.
Actuaries as Architects of a Sustainable Future
Deshni highlighted the significant role actuaries can play in achieving the UN Sustainable Development Goals (SDGs) through their specialized skillset. Actuaries possess strong modeling and analytical capabilities, enabling them to identify trends and make informed predictions based on complex data. This expertise positions them well to understand and develop solutions for intricate global challenges. Given these strengths, she emphasized that actuaries can contribute meaningfully to addressing the obstacles associated with achieving the UN SDGs, using their analytical insights to drive sustainable and impactful change.
Embedding ESG for Lasting Impact
Deshni emphasized that research has demonstrated how companies with strong ESG frameworks tend to perform better, particularly in complex risk environments. To ensure the alignment of ESG goals with a company’s business strategy, she stressed the importance of moving beyond a mere compliance-driven approach of policies, processes, and targets. Instead, ESG considerations should be embedded into the organization’s decision-making processes and corporate culture. In industries with complex risk environments, fostering this mindset ensures that businesses operate responsibly and sustainably, creating long-term value for all stakeholders.
Deshni highlighted that the Board and management play distinct yet complementary roles within an organization. While the Board provides strategic oversight, management is responsible for executing the strategy. She emphasized that for an organization to succeed, the relationship between the Board and management must be built on transparency, trust, respect, and open communication, ensuring alignment in their collective goals.
In her approach to decision-making across various committees, including Audit, Risk, HR, and Remuneration, Deshni adopts a stakeholder-inclusive perspective. She considers the interests of not only shareholders but also employees, customers, suppliers, regulators, and the broader community. This approach ensures that decisions are fair, balanced, transparent, and sustainable, ultimately contributing to the long-term success of the organization.
Power of Ethical Leadership in Driving Economic Growth
Deshni emphasized the significance of the King IV Code on Corporate Governance in shaping ethical business practices in South Africa. As a voluntary code of best practice, King IV places strong emphasis on ethical leadership, identifying an ethical culture as a key outcome of good governance. She highlighted that for a developing country like South Africa, demonstrating strong corporate governance and ethical business practices is essential in fostering business confidence and economic growth.
Beyond the Numbers
For young professionals aspiring to build a career in actuarial science or risk management, Deshni described both fields as excellent career choices that provide opportunities across various industries, including new and emerging fields. She noted that the skills acquired in these disciplines are highly valuable and can be applied globally, allowing professionals to make a meaningful impact in their work. However, she acknowledged that the journey to becoming an actuary is challenging and requires passion, purpose, and a deep commitment to the field. She advised aspiring professionals to cultivate resilience, determination, and a strong work ethic to succeed in these demanding yet rewarding careers.
Merging Ethics, ESG, and Business Excellence
Deshni highlighted the key elements she focuses on when conducting due diligence for business acquisitions and new business setups to ensure long-term success and sustainability. She emphasized the importance of assessing the business environment, financial health, operational processes, systems, and key risks. Additionally, she noted that organizational culture, brand reputation, and leadership capability play a critical role in the sustainability of a business. She stressed that due diligence must be conducted with transparency, integrity, and ethical considerations to ensure sound decision-making.
As a visionary young leader, Deshni aspires to leave a lasting impact within the actuarial profession and the broader business community in South Africa and internationally. She hopes to contribute to addressing some of the world’s most pressing challenges, including inequality, poverty, climate change, and financial inclusion, by leveraging actuarial expertise to develop meaningful solutions. In the business sphere, she aims to cultivate a culture of ethics, where ESG principles are embedded in decision-making, gender equality is championed, and businesses drive positive change within their communities. Ultimately, her vision is to leave the world in a better state than she found it.
