SIFM Young Professionals represent a growing and dynamic group within our organization. “Spotlight 2022” articles are a series of interviews with some of these outstanding young leaders in the insurance industry.
Here’s what Thomas Roome has to share:
FAVORITE PROJECT
I have worked on projects that were integral in creating a framework from the ground-up and found these projects to be the most interesting. A current AIG example is the separation of the life and retirement business via IPO. The IPO presents some very interesting and complex tax issues. I have been working through the impact of separation to both AIG and the L&R Separation Company, Corebridge Financial Inc.
RESPONSIBILITIES
I am the tax lead on all capital planning initiatives internal and regulatory.
The Global Tax Modeling team I work with deals with tax forecasting and analysis. Within the tax function this is a fairly dynamic role with many special projects which always pose new challenges.
I work with financial planning & analysis, treasury, capital planning, controllership, as well as other tax teams within the organization.
2022 VISION
In the short term, the industry needs to manage the impact that supply chain disruptions have on covered losses (automobiles, building materials, etc).
For established companies, integrating technology with legacy platforms to compete with the insurance start-ups need to be a focus. Longer term the impact of climate change needs to be in the forefront to properly manage risk.
SUCCESS PATHWAY
People who help others for altruistic reasons truly inspire me. I try to demonstrate that both professionally and personally. For example, I am treasurer for an organization that provides food support for those in need. And with 3 kids under 10, I enjoy helping them to learn to be confident, sensitive to others’ needs as well as helping to improve their skills on and off the sports field.
I always knew I wanted to major in business gravitating toward accounting/ finance. During my senior year I par- ticipated in a national tax competition and I was offered a scholarship to the University of Denver. This has had a major influence on my life choices.
Throughout my career, mentors have encouraged me to be confident in advocating for myself and my ideas in team meetings and more broadly with senior leaders. This has led me to tackle new opportunities and become a results-oriented team player who stays calm in stressful situations.
With additional hands-on experience and observing leadership in practice by mentors and colleagues, I gained insight on how to be a good leader: it is critical to constantly communicate and not be afraid to challenge consensus. I found that most successful managers are active listeners, candid and honest. These are concepts I try to convey to younger colleagues.