Ramsey Alwin
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Major General Vautrinot Named 2024 Recipient of Soldier-Citizen Award
The Center for Military and Veterans Affairs has named the recipient of the 2024 Soldier-Citizen Award, Major General Suzanne Vautrinot, USAF (Ret.). This marks the first time in the award’s 10-year history that a woman has been named as the winner. Major General Vautrinot will receive the award at the Military Summit on September 11.
Military Background
Over her 31 years of service, Major General Vautrinot was critical to the development of cyberspace as an operational domain within the military. She was instrumental in the establishment and early operation of U.S. Cyber Command with responsibility for offensive and defensive cyber activities for the Department of Defense.
Major General Vautrinot also served in numerous staff positions throughout her service, taking up the roles of joint planner and warfighting capabilities analyst on the Joint Staff, Deputy Executive Assistant to the Chairman of the Joint Chiefs of Staff, Deputy Director, Air and Space Operations, and Strategic Security at Headquarters Air Force. Major General Vautrinot also served as Special Assistant to the Vice Chief of Staff of the Air Force.
Civilian Leadership
Major General Vautrinot leads in other aspects of her life as well, serving as the president of Kilovolt Consulting Inc. and a member of the board of directors for Wells Fargo, ECOLAB, CSX, Parsons, Battelle Memorial Institute, and City of Hope. In these roles, she leverages her expertise to advise on cybersecurity matters.
Recognized by all those who know her as an excellent motivator and leader, Major General Vautrinot embodies what it means to be a Soldier-Citizen. Acting as a leader throughout her history with the military and in her civilian activities, Major General Vautrinot has demonstrated strength and skill on her way to numerous honors extolling her capabilities, including National Defense citations, the Symantec Cyber Award, the Women in Aerospace Leadership Award, the Air Force Association Aerospace Citation of Honor, “Women Worth Watching” from Profiles in Diversity Journal, the Presidential Award for Training, Cyberscoop’s Top “Women in Cybersecurity”, and “50 Politicos to Watch.” She was inducted into the National Academy of Engineering in 2017.
Major General Vautrinot will be honored as the Soldier-Citizen Award recipient at the Center for Military and Veterans Affairs’ annual Military Summit on September 11 at the W Hotel and the National Constitution Center in Philadelphia.
Jodi G. Krausman
PhD, CPA, CFP®, PMP®
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Ethics In Financial Services Insights
Insights and Highlights: AI Regulation Panel Key Takeaways
The panelists discussed the regulation of artificial intelligence (AI) and its impact on the insurance industry. Panelists highlighted the industry's demand for AI guidance and frameworks, leading to regulatory action through new rules and guidance on how AI can be safely integrated into insurance processes.
In recent months, state insurance regulators have responded to the widespread adoption of AI in multiple ways. The National Association of Insurance Commissioners (NAIC) finalized its model bulletin on the use of AI systems by insurers, which establishes a blueprint that state regulators can use to address the topic in their jurisdictions. In addition, on January 17, 2024, the New York State Department of Financial Services (NYDFS) issued a proposed insurance circular letter emphasizing the use of artificial intelligence systems (AIS) and external consumer data and information sources (ECDIS) in insurance underwriting and pricing. This proposal aims to enforce compliance with existing laws and regulations while promoting transparency, fairness, and governance to address potential discrimination and bias risks. The Colorado Division of Insurance has also addressed the risks of ECDIS in life insurance underwriting, and proposed new rules to test algorithms for outcomes that may be unfairly discriminatory.
Summit participants discussed challenges such as underrepresented markets in the insurance space and the need for compliance tools to evolve for novel risks, with an emphasis on balancing innovation while safeguarding consumer interests and ethical considerations. The evolving regulatory framework aims to incorporate risk management and transparency principles consistent with the new technology used, with stakeholder engagement seen as crucial in supporting informed and effective regulation.
The panelists highlighted approaches for navigating the risks posed by algorithms developed by unregulated third-party vendors with respect to ethical considerations, acknowledging challenges associated with proxy factors that may lead to unfair outcomes. Regulatory efforts to establish approaches to auditing models could improve risk management processes. Ongoing efforts were discussed to refine regulatory frameworks addressing ethical issues, with an emphasis on risk management, transparency, and new methodologies for outcome testing.
Audience questions reflected industry concerns about regulatory readiness and governance in AI implementation. Proactive engagement from industry stakeholders was encouraged. The dialogue underscored the complexity of integrating AI into decision-making processes and emphasized the ongoing need for human oversight to ensure good outcomes, consistent with law. Overall, the discussion highlighted collaborative efforts between regulators and industry stakeholders in navigating the evolving landscape of AI regulation in financial services.
To learn more about AI in financial services, you can explore further with research from the Center for Ethics in Financial Services.
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About The College From The President Insights
National Military Appreciation Month
What is the meaning of Memorial Day?
Going back as far as I can remember, Memorial Day in my family has meant remembering the loved ones we have lost. Honoring the memories of beloved family members, including my infant sister who died at only six months of age. Bringing flowers to their graveside on an almost summer and almost always hot day. Celebrating the love of family by spending time together outside of work and school. That is the original, personal meaning I carry with me each Memorial Day.
Of course, as I grew older and gained more life experience, my worldview changed. Only then did I come to realize all the meanings of Memorial Day. Today, I think of the families preparing to bring flowers to the gravesides of their beloved soldiers, men and women who sacrificed their lives in service to our great country. I think of the young – and the young at heart – eager to wear red, white, and blue at local parades.
Today, I think of the families preparing to bring flowers to the gravesides of their beloved soldiers, men and women who sacrificed their lives in service to our great country.
Indeed, there is no one way to celebrate Memorial Day. I sincerely hope, however, that we all take a moment to appreciate those who have protected our freedoms, including the freedom to choose how we will spend the day.
Originally called Decoration Day when it was formalized in 1868, Memorial Day is the final of three designated days to honor the military community in May, following Armed Forces Day and Military Spouse Appreciation Day. In fact, May is National Military Appreciation Month.
What is the meaning of appreciation?
The word appreciation derives from the Latin word for price. I believe it is very important to appreciate that members of the military community are willing to pay the ultimate price for our country.
Perhaps another way to translate this word is to think of appreciation as the act of pausing to consider someone or something not in the literal sense of a price or sum, but rather, in the sense of intangible value. Freedom, sacrifice, leadership, determination, the resiliency of the human spirit – these are ideals we value, and ideals that the best of the military community represent for us.
Latin origins aside, to me appreciation means acknowledgment. National Military Appreciation Month gives citizens the opportunity to acknowledge the current, former, and departed men and women of the military community – including active-duty, guard, reservists, and veterans. If you’re not in this group, you likely know someone who is.
Freedom, sacrifice, leadership, determination, the resiliency of the human spirit – these are ideals we value, and ideals that the best of the military community represent for us.
What does the military mean to financial services?
There’s a strong connection between the military community and the financial services profession – and one we continue to strengthen.
Back in 2021, the U.S. Department of Veterans Affairs reported 200,000 service members transitioned to civilian life per year. As of late last year, that number has increased to 250,000 per year. I am hopeful many will join us by pursuing careers in financial services.
When veterans search for well-paying and fulfilling careers that emphasize service and leadership (careers to which they are well-suited), financial professional and financial advisor consistently appear in the top 10 of many lists (here’s an example). Likewise, in my experience, if I had to come up with a list of the greatest leaders in financial services, there’s no doubt military veterans would make it into that top 10.
As I like to say within our College community, and something that certainly holds true within the military-College community: We are stronger together!
When veterans search for well-paying and fulfilling careers that emphasize service and leadership (careers to which they are well-suited), financial professional and financial advisor consistently appear in the top 10 of many lists
How can you get involved?
I want to take this chance to appreciate and acknowledge the military community directly. Thank you for your service! And thank you for being part of The College – whether you’re a student, an alumna, alumnus, or designee, or just getting started.
Others, please join me in recognizing our colleagues who have military backgrounds, or who have family members who are serving or have served. If you can’t connect in person or by phone, you may share this message or acknowledge them on LinkedIn.
You’ll recall I opened this blog by suggesting you ask your friends about their traditions, and I hope you do. I’ll close by asking about yours: Would you please thoughtfully consider starting a new tradition of honoring those who have strengthened our nation – and our profession – by supporting College scholarships, events, or other efforts in the military community?
The American College Center for Military and Veterans Affairs and Center founding partner and sponsor Penn Mutual invite you to join the cause – to help members of the military community expand their opportunities.
Although we can’t put a price on their contributions, we can acknowledge how much we appreciate and value the military community.