ORGANIZATION OF LATINO ACTUARIES

"They gave us best practices from the ground up"

Founded in 2017, the mission of the Organization of Latino Actuaries is to connect with, develop and increase the number of Latino actuaries by promoting the profession and providing guidance, mentorship and networking opportunities. Today OLA (which sounds like “hola” meaning “hello” in Spanish but without the “h” it means “wave”, as represented in its logo) is a forum to connect with fellow Latino actuarial professionals and students through mentorships, internships, resume advice, sponsorships to conferences, and financial scholarships. It offers extensive resources and has awarded over $400,000 in academic scholarships, 100+ conference sponsorships, and facilitated 250 jobs and internships.

“The work of actuaries is very statistical and math-focused, and while we’re pretty good at math and finances we’re not accountants,” explains Carlos Orozco, OLA co-founder and past treasurer. “As we grew from a start-up we got to a point where we needed an accounting team, auditors and a better system of ledgers. We connect our talented candidates with major insurance companies and actuarial consulting firms across the financial industry and in return, they provide sponsorship to our mission. Their strong partnership has allowed us to grow and become who we are today. So we need to make take our financial management to the next level. And that’s where YPTC comes in.”

Orozco emphasizes that YPTC immediately began offering best practices in accounting, audit and financial reporting to make sure that OLA grows sustainably. “They gave us best practices from the ground up to establish an infrastructure that can be here for the long stay,” he says. “They do it politely and in a good-spirited way. It’s been fantastic.”

Orozco also appreciates YPTC’s flexibility in meeting not only the needs of a small but growing start-up nonprofit but also its unique time constraints. OLA doesn’t have any salaried employees and its board members are all volunteers. Between board members’ work schedules, geographical locations nationwide and international travel responsibilities board activity can take place at almost any time of the day or night. “To have YPTC be able to meet with us at a variety of different times is a fantastic partnership.

“As a financial professional I’ve dealt with a variety of consultants and accountants. To be quite honest, working with YPTC has been not just positive, but quite a pleasure,” he adds. “Their experience and recommendations have been useful in helping to shape us from a start-up into a more sustainable state. As a treasurer I can say that relying on their professionalism and experience is invaluable.”

30-YEAR CONGRATULATIONS: “That they’re a backbone to nonprofits for 30 years is fantastic.”

“It’s amazing that their work has continued for such a long time. That tells you how impactful YPTC has been to a nonprofit industry that’s trying to make the world a better place. The fact that they’re a backbone to nonprofits for 30 years is fantastic.”

— Carlos Orozco, Co-Founder

Organization of Latino Actuaries

Chicago, Illinois