The Society of Actuaries says it has resolved an employment dispute with a former executive director through a confidential arbitration process.
The individual involved in the dispute, Sarah Sanford, was executive director of the SOA, Schaumburg, Ill., from 1999 to 2006.
The SOA and Sanford are declining to comment on the nature of the dispute, but the SOA says that an award was made in favor of Sanford, and that all appeals periods are now closed.
“Appropriate insurance coverage and reserves were in place,” SOA President Cecil Bykerk says in a statement. “No member services or programs have been or will be affected. We have put in place policies and procedures intended to ensure that similar issues do not arise in the future.”
Sanford says she welcomes the arbitration decision but is sorry that the dispute had to be resolved through arbitration.