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Kevin Aselstine Full CV December 2015

Kevin Aselstine Full CV December 2015

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Kevin J. Aselstine
1252 Old Colony Road
Oakville, Ontario
L6M 1J8
(905) 825-9145 (home)
(647) 200-2712 (cell)
kevin.aselstine@gmail.com
Prior Board Experience:
External Director, JEA Inc. (April 2015-present)
 established over 30 years ago, JEA is a small private company and industry leader in the
provisionof pensionadministrationsolutions,mostlyinthe publicsector
President and Chair of Towers Watson Canada Inc. (2010-2012)
 accountable for all aspects of the Canadian operations of Towers Watson Inc, a global human
resource management firm with annual revenues in excess of $2.5 billion US and 14,000
associates in 80 locations
 Canadian operations had revenues of $200 million+ Cdn, with approximately 800 associates in 4
full service locations (Toronto, Montreal, Calgary and Vancouver)
 major accomplishments: successful design and implementation of numerous merger/integration
initiatives in Canada as part of the TP/WW merger effective January 1, 2010, including:
o consolidation of all predecessor legal entities and related legal and regulatory approvals;
o management of client communications and retention efforts related to the corporate
merger and amalgamation of the legal entities;
o oversight management of the determination and payment of $100 million repatriation
dividend to the upstream parent company;
o talent assessment and selection of the post-merger Canadian leadership team;
o design and implementation of Canadian leadership succession plan for Canadian line of
business and geography senior leadership group;
o harmonization of job structures and position leveling, pay, pension and health benefits,
and performance management programs covering all Canadian associates, including
related change management and communication strategies;
o consolidation of 8 physical locations across Canada into 4 Canadian full service offices;
and
o design and implementation of Future State Finance and HR systems and processes for
Canada, serving as Steering Committee Chair for the global pilot
 significant results: retention of 100% of key target clients; very limited regrettable turnover;
revenue growth of 0%, 5% and 7% respectively in merger years 1, 2 and 3 while
maintaining/improving contribution margins of 40%+; stable/increasing associate engagement
levels as measured by full/spot surveys throughout
Vice-Chair, Vice-President and Director of Towers Perrin Inc. (2009)
 prior to TP/WW merger, served as Vice-Chair and Director for Towers Perin Inc, which had
oversight management responsibilities for the Canadian operations of Towers Perrin, a privately-
held global human resource management consulting firm with revenues in excess of $1.2 billion
US and 7,000 associates
 Canadian operations had revenues of $120+ million Cdn, and 550 associates
 major accomplishments/significant results: client revenues and profitablity maintained
throughout Canadian operations through a period of severe economic downturn and resultant
significant shrinkage in Canadian consulting market, coupled with coincident successful
completion of all IPO/merger readiness exercises for Canada, all while maintaining a high degree
of employee engagement and retention through a period of organizational uncertainty
Member, Towers Perrin Quality and Audit Committee (2006 - 2008)
 a group chartered by the Towers Perrin Board to work with the CFO, Internal and External
Auditors to review financial reporting to Principals (shareholders), and to review, oversee and
amend financial controls and quality processes as required, paralleling the Audit Committee
function in a public firm
 major accomplishments/significant results: significant changes were being considered and
implemented with respect to financial reporting (Sarbanes Oxley) which did not apply to TP as a
privately-held firm; TP had communicated its intent to issue an IPO and this committee was given
the mandate to define a path to Sarbanes Oxley compliance as part of an IPO readiness plan; TP
passed the last self-imposed Sarbox compliance readiness test in conjunction with internal
publication of our Q2 2008 financial results, just as the global IPO market collapsed during the
financial crisis in the fall of 2008, but the Sarbox readiness positioned us well for the eventual
merger with public firm Watson Wyatt in 2009
Member, Towers Perrin Principal Promotions Committee (2000 - 2003)
 a committee of 12 senior leaders from across diverse geographies and lines of business selected
by the Towers Perrin Board to identify, review and recommend candidates to be elected as new
Towers Perrin shareholders
 major accomplishments/significant results: essential to realization of Towers Perrin's growth,
succession planning and key talent retention objectives; successfully vetted approximately 200
candidates for promotion, all of whom were appointed shareholders by the Board; made
substantial improvements to the application and client feedback portions of the review process,
and implemented an education program to clarify shareholder nomination requirements for "on-
track" pre-Principals aimed at greater transparency, which was very well-received
Executive and Other Work Experience:
Towers Perrin/Towers Watson (September 1995 to December 2012):
Managing Director, Canada (Towers Watson Canada Inc), July 2009 to December 2012
 matrix management of 4 geographic offices (Montreal, Toronto, Calgary and Vancouver) across 8
lines of business (Retirement, Health and Group Benefits, Administration, Talent and Rewards,
Executive Compensation, Investment Services, Risk Financial Consulting and Brokerage)
encompassing all aspects of operations (P&L, customer satisfaction, cross-LOB sales, marketing
and human resource management), with annual human resource management consulting
revenues of $200 million+ Cdn and approximately 800 employees
Managing Principal, Toronto (Towers Perrin Canada Inc), January 2005 to June 2009
 similar responsibilities to above for the Toronto operations of Towers Perrin, covering revenues of
$70 million and approximately 275 employees
Toronto Retirement Business Leader, January 2001 to December 2004
 similar responsibilities to the above, but specific to the Retirement line of business only,
representing $40 million of annual consulting revenues and approximately 125 staff
Principal, Senior Consultant and Account Director, and Retirement Unit Leader, September
1995 to December 2000
 provide strategic consulting advice to clients, and manage large cross-LOB service delivery
teams for a number of engagements across diverse industry sectors
Alexander Consulting Group (now part of AON Hewitt) October 1987 to August
2005:
 held a number of consulting and leadership positions with increasing responsibility within the
London, Ontario and Toronto offices, culminating in positions as Retirement Business Leader for
Toronto and ultimately Toronto Managing Principal, with similar responsibilities to above
experience with Towers Perrin/Towers Watson, but smaller scope
London Life Insurance Company June 1978 to October 1987:
 hired as actuarial trainee in management rotational training program covering numerous areas of
operations (pension, large case benefits brokerage, controller’s office, strategic planning, product
design, valuation etc.)
 earned fellowship in Canadian Institute of Actuaries and American Society of Actuaries and held
positions of increasing responsibility, eventually as the Consulting Actuary for National Accounts
supporting marketing and sales of group insurance products for large clients serviced by the
London Life captive brokerage operation
Part-Time Lecturer, Department of Statistical and Actuarial Science (DSAS)
Program, Western University1981 to 1984, and 2012 to present;and member of
DSAS industry Curriculum Advisory Board 2010 to present
 currently teach Mathematics of Finance and Corporate Finance to 2nd and 3rd year
undergraduates in both the Actuarial Science and Bachelor of Management and Organizational
Sciences (BMOS) programs
 developing curriculum and scheduled to teach 2 modules (Business Communication and
Leadership) for new Western Graduate Diploma Program (GDip): Business Skills for Actuaries
and Financial Professionals being launched Winter 2016
 managing outreach to employer/industry contacts whose associates fall in the target market for
program enrollment as part of the GDip marketing committee
Past Member and Chair of Pension Commission of Ontario (PCO, now FSCO)
Actuarial Advisory Committee
 member and eventual chair of PCO Actuarial Advisory Committee, providing guidance and advice
respecting legislation, regulation, administrative policy and procedures in respect of registered
pension plans in Ontario for the regulatory authority PCO (now FSCO)
Academic Credentials:
 Honours BSc. In Actuarial Science with a minor in Economics (with distinction), University of
Western Ontario, June 1978
 Fellow of the Canadian Institute of Actuaries (FCIA) and Fellow of the Society of Actuaries (FSA),
1982
 Graduate of the ICD/Rotman Directors Education Program November 2013
 ICD.D designation attained March 2014
Volunteer Activities:
 United Way of Greater Toronto Campaign Cabinet (2007 - 2009) and Major Gifts Cabinet (2010 -
2011)
 Western University Statistical and Actuarial Science Curriculum Advisory Committee
(development of Graduate Diploma program: Business Skills for Actuaries and Financial
Professionals pending implementation Winter 2016); 2010 to present
 University of Toronto Rotman School of Business Advisory Group (assisting with development
and marketing of a new executive training program focused on partner level CRMs in professional
services firms); 2013
 Member of Institute of Corporate Directors (ICD) West GTA Chapter Strategic Planning
Committee and Chair of chapter Marketing Committee (responsible for development and delivery
of continuing education and networking opportunities for ICD current and prospective members in
the GTA region); July 2014 to present
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Kevin Aselstine Full CV December 2015

  • 1. Kevin J. Aselstine 1252 Old Colony Road Oakville, Ontario L6M 1J8 (905) 825-9145 (home) (647) 200-2712 (cell) kevin.aselstine@gmail.com Prior Board Experience: External Director, JEA Inc. (April 2015-present)  established over 30 years ago, JEA is a small private company and industry leader in the provisionof pensionadministrationsolutions,mostlyinthe publicsector President and Chair of Towers Watson Canada Inc. (2010-2012)  accountable for all aspects of the Canadian operations of Towers Watson Inc, a global human resource management firm with annual revenues in excess of $2.5 billion US and 14,000 associates in 80 locations  Canadian operations had revenues of $200 million+ Cdn, with approximately 800 associates in 4 full service locations (Toronto, Montreal, Calgary and Vancouver)  major accomplishments: successful design and implementation of numerous merger/integration initiatives in Canada as part of the TP/WW merger effective January 1, 2010, including: o consolidation of all predecessor legal entities and related legal and regulatory approvals; o management of client communications and retention efforts related to the corporate merger and amalgamation of the legal entities; o oversight management of the determination and payment of $100 million repatriation dividend to the upstream parent company; o talent assessment and selection of the post-merger Canadian leadership team; o design and implementation of Canadian leadership succession plan for Canadian line of business and geography senior leadership group; o harmonization of job structures and position leveling, pay, pension and health benefits, and performance management programs covering all Canadian associates, including related change management and communication strategies; o consolidation of 8 physical locations across Canada into 4 Canadian full service offices; and o design and implementation of Future State Finance and HR systems and processes for Canada, serving as Steering Committee Chair for the global pilot  significant results: retention of 100% of key target clients; very limited regrettable turnover; revenue growth of 0%, 5% and 7% respectively in merger years 1, 2 and 3 while maintaining/improving contribution margins of 40%+; stable/increasing associate engagement levels as measured by full/spot surveys throughout Vice-Chair, Vice-President and Director of Towers Perrin Inc. (2009)  prior to TP/WW merger, served as Vice-Chair and Director for Towers Perin Inc, which had oversight management responsibilities for the Canadian operations of Towers Perrin, a privately- held global human resource management consulting firm with revenues in excess of $1.2 billion US and 7,000 associates
  • 2.  Canadian operations had revenues of $120+ million Cdn, and 550 associates  major accomplishments/significant results: client revenues and profitablity maintained throughout Canadian operations through a period of severe economic downturn and resultant significant shrinkage in Canadian consulting market, coupled with coincident successful completion of all IPO/merger readiness exercises for Canada, all while maintaining a high degree of employee engagement and retention through a period of organizational uncertainty Member, Towers Perrin Quality and Audit Committee (2006 - 2008)  a group chartered by the Towers Perrin Board to work with the CFO, Internal and External Auditors to review financial reporting to Principals (shareholders), and to review, oversee and amend financial controls and quality processes as required, paralleling the Audit Committee function in a public firm  major accomplishments/significant results: significant changes were being considered and implemented with respect to financial reporting (Sarbanes Oxley) which did not apply to TP as a privately-held firm; TP had communicated its intent to issue an IPO and this committee was given the mandate to define a path to Sarbanes Oxley compliance as part of an IPO readiness plan; TP passed the last self-imposed Sarbox compliance readiness test in conjunction with internal publication of our Q2 2008 financial results, just as the global IPO market collapsed during the financial crisis in the fall of 2008, but the Sarbox readiness positioned us well for the eventual merger with public firm Watson Wyatt in 2009 Member, Towers Perrin Principal Promotions Committee (2000 - 2003)  a committee of 12 senior leaders from across diverse geographies and lines of business selected by the Towers Perrin Board to identify, review and recommend candidates to be elected as new Towers Perrin shareholders  major accomplishments/significant results: essential to realization of Towers Perrin's growth, succession planning and key talent retention objectives; successfully vetted approximately 200 candidates for promotion, all of whom were appointed shareholders by the Board; made substantial improvements to the application and client feedback portions of the review process, and implemented an education program to clarify shareholder nomination requirements for "on- track" pre-Principals aimed at greater transparency, which was very well-received Executive and Other Work Experience: Towers Perrin/Towers Watson (September 1995 to December 2012): Managing Director, Canada (Towers Watson Canada Inc), July 2009 to December 2012  matrix management of 4 geographic offices (Montreal, Toronto, Calgary and Vancouver) across 8 lines of business (Retirement, Health and Group Benefits, Administration, Talent and Rewards, Executive Compensation, Investment Services, Risk Financial Consulting and Brokerage) encompassing all aspects of operations (P&L, customer satisfaction, cross-LOB sales, marketing and human resource management), with annual human resource management consulting revenues of $200 million+ Cdn and approximately 800 employees Managing Principal, Toronto (Towers Perrin Canada Inc), January 2005 to June 2009  similar responsibilities to above for the Toronto operations of Towers Perrin, covering revenues of $70 million and approximately 275 employees
  • 3. Toronto Retirement Business Leader, January 2001 to December 2004  similar responsibilities to the above, but specific to the Retirement line of business only, representing $40 million of annual consulting revenues and approximately 125 staff Principal, Senior Consultant and Account Director, and Retirement Unit Leader, September 1995 to December 2000  provide strategic consulting advice to clients, and manage large cross-LOB service delivery teams for a number of engagements across diverse industry sectors Alexander Consulting Group (now part of AON Hewitt) October 1987 to August 2005:  held a number of consulting and leadership positions with increasing responsibility within the London, Ontario and Toronto offices, culminating in positions as Retirement Business Leader for Toronto and ultimately Toronto Managing Principal, with similar responsibilities to above experience with Towers Perrin/Towers Watson, but smaller scope London Life Insurance Company June 1978 to October 1987:  hired as actuarial trainee in management rotational training program covering numerous areas of operations (pension, large case benefits brokerage, controller’s office, strategic planning, product design, valuation etc.)  earned fellowship in Canadian Institute of Actuaries and American Society of Actuaries and held positions of increasing responsibility, eventually as the Consulting Actuary for National Accounts supporting marketing and sales of group insurance products for large clients serviced by the London Life captive brokerage operation Part-Time Lecturer, Department of Statistical and Actuarial Science (DSAS) Program, Western University1981 to 1984, and 2012 to present;and member of DSAS industry Curriculum Advisory Board 2010 to present  currently teach Mathematics of Finance and Corporate Finance to 2nd and 3rd year undergraduates in both the Actuarial Science and Bachelor of Management and Organizational Sciences (BMOS) programs  developing curriculum and scheduled to teach 2 modules (Business Communication and Leadership) for new Western Graduate Diploma Program (GDip): Business Skills for Actuaries and Financial Professionals being launched Winter 2016  managing outreach to employer/industry contacts whose associates fall in the target market for program enrollment as part of the GDip marketing committee Past Member and Chair of Pension Commission of Ontario (PCO, now FSCO) Actuarial Advisory Committee  member and eventual chair of PCO Actuarial Advisory Committee, providing guidance and advice respecting legislation, regulation, administrative policy and procedures in respect of registered pension plans in Ontario for the regulatory authority PCO (now FSCO)
  • 4. Academic Credentials:  Honours BSc. In Actuarial Science with a minor in Economics (with distinction), University of Western Ontario, June 1978  Fellow of the Canadian Institute of Actuaries (FCIA) and Fellow of the Society of Actuaries (FSA), 1982  Graduate of the ICD/Rotman Directors Education Program November 2013  ICD.D designation attained March 2014 Volunteer Activities:  United Way of Greater Toronto Campaign Cabinet (2007 - 2009) and Major Gifts Cabinet (2010 - 2011)  Western University Statistical and Actuarial Science Curriculum Advisory Committee (development of Graduate Diploma program: Business Skills for Actuaries and Financial Professionals pending implementation Winter 2016); 2010 to present  University of Toronto Rotman School of Business Advisory Group (assisting with development and marketing of a new executive training program focused on partner level CRMs in professional services firms); 2013  Member of Institute of Corporate Directors (ICD) West GTA Chapter Strategic Planning Committee and Chair of chapter Marketing Committee (responsible for development and delivery of continuing education and networking opportunities for ICD current and prospective members in the GTA region); July 2014 to present