Serves as a sort of home page for the Financial Reporting Section of the Society of Actuaries.

This session will feature results and insight drawn from two separate emerging risk studies. Max Rudolph will present on his own annual survey of emerging risk experts, sponsored by the SOA’s Joint Risk Management Section. Alex Wittenberg will present on the Global Risks 2013 report, sponsored and released by the World Economic Forum. The audience will learn how to prioritize efforts regarding emerging risks and generate follow-up discussions for anyone tasked with creating potential scenarios.

Web page for links to the Section's resources and leadership list, research, news, events, publications.

Technology makes it possible to communicate with someone at the other side of the world. Countries such as China and India are producing many qualified, English-speaking actuaries every year. As actuaries, how do we survive and succeed in the upcoming competition? Is the threat real? As company leaders, how can we increase efficiency and reduce operating risks? Can outsourcing be used to benefit both the company employees as well as the company’s bottom line? Speakers will provide real-life examples and experienced insight. At the conclusion of the session, attendees will understand the impacts of globalization to themselves, their organization and the profession. They should be encouraged to develop more portable skills, delegate tasks and facilitate communication.

There is increasing recognition of the value of data-derived assumptions in modeling. Being able to perform, validate and interpret experience studies are important tasks for both product development and valuation actuaries. Starting from raw data, the presenters will step through the major processes in the completion of an experience study.

Excel spreadsheets are ubiquitously utilized by actuaries for computation, presentation and general actuarial analysis. Yet, there are times when spreadsheet capabilities are not effective and other software tools may be more efficient and appropriate. This session will provide three alternative tools and explore situations when alternatives are ideal.

The recent economic environment has made it difficult for many products to project material accumulation potential, placing an increased focus on protection products. At the same time, changes to AG38 have forced product changes in 2013 for ULSG writers. Term and ULSG are feeling the pains of new valuation rates and low interest rates.

The session will provide guidance for when predictive modeling tools can be effectively used and when they cannot. There will be an opportunity for the audience to ask questions. At the conclusion of the session, attendees will be able to: identify predictive modeling tools that can be used to model extreme events and determine when predictive modeling tools do and do not apply to modeling extreme events.

This session will present the beneficial uses of captive reinsurers and will include practical application and examples of effective use by companies in the market today. At the conclusion of the session, attendees will be able to evaluate potential uses or application of captive reinsurance solutions to their company situation.

This session will provide an introduction to the various discount rate methodologies and accompanying case studies described within the monograph. Although the IAA monograph's focus is setting discount rates for financial reporting, citing examples from different countries, it has the potential to inform the practice of actuaries in other roles, too. At the conclusion of the session, attendees will have a greater appreciation of the challenges of setting discount rate assumptions in current economic climate and challenges faced by actuaries in other areas of practice and countries.