Slides from a presentation at the Society of Actuaries 2007 Annual Meeting, held in October, 2007 in Washington, D.C. Discussion of information gleaned from 3 recent surveys addressing the importance of speed in the development and introduction of new products and penetration of new markets and the obstacles to attaining it

This session will describe innovative approaches used to identify and qualify relationships between enterprise risks. Presenters will detail how understanding the interconnectivity of the various risks can help raise an organization’s Risk Intelligence – enabling it to increase the effectiveness of its risk mitigation plans, avoid unanticipated consequences, and ultimately, capitalize on a holistic risk management approach in a large, complex, and diverse public-sector organization.

In this session, we outline the key criteria of the ORSA requirements, the challenges they present, and techniques companies can use to address these challenges.

In this session, we outline the key criteria of the ORSA requirements, the challenges they present, and techniques companies can use to address these challenges.

This session discusses the global financial crisis also presents unique opportunities for risk management professionals. In particular, the crisis has focused attention on the identification and management of operational risk within an organization. Risk management professionals at the Canadian Western Bank have capitalized on this increased focus to develop an ERM framework at the bank.

In this session, we discuss how suboptimal risk disclosures are related to key risks, such as strategy execution risk, litigation risk, and risks related to rating downgrades. Our first panelist will discuss the linkage between the level of candor in shareholder disclosures and the ability to execute strategy. Our second panelist will discuss how a poor linkage between ERM and risk disclosures may result in litigation risk. Our third panelist addresses how ineffective disclosures to a rating agency factors into a company’s rating.

At Malaysia Deposit Insurance Corporation (“MDIC”), the Deposit Insurance Organization of the Year for 2011 by the International Association of Deposit Insurers, the CRO reports directly to the board of directors via the Audit Committee, and administratively to the CEO, which provides a platform for independent and impartial advice on the principal risks of MDIC. The independent role of the CRO is critical for decision making and value creation to MDIC a) in establishing risk appetite/tolerance and risk parameters; b) in the divisional and corporate-wide interconnectedness risk assessment; c) in selecting risk treatment options and preparing preliminary risk action plans; d) in follow up on implementation of risk action plans; e) in monitoring the effectiveness of risk action plan implementation and reassessing the impact on risk rating.

In this session, we outline the key criteria of the ORSA requirements, the challenges they present, and techniques companies can use to address these challenges.

Discussion of the economics of a possible H5N1 pandemic, and its impact on Life, Health, and Property and Casualty insurers, in terms of areas of risk, especially underwritng risk, operations risk, and market risk.

This consultation document concentrates on the consideration of corporate governance and risk management focus within the SMI. Because of the relationship between risk management and internal capital assessment, high-level issues surrounding the implementation of an Own Risk and Solvency Assessment are also explored in this paper. Additionally, two appendixes have been attached to this document outlining International Association of Insurance Supervisors principles and standards in areas relating to corporate governance and risk management that may warrant consideration.