Description: The August/September 2015 edition of The Actuary magazine—the Society of Actuaries’ flagship publication.

Description: Increasing uncertainties and volatility in financial as well as real goods markets increasingly reveal that controlling systems based on deterministic and pseudo-exact values are insufficiently eligible to manage the business activities. This raises the question how management systems can be modified to generate the adequate management impulses in volatile periods. Risk management deals from identifying, evaluating and aggregating chances and risks, which again determine the potential fluctuation range of relevant performance indicators. Everyday corporate life shows that risk management is considered important; but the corresponding processes to identify, evaluate and report chances and risks are seldom part of established decision criteria. This “paradox” lets assume that risks are managed in various differing and unsystematic ways. The combination of traditional controlling methods and risk management is not primarily a methodological challenge. The behavior of the whole organization, practiced over a long-year period, has to be transferred into a new corporate culture of transparent dealing with chances and risks. This paper describes the necessary change management process, which has to come along with necessary methodological modifications.

Description: This article looks at innovation, for entrepreneurs and actuarial specialists, as the combination of existing technology already available and a “distinctive and innovative business model of your own making.”

Description: Results of an industry survey on life insurance companies' efforts to implement the recently adopted Life Risk-Based Capital Phase II Instructions, which include new requirements for variable annuity contracts. Adopted by the NAIC on October 14, 2005, the new requirements are effective for year-end 2005. Also discusses a summary of the requirements set forth in the instructions.

Description: A report on the SOA Board's Executive Committee's discussions and and resolutions in response to the Manhart case.

Description: Actuaries should make the effort necessary to make a real contribution to business and public policy.

Description: Interview with Mike Smith, chief risk officer of ING U.S. Insurance Solutions unit.

Description: A critique of the SOA's co-sponsoring of the Manhart Brief which addressed sex discrimination in pension rates. The critique argues that the brief fails to satisfy standards of academic rigor reflected in other SOA publications.

Description: Preparing an effective actuarial memorandum in support of the health actuarial opinion.

Description: A critique of the SOA's co-sponsoring of the Manhart Brief which addressed sex discrimination in pension rates. This critique argues that the brief violates the SOA constitution by expressing not just facts, but opinions, without following specified procedures for doing so.