Description: Author asserts that actuaries are arguably better at analyzing and interpreting risk than any other professional. The exhaustive exams teach us how to manage risk, not eliminate it. If the profession is to continue to flourish, it will be vital to take this idea and apply it to one’s career too.

Description: The costly, time-consuming and complicated process of enterprise risk management (ERM) can be improved in many companies and made less tedious for managers by using reasonable data and templates obtained from peer group entities. The models used to calculate economic capital (EC) often underestimate its value because they do not consider decision-maker perception about risk. We assume here that managers, as the decision-makers, have appropriate business understanding and they can provide substantial information about risk characteristics regarding all business processes. Therefore we are focused, in this paper, on collecting data from managers across the different businesses to derive the appropriate knowledge about risky events, the importance of particular types of risk, the relationship between the risk outcomes and the level of risk control in a particular industry. We conclude that the collected data has a high potential for use as a benc hmarking reference and analysis for improving ERM models for individual businesses.

Description: Discussion of how non actuaries are taking on many of the enterprise risk management roles of insurance companies. Discusses changes actuaries need to make to re-assert their roles. Also discusses roles actuaries can play in enterprise risk management outside of the insurance and pension industries

Description: Introduction to academicians, practitioners, and gerontologists who comprise the Funding Longevity Task Force at the American College of Financial Services.

Description: Read the December 2016 issue of The Modeling Platform published by the Modeling Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: The article is based on a study of causes of insolvency and decisions made by management, regulators, and policyholders over the life cycle of the insolvency.

Description: The article looks at potential changes in care provider demographics that could ultimately have an impact on the cost of long term care services.

Description: A high level review of recent developments in the area of professional standards of practice on Modeling, with exploration of a few of the contentious issues.

Description: A discussion of risk-relevant resources available at the Society of Actuaries Risk Management Task Force Web site