ERM Symposium April 6–8, 2016 Arlington, Virginia Award Winners The Actuarial Foundation’s ERM Research Excellence Award in Memory of Hubert Mueller for Best Overall Paper Enterprise Risk Reward Optimization Two Critical Approaches Damon Levine
Article from: The Actuary February 1999 – volume 33 -Issue 2 2 The Actuary • February 1999 Editor William C. Cutlip, FSA firstname.lastname@example.org Associate Editors Janet M. Carstens, FSA email@example.com Robert J. McKay, FSA firstname.lastname@example.org Robert D. Shapiro, FSA email@example.com Marc Twinney, FSA Assistant Edi
Article from: The Actuary Magazine December 2013/January 2014 – Volume 10, Issue 6 A Look Into ERM MAKING RISK MODELS COLLABORATIVE BY DAVE INGRAM than as a stone tablet brought down from the mountain by the modeling team who wrestled with the fates to create it. But making a complex stochastic risk model into an inter
- Agents, Can’t Live With Them, Can’t Live Without Them
The title of this article borrows from the more widely known quote from Dutch philosopher, Desiderius Erasmus, said about women. I would guess though, at least among product development actuaries, that the restated...
By Douglas Bennett
Risk Management: Part Two Systemic Risk, Financial Reform, and Moving Forward from the Financial Crisis pr e s ent e d b y t h e Society of Actuaries, Casualty Actuarial Society and Canadian Institute of Actuaries 1st edition2 Systemic Risk, Financial Reform , and Moving Forward fr om the Financial Crisis Introduction
30 You would not know it from the news, but in fact, a very large number of financial firms and a few regulators did correctly identify the looming problems that led to the financial crisis and took reasonable steps to avoid excessive losses. Almost all of the media attention has been on the firms and regulators who mi
38 The causes to the global financial crisis are multiple and interdependent. What is reasonably clear however, is that the directors on boards of significant financial institutions in the US and UK did not possess level of understanding of risk necessary to properly oversee management and the complex products and risk
- From The Editor
A brief look at each article from this edition.
By Carlos Fuentes
- How to Turn Suspects Into Prospects
By Ray Mascola
Article from: Health Watch January 2011 – Issue 65Navigating New Horizons … an Interview with Jack BrunerBy Sarah LawrenceIt’s a well-known fact that many college graduates go on to work in fields that have little, if anything, to do with the degree they’ve earned. While many actuaries would never dream of switching oc
Article from: Health Watch May 2012 – Issue 69Health Watch May 2012 19 Health Actuaries and the Short-term Prediction Problem By Kurt Wrobel The health actuarial profession has a very real structural problem that is not often discussed—the inherent challenges in making predictions where the results are known in a sho
Article from: Health Watch May 2013 – Issue 72In the past 50 years, health care costs in the United States have more than tripled, rising steadily from 5 percent of the gross domestic product in 1960 to 18 percent in 2012. Driven by those increasing costs, commercial health insurance premiums have become dramatically m
- Introduction to Non-US Life Insurance Products Distribution
It is no surprise the way life products are distributed varies by country. The reasons and incentives to buy life insurance are different due to culture, tax regime, marketing, etc. This article gives a brief introduction to...
By Rong Rong
ERM Culture Alignment to Enhance Competitive Advantage Dr. Abrahim Althonayan, Henry Killackey and Joanna Keith 2012 Enterprise Risk Management Symposium April 18-20, 2012 2012 Casualty Actuarial Society, Professional Risk Managers’ International Association, Society of ActuariesDr. Abrahim Althonayan, Henry Killackey
Enterprise Risk Management and Capital Budgeting Under Dependent Risks: An Integrated Framework Jing Ai, Ph.D. and Tianyang Wang, Ph.D. Presented at the: 2012 Enterprise Risk Management Symposium April 18-20, 2012 2012. Wang, Tianyang and Ai, Jing 1 Enterprise Risk Management and Capital Budgeting Under Dependent Risk
- Nudge for Good: Lessons From Nobel Prize Laureate Richard Thaler
A discussion on using behavioral
economics to nudge customers, colleagues and even significant others, for good.
By Amanda Hug with insights from
Note on Enterprise Risk Management for Capital and Solvency Purposes in the Insurance Industry Published 31 March 2009 International Actuarial Association Association Actuarielle Internationale Acknowledgements Many people and organisations have been involved with the development of this Note. First and foremost the me
_________________________________ *Copyright 2000, Society of Actuaries Note: The chart referred to in text can be found at the end of the manuscript. HMs. McNamara, not a member of the sponsoring organizations, is Vice President of Human Resources at Wellpoint Health Networks in Thousand Oaks, CA. RECORD, Volume 26,
________________________________ *Copyright 2000, Society of Actuaries †Ms. Thomson, not a member of the sponsoring organizations, is an Associate at Salomon Smith Barney in New York, NY. Note: The charts referred to in the text can be found at the end of the manuscript. RECORD, Volume 26, No. 1* Las Vegas Spring Meet
________________________________ *Copyright 2001, Society of Actuaries †Ms. Companik, not a member of the sponsoring organizations, is the actuarial manager of AdvancePCS in Irving, TX. Note: The chart referred to in the text can be found at the end of the manuscript. RECORD, Volume 26, No. 3* Chicago Annual Meeting O
_________________________________ *Copyright 2001, Society of Actuaries †Ms. Johnson, not a member of the sponsoring organizations, is Compliance Specialist at Milliman & Robertson, Inc. in Minneapolis, MN. ‡Mr. Wilder, not a member of the sponsoring organizations, is Director of Public Policy at the American Academy
_________________________________ *Copyright 2002, Society of Actuaries †Mr. Kenneth Jacobsen, not a member of the sponsoring organizations, is senior vice president and national health practice leader with the Segal Company in Atlanta, GA Note: The chart(s) referred to in the text can be found at the end of the manus
_________________________________ *Copyright 2002, Society of Actuaries †Mr. Michael Taylor, not a member of the sponsoring organizations, is a consultant and health and welfare principal with Towers Perrin in Boston, MA. Note: The chart(s) referred to in the text can be found at the end of the manuscript. RECORD, Vol
_________________________________ *Copyright 2002, Society of Actuaries RECORD, Volume 28, No. 1* Colorado Springs Spring Meeting May 30-31, 2002 Session 17OF Financial Management Through Hard Times Track: Financial Reporting Moderator: FREDERICK W. JACKSON Panelists: FREDERICK W. JACKSON DAVID A. RAINS ANDREW D. RALL
_________________________________ *Copyright 2002, Society of Actuaries Note: The chart(s) referred to in the text can be found at the end of the manuscript. RECORD, Volume 28, No. 1* Colorado Springs Spring Meeting May 30–31, 2002 Session 47PD Risk Management at the Corporate Level Track: Product Development/Reinsura
_________________________________ *Copyright 2005, Society of Actuaries †Mr. Alex Korogodsky, not a member of the sponsoring organizations, is senior manager at Ernst & Young in New York, NY. Note: The charts referred to in the text can be downloaded at: http://handouts.soa.org/conted/cearchive/NewOrleans-May05/053_bk
_________________________________ *Copyright 2005, Society of Actuaries †David A. Chalfin, not a member of the sponsoring organizations, is vice president at New York Life Insurance, New York, N.Y. ††Samuel R. Coleman, not a member of the sponsoring organizations, is managing director at Citigroup Global Markets, New
RECORD OF SOCIETY OF ACTUARIES 1981 VOL. 7 NO. 4 THE FINANCIAL CRISIS IN LIFE INSURANCE DISTRIBUTION SYSTEMS Moderator: JOHN E. TILLER, JR. Panelists: JAMES C. H. ANDERSON, JACK PECKINPAUGH * i. The crisis a. Does it exist? b. What is it? c. What are its roots? 2. Recruiting and training a. What is the impact of curren
RECORD OF SOCIETY OF ACTUARIES 1982 VOL. 8 NO. 4 MANAGING THE GROUP HEALTH LINE: TECHNICAL APPROACHES TO ANALYZING, MONITORING AND PROJECTING GROUP HEALTH EXPERIENCE Modera_rs: ROBERT _ DOBSON AND PH_L_ A. DORAN A teaching session dealing with techniques for improving management information in the group health line, to
357 RECORD OF SOCIETY OF ACTUARIES 1985 VOL. 11 NO. 1 ROLE OF THE VALUATION ACTUARY IN PRODUCT DEVELOPMENT Moderator: HAROLD D. SINGH Panelists: ALLAN D. AFFLECK KENT R. JOHNSON ALEXANDER G. SCHEITLIN Recorder: RICHARD LAU o Financial reporting systems as a source of information for product development. o Interaction o
RECORD OF SOCIETY OF ACTUARIES 1985 VOL. 11 NO. 2 ROLE OF THE ACTUARY IN DEFINING INVESTMENT POLICY AND STRATEGY Moderator: DAVID W. COOK Panelists: MATTHEW S. EASLEY JOHN L. MAGINN* RICHARD M. STENSON Recorder: CHRISTOPHER R. PERRIN o How should investment policy be developed? o Role of the actuary and the investment
RECORD OF SOCIETY OF ACTUARIES 1985 VOL. 11 NO. 2 i ROLE OF THE VALUATION ACTUARY IN PRODUCT DEVELOPMENT Moderator: ARNOLD A. DICKE Panelists: JOHN T. GLASS JAN L. POLLNOW ALAN K. RYDER Recorder: DONALD G. MACDONALD o Relationship of pricing and valuation actuaries in Canada. o Financial reporting system as an informat
RECORD OF SOCIETY OF ACTUARIES 1985 VOL. 11 NO. 2 ROLE OF THE VALUATION ACTUARY IN TIIE UNITED STATES, CANADA, AND THE UNITED KINGDGM Moderator: JOHN A. FIBIGER Panelists: ALLAN D. AFFLECK T. C. JENKINS* HORACE W. MCCUBBIN Recorder : CHESTER LEWANDOWSKI o Overview of the valuation actuary's role in each country o Produ
RECORD OF SOCIETY OF ACTUARIES 1985 VOL. 11 NO. 3 FOREIGN OWNERSHIP OF INSURANCE COMPANIES Moderator: JOHN B. YANKO Panelists: RICHARD P. BURROWS* WILLIAM F. MCGAHAN** Recorder: JOHN C. VIEREN o Reporting relationship o Organizational structure/changes o Accounting concerns/techniques o "Communication" o Personnel impa
RECORD OF SOCIETY OF ACTUARIES 1987 VOL. 13 NO. 4B INTEGRATING THE ACTUARIAL/INVESTMENT FUNCTION Moderator: GREGORY J. CARNEY Panelist: GRAHAM R. MCDONALD RICHARD S. ROBERTSON IRWIN T. VANDERHOOF Recorder: GREGORY J. CARNEY o Initial concerns from each side o Needed initial and ongoing coordination o Effect of company
*Copyright 1997, Society of Actuaries RECORD, Volume 22, No. 2* Colorado Springs Meeting June 26–28, 1996 Session 25PD Technology and the Small-Company Actuary Track: Computer Science/Smaller Insurance Company Key words: Computer Systems; Futurism Moderator: JAMES F. TOOLE Panelists: CARY DAVID GOGGIN WILLIAM M. WHITE
RECORD, Volume 22, No. 3* Orlando Annual Meeting October 27–30, 1996 Session 120PD Strategic Management of Insurance Company Risk Track: Financial Reporting/Investment/Product Development Key words: Risk Theory Moderator: CRAIG R. RAYMOND Panelists: HELEN GALT MARY GOTTSCHALK† C. NELSON STROM Recorder: CRAIG R. RAYMOND
RECORD, Volume 22, No. 3* Orlando Annual Meeting October 27–30, 1996 Session 23PD Effective Use of Services Available to Small-Company Actuaries Track: Smaller Insurance Company Key words: Corporate Strategy Moderator: CRAIG K. NORDYKE Panelists: FRANK J. BARRETT† ROBERT F. GRIEB‡ DOUGLAS J. KNOWLING JEFFREY G. STEVENS
RECORD, Volume 22, No. 3* Orlando Annual Meeting October 27-30, 1996 Session 80CS Achieving Successful Organizational Integration Track: Product Development Key words: Mergers and Acquisitions Moderator: IRVING R. BURLING Facilitator: DAVID A. WHITSETT† Recorder: IRVING R. BURLING Summary: It is a time of consolidation
RECORD, Volume 22, No. 3* Orlando Annual Meeting October 27–30, 1996 Session 90PD General Accepted Accounting Principles (GAAP) Implementation Issues Track: Financial Reporting Key words: Financial Reporting, GAAP Moderator: ROBERT M. BEUERLEIN Panelists: JAMES B. MILHOLLAND MARY ANN H. PELTIER RONALD T. TAKEMOTO Recor
1 Enterprise Risk Management Specialty Guide August 30, 2005 2 Table of Contents Page Foreword ......................................................................................................................3 Executive Summary........................................................................................
1 Enterprise Risk Management Specialty Guide May 2006 2 Table of Contents Page Foreword ......................................................................................................................3 Executive Summary...............................................................................................
Article from: The Stepping Stone November 2013 – Issue 52 the stepping stone NOVEMBER 2013 15 Michael O’Reilly, FSA, MAAA, senior actuary at Aetna, believes actuaries can solve technical problems independently and collaboratively with IT. He can be reached at firstname.lastname@example.org. Lessons Learned in Systems Project Ma
- The Changing Face of Distribution: Recent Developments in Face to Face Distribution of Insurance and Other Financial Services Products
While more long-standing issues including the recruitment of new sales talent and the aging of the existing field force create a background against which today’s industry operates, recent research conducted...
By Patrick T. Leary