Announcement: SOA releases June 2019 Exam STAM passing candidate numbers and congratulates the new FSAs for August 2019.

Agenda Day 3

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Tuesday, August 30
6:00 a.m. – 2:30 p.m.
6:00 a.m. – 7:00 a.m.

Presentation(s): View Presentation

Moderator(s): Leonard Mangini, FSA, MAAA

Presenter(s): Leonard Mangini, FSA, MAAA

Join the Financial Reporting Section for a hot breakfast for an update on section activities and discussions with your fellow section members.

This breakfast is open to all meeting attendees free of charge. If you plan to attend, you must register in advance to obtain a ticket.

Session Coordinator(s) Michael McDonald, FSA, MAAA

Facilitator(s)

7:00 a.m. – 8:00 a.m.
7:00 a.m. – 8:30 a.m.

Credits: 1.80 CPD

Competency: Results-Oriented Solutions

Moderator(s): Ashlee Mouton Borcan, FSA, MAAA

Presenter(s): Ashlee Mouton Borcan, FSA, MAAA; Jack Steven Keck, FSA, MAAA; Stephen Rook, FSA, MAAA

Experience Level: Intermediate

Attendees at this session will discuss and share their experiences regarding challenges with respect to health reserves. They will also have the opportunity to ask questions and voice concerns to their peers, while receiving feedback from actuaries with similar experiences.

At the conclusion of the session, attendees will be able to identify potential problems and solutions regarding reserves for health products.

Session Coordinator(s) Ashlee Mouton Borcan, FSA, MAAA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.80 CPD

Competency: Results-Oriented Solutions

Moderator(s): Thomas A. Campbell, FSA, MAAA, CERA

Presenter(s): Laura Alden Hanson, ASA, MAAA; Lorne W. Schinbein, FSA, MAAA

Experience Level: Advanced

Currently, actuaries are responsible for up to 19 different actuarial reports, and the number of requirements is growing. This session will explore the idea of streamlining to provide a single entry point for accessing the stand-alone reports, and to better present data and information that may be contained in multiple actuarial reports. Actuaries who attend will have the opportunity to provide input into the ideas being considered.

At the conclusion of the session, attendees will be able to understand the potential solutions that are being considered by the NAIC to address the issues associated with the requirement for actuaries to submit multiple actuarial reports.

Session Coordinator(s) Thomas A. Campbell, FSA, MAAA, CERA

Facilitator(s)

Credits: 1.80 CPD

Competency: External Forces & Industry Knowledge

Moderator(s): Katie Cantor, FSA, MAAA

Presenter(s): Bruce Edward Fuller, FSA, MAAA; John L. Shaw, FSA, MAAA

Experience Level: Intermediate to Advanced

A practice note related to GAAP accounting for reinsurance is being developed. Attendees at this session will be able to provide input to the practice note and share common practices related to accounting for reinsurance.

At the conclusion of the session, attendees will be able to describe issues related to GAAP accounting for reinsurance.

Session Coordinator(s) Katie Cantor, FSA, MAAA

Facilitator(s)

Credits: 1.80 CPD

Competency: Results-Oriented Solutions

Moderator(s): TBD

Presenter(s): TBD

Experience Level: All

Behavioral finance is a term used to describe how the actions of investors (both individual and institutional) often seem inconsistent with traditional representations of economic utility. There are certain aspects of behavioral finance that can be extended to the responsibilities of a valuation actuary in setting assumptions. This session will provide a basic understanding of behavioral finance and how this emerging science could impact the way that valuation actuaries fulfill their responsibilities.

At the conclusion of the session, attendees will be able to:

  • Describe how behavior affects a company's view of risk;
  • Describe the modeling by-products of this behavior; and
  • State the pitfalls that may arise due to the behavior.

Session Coordinator(s) George E. Eknaian, FSA, MAAA, CERA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.80 CPD

Competency: Results-Oriented Solutions

Moderator(s): Amit S. Palicha, FSA

Presenter(s): Brian Joseph O’Neill, FSA, MAAA, CERA

Experience Level: Intermediate

The general sentiment among insurance executives with respect to operational risk is that it is challenging to quantify and mitigate. Experts at this session will discuss the few metrics commonly used for operational risk and explain how they might provide significantly different amounts of capital to be held with regards to operational risk. They will also examine future trends in assessing capital needs for operational risk.

At the conclusion of the session, attendees will be able to identify ways to measure and manage operational risk in the current environment and how that would change in the future.

Session Coordinator(s) Brian Joseph O’Neill, FSA, MAAA, CERA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.80 CPD

Competency: Technical Skills & Analytical Problem Solving

Moderator(s): Stephen J. Strommen, FSA, MAAA, CERA

Presenter(s): Mark William Birdsall, FSA, MAAA, FCA; Stephen J. Strommen, FSA, MAAA, CERA

Experience Level: Beginner

Experts at this session will provide considerations for insurers when evaluating the impact of various simplification approaches under VM-20, including the representative scenarios method (RSM).

At the conclusion of the session, attendees will be able to describe simplified methods and understand how to apply it to insurance product.

Session Coordinator(s) Stephen J Strommen, FSA, MAAA, CERA

Facilitator(s)

Credits: 1.80 CPD

Competency: Professional Values

Moderator(s): Darcy Eikenberg

Presenter(s): Darcy Eikenberg

Experience Level: All

In this energetic conversation, panelists will share:

  • The latest research around why leading with courage at work is more important than ever, and not only for our careers, but for our companies and our communities;
  • Strategies and tools to help you decide when, where, and how you can be exercising courage in your own career;
  • How to balance taking risks with the possible rewards; and
  • How to use career courage to get back to your true, best self in the new world of work.

At the conclusion of the session, attendees will be able to:

  • Understand why leading with ethical courage at work is more important now than ever;
  • Decide when, where, and how you can be exercising courage in your own career; and
  • Balance taking risks with possible rewards.

Session Coordinator(s) Louis Posick, FSA, MAAA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.80 CPD

Competency: External Forces & Industry Knowledge

Moderator(s): Brian McBride, FSA, MAAA

Presenter(s): Troy McGill; Peter Winslow

Experience Level: Intermediate

Experts at this session will provide an update on current tax developments affecting the life insurance industry, including:

  • PBR;
  • Common reporting standards;
  • International tax issues; and
  • Base erosion and profit sharing (BEPS).

At the conclusion of the session, the attendees will have information allowing them to better understand the impact of tax on product compliance, pricing and on significant tax issues in transactions.

Session Coordinator(s) Jacqueline Yang, FSA, MAAA, ACIA

Facilitator(s)

Credits: 1.80 CPD

Competency: Technical Skills & Analytical Problem Solving

Moderator(s): TBD

Presenter(s): TBD

Experience Level: Beginner

Companies previously only did financial reporting on statutory and GAAP (and tax) basis. But for the past 10 years, foreign-owned companies also had to prepare MCEV financial reporting. Some foreign companies stared to abandon the MCEV reporting and setting up the reporting requirements under Solvency II by the end of 2016. While foreign companies are switching from MCEV to Solvency II, some U.S. companies have or are thinking about doing some form of MCEV reporting for management purpose. So why do we need so many reporting bases? What are benefits offered by for each reporting basis? Do you need to understand all the reporting bases? Are we better off by understanding all the difference of each reporting basis?

At the conclusion of the session, attendees will be able to:

  • Understand various financial reporting basis and the corresponding reporting objectives and requirements; and
  • Understand the processes that are needed to comply with the relevant reporting requirements and how to interpret and connect various sets of reporting basis.

Session Coordinator(s) Jacqueline Yang, FSA, MAAA, ACIA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.80 CPD

Competency: Results-Oriented Solutions

Moderator(s): Donald M. Walker, ASA, MAAA

Presenter(s): Mark E. Alberts, FSA, MAAA; Lori L. Helge, FSA, MAAA; Donald M. Walker, ASA, MAAA

Experience Level: Beginner

The Financial Reporting Section, Smaller Insurance Company Section, Modeling Section, and the Committee on Life Insurance Research are sponsoring a research project to develop deterministic scenario sets reflective of the current life insurance industry environment. The researcher will then compare and contrast these sets to other sets that are commonly used in asset adequacy testing such as the New York 7 scenarios. Results will be summarized into a report to be published on the SOA website. This session will give an update on how this project is progressing and results to date. Panel members and the audience will have an opportunity to interact with the researcher on this important topic. In addition, the panelists will invite audience participation in a discussion of the current interest rate environment, the prospects for change in that environment, and the impacts on asset adequacy analysis.

At the conclusion of the session, attendees will be able to:

  • Better assess the impact of the current interest rate environment on asset adequacy analysis.

Session Coordinator(s) Donald M. Walker, ASA, MAAA

Facilitator(s)

9:00 a.m. – 10:30 a.m.

Presentation(s): View Presentation

Credits: 1.80 CPD

Competency: Results-Oriented Solutions

Moderator(s): Daniel J. Perlman, FSA, MAAA

Presenter(s): Daniel J. Perlman, FSA, MAAA; David M. Liner, FSA, CERA, MAAA

Experience Level: Intermediate

Presenters at this session will explore issues related to premium deficiency reserves for health products. Topics will include assumptions utilized in the testing of premium deficiency reserves as well as testing methodologies.

At the conclusion of the session, attendees will understand the implications of assumption and testing methodologies for premium deficiency testing for health products.

Session Coordinator(s) Ashlee Mouton Borcan, FSA, MAAA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.80 CPD

Competency: Strategic Insight and Integration

Moderator(s): David R.W. Payne, MAAA, FCAS

Presenter(s): Dwayne Allen Husbands, FSA, MAAA; David R.W. Payne, MAAA, FCAS; Chad R. Runchey, FSA, MAAA

Experience Level: All

Participants in this session will work on a hypothetical insurance company 'case study' while roleplaying to explore the many things that can go wrong in the absence of governance over model risk management. They will also work in teams to prepare solutions before presenting them to other participants and the facilitator/experts.

At the conclusion of this session, attendees will be able to

  • Understand model risk management;
  • Bring those techniques back to their workplace; and
  • Know the dangers of disorganized and unstructured model development.

This session is a follow up to session 42IF which will further expand on themes discussed from the previous session. Participation in the previous session is not required to participate in this session.

Session Coordinator(s) David Paul

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.80 CPD

Competency: Technical Skills & Analytical Problem Solving

Moderator(s): Thomas Q. Chamberlain, ASA, MAAA

Presenter(s): Charles K. Chacosky, FSA, MAAA; Thomas Q. Chamberlain, ASA, MAAA

Experience Level: Intermediate

Experts at this session will cover:

  • The FAS 60 profits-followed-by-losses test (PFBL);
  • The manner in which the test is completed;
  • Interpreting the results of the test;
  • Assumption setting; and
  • The methods used to calculate the additional PFBL liability by going through examples and addressing key considerations.

At the conclusion of the session, attendees will be able to:

  • Develop a profits followed by losses (PFBL) model;
  • Identify relevant methodology and policy decisions that should be part of the PFBL process; and
  • Determine future company areas (even beyond finance) that will be impacted by this test and results.

Session Coordinator(s) Thomas Q. Chamberlain, ASA, MAAA

Facilitator(s)

Credits: 1.80 CPD

Competency: Technical Skills & Analytical Problem Solving

Moderator(s): TBD

Presenter(s): TBD

Experience Level: Intermediate

This session is intended for actuaries who are working on asset adequacy analysis, and are especially interested in trends regarding alternative investments. Experts at the session will discuss the types of alternative investments, the reasons that these investments are being utilized, and the reserving and capital implications of using such investments.

At the conclusion of the session, attendees will be able to understand the types of alternative investments and items they should consider when modeling these investments for reserving and capital purposes, particularly C3 Phase 1 testing for annuities and C3 Phase 3 testing for life insurance products.

Session Coordinator(s) TBD

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.80 CPD

Competency: Technical Skills & Analytical Problem Solving

Moderator(s): Karen K. Rudolph, FSA, MAAA

Presenter(s): Carrie Lee Kelley, FSA, MAAA; Richard Nam, FSA, MAAA, CERA; Karen K. Rudolph, FSA, MAAA

Experience Level: All

Experts at this session will cover assumption determination under VM-20, while emphasizing the procedures for setting prudent estimate mortality assumptions as well as measuring credibility.

At the conclusion of the session, attendees will be able to describe:

  • Assumption setting under VM-20;
  • How to set a prudent best estimate; and
  • How to measure credibility.

Session Coordinator(s) William M. Sayre, FSA, MAAA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.80 CPD

Competency: External Forces & Industry Knowledge

Moderator(s): Uri Sobel, FSA, MAAA

Presenter(s): Mark William Birdsall, FSA, MAAA, FCA; Marianne C. Purushotham, FSA, MAAA; Thomas E. Rhodes, FSA, MAAA, FCA

Experience Level: All

Under the Valuation Manual (VM-50 and VM-51), companies will be required to report experience on their life insurance business. Experts at this session will discuss these requirements, including the implications for companies and the potential to expand beyond mortality.

At the conclusion of the session, attendees will be able to:

  • Describe the requirements for experience reporting in VM-50 and VM-51;
  • State the implications for companies; and
  • Describe potential expansion beyond mortality experience.

Session Coordinator(s) William M. Sayre, FSA, MAAA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.80 CPD

Competency: Strategic Insight and Integration

Moderator(s): Zeeshan Ramzan Ali Rehmani, FSA, MAAA

Presenter(s): Zeeshan Ramzan Ali Rehmani, FSA, MAAA; David Lawrence White Jr., FSA, MAAA

Experience Level: Beginner

Presenters at this session will describe embedded value and how it can be used to improve business decision making. They will also discuss the metrics used.

At the conclusion of the session, attendees will be able to

  • Describe embedded value;
  • Understand how embedded value can be used measure their performance; and
  • Describe what can they do to improve their performance.

Session Coordinator(s) Zeeshan Ramzan Ali Rehmani, FSA, MAAA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.80 CPD

Competency: External Forces & Industry Knowledge

Moderator(s): Edward Dashun Yen, FSA, MAAA

Presenter(s): Jason E. Kehrberg, FSA, MAAA; Mark S. Smith

Experience Level: All

PBR is in the adoption process by various states. Experts at this session will provide an update on that process and explore the implications of PBR VM-20 on statutory and tax reserving.

At the conclusion of the session, attendees will be able to:

  • Understand the current status of PBR;
  • Describe the effect on statutory valuation; and
  • Explain the implications with regard to tax reserves.

Session Coordinator(s) Jacqueline Yang, FSA, MAAA, ACIA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.80 CPD

Competency: Strategic Insight and Integration

Moderator(s): Jason Matthew Hiquet, FSA, CERA

Presenter(s): Jason Matthew Hiquet, FSA, CERA; Antonio D. Johnson, ASA, MAAA; Connie W. Tang, FSA, MAAA, CERA

Experience Level: Intermediate

Increased demands from external shareholders, investors, auditors and regulators created a need for companies to report financial data, key metrics and insightful analysis in a more consistent and timely fashion. Experts at this session will focus on challenges to developing a consistent, company-wide automated reporting and analytics framework. They'll also explain its advantages.

At the conclusion of the session, attendees will be able to:

  • Evaluate obstacles in their current department, product line, and company to developing an automated, company-wide reporting system;
  • Identify opportunities to align reporting for valuation, risk, and finance, to tell a consistent story to external shareholders, regulators, and auditors; and
  • Explain how a comprehensive, company-wide reporting and analytics package will improve the quality, speed, consistency, reliability, and explanatory power of information in the organization.

Session Coordinator(s) Jason Matthew Hiquet, FSA, CERA

Facilitator(s)

10:45 a.m. – 2:45 p.m.

Credits: 1.80 CPD

Competency: Strategic Insight and Integration

Moderator(s): Jerry F. Enoch, FSA, MAAA; Paul R. Retzlaff, FSA, MAAA

Presenter(s): James P. Cleary, FSA, MAAA; Carl Desrochers, FSA, MAAA, FCIA; Jerry F. Enoch, FSA, MAAA; Kip F. Headley, FSA, MAAA; Kristina L. Kennedy, FSA, MAAA; Donald R. Krouse, FSA, MAAA; Steven F. Malerich, FSA, MAAA; David E. Neve, FSA, MAAA, CERA; Kyle A. Puffer, FSA, MAAA; Paul R. Retzlaff, FSA, MAAA

Experience Level: Advanced

This interactive forum is for appointed actuaries and others with a high level of involvement to discuss the issues that affect their duties and responsibilities. Prior to the symposium, a survey will be sent to all session registrants to determine the issues they would like to discuss in a series of buzz groups. Results of the survey are used to help organize the session.

At the conclusion of this session, attendees will be able to describe insights into how others manage and contribute to the role of the appointed actuary.

Session Coordinator(s) Jerry F. Enoch, FSA, MAAA

Facilitator(s)

11:45 a.m. – 1:00 p.m.
12:15 p.m. – 1:45 p.m.

Credits: 1.80 CPD

Competency: Technical Skills & Analytical Problem Solving

Moderator(s): Scot O’Neill Jones, FSA, MAAA

Presenter(s): Scot O’Neill Jones, FSA, MAAA

Experience Level: Beginner

Experts at this session will discuss statements of actuarial opinion relating to NAIC health annual statements and the major components of review that they entail. This session was designed for newly appointed actuaries and actuaries working to support an appointed actuary in their work. There are at least 300 instances of "actuary should" and "actuary must" in the actuarial standards of practice (ASOPs) applicable to statements of actuarial opinion for NAIC Health Annual Statements. Presenters will discuss ways to plan and execute the year-end review, document the work and ensure that you are covering all the bases.

At the conclusion of the session, attendees will have an understanding of actuarial opinions related to an Health Financial Statement.

Session Coordinator(s) Scott O’Neill Jones, FSA, MAAA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.80 CPD

Competency: Technical Skills & Analytical Problem Solving

Moderator(s): Dorothy Andrews, FSA, MAAA

Presenter(s): Dorothy Andrews, FSA, MAAA; Missy A. Gordon, FSA, MAAA; Timothy S. Paris, FSA,

Experience Level: Beginner

Experts at this session will provide participants with a high-level understanding of the critical considerations and components of the predictive analytics process. They will walk attendees through a simple model, discuss its results and demonstrate how to apply some common model validation techniques to validate the model.

At the conclusion of the session, attendees will be able to:

  • Define Predictive Analytics (PA);
  • Identify the tools used to build PA Models;
  • Identify techniques to validate data used in PA models and validate the results of models.

Session Coordinator(s) Dorothy Andrews, FSA, MAAA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.80 CPD

Competency: Results-Oriented Solutions

Moderator(s): Eve Pastor, CPA, CGMA

Presenter(s): Laurel A. Kastrup, FSA, MAAA; Eve Pastor, CPA, CGMA; Leonard J. Reback, FSA, MAAA

Experience Level: Beginner

FASB's targeted improvements are significantly changing the work of the valuation actuary. Implementation of the short-duration contracts' disclosures is well underway, and experts at this session will focus on lessons learned, best practices and opportunities. Technical and practical considerations and recommendations will be presented so that the valuation actuary can best make a strategic and critically important impact through these changes.

At the conclusion of the session, attendees will be able to:

  • Understand the challenges and opportunities of implementing FASB's targeted improvements;
  • Apply best practices for collaborating with accountants; and
  • Effectively implement Accounting Standards Update No. 2015-09, Financial Services-Insurance (Topic 944): Disclosures about Short-Duration Contracts.

Session Coordinator(s) Eve Pastor, CPA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.80 CPD

Competency: Technical Skills & Analytical Problem Solving

Moderator(s): Ken Griffin, FSA, MAAA

Presenter(s): Ken Griffin, FSA, MAAA; Nicholas Anthony Jacobi, FSA, CERA; Michael Lundquist, FSA, MAAA; Hal Warren Pedersen, ASA

Experience Level: Intermediate

This session is intended for actuaries who are working on asset adequacy analysis, and are especially interested in scenario generators and the pluses and minuses of their use. Experts will describe the attributes of a good scenario generator and a bad scenario generator, as well as discuss what further testing should be completed to gain a comfort level with scenario results.

At the conclusion of the session, attendees will be able to:

  • State the good and bad related to scenario generators;
  • Describe what aspects are important to both reserving and capital management; and
  • State what, if any, additional deterministic tests should be performed.

Session Coordinator(s) Jonathan A. Mossman, FSA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.80 CPD

Competency: External Forces & Industry Knowledge

Moderator(s): Sean Michael Hayward, FSA, MAAA

Presenter(s): James Russell Collingwood ASA, MAAA; Sean Michael Hayward, FSA, MAAA

Experience Level: Intermediate

ORSA implementation has provided challenges to the U.S. insurance industry as well as Canada in its own ORSA effort. Experts at this session will address the various approaches to ORSA capital quantification being taken, gaps seen in the industry in meeting the guideline, success of implementation goals from the perspective of practitioners and consultants and regulators' expectations with regard to 2016 and forward.

At the conclusion of the session, attendees will be able to:

  • Evaluate their own organization's approaches to implementing ORSA in light of the experience of both Canadian and US firms;
  • Identify improvements to their own or their client's processes and procedures related to ORSA compliance; and
  • Develop plans to improve the next iteration of ORSA reporting in light of emerging best practices.

Session Coordinator(s) David M. Walczak, FSA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.80 CPD

Competency: Technical Skills & Analytical Problem Solving

Moderator(s): Alan J. Routhenstein, FSA, MAAA

Presenter(s): Jason E. Kehrberg, FSA, MAAA; Alexandre Lemieux, FSA, MAAA; Alan J. Routhenstein, FSA, MAAA

Experience Level: Intermediate

This session is intended for actuaries involved in the life insurance business, whether pricing, valuation, or asset liability management. Experts will address the implications of AG 48 and VM-20 on company investment strategy, with particular attention to the impact of interest rate projections. Actuaries who attend this session will learn more about VM-20 how its requirements will impact the investments, and ultimately the pricing of new business using principle-based reserves.

At the conclusion of the session, attendees will be able to:

  • Explain PBR;
  • Describe the investment strategy implications of AG 48 and VM-20; and
  • Explain to management and their investment counterparts the strategy implications of PBR on new business pricing.

Session Coordinator(s) George E. Eknaian, FSA, MAAA, CERA

Facilitator(s)

Credits: 1.80 CPD

Competency: Strategic Insight and Integration

Moderator(s): Timothy C. Cardinal, FSA, MAAA, CERA

Presenter(s): Bryan Neil Amburn, FSA, MAAA; Timothy C. Cardinal, FSA, MAAA, CERA; Pamela A. Hutchins, FSA, MAAA; Jeffrey David Lee, ASA, MAAA

Experience Level: Intermediate

This forum has a unique format and will focus on issues faced by actuaries in leadership positions at smaller insurance companies. Attendees will be surveyed in advance to ensure the topics are fresh and relevant. By discussing critical issues with your peers, you will leave with ideas to incorporate in your business environment.

At the conclusion of the session, attendees will be able to better determine how they will respond to some of the challenges they face and establish relationships with several actuaries facing similar issues.

Session Coordinator(s) Bryan Neil Amburn, FSA, MAAA

Facilitator(s)

2:15 p.m. – 3:45 p.m.

Presentation(s): View Presentation

Credits: 1.80 CPD

Competency: Professional Values

Moderator(s): Greg Vincent Sgrosso, FSA, MAAA

Presenter(s): Andrew Ryan Large, FSA, MAAA, CERA; Greg Vincent Sgrosso, FSA, MAAA

Experience Level: Beginner

Experts at this session will focus on professionalism topics of current interest to health actuaries. The discussion will include a review of the standards of practice that are particularly important to actuaries practicing in health disciplines. Speakers will provide examples of situations where professionalism can significantly impact the outcomes of project work. Attendees will be encouraged to ask questions and participate in the discussions.

At the conclusion of the session, attendees will be able to identify professionalism topics of current interest to actuaries practicing in health disciplines.

Session Coordinator(s) Greg Vincent Sgrosso, FSA, MAAA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.80 CPD

Competency: Technical Skills & Analytical Problem Solving

Moderator(s): Dorothy Andrews, ASA, MAAA

Presenter(s): Eileen Sheila Burns, FSA, MAAA; Minyu Cao, FSA, CERA;

Experience Level: Beginner

This session was designed to help actuaries develop modeling assumptions using predictive analytics. "Best Estimate" assumption development is often viewed by some as more "hand-waving" than science. Experts at this session will give participants an analytical framework to support their assumption setting with defendable analytics, thereby, removing subjectivity. Participants will be exposed to real world examples of the use of analytics to set assumptions.

At the conclusion of the session, attendees will be able to:

  • Identify assumptions that lend themselves to predictive analytics;
  • Identify data and tools needed to analytically develop assumptions; and
  • Validate model results to actual experience and intuition.

Session Coordinator(s) Eric Schwartz, FSA, MAAA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.80 CPD

Competency: Strategic Insight and Integration

Moderator(s): Laura Christine Whitaker, ASA, MAAA; Mark M. Yu, FSA, MAAA

Presenter(s): Anthony Dardis, FSA, FIA, MAAA, CERA; Laura Christine Whitaker, ASA, MAAA

Experience Level: All

We live in a dynamic "biosphere" where external factors can "disrupt" how we routinely conduct business. Drastic changes in regulation, market trends, terrorist attacks and extreme natural disasters are often categorized as "1-in-200" events. In reality, those external risks can destroy a weak or adequately rated ERM ecosystem. How will your ERM ecosystem survive the perils and continue to flourish through evolving climate changes?

At the conclusion of the session, attendees will be able to describe:

  • A sound Enterprise Risk Management framework; and
  • How the framework can be designed to survive and continue to flourish during change.

Session Coordinator(s) Laura Christine Whitaker, ASA, MAAA

Facilitator(s)

Credits: 1.80 CPD

Competency: External Forces & Industry Knowledge

Moderator(s): Scott D. Houghton, FSA, MAAA

Presenter(s): Troy Regan Elliott, ASA, MAAA; Scott D. Houghton, FSA, MAAA

Experience Level: All

Actuaries have traditionally set assumptions and used models for pricing, financial reporting, modeling, and risk management functions. Assumption and model governance has been an evolving practice with growing interest as of late due to ORSA-influenced regulations. Now with the advent of PBT, a special emphasis will be placed on governance as the valuation world shifts to a new era. Experts at this session will discuss the practical issues of model and assumption governance in a PBR world, especially in light of the requirements of VM-G.

At the conclusion of the session, attendees will be able to:

  • Describe assumption governance developments and leading practices, especially as it relates to PBR;
  • State the requirements of VM-20;
  • Prioritize improvements; and
  • Better manage stakeholder expectations.

Session Coordinator(s) TBD

Facilitator(s)

Credits: 1.80 CPD

Competency: Technical Skills & Analytical Problem Solving

Moderator(s): Donna R. Claire, FSA, MAAA, CERA; James A. Miles, FSA, MAAA; William M. Sayre, FSA, MAAA

Presenter(s): TBD

Experience Level: Intermediate to Advanced

By now actuaries should be familiar with the PBA Implementation Guide. Experts at this workshop will provide a chance to discuss implementation of the revised SVL with peers.

At the conclusion of the session, attendees will be able to compare their preparedness to those of peers.

Session Coordinator(s) James A. Miles, FSA, MAAA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.80 CPD

Competency: Strategic Insight and Integration

Moderator(s): Kelly J. Rabin, FSA, MAAA

Presenter(s): Paul Fedchak, FSA, MAAA; Karen K. Rudolph, FSA, MAAA; Uri Sobel, FSA, MAAA; Robert P. Stone, FSA, MAAA

Experience Level: All

Experts at this session will look at PBR from a product development perspective. They will consider historical pricing processes and how these change with a PBR valuation requirement. Case studies will be used to offer insights to help guide insurers' pricing and product development activities under VM-20 requirements. This session will provoke the questions necessary for a company to begin formulating pricing methods under PBR.

At the conclusion of the session, attendees will be able to compare the historical product development process to the potential product development process under PBR.

Session Coordinator(s) William M. Sayre, FSA, MAAA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.80 CPD

Competency: Strategic Insight and Integration

Moderator(s): Pamela A. Hutchins, FSA, MAAA

Presenter(s): Bryan Neil Amburn, FSA, MAAA; Timothy C. Cardinal, FSA, MAAA, CERA; Jeffrey David Lee, ASA, MAAA

Experience Level: Intermediate

Experts will begin this session with a brief presentation on research projects and developments that are beneficial to small companies. After this presentation, attendees will be split into small group discussions (facilitated by the faculty) on the issues and challenges faced by chief and corporate actuaries, with a focus on sharing best practices. By discussing critical issues with peers, attendees will leave with ideas to incorporate in their respective business environments.

At the conclusion of the session, attendees will be able to better determine how they will respond to some of the challenges they face and establish relationships with several actuaries facing similar issues.

Session Coordinator(s) Bryan Neil Amburn, FSA, MAAA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.80 CPD

Competency: Results-Oriented Solutions

Moderator(s): Bryan Joseph O’Neill, FSA, MAAA, CERA

Presenter(s): Jason Michael Gratson, ASA, EA; Fei Xie, FSA, FCIA

Experience Level: Intermediate

Experts at this session will review a framework for counterparty risk analysis, including evaluation of counterparty financial strength, ERM framework, sufficiency of stress testing and capital management processes, as well as robustness of counterparty corporate governance.

At the conclusion of the session, attendees will be able to understand a counterparty risk management framework and how to evaluate the 'safest available' annuity provider in the group annuity pension buyout market.

Session Coordinator(s) Brian Joseph O’Neill, FSA, MAAA, CERA

Facilitator(s)

2:45 p.m. – 3:15 p.m.