Empowering the Modern Actuary
Thank you for joining us for the SOA 2020 Valuation Actuary Virtual Symposium. We hope you found the sessions valuable for your professional development and the meeting met your expectations.
Registered attendees can access the meeting content through March 1, 2021. Log in to the event page using your SOA credentials to view recordings, handouts and bonus content.
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Monday, August 31
9:00 – 10:15 a.m. CST Opening General Session – Statutory Life and Annuity Issues Presentation
Moderator(s): Thomas A. Campbell, FSA, CERA, MAAA Presenter(s): Thomas A. Campbell, FSA, CERA, MAAA; Donna R. Claire, FSA, CERA, MAAA; David E. Neve, FSA, CERA, MAAA Session Description: |
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10:15 – 10:45 a.m. CST Break |
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10:45 a.m. – Noon CST - Concurrent Sessions 1 – 75 Minutes Your One Stop Guide to all Principle-Based Reporting Presentation
Moderator: Angela McShane, FSA, CERA, MAAA Presenter(s): Benjamin Slutsker, FSA, MAAA; Rachel C. Hemphill, FSA, MAAA, FCAS Session Description: IFRS 17: End of the World or the Beginning? Moderator(s): Kelley M. Weiss, FSA Presenter(s): Rodrigo Careaga, ASA, MAAA; Kyle Stolarz, FSA, MAAA; Kelley M. Weiss, FSA Session Description: Many companies are heads down on their implementation journey and haven't begun to think about what happens once IFRS 17 goes live, what the business implications are, and new Key Performance Indicators for steering the business. The presenters will shine light on these unknowns and will also discuss how IFRS 17 will change the role of the actuary and how actuaries can begin preparing for those changes now. Modeling Techniques: PBR and Beyond Presentation
Moderator(s): TBD Presenter(s): Bill Cember, FSA, MAAA; Reanna M. Nicholsen, FSA, MAAA; Kathryn M. van Ryn, FSA, MAAA Session Description: Discussion topics will include items such as:
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12:00 – 12:45 p.m. CST Lunch Break and Networking |
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12:45 – 2:00 p.m. CST - Concurrent Sessions 2 – 75 Minutes Principle-Based Reserve Projection Questions, Answered! Presentation
Moderator(s): Dylan Strother, FSA, MAAA Presenter(s): Kevin Piotrowski, FSA, CERA, MAAA; Benjamin Slutsker, FSA, MAAA Session Description: IFRS 17: How May Future KPIs Look Like? Presentation
Moderator(s): Ralph M. Ovsec, FSA, FCIA, MAAA Presenter(s): Dan Kim, FSA, CERA, MAAA; Thorsten Wagner Session Description: Improving, Automating, and Optimizing Actuarial Processes Moderator(s): Ramandeep Nagi, FSA, FCIA, MAAA Presenter(s): Ramandeep Nagi, FSA, FCIA, MAAA; Benjamin C. Farnsworth, FSA, CERA, MAAA; Eric J. Forfa, FSA, MAAA; John Johansen Session Description: |
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2:00 – 2:30 p.m. CST Break |
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2:30 – 3:45 p.m. CST – Concurrent Sessions 3 – 75 Minutes Mortality Under PBR: Deep Dive on Emerging Topics Moderator(s): Serena K. Chao, FSA, MAAA Presenter(s): Mary J. Bahna-Nolan, FSA, CERA, MAAA: Timothy C. Cardinal, FSA, CERA, MAAA; Nina Han, FSA, CERA, MAAA; Rachel C. Hemphill, FSA, MAAA, FCAS Session Description: In this session, the presenters will share best practices and considerations on setting mortality in a PBR context, including but not limited to:
IFRS 17 Implementation Considerations for Variable Annuity (VA) with a Focus on Hedging Presentation
Moderator(s): Yang Jing, FSA, MAAA Presenters: Joshua Dobiac, Yang Jing, FSA, MAAA Session Description:
The first section will go over VFA and GM approaches that are available for VA writers. Both approaches have their own challenges. We will highlight some of the challenges and how to approach/overcome them. Additionally, we will discuss how hedging/ALM can help smooth the transition. The second section will go over the details of implementation process of a VA reinsurer. The case study will explore valuation challenges unique to reinsurers assuming business that would otherwise be valued under the VFA. It will also go over some of the modeling difficulties, project management, and database requirement. Raising the Bar on Model Validation Presentation
Moderator(s): Dylan Strother, FSA, MAAA Presenters:Paul Chen, FSA, MAAA; Patrick Davidson, ASA, CERA Session Description: In this session, you will hear from those that have been deeply involved in building model validation frameworks and tools in responses to regulatory changes GAAP Long Duration Targeted Improvements (“LDTI”) and Principles Based Reserves (“PBR”). |
Tuesday, September 1
9:00 – 10:15 a.m. CST – Concurrent Sessions 4 Life PBR and the Treatment of Reinsurance: Update and Insider Perspectives Presentation
Moderator(s): Chris Whitney, FSA, MAAA Presenter(s): Jason E. Kehrberg, FSA, MAAA; Scott O’Neal, FSA, MAAA; Chris Whitney, FSA, MAAA Session Description: This session will provide an update on this important issue as well as perspectives on how the resolution of this issue was approached and lessons learned for the future from those intimately involved in this work. Presentation
Moderator(s): Kelly J. Rabin, FSA, MAAA Presenter(s): Megan Guy Session Description: Mortality Improvement Practices and Future Projection Modeling Presentation
Moderator(s): Larry N. Stern, FSA, MAAA Presenter(s): Connie Dewar, FSA, FCIA; Marianne Purushotham, FSA, MAAA; Larry N. Stern, FSA, MAAA Session Description: |
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10:15 – 10:45 a.m. CST Break |
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10:45 a.m. – 12:00 p.m. CST – Concurrent Sessions 5 Annuity Principles-Based Reserving (“PBR”) Update Presentation
Moderator(s): Nicholas E. Carbo, FSA, MAAA Presenter(s): Nicholas E. Carbo, FSA, MAAA; Kaihua Yu, FSA, MAAA Session Description: LDTI Impact on Your Auditors: What’ll They Be Asking For? Moderator(s): Michael Hayes, FSA, MAAA Presenters: Robert A. Hanes, FSA, MAAA; Michael Hayes, FSA, MAAA Session Description: The Human Element of Modernization Presentation
Moderator(s): Chad Record, ALMI Presenters: Elizabeth Dietrich, FSA, CERA, MAAA: Kelly Hennigan, FSA, CFA; Chad Record, ALMI; Matthew J. Wininger, FSA, MAAA Session Description: |
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12:00 – 12:45 p.m. CST Lunch Break |
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12:45 – 2:00 p.m. CST – Concurrent Sessions 6 Non-Variable Annuity PBR and Statutory Reserving Updates Presentation
Moderator(s): Jason E. Kehrberg, FSA, MAAA Presenter(s): John Miller, FSA, MAAA; Chris Conrad, FSA, MAAA; Benjamin M. Slutsker, FSA, MAAA Session Description: LDTI Data Requirements and Disclosures Moderator(s): Gavin T. Stewart, FSA, MAAA Presenters: Steven Abel; Michael C. Hayes, FSA, MAAA Session Description: Asset Modeling Best Practices in the Current Environment Presentation
Moderator(s): Marc Altschull, FSA, MAAA Presenters: Daniel Finn, FCAS; Patrick Ledlee, FSA; Frederick J. Hill, FSA Session Description: |
Wednesday, September 2
9:00 – 10:15 a.m. CST – Concurrent Sessions 7 Lessons Learned by VM-21 Early Adopters Presentation
Moderator: John B. Brady, FSA, MAAA Presenter(s): Guillaume Briere-Giroux, FSA, MAAA; John B. Brady, FSA, MAAA; Zohair A. Motiwalla, FSA, MAAA Session Description: US GAAP LDTI The Road So Far: What We’ve Learned Moderator(s): Samuel J. Keller, FSA, MAAA Presenter(s): Maria R. Itteilag; Michael Lundquist, FSA, MAAA Session Description: How Capital is Used in Business Decision Making Presentation
Moderator(s): David Alison, FSA Presenter(s): David Alison, FSA; Zeeshan Rehmani, FSA, MAAA Session Description:
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10:15 – 10:45 a.m. CST Break |
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10:45 a.m. – 12:00 p.m. CST – Concurrent Sessions 8 Variable Annuity Reserve and Capital Reforms: Key Implementation and Reporting Issues Presentation
Moderator(s): Parul Bhatia, FIA, FIAI, MAAA Presenter(s): Zohair Motiwalla, FSA, MAAA; Yuan Tao, FSA, MAAA Session Description: Presentation
Moderator(s): Alexandre Lemieux, FSA, MAAA Presenter(s):Brian J. Foley, FSA, MAAA; Alexandre Lemieux, FSA, MAAA; Christopher Murphy, FIAA Session Description: Marvelous Model Risk Management Presentation
Moderator(s): Emily Cassidy, FSA, MAAA Presenter(s): William Abram, ASA, MAAA; Mandy Lee, FSA, MAAA; Sebastian Polczynski, ASA, MAAA; Darren Zhang, FSA, MAAA Session Description: Risk management and the development of models is an area where insurance companies have performed well in the past. It is expected that frameworks currently exist within companies; the governance, documentation, validation and control of model risk are likely to be well established practices. The challenge that insurers must consider is how well these have been adopted throughout the company for all models used to make business decisions and if the same level of rigor has consistently been applied. Regulation in a high-velocity actuarial environment will to be a challenge that actuaries must spearhead and must be proactive in guiding rulemaking to ensure continued innovation while putting data security and risk management first. |