Description: This article is a request for new volunteers to participate in the Risk Management Task force projects.

Description: Financial regulators, rating agencies and many commentators have blamed weak Risk Culture for many of the large losses and financial company failures of the past decade. But their exposition regarding a strong Risk Culture only goes as far as describing a few of the risk management practices of an organization and falls far short of describing the beliefs and motivations that are at the heart of any culture. This discussion will present thinking about how the fundamental beliefs of Neo Classical Economics clash with the recommended risk practices and how the beliefs that underpin Enterprise Risk Management are fundamentally consistent with the recommended risk management practices but differ significantly from Neo Classical Economics beliefs.

Description: This session 151TS of the New Orleans Spring Meetinguses real life examples to demonstrate the more complex collateral types and structures and the risks and rewards of these financial instruments. From the Record of the Society of Actuaries, Volume 27, No. 3.

Description: An exchange of ideas between David Ingram and Jesse Hobbs about the stages of risk.

Description: This column lists articles and other forms of media The Actuary’s contributing editors feel will be of interest to their fellow actuaries.

Description: In it’s insurance capital model, Standard & Poor’s Ratings Services has established criteria to adopt the NAIC’s stochastic approach to variable annuity risk. This approach, which replaces existing static charges, better reflects the products’ risk.

Description: Three drivers that are often not at the top of lists about the origins of the crisis: a At some level, every entity that handles risks should be assessing what would happen if they ended up owning the risk that they thought they would only have temporarily b The change in the real estate market that was driven by the non-marginal amount of new subprime buyers who came into the market and c Risk managers should always be aware that marginal analysis can produce incorrect results.

Description: Discussion of asset coinsurance, including how the arrangements work, risks involved, goals of transactions, relationship issues between the ceding and assuming companies, and regulatory issues.

Description: In this article the author discusses how ERM must be effectively applied to have the desired result. Stated another way, the banks that followed the basic precepts of ERM fared better in the crisis than those that didn't.