Description: Is Risk/Return a sound tool for decision-making? No. It is not consistent, not objective, distorts decision and degrades governance. Why? What shall we do then?

Description: The authors introduce an alternative to Tail Contribution Analysis TCA for analyzing business segments and strategies called Economic Profit Analysis EPA. They discuss EPA’s key feature, “volatility replication,” an intuitively appealing process of building investor expectations and capital market information into the risk-and-return measurements used to evaluate strategic decisions. Finally, they illustrate the benefit of using EPA in overcoming the problems of TCA and thereby providing concise reliable information for business decision making.

Description: Feature article describing how due to the recent financial crisis, fund trustees, plan sponsors, and administrators are reconsidering traditional asset-allocation strategies.

Description: Pricing longevity swap reinsurance transactions consists of a number of different actuarial tasks, each of which hides potential pitfalls. The article outlines the pricing process, which includes a detailed analysis of current mortality experience of the portfolio to be transferred, choice and calibration of an appropriate model for mortality improvement trends and the calculation of a risk margin which reflects the uncertainty associated with the pricing best-estimate, which includes mis-estimation risk, model risk, longevity basis risk and stochastic uncertainty.

Description: Fiduciaries play a vital role in the financial health of a pension plan. How they carry out their duties is a question of increasing interest to beneficiaries, regulators, shareholders and taxpayers. Having a clear, logical and well-documented risk management process in place can make a big difference.

Description: This paper considers the risk that actual mortality will be lower than the mortality assumed when pricing life annuities on impaired lives. It develops a method for managing this risk through a Provision for Adverse Deviation PAD.

Description: This article provides an overview of the Stock Value Approach (SVA) to ERM as a solution to these common challenges.

Description: Importance of bringing the DevOps mechanism in order to reduce the operational risks and to create a stable audit compliance practice in Actuarial world.

Description: This article discusse key considerations to account for while planning for and executing the initial actuarial model handoff from development to production.

Description: This article discusses the impact of ERM on smaller insurance companies.