Description: Regular Corner where the Editor introduces the new issue and summarizes its content.

Description: Learn from panelists from different companies as they come together to discuss their experiences.

Description: Learn how modernization of data, models, and technology are influencing workflows. This webcast will address how workflows are changing in response to new regulatory requirements and the impacts the changes have on modeling and end-to-end future state operating models. Industry leading actuaries will discuss: How team collaboration can increase quality and speed of reporting to internal and external stakeholders How to strengthen controls and compliance frameworks across finance and actuarial departments How to modernize actuarial input/output for strategic analysis and insights How to attract and retain top talent by improving opportunities for actuaries There will also be dedicated time to ask questions of those who have made the transition.

Description: Regular update provided by the Chair of the Joint Risk Management Section on initiatives put forth by the section council for the current year.

Description: Recent section activities

Description: Editor's note in Risk Management

Description: In order for an organization to benefit from artificial intelligence/machine learning (AI/ML) models, it requires the involvement of different business areas. During this webcast, professionals from data analytics, audit and risk areas will address challenges and provide solutions for working together to develop, implement, use and risk manage AI/ML tools. Throughout the discussion, the presenters will discuss: • Defining and exploring the challenges and objectives between data scientists, domain experts and control functions • Risk management – model risks and other risks • End-to-end model validation • Model performance vs. interpretability/understandability trade-offs • What to audit – auditor’s challenge and solutions

Description: An update on the activities of the JRMS Council.

Description: The underlying premise of this paper is that enterprise risk management (ERM), as it continues to evolve as both a process and a collection of risk management techniques, can benefit from several different (but ultimately somewhat related) “megatrends.” The core of this paper concentrates on the impact on ERM of one of those megatrends: the emergence of a behavioral economics perspective, which is beginning to have a large impact on our understanding of the economy and on certain economic and business processes. The evolution and context of behavioral economics are described, and potential implications for the practice of ERM are discussed. The paper culminates with a variety of specific suggestions for ERM practice in response to findings from behavioral economics research, specifically a number of human cognitive dissonances inconsistent with traditional economic theory.

Description: Note from the Council Corner providing an update to our JRMS members on recent / upcoming activities.