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Effective Documentation in Model Risk Management
into the map. Manual items often require special care and con- sideration in effective model management ... and other indirect experience items as well as direct application of profes- sional judgment to assumptions ...- Authors: Robert Crompton
- Date: Apr 2016
- Competency: Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: The Modeling Platform
- Topics: Enterprise Risk Management>Operational risks
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Economic Scenario Generators, Part III: In-depth ESG Case Study—Academy Interest Rate Generator
Economic Scenario Generators, Part III: In-depth ESG Case Study—Academy Interest ... volatility clustering, and a rising yield curve. The primary use case is to support US capital and reserve standards ...- Authors: Rahat Jain , Dean Kerr, Matthew Zhang
- Date: Jul 2021
- Competency: Results-Oriented Solutions; Technical Skills & Analytical Problem Solving
- Publication Name: The Modeling Platform
- Topics: Life Insurance; Modeling & Statistical Methods
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Model Governance Versus Normalized Policy Deviance
and history of policy deviations should be a primary red flag. A single deviation from model policy ... from isolated behavior, organizations must take care that punitive actions are proportional to culpability ...- Authors: Robert Crompton
- Date: Apr 2018
- Competency: Communication>Difficult message delivery; Leadership>Change management; Leadership>Influence; Professional Values>Ethical standards
- Publication Name: The Modeling Platform
- Topics: Actuarial Profession>Best practices; Actuarial Profession>Management skills
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Adding Value with Model Validation
likely to deliver long- term benefits unless the primary objective for each component is adding stakeholder ... establishing controls. A model owner that has been the primary or even sole control over a model may see model ...- Authors: Winston Hall, Veltcho Natchev, Mike Minnes
- Date: Nov 2017
- Competency: Communication>Active listening; Communication>Difficult message delivery; Leadership>Change management; Leadership>Thought leadership; Technical Skills & Analytical Problem Solving>Incorporate risk management; Technical Skills & Analytical Problem Solving>Innovative solutions; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: The Modeling Platform
- Topics: Actuarial Profession>Best practices; Enterprise Risk Management>Governance
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Modeling Sessions at the 2016 Life/Annuity Symposium: Summary
the industrialization is reducing the amount of direct human “touch” on the whole process. Again, one ... the model owner. His prior- itization was to take care of errors first, then look at model control issues ...- Authors: Mary Campbell
- Date: Dec 2016
- Competency: Professional Values>Practice expertise; Technical Skills & Analytical Problem Solving>Innovative solutions
- Publication Name: The Modeling Platform
- Topics: Enterprise Risk Management>Governance; Modeling & Statistical Methods>Deterministic models; Modeling & Statistical Methods>Dynamic simulation models; Modeling & Statistical Methods>Modeling efficiency; Modeling & Statistical Methods>Stochastic models
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Modeling Platform
levels since the 2008 financial crisis. This has direct implications for interest- sensitive life insurance ... off in the long term. Whether achieved through direct IT departmental over- sight or more independently ...- Authors: Society of Actuaries
- Date: Dec 2015
- Publication Name: The Modeling Platform
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The Modeling Platform, Issue 9, April 2019
CENTRALIZING MODEL DEVELOPMENT IS WORTH IT Naturally, the primary advantages and disadvantages of a centralized ... produced by these generators must be tested with care, to confirm that market prices are reproduced and ...- Date: Apr 2019
- Publication Name: The Modeling Platform
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GAAP Long-Duration Targeted Improvements: Whether Largely a Compliance or Modernization Exercise, the Considerations for the Modeling Actuary are Numerous
GAAP Long-Duration Targeted Improvements: Whether Largely a Compliance or Modernization Exercise, ... model and associated infrastructure will have a direct impact on the efficiency and effectiveness of the ...
- Authors: Ryan Laine, Dave Czernicki, Jean-Philippe Larochelle
- Date: Apr 2021
- Competency: Strategic Insight and Integration
- Publication Name: The Modeling Platform
- Topics: Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]; Modeling & Statistical Methods>Modeling efficiency
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The Modeling Platform, April 2018, Issue 7
and history of policy deviations should be a primary red flag. A single deviation from model policy ... from isolated behavior, organizations must take care that punitive actions are proportional to culpability ...- Authors: Society of Actuaries
- Date: Apr 2018
- Competency: Professional Values>Practice expertise; Technical Skills & Analytical Problem Solving>Incorporate risk management; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: The Modeling Platform
- Topics: Enterprise Risk Management>Governance; Modeling & Statistical Methods>Modeling efficiency
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Model Governance: Controls and Culture
assigned to implement or check inputs. Certainly, care needs to be taken that the people checking the ... elsewhere. OTHER BENEFITS OF MODEL GOVERNANCE The primary advantages of an effective model governance program ...- Authors: Uri Sobel, Ryan Krisac, Zohair Motiwalla
- Date: Apr 2018
- Competency: Relationship Management; Strategic Insight and Integration; Technical Skills & Analytical Problem Solving
- Publication Name: The Modeling Platform
- Topics: Enterprise Risk Management>Governance; Modeling & Statistical Methods>Modeling efficiency