Description: In this article, the editor talks about the contents of this issue of the Risk Management Newsletter. Also mentioned are the three categories the newsletter tries to cover 1. Risk Identification, 2. Risk Response, and 3. Risk Culture & Disclosures.

Description: Increasing uncertainties and volatility in financial as well as real goods markets increasingly reveal that controlling systems based on deterministic and pseudo-exact values are insufficiently eligible to manage the business activities. This raises the question how management systems can be modified to generate the adequate management impulses in volatile periods. Risk management deals from identifying, evaluating and aggregating chances and risks, which again determine the potential fluctuation range of relevant performance indicators. Everyday corporate life shows that risk management is considered important; but the corresponding processes to identify, evaluate and report chances and risks are seldom part of established decision criteria. This “paradox” lets assume that risks are managed in various differing and unsystematic ways. The combination of traditional controlling methods and risk management is not primarily a methodological challenge. The behavior of the whole organization, practiced over a long-year period, has to be transferred into a new corporate culture of transparent dealing with chances and risks. This paper describes the necessary change management process, which has to come along with necessary methodological modifications.

Description: An update on the activities of the JRMS

Description: An update to the risk management readers on what the JRMS is planning to do over 2023 to serve its membership.

Description: Insight on SOA research.

Description: This article discusses the risk management skills and aptitudes needed for the future.

Description: The editors introduce the articles in this issue of the newsletter.

Description: The editor of the Risk Management newsletter summarizes the articles in this issue which cover Enterprise Risk Management, Systemic Risk and Variable Annuities.

Description: This article discusses how the courts generally consider the same five factors when deciding whether to uphold the provision, and firms should carefully review and implement these factors into their limitation of liability provisions before a suit is brought.

Description: Recent events and commentary from a member of the JRMS council.