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 article discusses how unemployment and underemployment information can help improve economic forecasts, insurance assumption setting and risk management. It summarizes the current modeling practices of unemployment which shows a deficiency of using unemployment/ underemployment information in actuarial works. It also gives three examples of using unemployment/underemployment information for economic assumption setting, new business growth prediction and stress scenarios related to the labor market.

Description: This 2000 word essay won the Joint Management Risk Section 2016 Essay Prize, summarizing the present challenges, potential solutions and Actuarial opportunities.

Description: This paper demonstrates the use of Quantile Regression in the development and understanding of conditional value at risk (VaR) models for enterprise risk management.

Description: This paper demonstrates that extreme value theory (EVT) can be used as a tool to model policyholder behavior in the extreme tail. This paper applies EVT to the study of variable annuity dynamic lapse behavior in the extreme tail. It illustrates a process whereby a company can fully model policyholder behavior, including the extreme tail, with existing data. No judgment about the extremal behavior is necessary.

Description: ICP 16 and its requirement for an Own Risk and Solvency Assessment (ORSA) will offer opportunities for the actuarial profession to provide uniquely well-educated and professional assistance to this process.

Description: Read the August 2016 issue of Risk Management published by the Joint Risk Management Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: This article provides an overview of the evolution and rationale for Own Risk Solvency Assessment (ORSA), as well as practical implications for insurers as they begin to design an ORSA process.

Description: Read the March 2017 issue of Risk Management published by the Joint Risk Management Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: An exploration of risk management challenges in the Middle East, including historical overcapitalization, inadequate data and governance issues.