Description: A summary of Modeling Section-sponsored sessions at the 2016 Life/Annuity Symposium, covering model risk management, model governance, and model efficiency.

Description: November 2017 issue of The Modeling Platform by the Modeling Section. Practical information for actuaries, trends that impact section, section activities.

Description: Statistics were invented to describe heterogeneity and are now applied to tackle alea. It may not be appropriate. Let's clarify their field of relevance.

Description: In this article, industry experts who have gone through the journey of establishing and executing a mature actuarial model risk management function share their tips and tricks through three case studies that convey commonly faced issues

Description: Tells about the top 10 risks that are ranked by insurers to be the most dangerous.

Description: The article focuses on findings from EY's survey in 2017 of CROs at 40 insurers in North America. Changing roles in the age of disruption are investigated.

Description: This paper examines the concept on an Enterprise Risk Management Office, ERMO, and is investigated relative to the project management office, PMO, another enterprise-wide entity that has evolved in corporations. Guidelines and best practices for an ERMO are also suggested. From 2006 Enterprise Risk Management Symposium, M-AS06-1.

Description: Description of considerations and perspectives to be taken into account by incentive compensation plans.

Description: This article discusses some of the ideas of pension finance, how to present such information, and how it was presented to the New York City Retirement Systems (NYCRS) in a way that made it available to other interested parties, including the public.

Description: Many top-performing businesses aren’t just risk aware, but rather risk intelligent. Such a posture helps prepare companies for a major event and can demonstrate to a regulator or auditor that an appropriately strong control framework is in place. Better still, companies gain real strategic value from a “risk adjusted” understanding not only of their threats and vulnerabilities, but also the upside opportunities associated with various risks. It starts with having both qualitative and quantitative information to identify, assess and manage risks. Strategic risk management, at its core, is about creating value by increasing transparency and accountability, and quality of information. More than a mere compliance exercise, effective risk management enables more informed strategic decision making, increased accountability and transparency, a greater likelihood of organizational success, and – ultimately – competitive advantage, as borne out by many studies that correlate risk management and financial results.