Description: This brief article details my observations as a senior consultant for a leading actuarial consultancy across the Middle East and South Asia regarding ORSA. It highlights key challenges, potential solutions and describes the dichotomy of management and consultant paradigm.

Description: The editors provide highlights of the articles included in the August 2015 issue of Risk Management.

Description: In this article the author discusses creating a common language for ORSA, capital and stress.

Description: Risk management and capital budgeting are two critical components of the corporate decision process. They often need to be considered jointly at the corporate level because of their natural interaction through the dependent risk exposures and other synergetic relationships within an intricate corporate structure in a dynamic business environment. . This paper develops an integrated framework that aligns these two important corporate strategies across business divisions to optimize the streamlined enterprise strategic goal in a multi-period setting. The proposed integrated framework can serve as a practical guideline for corporate executives to optimally coordinate capital budgeting and risk management at the enterprise level.

Description: In this article, the author explains what a CAT model is.

Description: European insurance regulation pretends to capture and rely on the 1-year 1-in-200 VaR. But there cannot exist any scientific calibration of such measure. Why?

Description: This paper presents actuarial (mathematical) models for cyber breach probability as function of the level and allocations of security spending by a firm.

Description: Duration matching is a risk management strategy, commonly used in the insurance industry, where the duration (price sensitivity to a yield curve movement) of an asset portfolio is adjusted to be made equal to the duration of the liability. However, this approach has flaws. In this essay, I note some key failures of duration matching and offer a potential alternative.

Description: Strategic Risk Management was given lower priority in a recent survey of ERM Objectives. This article tells how the author believes that recent events have caused many to shift to a more short term focus and in the future there will be a shift back to a priority for the longer term view that stands behind Strategic Risk Management when the environment settles down and things again seem to be more predictable.

Description: The editors provide highlights of the articles included in the April 2016 issue of Risk Management.