Description: While Model Efficiency and Model Governance may seem like completely separate topics, there is an intersection of them that should be of growing interest to modeling actuaries. This column from the Modeling Section Chair explores this area, asking how we will govern the increasing use of innovative modeling efficiency techniques.

Description: Essays advocating for incentive compensation linked to the level of risk in an organization.

Description: Reminding that incentive compensation needs to hit the target on average, needs to have variability related to the level of control over company’s fortune and ensure people are participating.

Description: Comments on Robert North’s paper, a real case study of disclosing MVL in a public employee retirement system.

Description: Part 2 of a 2 part series. Tells about 5 concepts that can be thought to frame ERM. This article is about Alignment, Adaptability and Resilience.

Description: Suggestions on reforms to avert another financial crisis by placing greater emphasis on Board competencies, particularly related to banking and risk management.

Description: Demonstrating that incentive maximization could lead to failure using game theory. This is illustrated by the optimum strategy for the Prisoner Dilemma single period, multi period and infinite period that could be mutually destructive or beneficial.

Description: A response to the comments on the paper.

Description: Hot topics and emerging trends in assumption development in US life insurance companies

Description: Risk governance is an important part of any risk management process, yet the insurance industry has not implemented the procedures and controls as extensively as banking. This session looks at the elements of risk governance and discusses their importance to the risk management process. Specific emphasis is placed on risk management organizational structures and how different organizational structures may facilitate effective risk management processes. Insurance and banking practices are contrasted. From the Record of the Society of Actuaries 2005, Volume 31, No. 1: 2005 New Orleans Life Spring Meeting, May 22-24, 2005, Session 83 OF.