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: 2011 Enterprise Risk Management Symposium, Chicago. The stated goal of this paper is to describe the general idea of risk appetite, its implementation framework and the process to set it within a bank with a strong focus on the interactions with other processes such as planning and control, performance evaluation and communication.

Description: A sound enterprise risk management (ERM) framework functions as an ecosystem by balancing the interdependencies of its elements while constantly adapting to an ever‐changing, external environment. Each stakeholder has a unique role to play in forming a thriving ERM ecosystem by integrating risk‐conscientiousness in decision‐making. A resilient ERM framework has a single well‐ understood risk language and culture to promote healthy risk‐taking behaviors. The central focus of such a framework is concentrated around all stakeholders and everyone is held accountable. Every day, external forces can potentially disrupt how we operatively conduct business. Unforeseen changes in regulation, market trends, terrorist’s attacks and extreme natural disasters are often categorized as extremely adverse. How then will your ERM ecosystem survive the one‐in‐200 event and continue to flourish through dynamically changing environments?

Description: The author recommends the use of "minimally destructive scenarios" as part of an ORSA process, in order to deal with cognitive bias that can occur in risk decision-making. Part of the essay collection "Risk Metrics for Decision Making and ORSA"

Description: Research report describing the results of an Emerging Risks Survey conducted in 2013. The report includes comparisons to the five previous surveys as well as a survey sent to INARM members in April 2008.

Description: Research report describing the results of an Emerging Risks Survey conducted in 2015. The report includes comparisons to the previous surveys.

Description: Insurance companies use derivatives to manage and mitigate risks that are inherent in their investment or liability portfolios, including traditional asset/liability matching, dynamic hedging and static hedging. The authors explore how Solvency II will influence life insurers’ hedging strategies.

Description: Insurers can leverage information from their required Own Risk Solvency Assessment (ORSA) and use it internally to improve the likelihood of solvency and gain a competitive advantage.

Description: French language version of Risk Management, August 2014 newsletter.

Description: In the June 2014 issue of Product Matters, Doug Robbins of Pacific Life authored a fascinating article entitled “Velocity of Diversification.” Therein, he proposed a pricing measure that describes the “…speed at which confidence in profitability is attained”. How can stochastic modeling of mortality be applied to analyze the velocity of diversification, and how would that measure be affected by volatility in the underlying assumptions?