Description: Regular update provided by the Chair of the Joint Risk Management Section on initiatives put forth by the section council for the current year.

Description: An update on the activities of the JRMS

Description: An update to the risk management readers on what the JRMS is planning to do over 2023 to serve its membership.

Description: Feature article summarizing a talk given by Andrew Lo at the SOA 2009 Annual Meeting on the credit crisis and why risk management failed to stop the excessive risk taking.

Description: Crises are devastating. They leave behind a high amount of entropy unemployment, poverty, lack of safety. But this is half the truth. The other half says that crises are to some extend good, because they provide a natural crash test to discover current practices’ risks and limitations, and in response, give rise to more efficient regulation, to financial innovations and to the wakening of the vitalizing powers of society, as the old and corrupted die and new ideas emerge and give us the opportunity to reflect upon the future we want to have.

Description: In this article the author suggests a game-changing idea - Require as part of the governance process an “independent risk audit” performed by a CERA.

Description: On behalf of the Society of Actuaries, the Casualty Actuarial Society and the Canadian Institute of Actuaries, we are pleased to provide a series of essays on Risk Management: The Current Financial Crisis, Lessons Learned and Future Implications. This e-book is the result of a call for essays on the subject coordinated by a variety of actuarial groups. This is the introduction to the book of Essays. See the SOA web site for the full series of essays.

Description: The problem facing risk distributors is that product pricing is sticky, whereas the market price of risk can be quite volatile. This disconnection can become particularly severe during market downturns. The problem facing risk insurers is maintaining market share in benign market conditions when the market price of risk is low. Strategies that are dynamic with respect to time are difficult in practice, since they require more capital in volatile markets.

Description: This article discusses the actuarial profession and its role and needed skill set development going forward in meeting the needs of businesses for risk management and capital management

Description: This paper presents an advanced approach to enterprise risk management that, according to the author, significantly improves upon current approaches. The two fundamental elements are a focus on the management of strategic plans and a heavy reliance upon probability theory.