Description: In this issue, we’re pleased to share with our members some recent nice activities and initiatives of AFIR- ERM on the risk management space. Please fi nd useful information in the article below from Michael Sherris, Chairman of AFIR- ERM Section.

Description: Defines and discusses operational risk as it exists in every industry, especially as it exists in the financial services industry.

Description: Cyber threats and their costs are a continuously evolving, moving target and a source of uncertainty.

Description: To deal with future correlation crises, the author suggests the implementation of ‘’quanlitative analysts’’ (‘Quanls’) in the enterprise risk management (ERM) process: risk managers who are able to lead interdisciplinary ERM studies from a jointly qualitative and quantitative point of view, with an emphasis on dynamics.

Description: Most reasonable risk mitigation strategies provide benefit in some circumstances, but come at a cost that adversely affects results in other scenarios. A research paper by the authors considers the view of multiple stakeholders to answer this question, resulting in a process they call Trifurcation.

Description: This article talks about the challenges facing the FDA, especially those arising from the globalization of the pharmaceutical supply chain.

Description: Value-at-Risk—an Overview Part Two of Two by Glyn Holton from The Financial Reporter, May 1999, Issue No. 39.

Description: this article provides an overview of coverage and claim trends for managed care medical excess of loss insurance and reinsurance programs. it addresses features such as deductible, maximum benefit, inside limits , comprehensive versus non- comprehensive , and claims by diagnosis for commercial , Medicare and Medicaid risk. It also reviews cost containment support programs for catastrophic claims .

Description: The author compares and contrasts methodologies used for value investing and enterprise risk management.

Description: Applications of Stress Testing