Description: Many top-performing businesses aren’t just risk aware, but rather risk intelligent. Such a posture helps prepare companies for a major event and can demonstrate to a regulator or auditor that an appropriately strong control framework is in place. Better still, companies gain real strategic value from a “risk adjusted” understanding not only of their threats and vulnerabilities, but also the upside opportunities associated with various risks. It starts with having both qualitative and quantitative information to identify, assess and manage risks. Strategic risk management, at its core, is about creating value by increasing transparency and accountability, and quality of information. More than a mere compliance exercise, effective risk management enables more informed strategic decision making, increased accountability and transparency, a greater likelihood of organizational success, and – ultimately – competitive advantage, as borne out by many studies that correlate risk management and financial results.

Description: 2011 Enterprise Risk Management Symposium, Chicago. This paper starts by defining and discussing the nature of risk and its primary relationship to capital preservation. The paper then continues with a guide for implementing a company’s risk appetite statement for a variable annuity product.

Description: This risk bulletin, published by the Society of Actuaries, provides insights and expertise on critical business issues from industry leading enterprise risk management actuaries.

Description: Our goal in this article is to dive deeper into the role longevity swaps could play in the US PRT market by drawing comparisons to the UK and highlighting recent commercial developments that can jump start the US market’s need for longevity reinsurance.

Description: Research report describing the results of an Emerging Risks Survey conducted in 2016. The report, the tenth in a series, includes comparisons to the previous surveys.

Description: 2011 Enterprise Risk Management Symposium, Chicago. This is the abstract of the entitled paper.

Description: In a very general setting this paper describes a straightforward, non-parametric approach to aggregate "stand-alone" or marginal distributions with desired correlations without imposing additional assumptions on those marginals. We then develop two optimizations for the enterprise, one based on maximizing return on economic capital and the other based on a mean -semivariance efficient frontier from the investor point of view.

Description: metadata for the entire issue

Description: The latest installment in a series of articles inspired by the book "Awake at Work" by Michael Carroll that applies Buddhist philosophy to workplace situations. This series applies such philosophy to situations that actuaries regularly encounter. This installment uses the author's trials and tribulations in learning how to stand on his head to illustrate key Buddhist principles in fear and risk that actuaries can apply in their professional growth.

Description: Complete issue of the August 2014 Risk Management newsletter.