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: The traditional informal care of/by family has faced increasing geographic and economic challenges from changing family households and sources of family income. Financial planning and risk protection tools provide important resource in the changing retirement landscape toward optimal family support and crisis management, that is, with less duress and financial burden to affected family caregivers. Ultimately, maintaining family values and close communications through evolving family structures are key to a healthy society and economic welfare of the people.

Description: This study is intended to educate insurance professionals on historical insurer impairments and insolvencies and possible future prevention indicators.

Description: Chairperson's column for the September issue of The Financial Reporter

Description: This is a summary of a presentation made at the 1975 SOA annual meeting regarding statutory reserves, contingency reserves and life insurance company surplus.

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

Description: This article announces the release of a handbook written by the DFCA Task Force for assisting actuaries who are doing Dynamic Financial Condition Analysis.

Description: This is the second article in a two-part series examining the potential value to companies of implementing a company profitability and risk dashboard.

Description: This paper examines the fundamental principles underlying the theory of rate change. The proposed approach shows improved accuracy as compared to current methods, with particular significance for a non-static book of business.

Description: The bank’s customers viz. non-bank company often get into various kinds of derivative transactions with a bank or some other non-bank company in order to cover or hedge against the unwanted exposure to volatility in interest rates, currency rates or some other underlying rate. A non-bank company defaults when the situation goes unfavorable enough for it to have no other alternative this cascades the impact to many other non-bank companies and banks. I take forward the opinion that non-bank company defaults are more likely than those by a bank in a derivative contract. This risk in the risk management approach using derivatives can be reduced through the derivatives framework proposed in this paper. Presented at 2010 Enterprise Risk Management Symposium, Society of Actuaries, April 12-15, 2010.