Description: Performance measurement is not the primary purpose of either GAAP or statutory accounting. This article discusses alternative methods of reporting used by life insurance companies to better measure financial performance.

Description: The intent of this paper is the analysis of the influence of risk that took place during winter and summer 2006 on economic results of utilities selling power to final customers. Efficient risk management requires the restructuring of the approach to company management. From 2007 Enterprise Risk Management Symposium, M-AS07-1.

Description: Enterprise risk management ERM is for the measurement and the management of all significant risks of the business holistically irrespective of types and sources. The study offers significant advances in the current debate on the performance of enterprise risk management, in particular, minimizing the existing gap between the academic understanding and practitioners’ experience on the topic.

Description: This paper investigates the interaction between a credit portfolio and another risk type, which can be thought of as market risk. We analytically calculate their inter-risk correlation and show how inter-risk correlation bounds can be derived.

Description: This paper argues that no single valuation basis is completely reliable: neither market price nor other alternatives can accurately measure value. Therefore, this paper proposes that a preferable solution is to simultaneously record two bases of valuation: market price and appraisal value. Thus by expanding the dimensionality of financial reporting, one can provide a broader, richer and more accurate measurement of value. Presented at 2010 Enterprise Risk Management Symposium, Society of Actuaries, April 12-15, 2010

Description: The article summarizes implications of rising interest rates on U.S. GAAP and statutory financial reporting for life insurers, highlighting potential tailwinds from steady increases and headwinds from sharp increases. We further provide insights into how insurers can leverage ALM programs and interest rate risk hedging practices to favorably position themselves in a rising rate environment

Description: The mismatch between how interest rate impacts the value of assets and liabilities could have material negative impact to companies’ earnings and surplus. To quantify and mitigate the impact of such mismatches, companies have used matching a combination of duration and convexity. I will review these measurement techniques and their limitations.

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: Presented at May 1996 Spring Meeting. This teaching session covers course F-585 in the exam materials, which is intended to provide background for the actuary who aspires to become the chief financial officer of a financial institution. It addresses raising capital and financial management.

Description: Presented at May 2002 Spring Meeting. This session discusses financial management in the year 2001, which displayed an economic environment unlike that of any year since the 1960s.