Description: Risk Magnification does exist and needs to be considered in the risk aggregation and risk management processes.

Description: Highlight of the ERM Symposium

Description: The article explores the possibility of using the emerging technology for life insurers to build a monitor system for better risk and profitability management.

Description: Fiduciaries play a vital role in the financial health of a pension plan. How they carry out their duties is a question of increasing interest to beneficiaries, regulators, shareholders and taxpayers. Having a clear, logical and well-documented risk management process in place can make a big difference.

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: Statistics were invented to describe heterogeneity and are now applied to tackle alea. It may not be appropriate. Let's clarify their field of relevance.

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

Description: Financial institutions have and continue to suffer substantial financial losses because of their exposures to various operational risks and insufficient risk management. Quantifying operational risk is a critical component of an institution’s ability to manage risk. The model described in the article provides a numerical measure for operational risks existing in a business entity through statistical methods. It takes experience data to reflect both the general features and company specifics of the defined operational risks, while also allowing for managerial discretion. An important achievement is to suggest a level of capital to hold against potential losses arising from operational risks.

Description: The author discusses how sustainable enterprise risk management (SERM) is valuable for insurance companies and how actuaries can contribute to its development.

Description: Hear from the editor’s on the March 2017 issue of Risk Management published by the JRMS.