Description: This paper examines the potential impact of increasing negative commentary by social media users in multiple forums, which can erode the “reputation capital” of a utility. It also offers an approach for successfully addressing that risk and integrating social media risk management practices into existing utility enterprise risk management (ERM) programs.

Description: This research project examines operational risk management practices and assess the viability of ORM as a formal discipline. A key goal of this initiative has been to determine whether the management of operational risk is feasible, and, if so, what issues need to be addressed in order to effectively implement ORM within a broader ERM context.

Description: This paper demonstrates the potential synergies from applying actuarial techniques to operational risk analysis. It also demonstrates practical techniques, grounded in actuarial science, to solve operational risk management problems such as risk cost allocation and risk mitigation cost-benefit analysis. From 2006 Enterprise Risk Management Symposium, M-AS06-1.

Description: Today's actuarial teams dedicate substantial time and resources to maintain strong frameworks for risk management and control. Current practices typically endure this as a sunken cost, yielding minimal value beyond SOX/MAR/COSO compliance and basic error prevention. With a small up-front time investment, and a willingness to approach these activities with an open mind, the functionality of existing compliance activities can be completely transformed. Compliance activities, once a sunken time cost, can be elevated to deliver more insightful analysis to stakeholders.