Description: From a session at the Spring regional meeting of the Society of Actuaries held in Atlanta, Georgia, May 24-25, 1999 Equity-indexed products require an asset strategy that matches the equity options embedded in the liability. The panel discusses the following: A. Two asset strategies 1. Purchasing equity options that match the liability options: Is this a perfect match or are there still unhedged risks? 2. Dynamic hedging using the mathematics of “the Greeks”: Is it self-insuring? B. Accounting issues with these strategies

Description: This Chairperson's Corner article discusses the SOA becoming the pre-eminent risk management profession. The Chairman's message is that actuaries have the inside track on risk management positions in the insurance industry and have a basis for competing for similar positions in the broader financial services industry.

Description: This presentation is a panel discussion, session number 42PD, from the 2002 Valuation Actuary Symposium, held September 19-20 in Lake Buena Vista, FL. The panelist starts by noting that the session is now ‘Risk Management in a GAAP Context,’ rather than ‘Asset/Liability Management in a GAAP Context,’ meaning management actions designed to address GAAP earnings volatility and GAAP income. To do this, you need to identify the sources of GAAP income volatility and near-term, not long-term, erosion of GAAP income. The speaker believes that stronger and stable GAAP earnings gives management the ability to implement their business strategies: ‘risk management in a GAAP context is all about creating competence in management,’ and if management can implement its business strategies, then it can create long-term value.

Description: There appears to be many similarities between enterprise risk management techniques and the theory underlying the unified valuation system UVS. What are the challenges of each, and can the methods learn from each other? From the Record of the Society of Actuaries, Volume 27, No. 2: Toronto Spring Meeting.June 20–22, 2001, Session 58PD.

Description: Panelists at this session of the SOA 1998 Maui I Spring Meeting presents their approach to an integrated risk management framework that assesses the level of risk in the organization and where it lies on the balance sheet.

Description: Chart File for Presentation 94PD Management Uses for Cash-Flow Testing. From the Record of the Society of Actuaries, Vol. 24, No. 3.

Description: Actuaries are trained to measure and manage risks, for example, mortality, morbidity, interest rate, and asset default risks. However, the range of risks to which companies are exposed is wider than is sometimes considered. This complex array of risks needs to be managed holistically in concert and not in isolation. The actuary is increasingly called upon to assist in this process and needs a broader perspective and more powerful toolkit. From the Record of the Society of Actuaries, Volume 26, No. 3: Chicago Annual Meeting, October 15-18, 2000, Session 54PD.

Description: Risk governance is an important part of any risk management process, yet the insurance industry has not implemented the procedures and controls as extensively as banking. This session looks at the elements of risk governance and discusses their importance to the risk management process. Specific emphasis is placed on risk management organizational structures and how different organizational structures may facilitate effective risk management processes. Insurance and banking practices are contrasted. From the Record of the Society of Actuaries 2005, Volume 31, No. 1: 2005 New Orleans Life Spring Meeting, May 22-24, 2005, Session 83 OF.

Description: From a session at the Spring regional meeting of the Society of Actuaries held in Atlanta, Georgia, May 24-25, 1999 Panelists discussed a comprehensive risk management approach to quantify the risk exposure from various sources.

Description: A New Perspective on Risk Management: Creating Value by Managing Risk by Francis P. Sabatini and Joseph Weiss from The Financial Reporter, December 2001, Issue No. 48.