Description: The September 2014 Issue of the Financial Reporting Section's newsletter, The Financial Reporter

Description: Chairperson’s column discussing a few of the important initiatives of the Financial Reporting Section

Description: In this essay, we focus on the “Prospective Solvency Assessment” aspect of the NAIC’s ORSA. This places a spotlight on an insurer’s strategic decision making from a risk and capital management perspective. It requires those in senior management to describe actions they would take to address possible adverse changes in their risk and solvency position, i.e., what they would do to reduce risk, increase capital, and/or adjust the business strategy. We contend that by applying a slightly broader scope than the specific requirements of the NAIC’s ORSA, insurers can develop this into a valuable process to support risk-based decision making. In this essay, we initially consider how to determine which metrics to include in such a process and then discuss some important business requirements and practical challenges for implementing a calculation approach to support it. Part of the essay collection "Risk Metrics for Decision Making and ORSA"

Description: Interview with Mike Smith, chief risk officer of ING U.S. Insurance Solutions unit.

Description: Metadata for entire issue

Description: Effective communication

Description: Panel discussion of alternative approaches to the design of reserve standards, to include those topics discussed in several recent papers and committee reports.

Description: July 2018 issue of The Stepping Stone by Leadership & Development Section. practical information for actuaries, trends that impact section, section activities

Description: May 2018 issue of The Stepping Stone by Leadership & Development Section. practical information for actuaries, trends that impact section, section activities.

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.