Description: Explores the applications and techniques of model governance, focusing on benefits such as model literacy, efficiency, and confidence.

Description: A summary of Modeling Section-sponsored sessions at the 2016 Life/Annuity Symposium, covering model risk management, model governance, and model efficiency.

Description: November 2018 issue of The Modeling Platform by the Modeling Section. Practical information for actuaries, trends that impact section, section activities.

Description: A listing of the 2016 modeling-related sessions and webcasts from the SOA. Most meeting session recordings are available for free to SOA members.

Description: Model Risk Management has come under increased focus in recent years. This article gives an introduction to model risk and sound MRM processes and controls.

Description: This article will further discuss decentralized and centralized model development frameworks and provide tips and rationale for transitioning toward centralized model development.

Description: Read the December 2016 issue of The Modeling Platform published by the Modeling Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: Read the April 2017 issue of The Modeling Platform published by the Modeling Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: Actuarial systems access and change controls are hot topics these days as modeling continues to increase in complexity and as new modeling regulations may begin to crest over the horizon. Many companies are currently in the process of either formalizing their actuarial system access and change control protocols, or are reevaluating and strengthening their existing control processes in response to identified deficiencies or in conjunction with new actuarial system implementations. With these undertakings in mind, this article discusses a number of valuable components commonly incorporated in formal systems access and change control protocols. Also discussed are leading practices identified in the SOA publication “Actuarial Modeling Controls: A Survey of Actuarial Modeling Controls in the Context of a Model-Based Valuation Framework (December 2012)”, and from the Institute and Faculty of Actuaries.

Description: In this article, the interviewers will discuss the pros and cons of centralized modeling function vs a business unit based modeling function. Their experience will help us in identifying factors in contributing to a successful centralized model function and understand how to set expectation with modeling stakeholders.