Description: The Chairperson of the Taxation Section shares the section council's plans and goals for 2017

Description: The approach of the year 2000 creates a millennial fascination which causes man to ponder his past, to assess his present, and to peer into his future. This study of the actuarial profession looks upon those design-steering aspects which can lead to a greater future. Although this work adopts the standpoint of a life company actuary, it views the entirety of the profession. All actuaries are bound up in essentially the same future. This study may have special interest to a young person contemplating the actuarial profession as a career. Consequently, an effort is made to consider the subject over the projected career of such a person- roughly to the year 2020. From Transactions of Society of Actuaries 1974, Vol. 26, Pt.1, No. 76.

Description: The article discusses the sustainability of the ACA individual market from a public entitlement standpoint. A key point of measuring sustainability is the reliance on market forces rather than federal budget constraints. The article explains why an actuarial viewpoint of sustainability is necessary to a greater extent than other public assistance and social insurance programs. The article challenges actuaries to be a bold, objective voice in a space that is full of opinionated but often uninformed viewpoints.

Description: The costly, time-consuming and complicated process of enterprise risk management (ERM) can be improved in many companies and made less tedious for managers by using reasonable data and templates obtained from peer group entities. The models used to calculate economic capital (EC) often underestimate its value because they do not consider decision-maker perception about risk. We assume here that managers, as the decision-makers, have appropriate business understanding and they can provide substantial information about risk characteristics regarding all business processes. Therefore we are focused, in this paper, on collecting data from managers across the different businesses to derive the appropriate knowledge about risky events, the importance of particular types of risk, the relationship between the risk outcomes and the level of risk control in a particular industry. We conclude that the collected data has a high potential for use as a benc hmarking reference and analysis for improving ERM models for individual businesses.

Description: The author describes his recent experience taking in only water and vegetable juice for 2 days and translating his lessons to actuarial practice.

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

Description: Read the October 2017 issue of Taxing Times published by the Taxation Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: A panel of chief risk officers CROs discuss their roles, responsibilities and challenges in implementing and managing risk within an insurance enterprise. Topics related to the measurement and management of risk to be covered are: organization of the risk management function key CRO responsibilities measurement infrastructure process of measuring and managing risk risk culture and assimilation of risk into the organization management buy in and support operational risk credit risk risk aggregation the role of risk economic capital and Committee of Sponsoring Organizations COSO enterprise risk management framework. From the Record of the Society of Actuaries, Volume 30, No. 2, Spring Meeting, San Antonio, TX, June 14-15, 2004, Session 20PD.