Description: A description of the operation of an R package for experience studies. Premium patterns, lapse rates, and mortality rates can be calculated.

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

Description: What is a "super" model? How do we develop, maintain, and visualize them? What is the difference between models and assumptions? Most importantly, how can we use all of this to quantifiably improve risk management?

Description: This article describes how to externalize code of Moody's Axis platform to Visual Studio, so that all the actuarial calculation code run through corporate DevOps pipeline. This article gives specific examples of the author has used in his job to accomplish automated model governance.

Description: On July 17, FASB announced a deferral of the compliance deadline for the new Long Duration Targeted Improvements (LDTI) guidance: “a one year deferral for larger SEC filers and a two or three year deferral for all other entities.” This article highlights the opportunity for companies striving to comply to modernize in light of this deferral, and it provides a few specific suggestions to companies who pursue this path.

Description: This article discusses important implications of the upcoming Long-Duration Targeted Improvements (LDTI) accounting change for the modeling actuary. We discuss the modeling implications of new GAAP standards for Market Risk Benefit (MRB), including identification of MRBs, implementation of fair valuation in actuarial systems and retroactive determination of at-issue valuation inputs for transition. We also examine the modeling implications of the other aspects of the accounting change, including Liability for Future Policy Benefit (LFPB), Deferred Acquisition Cost (DAC), and other transition and disclosure requirements

Description: An outline of a formal framework for describing models, inspired by the operational context of governance, management, and use of models.

Description: A data format for mortality tables along with applications.

Description: This article is the second installment in a three-part series on economic scenario generators (“ESGs”). Part I was published in the November 2019 issue. Part II addresses critical considerations in selecting, building, using, and validating ESGs. The article discusses key criteria in understanding ESGs including: - Risk factors - Scenario type - Process and parameterization - Calibration - Number of scenarios - Timing considerations

Description: Read the April 2020 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.