Description: This article addresses the difficulties of risk modeling in a poor economic environment. The problems include imperfect vendors of data, facing events that have never occurred before, unpredictable consumer behavior, conflicting data sources, and AAA credit doesn't always mean AAA.

Description: Commentary on practical observations resulting from constructing and running Economic Capital models. Possible standardization of assumptions and result interpretation are morphing even though use of E.C. models has now been around for years.

Description: Bond Prices, Yields, and Convexity by Macroeconomic Advisers from Risks and Rewards Newsletter, April 2000, Issue No. 34.

Description: When Is It Right To Use Arbitrage-Free Scenarios? by Stephen Britt from Risks and Rewards Newsletter, September 2000, Issue No. 35.

Description: Time Track: Analyzing Historical Asset Returns by Richard Q. Wendt from Risks and Rewards Newsletter, September 2000, Issue No. 35.

Description: The investment risk taken by a pension fund comprises strategic risk and active risk. This paper discusses the relative merits of these two types of risk to the pension fund, possible rationales for the levels of strategic and active risk typically adopted mechanisms for capturing manager skill without taking on equity risk, and issues in setting liability-based benchmarks for investment managers

Description: This article aimed to make Liability Driven Investing LDI more accessible by providing a simple definition and by showing how plans of different sizes and circumstances may adopt an appropriate LDI approach.

Description: This article lays out a generic framework on how to hedge a European call option on a non-dividend paying stock using futures in a stochastic interest rate environment.

Description: The article describes the 2017 Redington Prize-winning paper "Lapse-and-Reentry in Variable Annuities", by Thorsten Moenig and Nan Zhu, FSA.