Description: Abstract: This paper presents the output of in-house research on an emerging area of risk appetite management and our global implementation best practices. It intends to provide readers with detail implementation of risk appetite framework and assessment across an organization. It provides the conceptual risk appetite framework based model- developed by the author, implementation plan, and global best practices of a risk appetite assessment across an organization. It identifies the challenges and exceptions in the risk appetite assessment with an approach to manage it effectively, and helps organizations with cost-benefit analysis. It also includes an illustrative case study.

Description: Financial regulators, rating agencies and many commentators have blamed weak Risk Culture for many of the large losses and financial company failures of the past decade. But their exposition regarding a strong Risk Culture only goes as far as describing a few of the risk management practices of an organization and falls far short of describing the beliefs and motivations that are at the heart of any culture. This discussion will present thinking about how the fundamental beliefs of Neo Classical Economics clash with the recommended risk practices and how the beliefs that underpin Enterprise Risk Management are fundamentally consistent with the recommended risk management practices but differ significantly from Neo Classical Economics beliefs.

Description: Most actuarial explorations of increased longevity have, quite understandably, focused on its direct financial implications for things like health care costs, retirement systems, and social security or other public policy provisions. But future life extension has many other potential implications, both direct and indirect, for various socioeconomic factors, which in turn have the potential to affect the actuarial valuation of future risk contingencies. This paper examines a sampling of the socioeconomic issues emerging from the possibility of substantially increased longevity. Because of the complexity and interrelatedness of these issues, actuarial and risk modeling of this prospective environment could be a significant challenge.

Description: Session 5b discussant comments

Description: Session 5b discussion comments

Description: Abstract for Is Secondary Prevention of Alzheimer’s Disease Possible? A Discussion of Studies in the Alzheimer’s Disease Field

Description: As people advance into their 80s, mental health becomes ever more important. Two nonsmoking octogenarians of identical age and gender, with the same body mass index, type of diet and physical exercise routine, may have markedly different prospects of living to 100. Cognitive and social functioning, and positive well-being, are key to living longer. Many activities that influence longevity are very cognitively demanding. For example, chronic illnesses require self-regulation to limit damage; better knowledge and reasoning help manage disease. This paper evaluates the cognitive, psychological and social drivers of longevity by reviewing recent longitudinal studies, and analyzing the latest research on brain plasticity, positive psychology and elderly cohort survival, as well as new geriatric psychological theories on successful aging. A quantitative assessment is then made of the actuarial implications of these drivers for modeling the mortality of elderly annuitants, with new insights into what factors keep people progressing purposefully into advanced age, beyond avoiding disease.

Description: This is the Fully Funded Pensions for Centenarians abstract authored by Jonathan Barry Forman for Session 5B of the January 13-15, 2020 Living to 100 Symposium in Orlando, Florida.