Description: In this article, the section chairperson talks about the importance of actively promoting actuarial skills and value to lead the evolution of risk management.

Description: In this article, the author discusses the International interest in working toward a global ERM credential similar to the CERA designation from the SOA.

Description: In this article, the Editor talks about the changes to the newsletter and discusses prizes available for articles.

Description: This article departs from the usual GMWB pricing approach by assuming that the policyholder is always smart enough to act in his/her own best interest.

Description: In this article, the author examines Nassim Taleb’s work and writings and discusses its relevance to the future of the actuarial profession.

Description: This article provides some insights in how to bring risk management into product development for VA guarantees.

Description: Feature article discussing the four main perspectives of ERM.

Description: How insurers can include a liquidity score and liquidity stress scenarios as part of their asset liability management (ALM) protocol.

Description: The mismatch between how interest rate impacts the value of assets and liabilities could have material negative impact to companies’ earnings and surplus. To quantify and mitigate the impact of such mismatches, companies have used matching a combination of duration and convexity. I will review these measurement techniques and their limitations.

Description: This article will highlight the issue that the sum of key-rate metrics does not add to metrics derived by parallel shift to the entire curve, even at very low shift size. Additionally, in the article I will outline how to define a single rate change to be applied to a key rate (or the entire curve) since the rate changes are generally not level or parallel.