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: Regular update provided by the Chair of the Joint Risk Management Section on initiatives put forth by the section council for the current year.

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.

Description: Update on research activities.

Description: Chairperson's Corner is the introduction to the JRMS newletter

Description: Hear from the editor on the December 2017 issue of Risk Management published by the JRMS.

Description: Recent section activities

Description: The thrust of this article is that while ERM starts out as a compliance and corporate governance tool, well managed companies use ERM as a strategic tool that will help them increase shareholder value. To do so requires a synthesis of the actuarial techniques of insurance and the capital markets perspectives of corporate finance.

Description: This article talks about partnering with other risk professionals and the importance of research into the nature of risk and the responses to risk events.

Description: This article discusses the system in systemic risk and suggests management approaches for dealing with systemic events.