Description: In this issue, we’re pleased to share with our members some recent nice activities and initiatives of AFIR- ERM on the risk management space. Please fi nd useful information in the article below from Michael Sherris, Chairman of AFIR- ERM Section.

Description: Many ERM programs fail to include an active step of actual risk treatment and are therefore rightfully characterized as Entertainment Systems. Real ERM will use risk assessment to drive decisions about risk acceptance and risk mitigation. Entertainment systems use risk assessment to create reports and to hold discussions. No actions are taken often because ERM is not empowered to do anything.

Description: Read the March 2017 issue of Risk Management published by the Joint Risk Management Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

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

Description: Optimization of the liabilities to minimize the required capital, enhance the enterprise risk management and maximizing the shareholder value.

Description: This article argues that using Economic Capital as a metric does not capture all of the risks. The author suggests an alternative that better meets a corporation's overall risk management needs. This is value-based ERM, which is an approach that makes the quantification of enterprise value central to all aspects of the ERM process. It is a combination of two techniques—enterprise risk management and value-based management, and it captures all of the risks in a single metric.

Description: The CRO Forum addresses this topic from an insurance industry perspective and will focus on the implications of the crisis on Enterprise Risk Management and regulation in the industry as a whole.

Description: Looking at emerging risk through the framework of complex systems enables risks to be understood better, seen earlier, and managed more effectively.

Description: In this article, the author compares risk identification to the computer game, FreeCell.

Description: This article focuses on how a risk appetite framework can help a company manage the “three-headed monster” and why a risk appetite framework is critical to effective business and risk management at both the corporate and product levels.