Description: Many top-performing businesses aren’t just risk aware, but rather risk intelligent. Such a posture helps prepare companies for a major event and can demonstrate to a regulator or auditor that an appropriately strong control framework is in place. Better still, companies gain real strategic value from a “risk adjusted” understanding not only of their threats and vulnerabilities, but also the upside opportunities associated with various risks. It starts with having both qualitative and quantitative information to identify, assess and manage risks. Strategic risk management, at its core, is about creating value by increasing transparency and accountability, and quality of information. More than a mere compliance exercise, effective risk management enables more informed strategic decision making, increased accountability and transparency, a greater likelihood of organizational success, and – ultimately – competitive advantage, as borne out by many studies that correlate risk management and financial results.

Description: This column lists articles and other forms of media The Actuary’s contributing editors feel will be of interest to their fellow actuaries.

Description: Review of The Checklist Manifesto: How to Get Things Right by Atul Gawande, and author insight into the importance of actuarial checklists.

Description: At the November meeting of the IASB’s SAC, I raised strong support for the concept of a priority project to accelerate the development of a new conceptual framework for the IASB with emphasis on the role of reliability, the definition of liability, the meaning of probable, the effects of contingencies i.e. contingent probabilities, the unit of account and accounting for contractual rights and obligations. Editor’s note: This is an excerpt from a longer address to the International Accounting Standards Board on guiding principles.

Description: Article comparing stable value and money market funds in terms of income production and risk level for defined contribution DC pension plan participants.

Description: August 2017 Crossword Puzzle.

Description: One of the many reasons several organizations fail to reach their potential is the presence of internal politics. In general, the question is not whether politics are present within organizations rather the right question is how much politics exist? From The Stepping Stone, April 2005, Issue No. 18.

Description: This article stresses the importance of effective networking in shaping your future career opportunities.

Description: The author presents a simple tool that can help managers be effective at developing people called the competency checklist.