Description: Forming a view on what the tail looks like for various risk factors involves both technical know-how and considerable judgment. The presenters focus on what needs to be addressed when setting financial market risk and insurance risk assumptions, in particular when assessing the question of diversification and the treatment of tail dependencies between risks and lines of business:

Description: An article summarizing the SOA Asia-Pacific Annual Symposium held June 12 - 13, 2024.

Description: Article describes accomplishments as Chair during the year. Four accomplishments are mentioned: i) Actuarial Research Conference ii) Early Career Award, iii) Establishment of Outstanding Educator Award, iv) Push to create surveys from the section containing a reservoir of ideas that can be used for webinars, podcasts, etc.

Description: Emails are to the business world what cars are to a road trip: we can't get anywhere without them. This article offers 6 specific strategies to write emails more effectively. The theme is that re-reading your emails to check for a clear goal, conciseness, appropriate tone, etc. is a worthwhile time investment as it saves your reader time and prevents problems caused by miscommunication.

Description: Actuarial functions are being asked to do more with less: being challenged to provide more value to the business through applying insight and foresight. This article examines ways in which actuaries can provide business insights with very limited investment. The article provides actionable steps that actuaries easily apply to their daily work.

Description: Traditionally the SOA formulates pedagogic excellence in terms of the Marzano Taxonomy. For example, the "analysis level" consisting of generalization, specification, classification, contrast, matching, and error identification, is considered superior to the "retrieval level" consisting of rote memorization such as recognition, recall, and using. In this presentation, we first show that pedagogic excellence can be equivalently, but more simply, formulated in terms of executive function and goal-setting. Here executive function refers to problems requiring multiple mental modalities - such as, formal, verbal, computational, and graphical - for their solution. Goal-setting refers to the skillful breakup of a complex problem into a sequence of subgoals each of which is clearly formulated, challenging, but achievable timely. Light examples from the literature illustrate these concepts. Five "challenging FM problems": reinvestment, refinancing, multiple rate/deposit problems, pricing deferred bonds using a term structure, and obscure loan problems, illustrate the following fundamental techniques of goal-setting and executive function: i) a fellowship approach to teaching preliminary exam material, ii) using subgoals to give difficult homework, iii) alternating between different mental modalities to achieve elegant brevity in solutions, iv) goal-setting reflecting familiar vs. new, and v) skillful definition of unit subgoals.

Description: This article highlights the importance of communicating concisely and effectively through email and other written forums, and when/when not to use written vs. other forms of communication.

Description: One of the most fundamental concepts in actuarial practice is the time value of money. For any work in which future cash flows are allowed for, such as reserving or pricing, it is natural to discount to present values so that an appropriate amount of money can be set aside today, allowing for future investment returns. This article discusses yield curve extrapolation methods along with the benefits and drawbacks of these methods.

Description: A compilation of reader responses is presented to a real life situation posed involving a management, leadership, or other business decision. This issue’s case study involved a new employee being hired specifically for an expertise that then does not seem to be valued once they arrive.

Description: The article presents specific operational guidelines when managers and staff are having difficult conversations. The article reviews half a dozen "popular" guidelines but shows that they are not specific. The article then in two layers presents specific operational guidelines. First the article based on a commonality of principles of email etiquette and Jewish Speech Laws reviews five guidelines for ordinary conversations: focus on events vs. people, focus on fixes vs. blames, being holistic (acknowledge any good done), be operational (indicate outcome and how to accomplish it), and use of tentative tone. The article concludes by adding three specific guidelines for difficult conversations: shared-self-evaluation, skillful use of breaks when emotions flair, and use of open-ended lead-on questions coupled with continuous empathy and offers of collaborative support.