Description: List organizations types that does not have incentive that is aligned with public interest or interest of the organization itself.

Description: This paper defines business risk as uncertainty that threatens the viability of the insurance organization including product features such as mortality or persistency, internal organization features such as expenses or staff retentionand external influences such as regulatory or legal actions. This paper provides an approach for measuring the financial impact of adverse variation of these factors on the organization.

Description: This paper employs the theory of real option pricing to address problems in the area of operational risk management. Particularly, it develops a two-stage model to help firms determine the optimal triggers in the event of an influenza pandemic. The first stage proposes a regime-dependent epidemic model to simulate the spread of the virus, depending on whether the firm is active or inactive. The second stage views the reactivation decision as a call option and the suspension decision as a put option, and uses dynamic programming method to determine the optimal switching thresholds.

Description: A discussion of the hidden costs of administering complex Products including operational inefficiency, product development constraints, increased time to market, inability to monitor experience, and lost cross selling opportunities among other things

Description: Mortality risk is the risk that a portfolio will suffer from mortality being heavier than expected. Longevity risk is the risk that a portfolio will suffer from mortality being lighter than expected. From Reinsurance Section News, November 2007, Issue No. 61.

Description: Overview of the model vetting practices of the last 20 years and challenges for the future.

Description: The article provides an update on the 2019 ERM Symposium with regard to date, location and content (General Sessions and Concurrent Sessions).

Description: The author discusses and provides an example of how some companies’ enterprise risk management (ERM) programs are designed and implemented in ways that can unwittingly weaken the organization.

Description: Effective documentation is a critical component of model risk management. Several types of effective documentation are discussed.

Description: Defines and discusses operational risk as it exists in every industry, especially as it exists in the financial services industry.