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.

Description: Actuaries can apply their technical expertise and enterprise risk management ERM skills to become leaders in ERM practices across industries, especially if they maintain a clear focus on developing their leadership roles.

Description: Read the July 2020 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: 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 November 2019 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: A collection of essays written on the current financial crisis, lessons learned and future implications.

Description: With the possible exception of full faith and credit debts of the United States, every loan carries some risk with it regardless of the borrower, and this risk varies depending on the creditworthiness of the person or institution that is supposed to repay the debt. Bearing that risk requires some sort of capital, both as a legal requirement and as evidence of good sense in lending, but recently we seem to have forgotten the basic relationship between a loan and the capital associated with it. The lesson of the current debacle is, or certainly ought to be, that the risk inherent in a financial transaction cannot be made to go away by the mere act of repackaging that transaction and renaming it.

Description: This article will evaluate two different novel techniques for approximating change in value of a portfolio due to the change in the interest rates that do not rely on the industrywide ALM metrics. These approaches use deterministic runs created to understand the range where ALM metrics could be relied on and one of these techniques could be more superior to the use of key rates for managing one’s portfolio when they are used in approximating value change for a change in interest rate.

Description: An update on the activities of the JRMS Council.

Description: Read the Joint Risk Management Section, Issue 44, May 2019.