Description: Much of enterprise risk management has its roots in portfolio management and corporate finance. The concepts of trading off risk and return and benefits of diversification are well understood and articulated in both the actuarial and economics fields, so I don’t believe there are significant knowledge gaps preventing actuaries from contributing to the field. In fact, actuaries may have an advantage in many situations where a large part of a firm’s overall risk arises from pension activities or other more typical actuarial risks.

Description: This article provides some insights into how actuaries can quantify DC plan risks.

Description: In this article, the author examines five common perspectives on risk and see how they affect not just each participant’s own choices but everyone else’s choices, as well.

Description: The Joint Risk Management Section conducted its fourth survey of emerging risks in fall 2010 in light of the BP oil spill which brought the impact of various risk combinations to the fore.

Description: This is a book review of 'Mastering Operational Risk'. The book offers a high level review of the risk management process based on the banking industry. The target audience is someone interested in understanding their company's operational risk framework.

Description: This article is a recap of the 2010 ERM symposium and the paper awards.

Description: This is the full research report for the thirteenth Emerging Risk Survey which summarizes the results of the survey.

Description: Since 2008 the Joint Risk Management Section, sponsored in partnership by the Canadian Institute of Actuaries (CIA), Society of Actuaries (SOA) and Casualty Actuarial Society (CAS), has annually conducted a Survey of Emerging Risks. As the researcher for this project, I have asked open-ended questions thought to be useful to risk managers. Andy Grove noted the importance of viewing problems from an outsider’s perspective. After a strategy he implemented had struggled, he hypothesized how the strategy would change if he was fired. This paper summarizes activities that are perceived as adding value by risk managers. Each company is unique based on the skill set of the risk team and needs of the firm, many of which are strategic and can be fulfilled through well thought out scenario testing. These can be split into eight themes.

Description: The Chinese insurance market is grappling with product innovation, business growth and regulatory oversight as it tries to keep pace with a sharp growth in demand across product segments. In this context, the authors have highlighted insurance trends in China, based on available research and literature, with a particular focus on topics that will drive the enterprise risk management (ERM) function of insurance companies. ERM provides an opportunity for insurers to identify and mitigate potential insurance risks by enhancing their policies and risk management activities. This report explores the insurance trends in detail, drawing on findings from interviews of practitioners in the Chinese market, to provide context for the drivers of ERM transformation.

Description: The presenters describe the process payers and employers can use to evaluate emerging medical device technologies, recent or pending FDA submissions for prescription drugs and experimental treatments that impact patient care, resource utilization and health care expenditures. Learn the process of identifying and selecting impactful treatments (Horizon Scanning) and quantifying the financial cost of new technologies before they arrive in the market. These workflows can be leveraged by actuaries, healthcare economists, clinicians and pharmacists from a payer (Commercial and Medicare) and employer perspective for self-funded plans. Walk through sample models that illustrate how costs for emerging technologies and treatments can be modeled.