Description: A compilation of reader responses is presented to areal life situation posed involving a management, leadership, or other business decision. This issue’s case study concerns an issue that arose while interviewing an actuarial candidate.

Description: Feature article discussing key accounting concepts in finance.

Description: What would happen when the use of computerized two-digit date fields used through all of the latter half of the 1900s encountered the date 01/01/2000? No one knew. As Jan. 1, 2000, drew closer, self-preservation forces, competition, liability shifts, and disclaimers heated up essentially across all commercial sectors. The contemporaneous documents of those pressures tell a story about those who did not know the outcome of the Y2K issue, primarily as related to liability, risk and insurance. In this exciting article, Nancy P. James, Licensed Insurance Adviser and Y2K expert, shares the untold story of risk and insurance at the dawn of the Millenium.

Description: Adjusting GAAP reinsurance reserves to account for reinsurance protection against the events that trigger direct reserve constraints (such as NPR capping or LFPB flooring) can be a challenge any time. Ceding a block of business that is already in force increases the challenge—especially if one of those constraints was already present at inception of the reinsurance. This article builds on previous work (published in the July 2022 and June 2023 issues) to show how to measure initial reinsurance reserves in a way that complies with AICPA guidance and prepares for effective measurement of subsequent changes in the effects of the constraints.

Description: An update to the risk management readers on what the JRMS is planning to do over 2023 to serve its membership.

Description: Executives often tell subject matter experts such as actuaries, “You should think more strategically!” But, the executives never define what they mean by “thinking more strategically”. This article defines the skills actuaries need to be perceived as being more strategic. It will provide practical steps actuaries can take to gain more strategic influence and escape the trap of being perceived as only a subject matter expert who provides limited strategic value.

Description: This article addresses the importance of remembering to respect ourselves and others during times of uncertainty and stress, and offers practical tips on how to do so

Description: This is a conversation with two critical staff members of the Society of Actuaries (SOA) about their experience there. Jane Lesch is a non-actuary who has been working at the SOA for over 20 years, and is an engagement specialist. Mike Boot is an actuary who retired at the end of February after 15 years at the SOA, most recently as managing director. We spoke to both Jane and Mike to get their take on what leadership is about, and how working at the SOA impacted them.

Description: This book explores diplomatic strategy in an historical context. Many of the lessons in the book are useful to business decision-makers.