Description: Risk management and capital budgeting are two critical components of the corporate decision process. They often need to be considered jointly at the corporate level because of their natural interaction through the dependent risk exposures and other synergetic relationships within an intricate corporate structure in a dynamic business environment. . This paper develops an integrated framework that aligns these two important corporate strategies across business divisions to optimize the streamlined enterprise strategic goal in a multi-period setting. The proposed integrated framework can serve as a practical guideline for corporate executives to optimally coordinate capital budgeting and risk management at the enterprise level.

Description: Explores SOA and other research on shocks and unexpected expenses. Discusses impact of shocks and strategies for responses. Includes many focus group quotes.

Description: An essay suggesting a health care financing system.

Description: In this article, the authors discuss “tail events,” market dislocations deemed a priori, to be statistically improbable.

Description: Highlights from international events of interest to actuaries.

Description: SOA participation in international meetings in India and Russia.

Description: This session will serve as a guide on how to implement a factor-based optimization in the Strategic Asset Allocation process. The session will review a factor-based investing approach and cover the top-down macroeconomic drivers of risk and return for various asset classes. We will then illustrate implementation of this investing approach and determination of an optimal Strategic Asset Allocation through a pension fund case study. There will be an interactive element to the session as the factor sensitivities of various portfolios can be examined in real-time.

Description: Charts for the Housing Wealth Effects, Boomer Refinancing, Housing Debt, and Retirement Saving Adequacy—1989-2007 monograph.

Description: This study revisits and updates the termination experience of single family mortgages originated during the early 1980s under the purview of the FHA and insured under the FHA's Mutual Mortgage Fund Insurance MMIF. It also provides a summary of the lessons learned from the study.

Description: An overview of the issues behind reimbursing providers on a bundled or packaged basis. The article presents the potential advantages offered by the proponents as well as the criticisms and obstacles to implementing this type of payment system.