Description: Is Risk/Return a sound tool for decision-making? No. It is not consistent, not objective, distorts decision and degrades governance. Why? What shall we do then?

Description: In this article, the author examines the black holes that arise every day in the form of pressures such as: competitive, top line growth, staff expertise, and regulatory to name a few.

Description: This article highlights some of OSFI’s expectations regarding the ORSA process, and provides general feedback and observations from OSFI’s reading of 2014 ORSA reports (including KMR) and discussions with insurers.

Description: List of recent publications that may be of interest to readers of Risk Management newsletter.

Description: ERM may exist in name only without a risk-aware culture. The article uses battle-tested approaches & behavioral insights to drive change and embed risk culture.

Description: Read the French language version of the December 2017 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: Cyber threats and their costs are a continuously evolving, moving target and a source of uncertainty.

Description: Highlight of the ERM Symposium

Description: Introduction to option pricing, with special attention to issues in applying these tools to price equity-linked insurance products. Clear, accessible explanation of key results of mathematical finance including risk-neutral valuation.

Description: Decomposes guaranteed minimum maturity benefit option into a basket of components, and values each component with both a Black-Scholes model and a regime-switching GARCH model. Performs sensitivity analysis on dynamic lapse assumption.