Description: In this article, we provide practical guidance for understanding how to develop and apply an effective risk appetite statement.

Description: Read 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: An overview of the articles in the August 2012 issue of Risk Management and a list of winners of the most recent call for papers, “Risk Metrics for Decision Making and ORSA.”

Description: An exploration of Canada’s federal regulator of financial institutions (OSFI) and its more formal assessment of the actuarial function of insurers.

Description: The letter from the editor discusses some recent loss events driven by model error and provides an overview of the articles in this issue of Risk Management.

Description: Financial institutions have and continue to suffer substantial financial losses because of their exposures to various operational risks and insufficient risk management. Quantifying operational risk is a critical component of an institution’s ability to manage risk. The model described in the article provides a numerical measure for operational risks existing in a business entity through statistical methods. It takes experience data to reflect both the general features and company specifics of the defined operational risks, while also allowing for managerial discretion. An important achievement is to suggest a level of capital to hold against potential losses arising from operational risks.

Description: Update of the activities being carried out by the Joint Risk Management Section

Description: Hear from the editor’s on the December 2018 issue of Risk Management published by the JRMS.

Description: Other articles that will be of interest to readers.