Description: Today's actuarial teams dedicate substantial time and resources to maintain strong frameworks for risk management and control. Current practices typically endure this as a sunken cost, yielding minimal value beyond SOX/MAR/COSO compliance and basic error prevention. With a small up-front time investment, and a willingness to approach these activities with an open mind, the functionality of existing compliance activities can be completely transformed. Compliance activities, once a sunken time cost, can be elevated to deliver more insightful analysis to stakeholders.

Description: The article provides an update on the 2019 ERM Symposium with regard to date, location and content (General Sessions and Concurrent Sessions).

Description: This paper demonstrates the potential synergies from applying actuarial techniques to operational risk analysis. It also demonstrates practical techniques, grounded in actuarial science, to solve operational risk management problems such as risk cost allocation and risk mitigation cost-benefit analysis. From 2006 Enterprise Risk Management Symposium, M-AS06-1.

Description: The article provides an update on the 2019 ERM Symposium with regard to date, location and content (General Sessions and Concurrent Sessions).

Description: This research project examines operational risk management practices and assess the viability of ORM as a formal discipline. A key goal of this initiative has been to determine whether the management of operational risk is feasible, and, if so, what issues need to be addressed in order to effectively implement ORM within a broader ERM context.

Description: This paper examines the potential impact of increasing negative commentary by social media users in multiple forums, which can erode the “reputation capital” of a utility. It also offers an approach for successfully addressing that risk and integrating social media risk management practices into existing utility enterprise risk management (ERM) programs.

Description: This presentation outlines one company's approach to enterprise risk management and how it is used to monitor and control operational risk.

Description: This article offers a comprehensive approach for “lean” model risk management (MRM), i.e., the management of an MRM program with few or possibly one employee devoted to the role. It explores key objectives of an MRM program, essential process elements, tips for efficiency, and examine the use of artificial intelligence (AI) in the models themselves and as a tool to increase efficiency of the program.

Description: Abstract: This paper examines the potential impact of increasing negative commentary by social media users in multiple forums, which can erode the “reputation capital” of a utility. It also offers an approach for successfully addressing that risk and integrating social media risk management practices into existing utility enterprise risk management (ERM) programs.