Risk Management and Financial Reporting Council
The Risk Management and Financial Reporting Council oversees the Academy’s work on domestic and international financial reporting and risk management issues. It also coordinates Academy work affecting multiple areas of actuarial practice and serves as a liaison to public policy-makers, the financial community, and insurance industry representatives on these issues.
Staff Liaison:
Will Benke
Chairperson:
Bill Jones
Related Publications
RBC Model Governance Task Force Gap Analysis Considerations
The Cross-Practice Risk-Based Capital Task Force submitted comments in response to the NAIC Risk-Based Capital Model Governance (EX) Task Force's request for comments on RBC gap analysis...Date Published: 03/16/2026
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Comment Letter to NAIC on IMR Impact to Reinsurance
The Reinsurance Working Group submitted comments to the NAIC Statutory Accounting Principles (E) Working Group on the SAPWG 2025‑22 exposure draft regarding IMR impacts on reinsurance collateral....
Topics: Reinsurance Solvency
Date Published: 03/12/2026
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XR013 Investment Income Adjustment Stand-alone Factor
In response to a request from the NAIC’s Health Risk-Based Capital (E) Working Group, the Health Underwriting Risk Factors Analysis Work Group submitted a comment letter on the XR013 Investment...
Topics: Risk-Based Capital
Date Published: 02/27/2026
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Comments to Cayman Islands Monetary Authority
The Academy’s Risk Management and Financial Reporting Council and Life Practice Council submitted a joint comment letter to the Cayman Islands Monetary Authority in response to a recent...Date Published: 02/17/2026
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Councils Comment to NSF on Climate Research Center
The Risk Management and Financial Reporting Council, Casualty Practice Council, and Research Committee submitted a joint comment letter to the National Science Foundation urging reconsideration of...Date Published: 02/11/2026
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A Foundational Study of Algorithmic Bias
A Data Science and Analytics Committee (DSAC) policy paper, A Foundational Study of Algorithmic Bias, examines the types of biases that can be unintentionally embedded within the algorithms that...Date Published: 12/31/2025
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Attribution Science from an Actuarial Perspective
The Climate Change Joint Committee released Attribution Science from an Actuarial Perspective, an issue brief exploring how climate attribution science can be used in risk assessment and public...Date Published: 11/11/2025
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Climate Events and Insurance Affordability
Members of the Climate Change Joint Committee, along with Washington Insurance Commissioner Patty Kuderer, presented, Climate Events and Insurance Affordability, at the 2025 SOA ImpACT...Date Published: 11/06/2025
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Measuring Statistical Bias in Data Using Entropy
The Data Science and Analytics Committee (DSAC) released Measuring Statistical Bias in Data Using Entropy, a policy paper exploring how entropy can be used to quantify statistical bias and...
Topics: Data Science / Big Data Public Policy
Date Published: 11/05/2025
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Climate Scenario Considerations: U.S. Own Risk and Solvency Assessment (ORSA)
The Climate Related Financial Disclosures Subcommittee and the Climate Change Joint Committee released Climate Scenario Considerations: U.S. Own Risk and Solvency Assessment (ORSA), a policy paper...Date Published: 11/05/2025
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Finding and Using Climate Data
Members of the Climate Change Joint Committee presented, Finding and Using Climate Data, at the 2025 SOA ImpACT Conference. This session explored the current landscape of climate data through the...Date Published: 11/04/2025
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Practice Councils Comment to NAIC on Revised RBC Principles
The Casualty Practice Council, Health Practice Council, Life Practice Council, and Risk Management and Financial Reporting Practice Council submitted a joint comment letter to the NAIC’s...Date Published: 10/24/2025
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Comment Letter to CASTF Regarding the "Unknown Risk Characteristics in Personal Rating Lines" Exposure Draft
The Data Science and Analytics Committee (DSAC) submitted a comment letter in response to the NAIC Casualty Actuarial and Statistical (C) Task Force’s (CASTF) exposure draft, Unknown Risk...Date Published: 10/21/2025
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Comment Letter to NAIC on AI Systems Evaluation Tool
Providing an actuarial perspective on responsible use of AI in insurance, vice presidents from the Academy's casualty, health, life, and risk management and financial reporting councils sent a...Date Published: 09/08/2025
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Practice Councils Comment to NAIC on RBC Principles
The Casualty Practice Council, Health Practice Council, Life Practice Council, and Risk Management and Financial Reporting Practice Council submitted a joint comment letter to NAIC's Risk-Based...
Topics: Risk-Based Capital
Date Published: 07/24/2025
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Committees Comment to FASB on Standard-Setting Agenda
The Financial Reporting Committee and Life GAAP Reporting Committee sent a letter to the Financial Accounting Standards Board (FASB) as a response to the invitation to comment regarding FASB's...
Topics: Financial Reporting
Date Published: 06/30/2025
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Councils Comment to NOAA on Climate Database
The Casualty Practice Council, Risk Management and Financial Reporting Council, and Research Committee sent a comment letter to the National Oceanic and Atmospheric Administration (NOAA), strongly...
Topics: Casualty Risk Management
Date Published: 06/06/2025
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Committee Comments on RBC Preamble Re-Exposure
The Prudential Regulation Committee sent a comment letter to the NAIC's Capital Adequacy (E) Task Force on the re-exposure draft of Risk-Based Capital (RBC) Revised Preamble, 2024-16-CA.
Topics: Public Policy Risk Management
Date Published: 05/08/2025
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Committee Submits Agenda Request to FASB on Fixed Indexed Annuities
The Life GAAP Reporting Committee submitted an agenda request to the Financial Accounting Standards Board (FASB) regarding the application of accounting guidance for indexed annuity...
Topics: Financial Reporting Life
Date Published: 05/08/2025
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Practice Councils Comment to NAIC’s New RBC Model Governance Task Force
Vice presidents of the Academy's Casualty Practice Council, Health Practice Council, Life Practice Council, and Risk Management and Financial Reporting Council provided comments to the NAIC's newly...Date Published: 03/14/2025
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