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Risk Management and Financial Reporting Council

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.
Volunteer Academy Connect
Staff Liaison: Will Benke
Chairperson: Steve Malerich
Members:
Dorothy Andrews
Rowen Bell
Seong-min Eom
Charles Ford
Dana Hunt
Jeffrey Johnson
Novian Junus
Kenneth Kasner
Gareth Kennedy
Darrell Knapp
Warren Manners
Patricia Matson
Marc Oberholtzer
Peter Ott
Jason Pessel
Bruce Stahl
Randall Stevenson
Kyle Stolarz
Sheldon Summers
Jeremy Williams

Related Publications

White Paper on Other Comprehensive Income

International Accounting Standards Task Force’s white paper on the topic “What Belongs in Other Comprehensive Income” and “How Would You Calculate It?” with respect to insurance...
Topics: Financial Reporting Risk Management
Date Published: 12/06/2011
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On Risk Classification

The Risk Classification Work Group published “” an update to the 1980 “Risk Classification Statement of Principles”. This monograph is intended to provide actuaries and other interested...
Topics: Financial Reporting Risk Management
Date Published: 11/15/2011
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Comments on NAIC Own Risk and Solvency Assessment (ORSA) Guidance Manual

 
Topics: Financial Reporting NAIC Risk Management Solvency
Date Published: 11/01/2011
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Comments on NAIC ORSA Guidance Manual

ERM Committee comments on wording suggestions to the NAIC on its Own Risk and Solvency Assessment (ORSA) Guidance Manual recognizing the model risk for insurers.  
Topics: Financial Reporting NAIC Risk Management Solvency
Date Published: 10/28/2011
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Response to IASB on Agenda Consultation 2011 paper

Financial Reporting Committee and International Accounting Standards Task Force response to the International Accounting Standards Board (IASB) on its Agenda Consultation 2011 paper.  
Topics: ASB Financial Reporting Risk Management
Date Published: 10/27/2011
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Financial Reporting Committee Letter to PCAOB on Auditor's Report

Financial Reporting Committee letter to the Public Company Accounting Oversight Board (PCAOB) on the issues surrounding the auditor’s report based on recent investor feedback. The committee’s...
Topics: Financial Reporting Risk Management
Date Published: 09/30/2011
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Financial Reporting Committee Letter to PCAOB on Auditor's Report

Financial Reporting Committee letter to the Public Company Accounting Oversight Board (PCAOB) on the issues surrounding the auditor’s report based on recent investor feedback. The committee’s...
Topics: Financial Reporting Risk Management
Date Published: 09/30/2011
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Comments on Exposure Draft of Credit for Reinsurance Model Law

Reinsurance Subcommittee comments to the NAIC on the actuarial requirements stated in the "Exposure Draft of the Credit for Reinsurance Model Law and Regulation." 
Topics: Financial Reporting NAIC Reinsurance Risk Management
Date Published: 09/01/2011
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Comments to IAIS on ComFrame paper

Solvency Committee's comments to the International Association of Insurance Supervisor (IAIS) on its concept paper, Common Framework for the Supervision of Internationally Active Insurance Groups....
Topics: Financial Reporting Risk Management Solvency
Date Published: 08/25/2011
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Comments on NAIC ORSA Guidance Manual

ERM Committee comments to the NAIC on its Own Risk and Solvency Assessment (ORSA) Guidance Manual supporting its view that the manual offers ORSA guidance which focuses on the most fundamental...
Topics: Financial Reporting NAIC Risk Management Solvency
Date Published: 08/25/2011
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Comments on IAIS Concept Paper, 'Common Framework for the Supervision of Internationally Active Insurance Groups'

Solvency Committee comments to the NAIC on its ComFrame Concept Paper Draft US Responses and supports the position that the modules should be outcome-oriented rather than prescriptive.  
Topics: Financial Reporting NAIC Risk Management Solvency
Date Published: 08/15/2011
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Comments on 'Common Framework for Supervision of Internationally Active Insurance Groups'

Solvency Committee comments to the International Actuarial Association (IAA) on the International Association of Insurance Supervisor (IAIS) concept paper, Common Framework for the Supervision of...
Topics: Enterprise Risk Management Financial Reporting Governance Risk Management Solvency
Date Published: 07/27/2011
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Letter to Treasury on Metrics to Monitor Insurance Industry Systemic Risk

Financial Regulatory Reform Task Force letter to the Department of the Treasury outlining the metrics intended to aid in identifying systemic risk in the insurance sector. 
Topics: Financial Reporting Risk Management
Date Published: 06/24/2011
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Comments on Revised IAIS ICP 14: Valuation for Solvency Purposes

Solvency Committee input to the NAIC on the recently revised International Association of Insurance Supervisors paper, Insurance Core Principle 14: Valuation for Solvency Purposes. 
Topics: Financial Reporting NAIC Risk Management Solvency
Date Published: 05/18/2011
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Reinsurance Subcommittee Comments on Insurance Contracts

Reinsurance Subcommittee letter to the IASB on its Insurance Contracts Exposure Draft regarding recognition of gains and losses on reinsurance ceded for long duration contracts. 
Topics: ASB Financial Reporting Reinsurance Risk Management
Date Published: 04/11/2011
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Comments on IAIS Paper ICP14: 'Valuation for Solvency Purposes'

Solvency Committee comments on the IAIS paper, ICP14: 'Valuation for Solvency Purposes.'  
Topics: Financial Reporting Risk Management Solvency
Date Published: 03/24/2011
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Comments on CRA Ratings document

 
Topics: Financial Reporting Risk Management
Date Published: 03/24/2011
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Comments on Valuation for Solvency Purposes

Solvency Committee comments to the IAA and additional comments to the NAIC on the IAIS paper, ICP 14: "Valuation for Solvency Purposes."  
Topics: Financial Reporting NAIC Risk Management Solvency
Date Published: 03/24/2011
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Comments on NAIC ORSA Proposal

ERM Committee comments to the NAIC on its U.S. Own Risk and Solvency Assessment (ORSA) Proposal.  
Topics: Financial Reporting NAIC Risk Management Solvency
Date Published: 03/18/2011
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Comments on Systemic Risk of Non-Bank Financial Companies

Financial Regulatory Reform Task Force comments to the Financial Stability Oversight Council on its proposed rule, "Authority to Require Supervision and Regulation of Certain Non-Bank Financial...
Topics: Financial Reporting Risk Management
Date Published: 02/25/2011
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