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.
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

Dorothy Andrews Comments to NCOIL Special Committee on Race In Insurance Underwriting

Data Science and Analytics Committee (DSAC) Chair, Dorothy Andrews, addressed the issue of Race in Insurance Underwriting in a meeting convened by the National Council of Insurance Legislators and...
Date Published: 12/09/2020
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ERM/ORSA Climate Work Group Presentation to NAIC

ERM/ORSA Climate Related Financial Disclosures Work Group presentation to the National Association of Insurance Commissioners (NAIC) Climate and Resiliency (EX) Task Force.  
Date Published: 12/04/2020
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Financial Reporting Committee and Life Financial Reporting Committee Comments to FASB

The Financial Reporting Committee and Life Financial Reporting Committee comments to the Financial Accounting Standards Board (FASB) regarding indexing and modco embedded derivatives.  
Date Published: 11/23/2020
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Financial Reporting Committee Comments to AICPA

The Financial Reporting Committee comments to the American Institute of Certified Public Accountants (AICPA) regarding Targeted Improvements to Long-Duration Contracts Implementation Issue 11AC...
Date Published: 09/23/2020
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Presentation on Scalar Project Update to NAIC G Committee

Presentation by Steve Jackson on Scalars Project Update to the National Association of Insurance Commissioners (NAIC) International Insurance Relations (G) Committee.  
Date Published: 08/12/2020
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Financial Reporting Committee Comments to AICPA

The Financial Reporting Committee comments to the American Institute of Certified Public Accountants (AICPA) regarding draft revisions to the Audit and Accounting Guide: Life and Health Insurance...
Date Published: 03/25/2020
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Big Data And The Role Of The Actuary

While the use of Big Data in the property and casualty insurance area is more developed than in some of the other areas of actuarial practice, significant advances have been made in recent years in...
Date Published: 10/17/2019
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Financial Reporting Committee Letter to IASB

Financial Reporting letter on IASB exposure draft.  
Date Published: 09/25/2019
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Work Group White Paper on Estimating the Uncollectible Reinsurance Reserve for P/C Companies

Current Estimate Credit Losses Work Group white paper on the new FASB accounting requirement regarding uncollectible reinsurance.  
Date Published: 07/02/2019
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ERM/ORSA Committee Comment Letter on ASOP No. 22 Exposure

The ERM/ORSA Committee comment letter to Actuarial Standards Board on December 2018 exposure draft of ASOP No. 22, Statements of Actuarial Opinion Based on Asset Adequacy Analysis for Life or Health...
Date Published: 05/29/2019
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Work Group Practice Note on Model Risk Management

Model Risk Management Work Group practice note on model risk management.  
Date Published: 05/17/2019
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Task Force Letter on FSOC Regulation of Nonbank Financial Companies

Financial Regulatory Reform Task Force comment letter to the Financial Stability Oversight Council regarding the Council’s proposed guidance on nonbank financial company determinations.  
Date Published: 05/13/2019
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Committee Comment Letter on Proposed Modeling ASOP

ERM/ORSA Committee letter to the Actuarial Standards Board on the fourth exposure draft of a proposed new actuarial standard of practice for modeling.  
Date Published: 05/10/2019
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Work Group Comments on Exposure Draft of IAN 100 on Application of IFRS 17 Insurance Contracts

IFRS 17 Work Group comments to the IAA on the exposure draft of IAN 100 on Application of IFRS 17 Insurance Contracts.  
Date Published: 04/30/2019
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Presentation to NAIC on Big Data Monograph

Presentation to the NAIC Casualty Actuarial and Statistical Task Force (CASTF) Predictive Analytics Book Club on the Big Data and the Role of the Actuary monograph.  
Date Published: 06/25/2018
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Big Data and The Role of The Actuary

The Academy released the monograph, Big Data and the Role of the Actuary, at the International Congress of Actuaries meeting in Berlin on June 5. The monograph examines how Big Data is providing...
Date Published: 06/04/2018
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Comments to ASB on IAA International Standard of Actuarial Practice 4—IFRS 17 Insurance Contracts

Financial Reporting Committee comments to the Actuarial Standards Board for consideration on the International Actuarial Association's International Standard of Actuarial Practice 4—IFRS 17...
Date Published: 05/25/2018
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Questions for Consideration by IFRS Transition Resource Group for IFRS 17 Insurance Contracts

Financial Reporting Committee questions for consideration by the IFRS Transition Resource Group on IFRS 17 Insurance Contracts. 
Date Published: 03/22/2018
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Comments to ASB on Capital Adequacy Assessment Exposure Draft

ERM/ORSA Committee comments to the Actuarial Standards Board (ASB) on its Capital Adequacy Assessment for Insurers second exposure draft. 
Date Published: 03/01/2018
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Comments to IAIS on Activities Based Approach to Systemic Risk Interim Consultation Paper

Solvency Committee comments to the International Association of Insurance Supervisors (IAIS) on the Interim Consultation Paper on Activities-Based Approach (ABA) to Systemic Risk dated December 8,...
Date Published: 02/13/2018
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