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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

Comments to IAIS on Higher Loss Absorbency Proposal

Solvency Committee comments to the International Association of Insurance Supervisors (IAIS) on the Higher Loss Absorbency Capacity for Global Systemically Important Insurers (G-SIIs) public...
Topics: Financial Reporting Risk Management Solvency
Date Published: 08/06/2015
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Comments to FASB on Retrospective Unlocking in Long-Duration Contracts

Financial Reporting Committee comments to the Financial Accounting Standards Board (FASB) on issues raised during the May 21, 2015 educational session related to retrospective unlocking in...
Topics: ASB Financial Reporting Risk Management
Date Published: 07/22/2015
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Comments to ASB on Capital Adequacy Assessment Discussion Draft

Risk Management and Financial Reporting Council (RMFRC) comments to the Actuarial Standards Board (ASB) on its Capital Adequacy Assessment for Insurers discussion draft.  
Topics: Actuarial Standards ASB Financial Reporting Risk Management
Date Published: 07/21/2015
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Academy Committees Comment on PCAOB Auditor and Specialist Paper

The Financial Reporting Committee, Pension Accounting Committee, Casualty Committee on Property and Liability Financial Reporting, Health Financial Reporting and Solvency Committee, and Life...
Topics: Casualty Financial Reporting Retirement Risk Management Solvency
Date Published: 07/15/2015
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Letter to Federal Reserve on MOCE

Risk Management and Financial Reporting Council letter to the Federal Reserve Board on issues related to a “margin over current estimate” (MOCE) for international insurance capital standards. 
Topics: Financial Reporting Risk Management
Date Published: 07/14/2015
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FinReg Letter to Congress on FSOC Annual Report

Financial Regulatory Task Force (FinReg) letter to the U.S. House Financial Services Committee (HFSC) on the Financial Stability Oversight Council (FSOC) 2015 annual report. 
Topics: Financial Reporting Risk Management
Date Published: 06/17/2015
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GAAP Accounting for Profits Followed by Losses in Long-Duration Contracts

Profits Followed by Losses Subgroup practice note on accounting for profits followed by losses in long-duration contracts.  
Topics: Financial Reporting Risk Management
Date Published: 06/10/2015
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Comments to IAIS on Insurance Core Principle 8

Risk Management and Financial Reporting Council comments to the International Association of Insurance Supervisors (IAIS) on Insurance Core Principle (ICP) 8: Risk Management and Internal Controls. 
Topics: Financial Reporting Risk Management
Date Published: 05/12/2015
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Presentation on Insurance Capital Standards Modeling to IAIS

Risk Management and Financial Reporting Council and Solvency Committee presentation to the International Association of Insurance Supervisors (IAIS) on modeling for insurance capital standards...
Topics: Financial Reporting Risk Management Solvency
Date Published: 05/06/2015
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Committee Comments to IAIS on Conduct of Business Risk Draft Paper

ERM/ORSA Committee comments to the International Association of Insurance Supervisors (IAIS) on its draft issues paper Conduct of Business Risk and its Management. 
Topics: Financial Reporting Risk Management
Date Published: 05/01/2015
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Comments to FASB on Bifurcated Embedded Derivatives

Financial Reporting Committee comments on the Financial Accounting Standards Board's (FASB) proposed accounting standards update-Derivatives and Hedging (Topic 815): Disclosures about Hybrid...
Topics: ASB Financial Reporting Risk Management
Date Published: 04/30/2015
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Solvency Committee Testimony to Senate on Insurance Capital Proposals

Solvency Committee written testimony for the U.S. Senate Banking Subcommittee on Securities, Insurance, and Investment hearing on “Examining Insurance Capital Rules and FSOC Process.”   
Topics: Financial Reporting Risk Management Solvency
Date Published: 04/30/2015
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Solvency Committee Congressional Testimony on International Insurance Regulations

Solvency Committee written testimony for the U.S. House Financial Services Subcommittee on Housing and Insurance's hearing on "The Impact of International Regulatory Standards on the Competitiveness...
Topics: Financial Reporting Risk Management Solvency
Date Published: 04/29/2015
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Comments to FIO on U.S. GAAP Loss Recognition Testing and ICP 14

Risk Management and Financial Reporting Council and Financial Reporting Committee comments to the Federal Insurance Office (FIO) on U.S. GAAP loss recognition testing and Insurance Core Principle...
Topics: Financial Reporting Risk Management
Date Published: 04/27/2015
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Comments to FSOC on Insurance Asset Management Products

Financial Regulatory Task Force comments to the Financial Stability Oversight Council (FSOC) on the impact of insurance asset management products and activities to U.S. financial stability.  
Topics: Financial Reporting Risk Management
Date Published: 03/23/2015
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Comments to IAIS on Global Insurance Capital Standard

Solvency Committee comments to the International Association of Insurance Supervisors on the Risk-based Global Insurance Capital Standard public consultation document dated Dec. 17, 2014. 
Topics: Financial Reporting Risk Management Solvency
Date Published: 02/06/2015
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Comments to IASB on Participating Contracts

Financial Reporting Committee comments to the International Accounting Standards Board (IASB) on its treatment of participating contracts in its insurance contracts project in follow-up to a November...
Topics: ASB Financial Reporting Risk Management
Date Published: 12/23/2014
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Comments to GAO on Global Capital Standards

Financial Regulatory Task Force comments to the Government Accountability Office (GAO) on its global capital standards report.  
Topics: Financial Reporting Risk Management
Date Published: 12/16/2014
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Council Comments to FSB on Insurer Recovery and Resolution Proposal

Risk Management and Financial Reporting Council comments to the Financial Stability Board (FSB) on the consultative document: Recovery and Resolution Planning for Systemically Important Insurers:...
Topics: Financial Reporting Risk Management
Date Published: 12/15/2014
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Committee Comments on Group Capital Methodologies

Solvency Committee comments to the National Association of Insurance Commissioners on the U.S. Group Capital Methodology Concepts Discussion Paper. 
Topics: Financial Reporting Risk Management Solvency
Date Published: 12/05/2014
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