Risk Management & Financial Reporting
The Academy’s Risk Management and Financial Reporting Council (RMFRC) serves as a trusted source for objective technical insights, and guidance for policymakers and regulators.
RMFRC is dedicated to illuminating decisions and redefining the standards of excellence in the ever-evolving world of Risk and Finance.
Additional Consideration in Data Science
A series of issue briefs providing a more complete, contextual view of important topics that arise in data science.
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Big Data
Academy resources on analyzing vast datasets using advanced computational methods to uncover trends, patterns, and associations.
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Enterprise Risk Management
Issues related to ERM encompassing property/casualty, life, and health actuarial practice areas.
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Federal Insurance Regulation/Systemic Risk
Regulation of insurance by the federal government or as a systemic risk to the economy.
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Financial Reporting/International Accounting
Global financial reporting issues that affect multiple areas of actuarial practice.
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Solvency/Reinsurance
Solvency, risk management, and reinsurance issues impacting various actuarial practices globally.
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Risk Management & Financial Reporting Resources
Comment / Letter
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.
Comment / Letter
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…
Comment / Letter
DSAC Comments to IAIS on a Public Consultation on AI
The Data Science and Analytics Committee (DSAC) submitted comments to the International Association of Insurance Supervisors (IAIS) on IAIS’ public consultation draft application paper on the…
Issue Brief
DSAC Releases Paper on Natural Experiments
The Data Science and Analytics Committee (DSAC) has released an issue paper, Natural Experiments. The paper discusses an approach to establish causation that approximates the construction of a…
Research Paper
Committees Release White Paper on Hedging & Risk Management
The Risk Management and Financial Reporting Council’s (RMFRC) Financial Reporting Committee, ERM/ORSA Committee, and the Life Practice Council’s Life GAAP Reporting Committee released a white…
Resource
Applicability Guidelines for Actuarial Standards of Practice
Introduction to the Applicability Guidelines Actuarial Standards of Practice. The Actuarial Standards Board (ASB) sets standards for appropriate actuarial practice in the United States…
Issue Brief
Defining Big Data
The Data Science and Analytics Committee released an issue paper, Defining Big Data. The paper is intended to build a shared language and concepts of big data and associated themes for the actuarial…
Presentation
DSAC Present to CASTF on Data Bias
Members of the Data Science and Analytics Committee presented at the NAIC CASTF (Casualty Actuarial Statistical Task Force) “Book Club”. The presentation explored key types of data bias that…
Comment / Letter
Committee Comments on AI Use in the Financial Services Sector
The Data Science and Analytics Committee commented to the U.S. Department of the Treasury on the Request for Information (RFI) on Uses, Opportunities, and Risks of Artificial Intelligence in the…
Issue Brief