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
Issue Brief
Issue Brief Examines Dividend Limitations
The ERM/ORSA Committee released an issue brief, Dividend Limitations—Affiliated Transactions. The issue brief focuses on two issues: 1) review of the existing dividend limitation—which is the…
Presentation
Climate Risk Webinar Presentation
The Climate Change Joint Committee (CCJC) presentation on How Climate Risk Applies to All Actuaries.
Comment / Letter
ERM/ORSA Committee Comments to ASB on ERM ASOP Exposure Draft
The ERM/ORSA Committee’s comments submitted to the Actuarial Standards Board (ASB) in response to the request of the ASB’s Enterprise Risk Management Committee to provide written comments on the…
Presentation
Presentation on Cyber Risk at CREAR Cyber Conference
Director of Research Steve Jackson presented on cyber risk at an International Workshop on Cyber Risk and Security during the Center of Research in Econo-finance and Actuarial sciences on Risk…
Comment / Letter
Risk Management and Financial Reporting Committee Submits Comments to the National Association of Insurance Commissioners on AI
The Risk Management and Financial Reporting Committee submitted comments on Sept. 1 to the NAIC on their Draft Model Bulletin Use of Algorithms, Predictive Models, and Artificial Intelligence Systems…
Issue Brief
Discrimination: Considerations for Machine Learning, AI Models, and Underlying Data
This issue brief defines discrimination (including distinguishing between discrimination, unfair discrimination, and unjust discrimination); presents practical methods for testing and monitoring…
Issue Brief
DSAC Issue Brief Examines Data Bias
The Data Science and Analytics Committee (DSAC) released an issue brief, An Actuarial View of Data Bias: Definitions, Impacts and Considerations. The issue brief—the first in a new DSAC series…
Issue Brief
An Actuarial View of Data Bias: Definitions, Impacts and Considerations
This issue brief examines the key types of data bias that actuaries may encounter and focuses on the kinds of biases found in modeling data and the implications for algorithmic outcomes.
Policy Paper
Climate Risks Pose Broad Impacts on Financial Security Systems
A public policy paper released by the Academy’s Climate Change Joint Committee, Climate Risks Pose Broad Impacts on Financial Security Systems, looks at the effects of a changing climate across…
Resource