Sessional Research Event: A Common Risk Classification System for the Actuarial Profession

Registration: 16.30 - 17.00

Programme: 17.00 -19.00

Drinks reception: 19.00 - 20.00

As the profession expands into wider areas of ERM such as operational and strategy risk, and members explore risks in greater depth for Solvency II, the scope for confusion between the different risk taxonomies actuaries use in their day to day work can only increase.
 
The Risk Classification Working Party has sought to address this by developing a common risk "language" to facilitate discussion of risks. This paper describes their work and the risk classification system they developed, highlighting the practical issues encountered and how these were addressed.
 
It should be of interest to all actuaries interested in risk, whatever their practice area.

To access the paper for this event please click here