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Disbanded research working parties

Listed below are the Risk Management working parties which have now completed their research and are disbanded. Please use the links provided to find out more about the area of research each working party undertook and to view their final output
  • Climate Risk Reporting - undertaking research on climate risk-related practices in reporting by a range of UK insurance companies and pensions funds
  • Design of the Risk Function - to look at how we define a risk function and how does risk function define its role
  • Dynamic Two-Way Operation of a Capital Allocation Framework - providing practical guidance on how capital is allocated to support strategic and day-to-day management of insurance companies
  • Environmental Risk Reporting - building on the work of the ‘Risk Reporting’ Working Party and the ‘incentives facing UK firms to adopt early risk reporting provisions of the Revised Corporate Code
  • Emerging Risks - considering emerging risks in the core actuarial fields of insurance, pensions and investments
  • Extension Implementation Risk Reporting - examining implications for the profession arising from the FRC consultations
  • IFR - developing a method of analysing the financial performance of an insurance company in terms of the risks identified by the risk management function
  • Model Risk - this is not as well defined and established as other more traditional risks, so the identification, understanding and communication of model risk is crucial
  • Proxy Modelling - assessing the impact of methodology and design choices against a number of relevant criteria, including accuracy, speed, complexity, ease of implementation and cost
  • FRC and Risk Reporting - focus was on research into Long Term Viability Statement and Risk Culture
  • Reasons for insurance company failures - considered the lessons learnt from the failure of insurance companies, and how effective the FSA reverse stress testing requirements were in mitigating future failours
  • Risk appetite and risk limits - how to ensure top down appetite is consistent with bottom up limits
  • Risk Classification - risk terminology varies from organisation to organisation and actuaries working in different organisations may use different terms to refer to the same risk, or use the same nomenclature for completely different risks
  • Risk Culture - explores how to represent and assess risk culture and the feasibility of changing risk taking cultures at the level of a solo insurer
  • Risk Measures - looking at the policy issues arising from the trend to short term investment behaviour by pension funds and life companies, lower equity holdings reflecting reduced willingness to take on risk, and procyclical investing that exacerbates market cycles
  • Risk Reporting - looked to develop proposals for enhancing our understanding of risk reporting based on the key elements, reporting to regulators, reporting to outside stakeholders, reporting for managing the business.

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Contact Details

For more information about Risk Management working parties contact the CommunitiesTeam.

professional.communities@actuaries.org.uk

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Start date
E.g., 28/09/2020
End date
E.g., 28/09/2020

Events calendar

  • Autumn Lecture 2020: Professor Elroy Dimson

    Online webinar
    14 October 2020

    Spaces available

    Many individuals and institutions have a long-term focus, and invest funds for the benefit of future generations. Their strategy should reflect their long horizon. University endowments are one of the oldest classes of institutional investor, and I will present the first study of the management of these endowments over the very long term.

  • GIRO Conference 2020 Webinar Series

    Available to watch globally in November.
    02-13 November 2020
    Spaces available

    This year's GIRO has been re-designed as a virtual conference to offer members and non-members the opportunity to get up to date content from leading experts in the general insurance field via online webinars. All sessions will be recorded and made available to purchase and re-watch post-event on the IFoA's GI Online Learning Resource area.

  • Life Conference 2020 Webinar Series

    Online
    16 November 2020 - 27 November 2020

    Spaces available

    This year's Life Conference has been re-designed as a virtual conference to offer members and non-members the opportunity to get up to date content from leading experts in the life insurance field via online webinars. All sessions will be recorded and made available to purchase and re-watch post-event on the IFoA's website.

  • Spaces available

    Cash-flow driven investing is a game-changer for DB pension funds navigating their end-game. Suitable for sponsors who want to reduce risks on their balance sheets. And for trustees, it shifts the focus to providing greater certainty of returns, managing funding level volatility and ensuring they have enough income to pay cash-flow requirements.

  • Spaces available

    The talk will provide an understanding of the priorities and relationships between deficit reduction contributions, in the context of wider scheme funding, and different types of value outflow from the employer based on the working party’s recently published report.