Superannuation

Using operational risk scenarios to calculate an internal risk based capital position

As a collaboration between the Actuaries Institute Superannuation Practice Committee (SPC) and Risk Management Practice Committee (RMPC), a small working group of actuaries (Tim Gorst, Vivian Dang, Matthew Burgess, Taleb Hassan, Bloreen Abbasi) worked together to explore the use of risk based scenario analysis in developing an internal operational risk-based capital (ORBC) position for Australian Super Funds. Their work considered the following core question “Is there a pragmatic way that a set of operational risk scenarios can be both parameterised and then aggregated to infer an internal ORBC position for an Australian Super Fund?”

Featured

Driven by Data: Laura Tsui

Taking the road less travelled has landed Laura Tsui in the cockpit of Qantas’ foray into using data analysis to assess commercial performance and customer engagement. Having completed actuarial studies at the University of New South Wales, Laura opted to move away from traditional actuarial roles and was inspired by the opportunities available in data analytics. In this latest Actuaries Institute podcast, Laura joins Meg Yang, from the Institute’s Young Data Analytics Working Group, to discuss Laura’s professional journey so far and the key reason why she wouldn’t hesitate to hire actuarial talent for data analytical roles.

COVID-19 Monday Roundup 12 October 2020

With the world’s attention on Trump’s COVID-19 infection, it was easy to miss another global record number of new cases, thanks to second waves in North America and Europe. Locally, Australian cases declined and New Zealand declared itself COVID-free for a second time, but cases in the Pacific have emerged. Research highlights concerns about a pandemic-induced spike in Parkinson’s disease and explores potential immunity to COVID from the common cold, while APRA resumes its work on Disability Income Insurance.

How actuaries can carry insurtech forward

In the latest Actuaries Institute podcast, Angat Sandhu virtually interviews Annette King, Chair and Co-founder of Galileo Platforms, to discuss the formation and purpose of Galileo, her advice to those considering establishing an insurtech startup, and the important role actuaries will play in the development of the insurtech space into the future.

Videos & Podcasts

Podcast

Driven by Data: Laura Tsui

Taking the road less travelled has landed Laura Tsui in the cockpit of Qantas’ foray into using data analysis to assess commercial performance and customer engagement. Having completed actuarial studies at the University of New South Wales, Laura opted to move away from traditional actuarial roles and was inspired by the opportunities available in data analytics. In this latest Actuaries Institute podcast, Laura joins Meg Yang, from the Institute’s Young Data Analytics Working Group, to discuss Laura’s professional journey so far and the key reason why she wouldn’t hesitate to hire actuarial talent for data analytical roles.

Podcast

How actuaries can carry insurtech forward

In the latest Actuaries Institute podcast, Angat Sandhu virtually interviews Annette King, Chair and Co-founder of Galileo Platforms, to discuss the formation and purpose of Galileo, her advice to those considering establishing an insurtech startup, and the important role actuaries will play in the development of the insurtech space into the future.

Contributor Spotlight
"In conclusion the working group felt that the development of scenarios using management interviews was useful both to help identify and understand operational risk (in the absence of operational risk “severe loss tail” data) but also in turn to support an internal ORBC model. "
Tim Gorst
All Work Contribute Today

Career Opportunities