Actuaries Digital

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?”

by Tim Gorst

Featured

Features

Survey results from actuaries – unemployment rate and disability claims

As part of our blog article What is the relationship between unemployment rate and disability claims experience?, we conducted a survey to collect actuaries’ views on the relationship between unemployment rate and disability claims costs.

by Iris Deng and Didier How Yin Fat

Covid-19 Blog

Update on Mortality in Australia

The ABS has just released the mortality statistics for the month of June in Australia (for doctor-certified deaths only, excluding coroner-referred deaths). Authors of the recent Research Note have analysed this to update previous detailed analysis up to May.

by Jennifer Lang, Karen Cutter and Richard Lyon

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.

by Richard Bannon

Climate Change Blog

Climate Change at the 20/20 All-Actuaries Virtual Summit

This edition of the Climate Change Blog looks at the topic of Climate Change in the 20/20 All-Actuaries Virtual Summit, providing a summary of five presentations on this topic across the Summit.

by Evelyn Yong, James Yap, Alison Drill, Ramona Meyricke and Michelle Dong

Covid-19 Blog

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.

by Kirsten Armstrong, Kirsty Hogan, Alex Stitt, Benita Pienaar, Gokul Chandrasekaran and Karen Cutter

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.

by Richard Bannon

Videos & Podcasts

Podcast

Driven by Data: Laura Tsui

by Richard Bannon

Podcast

How actuaries can carry insurtech forward

by Richard Bannon

Podcast

International Committee practice update podcast

Through the ongoing coronavirus pandemic in Asia, the activities of the International Committee haven’t slowed. In this podcast update, committee members Brendan Counsell and Andy Yang discuss the Asia strategy and implementation in the new virtual world.

by Actuaries Institute

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

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