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?”
