Introduction to ERM

2022 Introduction to ERM for Actuaries

February – Risk Capital / Economic Capital

2021 Introduction to ERM for Actuaries (Virtual – December)

TopicHoursStartFinishBlog Post
1Introduction – Three Levels of ERM0.512:0012:30THREE
2Risk Identification & Prioritization0.512:301:00ID
3Control Cycles0.51:001:30CC
Break0.251:301:45
4Risk Mitigations0.751:452:30MIT
5Risk Measurement0.752:303:15MES
Break0.253:153:30
6Risk Reporting0.53:304:00MES
7Risk Management Roles0.54:004:30ROL
8ERM Framework0.54:305:00FRA

Additional Reading and Reference Materials

CAS_overviewofERM

ERM_ Practice_Note_July_2013_0

IAA_Note_on_ERM

Yellow Light

Identifying Risks

Measuring Risks

Risk Organization

Risk Limits and Controls

ERM Policies and Standards

==========================================================================

Versions of this course have been presented in:

  • Chicago (2001) – Sponsor SOA
  • Orlando (2001) – Sponsor SOA
  • New York (2002) – Sponsor SOA
  • Denver (2003) – Sponsor SOA
  • Seoul (2005) – Sponsor Samsung Fire & Marine / Milliman
  • Nairobi (2010) – Sponsor IAA
  • Riyahd (2010) – Sponsor Saudi Re
  • Almaty (2012) – Sponsor IAA
  • Mexico City (2012) – Sponsor IMF
  • Laussane (2013) – Sponsor SAA
  • Philadelphia (2014) – Sponsor CAS
  • New York (2014) – Sponsor CAS
  • Bogota (2014) – Sponsor ACA
  • San Francisco (2015) – Sponsor CAS
  • Virtual (2107) – Sponsor Willis Re
  • Virtual (2018) – Sponsor Willis Re
  • Virtual (2021-2022) – Sponsor IABA

This page provides handouts and readings for students to these courses.  The author does not grant permission for anyone to sell this material.

==============================================

2015 Intro to ERM (SF February)

PDFs of Seminar Slides

A1 B2 C1 D1 E1 F1

Willis Wire ERM Articles

Rational adaptation for ERM in a changing environment

2014 Practical Overview of ERM

Reference Materials

CAS_overviewofERM

ERM_ Practice_Note_July_2013_0

IAA_Note_on_ERM

Internal_Models_EN

StressTestingPaper(1)

Reading Materials

Risk&Light_Contingencies

Downhill_Skiing

act-2012-Yellow-Light-ingram

Creating_RM_Culture

Emerging Risk Article

ERM Rainbow JRMS

WhatsYourRiskAttitude?

ERM_Corporate_Hierarchy

Investment Strategy Development

ORSA Article

Trifurcation_Divide_to_Conquer

SAA 26th Summer School – Lausanne – 2013

Session G Very Hard Knocks

Session P_Ingram_seven_principles_insurer_erm

ERM Seminar – Mexico City 2012

Part1_InternalModels

Part2_Stress Testing_

Part3_ERM_ORSA

    Spanish Versions

Ingram_Stress Testing esp

D Ingram_Internal Models_esp

D Ingram_ERM and ORSA ESP

Materials for the 3rd Actuarial School in Almaty, October 2010.

CARE Report  (English)

Introduction to ERM  (English)

CARE Report (Russian)

Introduction to ERM (Russian)

======================================================

Posts on 8 ERM Fundamentals

Identifying Risks

Measuring Risks

Risk Language

Risk Organization

Risk Limits and Controls

ERM Policies and Standards

Risk Management Culture

Risk Learning

==========================================

Materials for the November 2009 ERM Course in Nairobi Kenya

Course

Kenya_Class_Outline

Kenya_Class_Schedule

Kenya_Class_Objectives

Kenya_Class_Reading List

Slides

Introduction_1

Fundamentals

Assessment_

Advanced_

Kenya – Execs

Readings

SPGlobalOverview2008

specialty-guide-ecv1.5

RMBP Article

Risky Stories

Risk&Light_Contingencies

Risk Tolerance

OSFI-Supervisory Framework

Non-Life-OCT2007

IAISGuidance_paper__2_2_5_on_ERM

IAA_Note_on_ERM

FSA_ISB_2006

ERM Briefing Risk Tolerance

Emerging Risks

Downhill_Skiing

CRO_Forum_Resp%20Crisis

CAS_overviewofERM

Beis_ERM_r060502d

bcbs28a_Interest_Rate_Risk

AAA Risk Map

5 ERM_Criteria_Refined_June_2006

3 S&P Insurance ERM_Summary

SSG_Risk_Mgt_doc_final

Variable Annuity Crisis

Variable Annuity Hedging

2008 Hedging Results in the Crisis

PRUDENTIAL SUPERVISION OF INSURANCE UNDERTAKINGS

Nissan Mutual Failure

Managing Risk: Practical lessons from recent “failures” of EU insurers

Insurance Industry Background

Accounting & Solvency II

US PC 2009 Financial Results

US Life 2008 Statistic

CORE ERM PRACTUCES

Stress Testing

Risk Capital

Risk Reporting

Risk Management Governance

Change Risk

4 Comments on “Introduction to ERM”


  1. […] Korea; Nairobi, Kenya;  Almaty, Kazakhstan; Mexico City, Mexico and Lausane, Switzerland.  See Introduction to ERM where slide decks and suggested readings are […]


  2. […] This post is the first in a series to discuss the 8 ERM Fundamental Practices.  There is more material for starting ERM programs at Introduction to ERM. […]

  3. riskviews Says:

    Videos of Max Rudolph presenting “Making Better Decisions using ERM” at https://riskviews.wordpress.com/2010/04/21/making-better-decisions-using-erm/

  4. riskviews Says:

    Other resources are identified at ERMBOOKS http://wp.me/gZQh


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