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A review of the use of complex systems applied to risk appetite and emerging risks in ERM practice

Recommendations for practical tools to help risk professionals tackle the problems of risk appetite and emerging risk

Published online by Cambridge University Press:  14 November 2012

Neil Allan ,
Neil Cantle ,
Patrick Godfrey  and
Yun Yin
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Abstract

The Management Board of the UK Actuarial Profession has identified enterprise risk management (ERM) as an area of growth, particularly within the financial sector. It is an area which offers opportunities for actuaries, working with other disciplines, to move out of their traditional sectors of employment, with the skill set required fitting well with an actuary's training and practical focus.

Members of the Profession also highlighted ERM as one of the two main areas where they wanted the Profession to focus their research efforts in the membership survey in 2009. Consequentially the Management Board allocated funds to support research projects in ERM in 2010–2011 and has worked with the ERM Practice Area Committee to identify the topics that they feel most suited to external research where the outputs will have a broad strategic value to the financial services sector.

Keywords

Enterprise Risk management (ERM)Risk appetiteEmerging risks
Type
Sessional meetings: papers and abstracts of discussions
Information
British Actuarial Journal , Volume 18 , Issue 1 , March 2013 , pp. 163 - 234
Copyright
Copyright © Institute and Faculty of Actuaries 2012 

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