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The Actuary The magazine of the Institute & Faculty of Actuaries
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SIAS calendar of events

Tuesday 1 February
The actuary as an expert witness
Staple Inn,
High Holborn,
London
5.30 for 6pm start

In an increasingly litigious world, it is likely that at some point in his or her career a member of the profession will be invited to act as an expert witness in connection with potential litigation. For some actuaries, particularly those involved in the field of accident compensation, such work will represent a significant proportion of their regular workload, but for many it will be an occasional or one-off and possibly somewhat daunting possibility.

This paper is intended to provide general guidance as to whether or not an invitation to act as an expert should be accepted and what to expect once a case has been taken on. It is written more with the sole practitioner in mind — who will not have the support of a large consulting organisation and colleagues who have undertaken such roles in the past — but we hope that it will also be of interest to those with experience of this type of work.

The paper may also be of interest to any actuary who is called as a witness of fact in connection with litigation concerning his or her employer or a particular consulting assignment.

There is no need to register in advance for this event. Refreshments will be available from 5:30pm for a 6pm start. Following the meeting there will be a free drink and buffet at a nearby pub.

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Thursday 17 February
Ceilidh night
Cecil Sharp House,
2 Regents Park Road,
London,
NW1 7AY
Time TBC

Time to get your dancing shoes on again for a floorfilled night of ceilidh. Let the band whisk you far away to the Scottish Highlands. This night promises to be so much fun, you could potentially dance your socks off! There will be plenty of food and drink to replenish your energy, so all you need to do is come along with comfortable shoes and a big smile.

There is no need for any previous dance experience for you to attend. All the dances are explained beforehand and there is a caller on hand to shout out the right moves at the right time to help keep you on course. For those of you who are slightly shy, SIAS will be providing welcome drinks to help loosen your feet, so there is no excuse to miss out.

The venue has a bar and there will be a finger buffet served during the evening. To purchase your tickets please e-mail social@sias.org.uk. Please note that we will allocate places on a first-come, first-served basis, so be sure to reserve quickly to avoid disappointment.

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Tuesday 15 March
Dynamic Management Actions
Staple Inn,
High Holborn,
London
5.30 for 6pm start

Realistic modelling of dynamic management actions (DMA) is critical to many areas of the financial management of a life insurance company today.

Dominic Clark, Jeremy Kent and Ed Morgan will provide an overview of this topic. They will:
>> 1) Explain what is meant by DMA and what the main types are
>> 2) Introduce the areas in which DMA is important (For example, Solvency II, MCEV, ALM, ERM, IFRS
>> 3) Describe how DMA can be linked to real expected management behaviour (including considerations around concepts such as the Use Test and Principles & Practices of Financial Management)
>> 4) Illustrate how improved modelling of DMA can, under some circumstances, materially influence calculated solvency
>> 5) Show how understanding DMA and its interactions with dynamic policyholder behaviour can improve a company’s enterprise risk management.

There is no need to register in advance for this event. Refreshments will be available from 5.30pm for a 6pm start. Following the meeting there will be a free drink and buffet at a nearby pub.