The magazine of the actuarial profession

Risk & ERM

Measures of inflation under the microscpeColin Wilson and Chris Bull explain why actuaries  should be aware of the differences between the retail price index and the consumer price index 01 July 2012
Risk management: The next big thingMatthew Ball, Yi Jing and Landon Sullivan examine why quantifying risks from mass torts has lagged behind natural catastrophe modelling and how recent advances make it possible to prepare for the 'next asbestos' 01 July 2012
Live long and prosperJon Palin outlines a new structural model of mortality that takes into account the underlying drivers such as lifestyle trends 01 July 2012
Most companies 'underprepared for risk of volatility'A majority of bankers, insurers and asset managers are not confident that their company's business model is good enough to cope with unexpected levels of financial or economic volatility, according to a survey published today by SunGard. 27 June 2012
Philip Scott becomes president of the ProfessionPhilip Scott took office as president of the Institute and Faculty of Actuaries yesterday, replacing Jane Curtis, who held the post between June 2011 and June 2012. 26 June 2012
Threat from cyber risk 'is on the rise'Risk managers are increasingly concerned about the potential threat that cyber risks and information security breaches pose to their organisation, according to research published today by Marsh in conjunction with Chubb Insurance. 12 June 2012
East Asian countries 'need to work together to weather crises'East Asian countries need to work together to improve their individual and collective capacity to weather crises, the World Economic Forum said yesterday. 01 June 2012
Focus on financial literacy, not regulation, says ACA chairGovernment efforts to reinvigorate workplace pensions should focus on improving financial literacy, according to the outgoing chair of the Association of Consulting Actuaries, Stuart Southall. 01 June 2012
People moves round-upThe latest appointments and moves from the actuarial world 31 May 2012
Soapbox: Two sides of a risky coinA pragmatic partnership between actuarial approaches and risk management can benefit many businesses, says Cristina Martinez 31 May 2012

Page: [1] [2] [3] [4] [5] [6] [7] [8] [9] [10] [+11]

Enterprise risk management

Enterprise risk management (ERM) is generally accepted to be a wider subject than traditional risk management.

While traditional risk management focuses on identifying, measuring and monitoring risks to limit a company's losses, ERM recognises that businesses take risks to make a profit for their owners. It therefore attempts to strike a balance between too much risk and not enough risk in light of a business's strategy - making sure the risk-taking activities of the company are aligned with its objectives and its willingness, or otherwise, to take losses.

An ERM process will incorporate risk information into strategic planning, management decision making, product design and more.

Find out more