Presentations

Below you will find handouts for the 2010 ERM Symposium, held April 12–15, in Chicago IL. Please note that some sessions have multiple handouts from different authors/presenters. Some handouts are not available for certain sessions. The recordings will be available after the Symposium.

Monday, April 12, 2010

9:15 a.m. – 4:30 p.m.

Seminar 1-ERM Fundamentals and Practices
Moderator: Frank Sabatini, Sabatini Advisory Services, LLC
Presenters: Howard Rosen, Standard & Poors; Craig Raymond, John Hancock Financial Services; Kevin Madigan, Pinnacle Actuarial Resources, Inc.; Sim Segal, SimErgy Consulting LLC; Terri Dalenta, Aviva North America; Edward Grau, Accenture

Seminar 2-ERM Model
Moderator: David Schraub, Aviva USA
Presenters: Alexander Shipilov, TD Bank Financial Group; Simon Vaysman, TD Bank Financial Group; Mark Scanlon, Towers Watson; Sylvie Hulin, Deloite Consulting LLP; Theresa Resnick, Allstate Financial; Tony Dardis, Barrie & Hibbert Inc.

Seminar 3-Banks and Insurers: Separate Paths, but a Common Destination
Moderator: Robert Mark, Black Diamond Risk Enterprises
Presenters: Gary Nan Tie, Traveler’s; Max Rudolph, Rudolph Financial Consulting LLC; Tom Hettinger, EMB LLC; Dave Ingram, Willis Capital Management; Lawrence Moews, Transamerica Reinsurance; Dan Rosen, R2 Financial Technology; Alla Gil, Novantas; Prodyot Samanta, ThirdEye RiskInsights

Tuesday, April 13, 2010

8:00-9:30 a.m. General Session 1

Regulatory Reform – Systemic Risk, Risk Governance, Transparency
and Capital Changes

Listen to Presentation
Moderator: Steve Lindo, PRMIA
Presenters: Colin Lawrence. Financial Services Authority; Terri Vaughan, National Association of Insurance Commissioners; Allan Medolwitz, Federal Housing Finance Board

10:00–11:15 a.m. Concurrent Sessions 1

1A – A Practical Guide to Creating a Leading Practice Risk Appetite Statement (G)
Listen to Presentation
Moderator: Tom Fineis, Deloitte Consulting LLP
Presenters: Mike Batty, Deloitte Consulting LLP; Terri Dalenta, Aviva North America

1B – Identification of Emerging Risk Using Bayesian Conditional Probability (I)
Listen to Presentation
Moderator/Presenter: Jeff Vernor, Russell Investment Group
Presenters: Soubhagya Parija, Sterling Jewelers Inc.; Russell McGuire, Alliance Data Systems

1C – Quantifying Operational and Strategic Risks: An Advanced, Yet Practical Approach (DM)
Listen to Presentation
Moderator: Maryellen Coggins, PriceWaterhouseCoopers LLC
Presenters: Sim Segal, SimErgy Consulting LLC

1D – How Do We Impact Decision Making? (DM)
Listen to Presentation
Moderator: Kevin Madigan, Pinnacle Actuarial Resources, Inc.
Presenters: Carl Spetzler, Strategic Decisions Group; David Wong, CME Group

1E – Managing Liquidity (M)
Listen to Presentation
Moderator/Presenter: Paul Haley, Genworth
Presenters: Joe Rafson KPMG; Peter Marshall, Ernst & Young LLP

1F – Agent-Based Models: ERM-Related Applications (R)
Listen to Presentation
Moderator: Wayne Fisher, ERMII
Presenter: Rick Gorvett, University of Illinois at Urbana-Champaign

1G – Roundtable: Risk Appetite (CR)
Facilitators: Francis Bernardi, AAA Life Insurance Company; Todd Henderson, Western & Southern Financial Group

11:45 a.m.–1:00 p.m. Concurrent Sessions 2

2A – Risk Governance (G)
Listen to Presentation
Moderator/Presenter: Paul Horgan, Price Waterhouse Coopers
Presenter: Gaurav Kapoor, MetricStream

2B – The Keys to Successful Risk Identification (I)
Listen to Presentation
Moderator/Presenter: Sim Segal, SimErgy Consulting LLC

2C – Modeling Tail Events (Q)
Listen to Presentation
Moderator: David Schraub, Aviva USA
Presenters: Andrew Wunsch, Allstate; Luang Fu, State Auto Insurance Companies

2D – Making Better Decisions Using ERM (DM)
Listen to Presentation
Moderator/Presenter: Max Rudolph, Rudolph Financial Consulting, LLC
Presenter: James Ramenda, Northington Partners Inc.
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2E – Model Risk (M)
Listen to Presentation
Moderator/Presenter: Jeffrey Klanderman, KPMG
Presenter: John Esch, Allianz Life Insurance Company of North America; Thomas McIntyre, Towers Watson

2F – What went wrong? Risk Management Lessons from the Crisis (G)
Listen to Presentation
Moderator/Presenter: Neil Strauss, Neil T. Strauss Associates, LLC
Presenters: Jeffrey Brown, Promontory Financial Group; Melissa Van Hees, Ore Hill Partners

2G – Call for Paper Session: Behavioral Risk Management (CR)
Listen to Presentation
Moderator: Fred Tavan
Presenters: Dave Ingram; The Human Dynamics of the Insurance Cycle and Implications for Insurers
Russell Sears; The Fundamental Law of Risk Evaluation (FLoRE)
Adam Wadecki; The Economics of Enterprise Risk Management

2:00–3:15 p.m. Concurrent Sessions 3

3A – Successes and Challenges in Integrating an Economic Capital Allocation and Risk/Return Framework (G)
Listen to Presentation
Moderator: Thomas McIntyre, Towers Watson
Presenters: Anand Borawake, TD Bank Financial Group; Drew Golfin, The Hartford; Steve Verney, Allstate Insurance Company

3B – The Use of Risk Models in Risk Identification (I)
Listen to Presentation
Moderator: Robert Wolf, Society of Actuaries
Presenter: Tom Hettinger, EMB America LLC; Parr Schoolman, Aon Benfield

3C – Counterfeit and Tampering Risk Modeling for Pharmaceuticals (Q)
Listen to Presentation
Moderator: Barry Franklin, Towers Watson
Presenters: Christopher Bohn, Aon Consulting; Eric Stocker, Genentech

3D – Reports from the Trenches (DM)
Listen to Presentation
Moderator: Kevin Madigan, Pinnacle Actuarial Resources, Inc.
Presenters: John Beckman, CNA Insurance Companies; John Wengler, Entergy

3E – A Practical Implementation of Solvency II and its Application to Decision Making (DM)
Listen to Presentation
Moderator: Rurik Magos, GNP
Presenter: Irma Medina, KPMG

3F – Research Paper Session: Holistic Approach to Setting Risk Limits: ERM for the Masses (R)
Listen to Presentation
Moderator: Wayne Fisher, ERMII
Presenters: John Burkett, FCAS, MAAA, PhD Jennifer Cheslawski, ACAS, MAAA Gerald Kirschner, FCAS, MAAA Timothy J Pratt, FIAA, MAAA Diana Rangelova, Member, French Institute of Actuaries
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3G – Roundtable: Risk Culture/Governance (CR)
Facilitators: Timur Gok, Northern Illinois University; Jenny Bowen, Swiss Re

3:45–5:00 p.m. Concurrent Sessions 4

4A – ERM and Regulatory Reform (G)
Listen to Presentation
Moderator: Nancy Bennett, American Academy of Actuaries
Presenter: David Sandberg, Allianz Life Insurance Co of North America

4B – Developing an Emerging Risk Strategy
Listen to Presentation
Moderator/Presenter: Max Rudolph, Rudolph Financial Consulting LLC
Presenter: Beverly Barney, Prudential Insurance Company

4C – Economic Capital – Making it Happen (Q)
Listen to Presentation
Moderator: Curt Burmeister, Algorithmics
Presenters: Mike Dorsel, AEGON USA Inc; Patricia Matson, Deloitte Consulting

4D – Creating Value through ERM: Integrating Risk and Performance Management (DM)
Listen to Presentation
Moderator: Alexander Shipilov, TD Bank Financial Group
Presenters: Aaron Halpert, KPMG Actuarial Services; Chris Nyce, KPMG LLP

4E – Managing Risk (M)
Listen to Presentation
Moderator/Presenter: Kreg Weigand, KPMG
Presenters: Brian Rhodes, Quantitative Risk Management; France Panneton, Sun Life; Giselle Lim, Prudential

4F – ERM for the Smaller Company (G)
Listen to Presentation
Moderator: Phil Ferrari, SMART Business
Presenters: Ellen Walsh, PriceWaterhouseCooper; Michael Leboeuf, SMART Business Advisory and Consulting; Tim Kelly, Country Financial

4G – Call for Paper Session: A Quantitative Perspective on ERM (CR)
Listen to Presentation
Presenters: Edward Sun; Monitoring Intra-daily Market Risk: New Development of Value at Risk Method
B. John Manistre; A Cost of Capital Approach to Extrapolating and Implied Volatility Surface
Gary Venter; Advances in Modeling of Financial Series

Wednesday, April 14, 2010

8:00-9:30 a.m. General Session 2

Chief Risk Officers – ERM Challenges, Successes, Communication
and Evolution in the Wake of the Financial Crisis

Listen to Presentation
Moderator: TBD
Presenters: David Li, China International Capital Corporation Beijing; Anurag Saksena, Freddie Mac; Sean Ringstead, ACE; Michael Stramaglia, Sun Life Financial

10:00–11:15 a.m. Concurrent Sessions 5

5A – Integrating ERM and Incentive Compensation (G)
Listen to Presentation
Moderator/Presenter: Karen DeToro, Deloitte Consulting LLP
Presenter: Bill O’Connor, Deloitte Consulting LLP

5B – Risk Identification- The Human Element (I)
Listen to Presentation
Moderator/Presenter: Dave Ingram, Willis Re Inc
Presenter: Michael Thompson

5C – Investment and Reinsurance Counterparty Risk (Q)
Listen to Presentation
Moderator/Presenter: Stuart Hayes, Towers Watson
Presenters: Perry Mehta, Moody’s Analytics, Charles Andrews, PricewaterhouseCoopers

5D – Risk- Based Decision Making – Incorporating Risk Management into the Investment Process (DM)
Listen to Presentation
Moderator: Curt Burmeister, Algorithmics
Presenters: Andrew Aziz, Algorithmics; Mark Prindiville, Allstate

5E – Balancing Value Creation with Risk Management (M)
Listen to Presentation
Moderator/Presenter: Jason Alleyne, GGY
Presenters: Frank Zhang, Ernst & Young; Eric Clapprood, Deloitte Consulting LLP

5F – Risk Aggregation Leading to Risk Appetite (Q)
Listen to Presentation
Moderator: Howard Rosen, Standard and Poor’s
Presenters: Basil Rabinowitz, Assurant, Inc.; Matthew Peters, Allstate; Sim Segal, SimErgy Consulting LLC

5G – Call for Papers Session: Alternative Approaches to ERM (CR)
Listen to Presentation
Moderator: Al Weller
Presenters: Neil Allan; Phylogenetic Approaches
Neil Bodoff; Discarding Risk Avoidance and Embracing Risk Optimization: Managing Reinsurance Credit Risk
Noel Harewood; Rethinking Fixed Deferred Annuities: Applying a Risk-Based Economic Value Approach

11:45 a.m.–1:00 p.m. Concurrent Sessions 6

6A – Creating a Risk Management Culture (G)
Listen to Presentation
Moderator: Frank Sabatini, Sabatini Advisory Services LLC
Presenters: Michael Rasmussen, Corporate Integrity, LLC; Norman Marks, SAP

6B – Identifying the Operational Failures Underlying the Global Financial Crisis (I)
Listen to Presentation
Moderator: Robert Wolf, Society of Actuaries
Presenter: Ali Samad-Khan, Stamford Risk Analytics LLC

6C – (ECMs) and Stress/Scenario Testing: External Reviews and Independent Validation (Q)
Listen to Presentation
Moderator/Presenter: Maryellen Coggins, PricewaterhouseCoopers
Presenter: Raj Guttha, A.M. Best

6D – Property Catastrophe Risk Management and its Implications for ERM (DM)
Listen to Presentation
Moderator/Presenters: Kevin Madigan, Pinnacle Actuarial Resources, Inc.
Presenters: John Tierney, Karen Clark & Company; Nathan Schwartz, TigerRisk Partners

6E – Embedding ERM – Setting a Risk Appetite (G)
Listen to Presentation
Moderator/Presenter: Eric Simpson, Towers Watson
Presenter: Gilbert Korthals, GuideOne Insurance; Linda Chase – Jenkins, Towers Watson

6F – The Value of Operational Hedges in Enterprise Risk Management (R)
Listen to Presentation
Moderator: Wayne Fisher, ERMII
Presenter: John Birge, University of Chicago

6G – Roundtable: Modeling Issues (CR)
Facilitators: Mark Scanlon, Towers Watson; Andy Wunsch, Allstate Insurance Company

2:30-3:45 p.m. General Session 3

Ask the Experts
Listen to Presentation
Moderator: Frank Sabatini, Sabatini Advisory Services, LLC
Presenters: Howard Rosen, Standard and Poor’s; Ian Farr, Towers Watson; Prakash Shimpi, Towers Watson; Robert Mark, Black Diamond Risk Enterprises; Tom Hettinger, EMB LLC

Thursday, April 14, 2010

8:30 a.m. – 5:30 p.m.

Seminar 4-Modern ERM: The New Risk Management Paradigm
Presenters: Ali Samad-Khan, Stamford Risk Analytics; Barry Franklin, Towers Watson