ERM: a Growth Area for Actuaries? [4]

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Bullet points include: ERM is both qualitative and quantitative. Governance as well as modelling. E.g. much of the material on ERM on www.nematrian.com is quite qualitative. CERA emphasises ‘higher-order’ skills. Should help when interacting with senior management / Boards. Most individuals in ERM space or above are not actuaries. Most are not very quantitative (nor are most actuaries versus outright quants). Risk appetite: the quantum of risk that the firm is willing to accept within its overall capacity. Risk Appetite. Risk Capacity. Target Risk Profile. Actual Risk Profile

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