ERM Insights for SAAX group [5]

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Bullet points include: ERM is both qualitative and quantitative. Later exams in actuarial syllabus develop ‘higher-order’ skills; helpful when interacting with senior management / Boards. Most individuals in ERM space are not actuaries. Most are not particularly quantitative (neither are most actuaries versus out-and-out quants!). Resources on www.nematrian.com. E.g. lecture slides, research, online tools. 1. Identifying issues, setting context, 2. Assessing key risk areas, 3. Measuring likelihood and impact, 4. Ranking risks, 5. Setting desired results, 6. Developing options, 7. Selecting a strategy, 8. Implementing the strategy, 9. Monitoring, evaluating and adjusting

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