2006 Seminar for the Appointed Actuary Colloque pour l’actuaire désigné 2006 2006 Seminar for the Appointed Actuary Colloque pour l’actuaire désigné 2006.

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Presentation transcript:

2006 Seminar for the Appointed Actuary Colloque pour l’actuaire désigné Seminar for the Appointed Actuary Colloque pour l’actuaire désigné 2006 Canadian Institute of Actuaries Canadian Institute of Actuaries L’Institut canadien des actuaires L’Institut canadien des actuaires

2006 Seminar for the Appointed Actuary Colloque pour l’actuaire désigné Seminar for the Appointed Actuary Colloque pour l’actuaire désigné 2006 PS-1: Are you on Board with Enterprise Risk Management??

2006 Seminar for the Appointed Actuary Colloque pour l’actuaire désigné Seminar for the Appointed Actuary Colloque pour l’actuaire désigné 2006 Agenda 1.Why Enterprise Risk Management? 2.Risk Pyramid 3.Structure and Processes 4.Risk Profile 5.Summary

2006 Seminar for the Appointed Actuary Colloque pour l’actuaire désigné Seminar for the Appointed Actuary Colloque pour l’actuaire désigné 2006 Why Enterprise Risk Management? 1.Consistent Methodology 2.Optimize use of capital 3.Decide on priorities 4.Share best practices 5.Improve Shareholder Value

2006 Seminar for the Appointed Actuary Colloque pour l’actuaire désigné Seminar for the Appointed Actuary Colloque pour l’actuaire désigné 2006 Risk Pyramid with Sub-Risks Less control and influence More control and influence Systemic Regulatory & Legal Competitive Strategic Reputation Operational CreditMarket Liquidity and Funding Insurance People Risk Process Risk Systems Risk External Risk Counterparty Risk Portfolio Risk Payments Risk Interest Rate Risk Foreign Exchange Risk Equity Risk Claims Risk Policyholder Behaviour Risk Expense Risk Commodity Risk Underwriting Risk Illiquid Markets Risk

2006 Seminar for the Appointed Actuary Colloque pour l’actuaire désigné Seminar for the Appointed Actuary Colloque pour l’actuaire désigné 2006 Structure and Processes 1.Development of Framework 2.Risk Committees 3.Risk Reporting 4.Centralized / De-centralized 5.Organization Chart

2006 Seminar for the Appointed Actuary Colloque pour l’actuaire désigné Seminar for the Appointed Actuary Colloque pour l’actuaire désigné 2006 GRM Organization Chart Chief Risk Officer Senior Vice President & Chief Compliance Officer Senior Vice President Risk Management, UK Senior Vice President Credit Senior Vice President Special Loans Senior Vice President Actuarial & Insurance Risk Management Chief Credit & Risk Officer RBC Centura Bank Vice President Portfolio Management & Credit Strategy Vice President Risk–Canadian Personal & Business Clients Senior Vice President Market & Trading Credit Risk Senior Vice President Risk Policy & Portfolio Management Senior Vice President Credit

2006 Seminar for the Appointed Actuary Colloque pour l’actuaire désigné Seminar for the Appointed Actuary Colloque pour l’actuaire désigné 2006 Risk Profile 1.Rating Agency Target 2.Economic Capital 3.Earnings Volatility 4.Tail of Distribution

2006 Seminar for the Appointed Actuary Colloque pour l’actuaire désigné Seminar for the Appointed Actuary Colloque pour l’actuaire désigné 2006 Summary 1.Brand Value 2.Shareholder Value