Enterprise and Financial Risks
Committee Overview
The Committee -
Identifies and manages areas of research to:
- support the establishment of an actuarial framework for Enterprise Risk Management
- develop actuarial methodologies for measuring and managing Financial Risks
Formulates views of the SA actuarial profession on matters of concern to the profession in the fields of Enterprise and Financial Risk to SA institutions;
Co-operates with other ASSA Committees, particularly the Health, Pensions, Short Term Insurance, Long-Term Insurance and Investment Committees, in considering issues of joint concern, to ensure a co-ordinated approach in providing guidance to actuaries and formulating an actuarial process to risk assessment;
Promotes and encourages the development of actuarial skills in financial risk within the actuarial profession in South Africa,
Makes recommendations, wherever appropriate, to the ASSA Education Committee on subjects related to financial risk;
Maintains contact with the appropriate Committee(s) of the International Actuarial Association and develop and maintain contact with AFIR (the Financial Risk Section of the International Actuarial Association);
Liaises with other professional bodies on enterprise and financial risk related issues. e.g. IRMSA, PRMIA and GARP; and
Provides input to regulators on enterprise and financial risk management issues. This includes the implementation and management of the Basel 2 Accord for banks, as well as consistent legislation for insurers.