Risk Management (ERM)
Working Group Minutes
March 18, 2005
1:00 p.m. Central Time
Bowen (Leader), Renee Cassell, Charlene Collins, Armand DePalo, Kevin
Dickson, Juan Kelly, Zenaida Samaniego, John Stark, Julie Young (SOA),
ERM Specialty Guide
We discussed Jenny’s March 9th e-mail regarding issues
that had been raised with respect to certain sections which Charlene had
We discussed the extent to which we should discuss COSO, how we should
characterize its presumed role, and what we should say about our views
regarding its actual value in ERM.
We agreed that we should keep the amount of COSO information that is
currently in the Specialty Guide. Charlene will add a few paragraphs at
the beginning of the COSO summary, to clearly position its role and our
views of its value.
ACTION ITEM: Charlene will submit the
additional text to Jenny for incorporation in the next version of the
We discussed Armand’s previous comment about legal council review
on the case studies; he was satisfied that as long as we were not divulging
any inside information, there should not be a problem.
Armand suggested that Tom Bakos could provide valuable feedback on the
ACTION ITEMS: Jenny will e-mail Tom Bakos
to let him know of our activities and give him the opportunity to provide
Jenny has been reluctant to submit the document for professional editing
when there is so much left to flesh out in substance. But the Specialty
Guide is scheduled to be presented at the May ERM Symposium, so we don’t
have the luxury of waiting any longer to get started.
ACTION ITEM: Jenny will contact Fred
Tavan to obtain the services of a professional editor.
ACTION ITEM: (All) Identify anything
in the document that needs more depth. Send your comments to Jenny by
March 24. It will be helpful if you could also volunteer to fill such
holes, either by providing the needed text or by finding some other
source that we can refer to or provide a link to. But please provide
your comments on what more is needed, whether or not you are volunteering
to help solve the problem. Remember to include the specific comments
in an e-mail, not the whole document with comments noted.
ACTION ITEM: Jenny will compile the comments
and send a memo out by April 1 to the entire RM Section, asking for
help to fill the gaps that are not already in the process of being filled.
April 14, 2005 at 1 p.m. Central Time.
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