Enterprise Risk Management
Risk Management (ERM) Working Group Minutes
Participants: Jenny Bowen (Leader), Renee Cassell, Charlene Collins, Dave Ingram, Suzanne Luck, Jim Ramenda, Zenaida Samaniego, Suzanne Wille, Julie Young (SOA)
Future Direction of the Working Group
Members of the Risk Management Section Council have discussed the desirability of creating a book using as starting point the best of our ERM Specialty Guide and the Final Report of the CAS Advisory Committee on ERM.
Pursuing a merger of this working group with the CAS Risk Management group does not really make sense now that the CAS has already merged with the SOA Risk Management Section. The CAS RM group was involved in many research activities, so its members can now join forces with SOA Section members to create or enhance specific research task forces. If any of the CAS members of the combined RM Section are interested in the activities of this working group, they can (and several already are) be members of this group. Likewise, any member of this working group can also participate in other research groups within the RM Section.Conclusion
The ERM working group will transform itself from a group that performs research and creates reports on the results, to a group that assists the RM Section in the following ways:
This group can come up with ideas for research that is needed and give them to Fred. We can also submit ideas for other things (besides research) that the RM Section could or should do. These ideas would come from our own and others’ experience with respect to help that currently is not available to solve real-world needs.
We can help the RM Section when there is work that needs to be done to explore general ideas or categories of ideas and then crystallize the results and prepare them for discussion with others. This would include preparing requests for proposals from outside professional resesarchers. Fred has already identified two documents that he would like for us to use as sources for recommendations.
We will have a conference call once a month, during which we will discuss ideas that members submit; agree on what is worth pursuing; and assign members to draft short, concise proposals which will be distributed to the group for comments. The end-products of our efforts will be recommendations to the RM Section Council.
Our Two Projects for the Immediate FuturePROPOSAL FOR THE NEXT GENERATION OF THE ERM SPECIALTY GUIDE
Members will review our ERM Specialty Guide and the Final Report of the CAS Advisory Committee on ERM. Our web page contains links to both of these documents.
Members will use our ERM Specialty Guide as a starting point and make lists of
Members will consider the backgrounds of people who might read this document; what should they get out of it and what should they do with it?
GENERATE REQUESTS FOR PROPOSALS FROM DOCUMENTS FRED SENT