Topic: Primer on Enterprise Risk Management (ERM)
What is ERM and what does it mean to CAS members? These questions are the focus of the 2005 Discussion Paper Program. In addressing these questions, papers should include a practical illustration of either financial, operational, or strategic risk, and the evaluation of and integration of this risk with traditional hazard risk. For background on ERM risks (hazard, financial, operational and strategic), refer to "Overview of Enterprise Risk Management," by the CAS Enterprise Risk Management Committee, which was published in the Summer 2003 Forum.
Papers should also highlight skill sets that actuaries generally posses that contribute to this analysis as well as skill sets that actuaries are generally lacking but are required in performing this analysis.
Ideally, the Program will be a forum for exchanging ideas of practical value to current practitioners as well as to potential new users of ERM.
Accepted papers will be published in the 2005 Discussion Paper Program book and will be posted on the CAS Web Site. Authors will have the opportunity to present their papers at sessions scheduled during the CAS Spring Meeting in Phoenix, Arizona on May 15-18, 2005.
The 2005 Discussion Paper Program is managed by the Professional Education Policy Committee. The Committee encourages your participation in the Program. The results will contribute to the written body of knowledge of the CAS and to the success of the 2005 Discussion Paper Program.
To participate in the Discussion Paper Program, prepare and submit a proposal that includes a title and short description of your paper. The description should outline the key issues of your paper and the conclusions you intend to reach. It would be helpful if you could describe the methods you might use if the paper is to be technical in nature. This would give the reviewing committee the best possible opportunity to guide you in reaching the widest possible audience.
When a proposal is submitted, the Professional Education Policy Committee members do not know the name of the author as they decide to accept or reject the proposals. This is done to make sure the process is as fair as possible. You can help by omitting any references to companies or people in your proposal.
The general schedule for the 2005 Discussion Paper Program is as follows:
Deadline for Proposals
The proposals must be received by September 30, 2004. They should be submitted to:
Discussion Paper Chairperson
c/o CAS Office at firstname.lastname@example.org
Acceptance or Rejection of Proposals
By October end, the Professional Education Policy Committee will have reviewed each proposal and made a decision to accept or reject it. The Chairperson will contact each author regarding the Committee's decision.
Monitoring the Progress
Timely completion of the papers will be necessary so that all the papers can be made available to CAS members well before the 2005 Spring Meeting. The Chairperson will be in regular contact with each author and will provide general guidance in completing the paper. Please note that the papers should be prepared in accordance with the Research Paper Template. Additional guidance for the preparation of technical papers for publication is provided in the Guides for the Submission of Papers. It is hoped that the authors will also submit their papers for publication in the Proceedings; however, papers must be submitted separately to the Proceedings for independent consideration.
The Discussion Paper Chairperson must receive the completed paper and a 200-word abstract by December 20, 2004.
Approving the Completed Paper
Each paper will be reviewed and screened by the Professional Education Policy Committee. Occasionally, an initially accepted proposal may result in a paper that does not meet the minimum standards established by the Committee either due to relevance of material or quality of exposition. When that happens, some re-writing may be required, or the paper may not be included in the program.
Discussion of Papers
All authors will be invited and expected to discuss their papers at the sessions scheduled during the 2005 Spring Meeting in Phoenix, AZ. Authors will be contacted in advance of this meeting regarding the nature of the presentation and coordination with the program.
Preparation of Bound Papers
All accepted papers meeting the deadlines will be printed, bound, and distributed in advance of the meeting.
Michelbacher Prize Committee
The Michelbacher Prize Committee will review the submissions anonymously and decide upon the best paper by judging on the basis of originality, research, readability, completeness, and other factors. The Michelbacher Prize, in the amount of $1,500, will be awarded to the author of the best paper and presented at the 2005 Spring Meeting.