Actuaries in Banking - Using the ORSA Structure as Guide to Communicate About ERM

The Own Risk and Solvency Assessment (ORSA) framework currently in use in the insurance industry is also an excellent framework for use in other industries as a summary ERM report to management. With actuaries moving increasingly into the banking sector, where ERM frameworks are at present less robustly developed, the ORSA can provide a coherent, tested, and robust approach to communicating with management about what ERM entails at a financial institution. I will share from my experience at doing exactly this over the last 2+ years and describe the results achieved in using the ORSA format at my institution.

  • Date:Monday, March 9
  • Time:5:00 PM - 5:50 PM
  • Location:Sunset
  • Session Type:Concurrent Session
  • Session Code:CS1
  • Audience Level:1
  • Learning Objective 1::Recall the structure of the NAIC's ORSA framework.
  • Learning Objective 2::Use as reference a working example of ORSA’s use in a non-insurance (banking) industry
  • Learning Objective 3::Adapt the ORSA format to their institution, regardless of industry
Bill Mech
Connexus Credit Union