ACSC 533 Lecture Notes - Lecture 14: Credit Risk, Cash Flow, Operational Risk
20 Mar 2018
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Document Summary
Howard j. bolnick 1998-99 president of the society of actuaries wrote to sustain a vital and vibrant actuarial profession for the north american actuarial journal in 2000. Bolnick discusses the role actuaries play in countering problems that can cause market failure (blonick, 2000, p. 19) While his discussion is in the context of insurance markets, the article also addresses actuarial applications in non-insurance financial institutions. Actuaries balance the interest of the benefit provider with the security of benefits for the. Trust is essential to the success of an industry, company, organization (earned and warranted) There are similarities in how actuarial concepts are applied across all. The actuary balances the interests of customers and interests of owners and therefore promotes the element of trust. We have discussed financial security programs including an overview of the typical providers and distributors of fss products and plans. Actuaries usually align themselves with one main area of practice.
