Chairperson’s Corner

By Daniel Klein

Risk Management, December 2023

Welcome to the Class of 2023-24! As I write this, the trees around me are at peak fall color as they change in preparation for the coming winter. At the SOA during the fall, professional sections, including the Joint Risk Management Section, wrap up one council term and start a new one. Early into this new council year, the JRMS looked in the mirror and noted the outstanding work all our volunteers did in the past year to further education and research in the area of risk management. We strive to deliver even more value to our section members this year.

Having to officially part ways with our outgoing council members inevitably means leaning in over the next few months to make up the lost ground. Thank you to the council members who have rolled off this year with the expiry of their three-year terms. Ariel Weis demonstrated outstanding leadership as the past chair through his dedication to fulfilling the council’s strategic initiatives, and I have learned much working alongside him. I also want to thank Vincent Chen and Maggie Ma, who put in countless hours to ensure critical projects were completed on time and successfully. Credit must also be extended to those not on the council who are integral contributors to JRMS’ success, including our Friends of Council who unselfishly volunteer their time with us. And we can’t forget the amazing work of SOA staff who make it all come together, most notably Katelyn Kramer, who has been a fantastic partner to the JRMS.

I want to welcome our new council members who officially came onboard at the SOA ImpACT Conference. They bring breadth of experience, and with them in place our council is even more representative of our section’s diverse actuarial membership. If you were able to attend the ImpACT conference in person, you would have noted the presence of the JRMS as we continued delivering relevant risk management content to actuaries. We aim to improve that footprint over the coming year.

So, what can you look for in 2024 that showcases the positive changes we’re implementing? Perhaps the most radical change you will see is how section dues are handled. Reflecting this new approach, our initiatives will be further aligned to our member’s needs through a greater focus on delivering value-added content. Our deep network of risk experts has been our secret weapon over the years, and the accelerating changes we’re seeing all around us means there will be ever more exciting topics to explore with those very experts.

Another change we are working hard on is to make the JRMS more responsive to our members and stakeholders. We conducted a member survey over the summer and learned about what topics our members are most interested in seeing, how they would like that content delivered, and how best we can stay connected to you. I invite you to engage with us and let us know how we can best serve you.

I have several requests of you: First, if you haven’t bookmarked our webpage, do it now. We have far more resources there than you may realize, including an e-library with access to an excellent library of curated books. Second, register and attend the amazing webcasts our team will put on throughout the year. Third, read the fantastic articles in this Risk Management newsletter and gain leading-edge knowledge. We publish them five times a year, and you can easily find articles going back almost 10 years (did I mention our amazing website?) Fourth, keep an eye out for the amazing research sponsored by the JRMS. And, finally, consider becoming a Friend of the Council. It gives you tremendous flexibility on how you engage with the JRMS.

Let’s get this show on the road!

Daniel Klein, FSA, FCIA, CFA, is the chair of the Joint Risk Management Section Council and head of actuarial at crypto-native insurance marketplace Nayms. He can be reached at daniel.klein.jrms@gmail.com.