Industry Insights and Practical Changes

This session will focus on gleaning key industry insights from the recent SOA survey, “Actuarial Model Governance: A Survey of Actuarial Model Governance and the Industry Evolution”. This session will focus on where the survey improves understanding of the practical, successful and developing solutions around Actuarial Model Governance structures and evolution. Solution implementation varies by plan, size and external pressures but the end-state objective is the same. The findings will be emphasized with some observations relative to successful implementations, common pitfalls and the best way to start governance frameworks or re-invigorate floundering governance procedures.

Thomas Chamberlain, ASA, MAAA
Senior Manager
Deloitte Consulting
Chicago, IL

Tom has 20 years of experience as an actuary. He has worked in both the Pension and Life Insurance disciplines. He is currently a leader of the internal Deloitte Consulting technical team that analyzes and interprets new guidance across capital and financial reporting frameworks. Tom assisted in the development of the 2016 SOA refresh of the 2012 report “Actuarial Modeling Controls: A Survey of Actuarial Modeling Controls in the Context of a Model-Based Valuation Framework” to evaluate the four year change in actuarial model controls and governance structures. This report also proposes enhancements to the current state to continue the industry evolution toward a well-controlled governance framework.