Enterprise risk management

Businesses and organizations are constantly faced with uncertainties brought on by the growth of competitors, market volatility, capital scarcity, and evolving legislation. In order for them to succeed while meeting the expectations of their stakeholders, they must manage these risks.

“Identifying, assessing, and managing risk to support strategic plans and goals”

Actuaries working in enterprise risk management (ERM) identify, monitor, and manage risks, with the goal of increasing value for an organization’s stakeholders. By applying their unique skills and expertise, actuaries working in ERM:

  • Create awareness of and deliver education about the risks that organizations may incur
  • Help organizations maximize profits, increase book value, and expand into new markets
  • Empower organizations to embrace opportunities and deliver on their promises

ERM does not apply to just financial risk, but rather to a wide variety of risk – including strategic, operational, and more. By bringing modelling techniques from other practice areas into ERM, actuaries are able to apply their skills in a new area and provide insights that may not be present from other disciplines.

Curious about how you can manage risks and reap the rewards?

The actuarial career path isn’t all about risk – it comes with a variety of rewards, too. From the opportunity to execute creative problem solving on new and interesting challenges to the opportunity to work with a tight knit group of professionals, actuarial careers are multi-faceted and intriguing. 

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