Banking Resources

Banking Resources

Banking is an emerging non-traditional practice area for the Canadian actuarial profession. This page lists a variety of resources collated by practitioners currently working in this area. Furthermore, the Getting into Banking section presents resources for those interested in learning more about how other actuaries have added value and developed careers in this emerging practice area.

General banking and risk management

Actuarial Techniques in Risk Pricing and Cash Flow Analysis for U.K. Bank Loans. Journal of Actuarial Practice, 1998.
Research that compares cash flow model based on actuarial principles to traditional pricing methods usually employed in bank lending.

Modeling Loss Given Default. Federal Deposit Insurance Corporation, 2018.
Research that investigates various loss given default statistical models’ performance with respect to predictive accuracy.

Practical Application Examples from the IAA Banking Webinar. IAA Banking Working Group, 2017.
Overview of the key risks encountered in banking along with an introduction to credit loss modeling

Banking regulations

IFRS 9 Financial Instruments and Disclosures. OSFI, 2016.
OSFI guidance to Federally Regulated Entities on the application of IFRS 9.

Capital Adequacy Requirements 2019. OSFI, 2019.
Canadian banking regulatory capital framework.

Basel III: International Regulatory Framework for Banks. Basel Committee on Banking Supervision, 2019.
The Basel III Standard is an internationally agreed set of measures designed to strengthen regulation, supervision and risk management of banks.

Getting into banking for actuaries

Opportunities for Applying Actuarial Techniques in Banking, July 2021
This paper discusses opportunities for the application of actuarial techniques in banking practice for actuaries. 

Actuaries in Banking: The South African Experience Webinar, March 31, 2021

The Banking Industry and Actuaries: Closing the Gaps, Seeing Beyond Risk article by Francis Truong, ACIA and Renée Couture, FCIA
With traditional banking models under increasing threat, the demand for actuarial expertise is growing. Many actuaries have the analytical know-how to be successful in banking – what often lacks is the support and public awareness to get there.

Actuaries in Banking, ASNA 2021 Session Recording
This session provides an overall view of non-traditional opportunities in key areas such as banking and quasi-banks where actuarial skills, knowledge, and concepts traditionally developed for more traditional financial organizations, can play a key role. The speakers provide real-life examples and discuss the possible education path leading to career paths in the banking world.

Banking Specialist International Handbook. Actuarial Society of South Africa, 2020. (Sign-up and Purchase Required)
Summary notes for banking actuaries and professionals based on tuition material from the banking fellowship examination offered by the ASSA.

How Actuaries are Innovating in the Banking Sector. IAA Banking Working Group, 2017.
Webcast by the IAA that explores how actuaries innovate in the South African banking sector. Presentation slides available here.

Case Study from the IAA Banking Seminar. IAA Banking Working Group, 2017.
Case studies on how actuaries could add value in the banking sector.

Actuaries in Banking. The Actuary, 2017.
Interviews of various actuaries currently practicing in banking.