Purpose

• Provide guidance to actuaries on enterprise risk management, including the requirements of prudential supervision acts.
• Manage the Society’s involvement with the CERA treaty.
• Coordinate opportunities for New Zealand actuaries to upskill in Enterprise Risk Management.

Scope

• Create, review and update professional standards and guidance notes for actuaries working in Enterprise Risk Management.
• Advise on adherence to relevant professional standards and guidance notes when requested
• To be responsible to Council for (a) the strategic direction of the profession’s activities in the Enterprise Risk Management arena, and (b) supporting these activities.
• To identify and promote opportunities for actuarial involvement in the Enterprise Risk Management arena; to support and encourage the growth of actuarial involvement in the sector
• To represent the views of the Society in Enterprise Risk Management in legislation and related matters such as statutory reporting, risk measurement, regulation and current issues as they arise.
• To communicate and consult with members of the Society practicing in the Enterprise Risk Management area and the Council on matters relating to Enterprise Risk Management.
• To identify, in conjunction with the Education Committee, the education needs of students and actuaries working the Enterprise Risk Management area, including organising and/or actively promoting CPD opportunities in this area.
• To encourage research in areas relating to actuarial involvement in the Enterprise Risk Management area.
• Liaise with other committees to encourage and promote CPD opportunities.
• Liaise with committees of overseas actuarial bodies as necessary.

Manage the Societies activities in relation to the CERA treaty.