INARM

By Jean-Yves Rioux, FCIA

In the summer of 2009, the Enterprise Risk Management (ERM) Applications Committee of the Canadian Institute of Actuaries (CIA) asked members, who listed ERM as their primary or secondary area of practice, to participate in a Strengths, Weakness, Opportunities and Threats (SWOT) survey about actuaries and ERM. The results of the survey were compiled to form a consensus view related to the following:

1. As actuaries, how can we promote ourselves in the ERM arena (Our Strengths)?
2. What are the potential areas of improvement for actuaries related to ERM (Our Weaknesses)?
3. What are the foreseeable forces and trends that will impact actuaries wanting to compete as ERM specialists?

Twenty-three percent of the 103 members who were solicited to participate responded to our survey. The members of the ERM Applications Committee reviewed the results and are confident that the responses can be used to develop promotional material for the profession, and to make recommendations on potential areas of development for actuaries.

The following four, open-ended questions were asked of those surveyed:

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