Discover and read the best of Twitter Threads about #ils

Most recents (4)

#Incident reporting should follow & precede #riskmanagement?
The two are slightly different areas of specialization
in the office environment.
It is akin to the debate between #reliability and #safety.
Both are contrasting concepts in organizational #resilience studies.
They are certain leading businesses including big banks that have separated incident reporting desks from risk management co-ordination cells.
Actually, incidents are events which require an eye and a taxonomy for recognition.
Coding outcome events into loss database is essential
The most difficult area in financial risk management was the coding of operational risk incidents or potential events having adverse negative probabilistic outcomes, which can yield material quantifiable losses in the financial statements.
@BIS_org changed the AMA RiskMetrics
Read 13 tweets
2. We often forget about legacy data or de-prioritize the impact of changes in data management practices. RDA brought about many data changes. While most of those are not significant as they do not deal with formatting of data, some do change the expectation for data.
3. Any variation in expected data (e.g., 260 vs. 264) can cause issues. An 007/008 expectation for media or 336-338 fields which may not appear in older records. You can't build facets and search parameters on what doesn't exist.
4. Other changes in practice impact #ILS migration, too, such as the preference of a single record for all formats. That really was a workaround for ILS who couldn't aggregate or FRBRize data displays for formats. #migration #systems #data #metadata #cataloging #ILS
Read 14 tweets
#Actuarial Risk Management of Pension Funds is a highly specialized field.
This work needs both knowledge and understanding of #Actuarial #Mathematical Methods and #Financial Risk Models.
#LDI (Liability driven investing) & CDI(Cashflow Driven Investing) have unique feature risks
Also, #ILS Insurance-Linked Securities and ART Alternative Risk Transfer Products are other asset classes which need a new set of risk management skillsets, which includes both actuarial maths and an enhanced understanding of NAT CAT Events with combined effects.
Actuaries and Risk Managers must master the craft and science of side-pocket investing in the Insurance Securities Market based on Risk Transfer Methods applied.
Read 6 tweets
NEW PAPER OUT. In this paper forthcoming in the International Labour Review I examine the personal scope of ILO Standards - THREAD 👇🏼papers.ssrn.com/sol3/papers.cf… #ILO #ILS #platformwork #domesticwork #informalwork #C189
A common misconception is that ILO Standards only apply to people in a employment relationship since this was the common lynchpin for labour rights during the 20th century in most industrialized countries, and the ILO is mistakenly assumed to follow suit
Instead, if we look at the travaux préparatoires of the Standards we often find that constituents frequently intended them to cover workers beyond the standard employment relationship. This is often confirmed by the works of the ILO Supervisory Bodies. A prominent example are 👇🏼
Read 11 tweets

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