The 2023 International Congress of Actuaries (ICA2023) brought together industry leaders and actuaries worldwide to explore the challenges and opportunities for actuaries. Over the years, SAS has emerged as a variance and regression analysis software, revolutionising the actuarial field. Since then, it has evolved into SAS Viya 4.0, a cloud-native
The reverberations of SVB’s collapse continue to be felt in the banking industry. Markets remain jittery and the negative news headlines keep coming. First Republic Bank had its credit rating downgraded into junk territory by S&P Global, causing its share price to plummet by 47 percent before rallying. On the
A customer's initial onboarding journey is often the most interaction they will ever have with a company. This series of touchpoints provide the applicant with their first insight into what being a customer will be like. Unfortunately, disjointed and unconnected processes often create gaps for customers to fall through or
With an industry skills gap upon us, an estimated 85% of Fortune 500 organisations are still looking for talent today. SAS remains committed to helping university students with SAS® skills gain work placement with SAS customers today – as they’ve done for over a decade. Westpac is Australia’s first bank
One of Warren Buffett’s most famous quotes goes like this: “Only when the tide goes out do you discover who’s been swimming naked.” That time is now for interest rate risk managers, who have been basking in the warm sea of declining interest rates for most of the last four
As the world moves toward a low-carbon future, the power and utilities industry faces significant financial and reputational risks due to the potential stranding of resources and assets. This transition to carbon-free energy sources could render carbon-intensive assets – such as coal- and gas-fired power plants, coal mines and hydrocarbon
Fraud remains a huge challenge for governments and inspectors at all levels, as fraudsters today are more successful than ever. Because many cases are so difficult to detect, there is tremendous potential for technologies such as analytics and AI to support investigations. The social inspectorates in Belgium have recently set
One of the reasons I got involved with the trustworthy AI movement is because automated systems enabled by our past will hurt people – at scale – if we aren’t careful. Worse yet, and from a personal perspective, it concerned me that if such systems were deployed in justice and
Con la llegada del nuevo año, también llegan nuevos riesgos y formas en que las organizaciones criminales buscan realizar diversos crímenes financieros, como los fraudes o lavado de dinero. El 2023 traerá tres principales tendencias en temas de crímenes financieros a las que las entidades de esta industria deberán ponerle
Las diferentes crisis locales y mundiales del presente siglo, al igual que las normas y mejores prácticas del mercado aplicadas y en vías de instaurar, han exhibido los retos del sistema financiero. Situado en el marco de un mercado creciente, competitivo, voraz, exigente e innovador, afianzado, en buena medida, por
La aplicación de NIIF 9 (IFRS, sus siglas en inglés), respecto a pérdidas crediticias esperadas (ECL, sus siglas en inglés), ha significado para las instituciones financieras desafíos importantes, los cuales se derivan de la propia naturaleza del estándar, basado en principios. Su esencia e iniciativa reside en poder estimar adecuada
Liv Boeree answers our questions about the game of poker – and life.
Los acontecimientos de los últimos años han cambiado radicalmente el panorama en el que se desenvuelven las empresas aseguradoras. La pandemia, las amenazas de una recesión económica, la inestabilidad de las cadenas de suministro, e incluso el conflicto entre Rusia y Ucrania han movido todas las piezas y acelerado la
It’s a challenging time to be a risk manager. The world is facing a global climate crisis, enduring the worst economic downturn since the great depression, war and a recovery period from a global pandemic. In addition to these challenges, changes in customer behaviour and expectations give financial services no
SAS가 하와이 호놀룰루 소재 리스크 관리 전문기업 가마쿠라(Kamakura Corporation)를 인수했다는 소식을 전해 드립니다. 가마쿠라는 은행, 보험사, 자산운용사, 연금 기금 등 광범위한 금융 기관들이 다양한 유형의 금융 리스크를 관리할 수 있도록 전문 소프트웨어, 데이터 및 컨설팅을 제공하고 있는 비상장기업입니다. 치솟는 인플레이션과 경기 침체가 세계 경제에 먹구름처럼 드리워지면서, 크고 작은 금융 서비스
Hace algunas semanas, el FMI (Fondo Monetario Internacional) pidió que se elevara la regulación y la supervisión de las entidades Fintech y de los llamados Neobancos con el fin de dar una mayor protección a consumidores e inversores expuestos a mayores riesgos en comparación con los bancos tradicionales. “Se necesitan
SAS' Bahar Biller reveals how simulations enable KPI generation, risk quantification, risk management and more.
COVID-related lockdowns around the world resulted in changes to the way that we work, study and live. Some of these changes were positive: better access to remote learning and working for those who want it, for example. However, there were other less positive developments, including a huge rise in cybercrime.
In this third article, we will introduce an alternative approach that surfaces the CMS-HCC Risk Adjustment Model execution through SASPy integration to a Flask application. We will demonstrate how this integration allows a user to score an individual patient/member on-demand, using inputs to an interactive web form to execute the model score code, surfacing the resulting score to the user.
The CMS-HCC Risk Adjustment models are used to reimburse Medicare Advantage plans based on the health status of the plans’ members. CMS-HCC Risk Adjustment is the practice of assigning a risk score based on demographics and diagnoses to an individual beneficiary of Medicare for the purpose of calculating an expected cost of care, relative to the average beneficiary. Accurate risk adjustment requires an accurate diagnostic profile of an individual on an annual basis, documenting diagnoses via submitted claims or within a provider's medical record.
Within both the business world and our personal lives, data is becoming increasingly intrinsic to everything we do. Whether it’s picking which restaurant to order from, a tailored advert or figuring out the quickest route home, data is a part of our everyday decision making. For businesses, the value of
One of the lesser-known effects of COVID-19 has been on analytical risk models. Around the world, the pandemic has created a new reality. The situation became so unpredictable that financial institutions’ risk models lost their ability to make accurate predictions. Past performance, it turned out, was very definitely not a
Our key workers deserve more than just a round of applause — so why do we still expect the people who have the least to pay the most for banking services? To most people, social justice and the banking sector probably seem like strange bedfellows. Over the past couple of
In 2020 alone, the global losses from natural disasters amounted to a staggering US$210 billion! This is just short of the 2020 GDP of Portugal, or a little more than twice the market cap of HSBC, Europe’s largest bank. The causes of these huge losses include drought-fuelled wildfires, severe floods
I’ve never seen so much evidence from within the insurance industry that we’re on the cusp of a fundamental change. Given the disruption we’ve witnessed over the last 12 months, and the level of uncertainty that persists, it’s very difficult to generalise and predict how the industry will change as
코로나19가 광범위하게 확산되면서 생산활동 중단, 소비 감소, 교역 감소 등 세계 경제에 심각한 타격이 이어지고 있습니다. 이 충격파를 최대한 완화하기 위해 각국 정부는 다양한 재정적 지원을 투입하고 있습니다. 그럼에도 대부분의 기업과 개인은 코로나19로 경제적 어려움을 겪고 있으며, 이로 인해 은행에서는 다음과 같은 과제에 직면하고 있습니다. 여신관리 코로나19의 영향을 가장 크고
We will use prescriptive analytics and optimization to select a stock portfolio that maximizes returns while taking risk tolerance into account.
Oggi i modelli di business nel settore bancario stanno cambiando: i modelli di internal rating sono stati a lungo sotto i riflettori, ma nuove tecniche di modellazione stanno già prendendo piede. Machine Learning e Intelligenza Artificiale sono nuovi elementi chiave che si aggiungono alle tecniche tradizionali per lo sviluppo dei
“Lo que sabemos es una gota de agua; lo que ignoramos es el océano”
