Welcome to ERM modeling! I am Steve Craighead and I want to take you on a journey to design and implement models for Enterprise Risk. Here we will discuss what ERM is, its model life cycle and demonstrate how to construct and/or use a wide varieties of models.
Steve Craighead is a Director and Actuary at Pacific Life Insurance Company. He is an expert in the fields of model efficiency and data compression. He has over 35 years of experience in various actuarial fields. His prior employers include Towers Watson Software Solutions, Nationwide Insurance, Ohio State University, Ohio State Life Insurance Company, and William M. Mercer.
He has conducted extensive research and software development regarding ERM, economic models, modeling efficiency, and firm insolvency.
Steve has published papers in the following areas: ERM, insolvency, risk, portfolio selection, optimization, graduation theory, term structure of interest rates, scenario generation using chaos/complexity theory, and applications of extreme value statistics in life insurance.
Steve is active in Society of Actuaries’ ERM and investment related industry committees. Currently, he is a member of the Committee of Financial Research. He previously served as the newsletter assistant editor for the Joint Risk Management Section global publication Risk Management magazine; Chair of the Investment Section Committee for Finance Research; and committee member on the Academy of Actuaries’ Modeling Efficiency Working Group.
Steve has a Master’s degree in mathematics from James Madison University and a B.S. in mathematics and physics from Emory and Henry College.
Steve is a Certified Enterprise Risk Analyst (CERA), an Associate of the Society of Actuaries (ASA), and a Member of the American Academy of Actuaries (MAAA).
His curriculum vita is here
Standards: Proof and verification Modeling doesn’t have to be limited to quantitative areas. Models can be qualitative. A good subject to illustrate this is the concept of a “professional standard”. This is a widely discussed topic, but I’m hoping to look at it from the perspective of looking at a relevant class of theoretical models, …
My name is Matt Powell and Steven has been kind enough to invite me to use his blog to share some thoughts on risk management and modeling. I am just going to try to share some takes on some topics that I think are interesting and that help circulate ideas across different disciplines. My background …
The website phys.org reported last week on a paper that addresses a enigmatic issue around downward causation. The enigma is where a higher organized state of an organism or organization can cause changes at the lower levels that make up the upper level. However, the argument that the higher level is temporary since …
My name is Steven Craighead and I can be reached by email at email@example.com.