FCIA Wins Key Prize at ERM Symposium

John Manistre, left, receiving his award from David Fishbaum.
A CIA Fellow and a CIAnet subscriber were among the prizewinners honoured for their research papers at this year's Enterprise Risk Management (ERM) Symposium.

John Manistre earned the ERM Research Excellence Award in Memory of Hubert Mueller, and a $5,000 prize, for his paper "Down but not Out: A Cost of Capital Approach to Fair Value Risk Margins".

The award is given to the best overall paper at the symposium, which this year took place from September 29 to October 1 in Chicago, IL. It recognizes significant contributions to the growing body of ERM knowledge and research and is named for Hubert Mueller (1960-2009). The U.S. Actuarial Foundation's website pays tribute to him: "[Mr. Mueller] raised awareness of the importance of ERM across the insurance industry and promoted the role of actuaries in ERM. He was instrumental in founding the Joint Risk Management Section and was one of the first actuaries to receive the CERA designation. He is remembered as a great role model and friend. The ERM Research Excellence Award in Memory of Hubert Mueller is funded by contributions from Hubert's colleagues and friends throughout the insurance industry, as well as by Towers Watson. Contributions in memory of Hubert Mueller may be made online or via mail."

Mr. Manistre works as a research actuary at GGY Axis, having previously served as vice-president of risk research and vice-president of corporate actuarial at Aegon, among other roles. He graduated from the University of York (UK) in 1980 with a PhD, and holds the FSA, MAAA, and CERA designations besides his FCIA.

He was recognized along with CIAnet subscriber Carole Bernard, who shared the Professional Risk Managers' International Association (PRMIA) Frontiers in Risk Management Award. Ms. Bernard and her co-author Steven Vanduffel earned the $5,000 prize for their paper "A New Approach to Assessing Model Risk in High Dimensions".

The award is given by the PRMIA to recognize papers that strengthen ERM practice by opening new perspectives and strengthening current insights and methods.

Ms. Bernard, who thanked the CIA for its support, is an associate professor in the department of statistics and actuarial science at the University of Waterloo. Her co-author is a fellow academic, at Vrije Universiteit Brussel in Belgium.

Award winner Carole Bernard with PRMIA executive director Kevin Cuff.

Canadian Institute of Actuaries/Institut canadien des actuaires