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  #11  
Old 02-14-2018, 01:33 PM
ActuarialProfessional ActuarialProfessional is offline
 
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Originally Posted by jas66Kent View Post
Wait,

She is seriously asking you to review and validate a capital model you have never seen yet?

How much experience do you actually have?
She wants me to help out, presumably her and her team will offer help and guidance, I just wanted to do some of my own research in advance, that's all.
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  #12  
Old 02-14-2018, 01:37 PM
jas66Kent jas66Kent is offline
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She wants me to help out, presumably her and her team will offer help and guidance, I just wanted to do some of my own research in advance, that's all.
Other than possibly doing simple tasks to take some of the load off the team, this kind of thinking rarely works unless you have previous experience in capital modelling.

Keep in mind that if they are truly that busy, training and explaining you to do X is just going to make their situation worse.
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  #13  
Old 02-14-2018, 01:44 PM
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Other than possibly doing simple tasks to take some of the load off the team, this kind of thinking rarely works unless you have previous experience in capital modelling.

Keep in mind that if they are truly that busy, training and explaining you to do X is just going to make their situation worse.
Which is exactly why I'm trying to do some of my own research beforehand, and I thought there might be some people out there who might be able to point me in the right direction when it comes to the practical hands-on elements. I have the theoretical knowledge without the actual practical experience, that's all. So with the former, I will be able to understand and quickly pick up the latter. Thanks for your help though!
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  #14  
Old 02-14-2018, 01:45 PM
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Which is exactly why I'm trying to do some of my own research beforehand, and I thought there might be some people out there who might be able to point me in the right direction when it comes to the practical hands-on elements. I have the theoretical knowledge without the actual practical experience, that's all. So with the former, I will be able to understand and quickly pick up the latter. Thanks for your help though!
The models vary from company to company. Without knowing much about the specific model your company uses, we won't be able to help you except by just telling you to become familiar with the model.

If I were you, I'd try to go over the assumptions of the model in the documentation created by the team (hopefully).
Go over the structure (pieces that make the ECM) to become familiar with the model overall, then dive into each segment (reinsurance, asset, business line, etc).
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  #15  
Old 02-14-2018, 01:48 PM
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The models vary from company to company. Without knowing much about the specific model your company uses, we won't be able to help you except by just telling you to become familiar with the model.
I appreciate that. I guess I was hoping to hear about others' experiences with whatever models they've used themselves. Never mind.
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  #16  
Old 02-14-2018, 01:59 PM
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Which is exactly why I'm trying to do some of my own research beforehand, and I thought there might be some people out there who might be able to point me in the right direction when it comes to the practical hands-on elements. I have the theoretical knowledge without the actual practical experience, that's all. So with the former, I will be able to understand and quickly pick up the latter. Thanks for your help though!
I sure hope you know what you're getting into.
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  #17  
Old 02-14-2018, 02:02 PM
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By "review parameters" I'm assuming there is an underlying model that is being used by your company to do the parameterization for different parts of the model (loss distribution, etc), and your team probably wants you to "review" the output results from the economic capital model and if something doesn't look right, then the team is going to have to go back and calibrate the underlying model and/or the ECM itself.

My best advice is ask one of the team members, if he/she could allocate some time to give you a general overview of how the model works.

Good luck.
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  #18  
Old 02-14-2018, 04:07 PM
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Which is exactly why I'm trying to do some of my own research beforehand, and I thought there might be some people out there who might be able to point me in the right direction when it comes to the practical hands-on elements. I have the theoretical knowledge without the actual practical experience, that's all. So with the former, I will be able to understand and quickly pick up the latter. Thanks for your help though!
There probably are people who can help, but your question is so wide ranging that we don't know where to start. You've essentially asked "how can i learn everything a team of 5 people does in 2 days?". And, you know, you can't. So what is it - specifically- that you need to know?
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  #19  
Old 02-14-2018, 04:38 PM
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Originally Posted by ronaldy27 View Post
The models vary from company to company. Without knowing much about the specific model your company uses, we won't be able to help you except by just telling you to become familiar with the model.

If I were you, I'd try to go over the assumptions of the model in the documentation created by the team (hopefully).
Go over the structure (pieces that make the ECM) to become familiar with the model overall, then dive into each segment (reinsurance, asset, business line, etc).
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  #20  
Old 02-14-2018, 04:39 PM
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Originally Posted by ronaldy27 View Post
My best advice is ask one of the team members, if he/she could allocate some time to give you a general overview of how the model works.

Good luck.
Yeah. Offer to do it over lunch - you buy.
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Pluto is no longer a planet and I am no longer an actuary. Please take my opinions as non-actuarial.


My latest favorite quotes, updated Apr 5, 2018.

Spoiler:
I should keep these four permanently.
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JMO is right
Quote:
Originally Posted by campbell View Post
I agree with JMO.
Quote:
Originally Posted by Westley View Post
And def agree w/ JMO.
Quote:
Originally Posted by MG View Post
This. And everything else JMO wrote.
And this all purpose permanent quote:
Quote:
Originally Posted by Dr T Non-Fan View Post
Yup, it is always someone else's fault.
MORE:
All purpose response for careers forum:
Quote:
Originally Posted by DoctorNo View Post
Depends upon the employer and the situation.
Quote:
Originally Posted by Sredni Vashtar View Post
I feel like ERM is 90% buzzwords, and that the underlying agenda is to make sure at least one of your Corporate Officers is not dumb.
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