The Australian Superannuation Guarantee Levy system (SGL) and the Age Pension are linked through the income and asset test of the Age Pension system. Variations in likely demands for full or partial Age Pensions will occur as variations occur in the amount of retirement benefits that members of...

Human capital risk permeates all other risks in a financial institution as was evidenced by the global financial crisis and subsequent events, but anecdotal evidence suggests this overriding risk was not well understood. The authors applied for and were successful in obtaining a grant from the...

This paper presents the results of a pilot survey of recent graduates of some Australian university actuarial programs. The survey aimed to shed light on graduates' views relating to their education since leaving university. The survey that we report on here has been designed as a pilot to...

Traditionally, financial risk management has mainly focused on the types of risk that can be identified and measured. Many actuarial and statistical theories and models have been developed in the past, to quantify such risks. However, high-profile events such as Black Monday, the Asian financial...

The Council of Superannuation Custodians (2013) indicated that one of the objectives of the Superannuation Guarantee Levy (SGL) was to relieve pressure on the cost of the Age Pension system. This paper uses a life cycle approach together with a model that introduces volatility in the drivers...

In this paper, we use a systems-based analysis to identify the systemic drivers of individual bankruptcies in Australia and compare the results with a similar analysis of global corporate credit defaults that found uncontrollable factors were significant. We include both macro-economic factors...

Heavy tailed distributions have been observed for various financial risks and papers have observed that these heavy tailed distributions are power law distributions. The breakdown of a power law distribution is also seen as an indicator of a tipping point being reached and a system then moves...

Operational risk events in banks include extreme events with significant losses being incurred and with substantial impact on share prices. A pooling arrangement between banks that would be able to reduce overall costs and reduce share price impacts would seem desirable, but one of the major...

The world economy has been shown to be a complex adaptive system with the consequence that companies within the global economy are constantly needing to react to influences from the activities of other companies with which they are interconnected and external influences. This paper uses a...

The World Economic Forum (WEF) recognises in their recent global risk reports the need to better understand the dynamics of the global economic system, and in particular the interconnectedness in the system in order to better appreciate the possibility of both single and multiple risk events...