The full article ‘Reducing Risk in Excel Modelling’ has now been published in the global Society of Actuaries (SOA) newsletter.
In this article I share the top 10 tips for how to reduce errors in excel modelling. Amongst other tips, it illustrates the importance of being transparent with key calculations and assumptions, when to use high-end models to verify more detailed models, how consistency makes it easier for the end user to understand and review a model and how to be flexible to allow assumptions to change. It also discusses how to asses team capability in order to decrease modelling risks by consulting professional service providers and implementing best-practice modelling standards.
Click here to read the full article on the SOA website.
Corality is a supporter of the Society of Actuaries and follow their commitment to education and research on actuarial trends, public policy issues and further expansion of the actuarial profession. The SOA vision is for actuaries to be a leading profession in the measurement and management of risk.
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