Enterprise Risk Management for Actuaries for 2013 and Beyond

Michael Schmitz is a principal and consulting actuary in the Milwaukee office of Milliman and has been with the firm since 1993. Mike manages a practice dedicated to financial risk such as mortgage guaranty, financial guaranty and credit enhancement products.

Mike has assisted in structuring and pricing credit enhancement mechanisms for securitizations, both in the United States and internationally, and has spoken at conferences on this topic as well as others. He has also served as the lead consultant on many assignments, assisting the largest banks in the United States in their management of credit risk. Mike has assisted both banks and insurance companies in analyzing the risk associated with residual value exposure on several classes of assets. In addition to working with financial guaranty insurers, he has consulted to the majority of the insurers that comprise the private mortgage insurance industry and to banks and other financial institutions on topics including reserving, pricing, financial analysis, mortgage portfolio credit risk, product development, structured transactions, risk transfer analysis and capital model design and validation.

Elisabetta is a qualified P&C actuary with 15 years of experience. She joined Deloitte in November 2011 to lead Deloitte’s insurance solvency practice in the United States dealing in particular with issues relating to Solvency II and the Solvency Modernization Initiative (SMI). Prior to the USA, she served for 5 years as Head of Actuarial, Insurance, Risk and Capital in Central Eastern Europe (CEE) in another Big Four organization and the previous 10 years in London (UK). She was a member of that firm’s Solvency II Steering Committee for Europe, advising the largest European insurance groups on all 3 pillars (capital assessment, ERM&ORSA, risk reporting). She has also worked with several insurance regulators. She is a Fellow of the Institutes of Actuaries in the UK, Italy and Russia.

R. Timothy Muth is a litigation shareholder at Reinhart, Boerner, Van Deuren in Milwaukee, Wisconsin where he leads the firm’s financial litigation group. Muth also co-chairs the firm’s Interdisciplinary Insurance team. His clients include large consulting firms and a wide range of financial and other professionals including actuaries, accountants, auditors, appraisers and securities brokers. Muth’s practice focuses on malpractice claims against financial professionals, and he also has significant experience in computer and Internet law and litigation. Muth represents actuaries and other financial professionals in actions filed in state and federal courts around the country.
Muth’s financial litigation practice also includes securities class actions, FINRA arbitrations, federal court litigation involving the liability of securities brokers and litigation regarding insurance broker liability. He is the author of the Actuary Law blog at actuarylaw.com.