Mark Terris joins Risk Lighthouse as Managing Director

Mark Terris

May 5th, 2015

Mark is an operational risk expert that Risk Lighthouse has brought on to to help launch its Operational Risk Modeling software, OpRisk Lighthouse.  Mark also will be integral in strategic decisions made by the company.  

Mark has over 25 years of risk management and audit experience with insurance and banking organizations.  His experience includes the design of risk governance processes, integration of operational risk management frameworks into enterprise risk management programs as well as the development of operational risk management policies, related risk appetites, key risk indicators and dashboard reporting.

Mr. Terris holds a BS degree in Accounting and an MBA from Monmouth University.  He is a Certified Public Accountant and Certified in Risk Management Assurance.


Dr. Wang co-organized and presented in the International conference on collateral risk

Pictured:  Dr. Karl Case, co-creator of the Case Shiller Index and Dr. Shaun Wang, FCAS, MAAA 

"Actuarial Values of Housing Markets"

in the conference that was held on July 31 - August 1, 2013, at the AEI building in Washington, D.C. This conference, titled International conference on collateral risk: Moderating housing cycles and their systemic impact," was co-sponsored by  the Collateral Risk Network, Robinson College of Business at Georgia State University, and AEI. The conference invited some speakers including Karl Case, who is the co-founder of the S&P/Case-Shiller Index of Real Estate Prices, Rep. Bill Foster (D-IL) and former chairman of the Federal Deposit Insurance Corporation William Isaac. The video link provided by AEI is .

Conference website

Actuarial values of housing markets Presentation


Risk Lighthouse presented at the FED

May 2013 

Dr. Shaun Wang, FCAS, MAAA and Han Chen, FSA presented 

"A Network Model Approach to Systemic Risk in the Financial System"

in the conference that was held on May 30 - 31, 2013, at the Board of Governors of the Federal Reserve System in Washington, D.C. This conference, titled "Financial Stability Analysis: Using the Tools, Finding the Data," was co-sponsored by the Federal Reserve Bank of Cleveland and the Office of Financial Research.

Conference Website

A Network Model Approach to Systemic Risk in the Financial System  [ presentation | paper ]




Prize Winners Announced at the 2012 Casualty Loss Reserve Seminar


October 9, 2012

The 2012 Recipients of the Ronald Bornhuetter Loss Reserve Prize, were also announced at the CLRS. This award commemorates the work of Ronald Bornhuetter, FCAS (1957). The award was renamed in November 2006 from the Reserves Prize. The award is made to the author(s) of the best paper submitted in response to a call for papers regarding reserves, whenever the program is conducted by the Committee on Reserves of the Casualty Actuarial Society. The announcement of the award is made at the Casualty Loss Reserve Seminar at which the papers are presented.


The 2012 grand prize winners are Jessica (Weng Kah) Leong, Shaun Wang, and Han Chen for their paper Back-Testing the ODP Bootstrap of the Padi Chain-Ladder Model with Actual Historical Claims Data. The authors received prize money and a plaque at the 2012 Casualty Loss Reserve Seminar.  more


The Full version of paper is available here: Back-Testing the ODP Bootstrap of the Paid Chain-Ladder Model with Actual Historical Claims Data



Gene Connell and Han Chen spoke at CASE (Casualty Actuaries of the SouthEast) Fall 2012 Meeting


October 3, 2012

Gene Connell and Han Chen spoke on Loss reserve Development Risk at CASE Fall 2012 Meeting.

In this one-hour session, they discussed how reserve risk varies significantly from company to company and companies's loss reserve development can be measured.


The full version of powerpoint is available here: Are Insurance Companies' Reserve Risks the Same?


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