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Actuaries are consolidating their reputation as leading risk management specialists, particularly in areas where data is plentiful and quantitative techniques are well established. To complete this picture, actuaries will also need to be well-versed in risk disciplines such as operational risk, where data may not be so plentiful and qualitative ways of managing risk gain added emphasis. This presentation (and associated paper, currently under development by the AAEâ€™s Risk Management Committee) will discuss a selection of topics from the following: - What actuaries already do in the field of operational risk measurement and management; - What organisations they might work for are likely to want in the near term; - How best to measure and manage operational (and other) risks if there is limited data; - How best to facilitate qualitative approaches to operational risk management, such as risk and control self-assessments, quality assessments and effective challenge of others; - Risk appetite / tolerance and key risk indicator (KRI) definition; - Stress testing and scenario analysis; - Identifying loss frequency and severity distributions when data quality and quantity is a challenge; - Leveraging the wisdom of experts