Your article was successfully shared with the contacts you provided.
After the increasing capital requirements of funding catastrophes raised the risk to its balance sheet, USAA, the San Antonio, Texas-based financial services provider and the largest provider of property/casualty and life insurance products to the military, realized that although it was highly competent in risk management, the company had not holistically managed its total risk profile in an integrated fashion. “There were increasing expectations of risk governance at the board level, escalating expectations by regulators for rigorous risk management practices and the growing unpredictability of extreme events like natural disasters and economic downturns,” explains Chris Mandel, USAA’s assistant vice president of ERM. “There was a general recognition that there were more sophisticated ways to manage risk and compete more effectively in our markets.”
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing. Once you are an ALM digital member, you’ll receive:
Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices,
case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
Exclusive discounts on ALM and Treasury & Risk events.
Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.