Política de la Función Actuarial

English translation: actuarial policy

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:política de la función actuarial
English translation:actuarial policy
Entered by: philgoddard

18:58 Apr 28, 2015
Spanish to English translations [PRO]
Bus/Financial - Insurance / Company report
Spanish term or phrase: Política de la Función Actuarial
Any ideas for this? Mine is just a guess. Any suggestions to improve the rest of the sentence are welcome.

En términos generales, y tal como se establece en la “Política de la Función Actuarial” que se adjunta en el Anexo IV, el Departamento Actuarial realiza la definición de las metodologías e hipótesis del cálculo mientras que el Departamento de Control de Gestión procede a realizar los cálculos, que posteriormente son revisados por el Departamento Actuarial.

In general terms, and as stated in the “Policy of the Actuarial Role” enclosed in Annex IV, the Actuarial Department defines the methodologies and hypotheses of the calculation while the Department of Management Control performs the calculations, which are then reviewed by the Actuarial Department.

Many thanks!
Sarah Webb
United Kingdom
Local time: 09:07
actuarial policy
Explanation:
Función basically means department here, but since this word appears later in the sentence you can just leave it out.

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Note added at 15 mins (2015-04-28 19:14:13 GMT)
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"Calculation methods and hypotheses" is better than "methodologies and hypotheses of the calculation". You could also say "pricing", which is what they're calculating.
Selected response from:

philgoddard
United States
Grading comment
Thanks again Phil!
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +3actuarial policy
philgoddard
Summary of reference entries provided
Actuarial Function
James Arthur Williamson

  

Answers


13 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
actuarial policy


Explanation:
Función basically means department here, but since this word appears later in the sentence you can just leave it out.

--------------------------------------------------
Note added at 15 mins (2015-04-28 19:14:13 GMT)
--------------------------------------------------

"Calculation methods and hypotheses" is better than "methodologies and hypotheses of the calculation". You could also say "pricing", which is what they're calculating.

philgoddard
United States
Specializes in field
Native speaker of: English
PRO pts in category: 132
Grading comment
Thanks again Phil!

Peer comments on this answer (and responses from the answerer)
agree  Billh
42 mins

agree  AllegroTrans
2 hrs

agree  Andy Watkinson
2 hrs
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Reference comments


819 days
Reference: Actuarial Function

Reference information:
Financial Conduct Authority, UK: Actuarial Function
Lloyds: Guidance on the Actuarial Function April 2016
Actuarial Association of Europe: The Actuarial Function, as well as the Risk Management Function are key for the governance of
the undertaking and the function holders are required to be fit and proper (exactly the purpose of the AAE's Code of Conduct and the Standards of Actuarial Practice).

Example sentence(s):
  • The LMA have produced the below useful guidance note to assist Actuarial Functions' interpretation of the requirements around Underwriting and Reinsurance
  • Reasons for the actuarial function • What the actuarial function is • What the actuarial function is not • What supervisors are looking for from the actuarial function

    Reference: http://www.actuaries.org.uk/documents/actuarial-function
James Arthur Williamson
Spain
Native speaker of: Native in EnglishEnglish
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