Documentation again

Having a look at actuarial processes these days, technical changes aside, we note that the level of documentation has significantly increased. Not 'by free will' but rather under the pressure of SoX and similar initiatives. I guess, every one of us has documented parts of our daily work in order to allow an experienced and educated professional to take a seat at our desk and start working.* We have all been involved in decribing complex processes on paper.**

I believe, this improvement has only covered the first half of the topic yet: Processes, being static to some extent, became explained in flowcharts and text. Responsibilities, functions and roles are now carved in stone - as long as no M&A is taking place. 

The second part of the way still lying ahead of us reminds me of at least two areas of improvement. Both relating to the cumbersome work involved in writing reports on a regular, even monthly!, basis.

First, I'd like to be able to gather ideas and information already during the analysis of data, during my actuarial work. Such commenting feature is currently being implemented in RiskAnalytics allowing the user to attach information just in the moment and at the place where it is occurring.

Second, I'd like to see automated reporting tools, automatically producing a report based on the information gathered in my tools covering data, calibration information, comments (! - see above), results ... Building a first draft (or even more) of my report.***

So, it will still take some time unless DADA gets gets DAdA. Or even DAA. Next time, I will cover the second A. 

Markus M.

* Obviously, using professional judgment here and there, the results of the work will be different, here and there. 

** Yet another example of how groups of people can change their opinion in an evolutionary way.

*** For this feature, PillarOne provides a perfect framework. The stage is open for a sponsor!