Michael Sherris

Michael Sherris is a part time Professor in the School of Risk and Actuarial Studies having retired in 2016. He was Head of Actuarial Studies at UNSW until 2010 having been appointed to UNSW in 1998 to establish the Actuarial Studies program. Before joining UNSW, he was an Associate Professor in Actuarial Studies at Macquarie University. He is a Fellow of the Institute of Actuaries of Australia, the Institute of Actuaries (UK) and the Society of Actuaries (North America). His part time role concentrates on research, research student supervision and mentoring of early career researchers particularly through the ARC Centre of Excellence in Population Ageing Research where he is a Chief Investigator and Director of Industry Engagement.

Prior to becoming an academic he worked in the banking and finance industry for a number of major banks and a life insurance company. He has been an active member of the Australian actuarial profession having served on the Council of the Institute of Actuaries of Australia. He has previously been actively involved in course development for the Finance and Investment Management courses of the Institute, and served as a Chief Examiner for the Finance course and an examiner for the Investment and General Insurance courses. He served as an Associate Editor of the North American Actuarial Journal from 1997-2004 and is an Associate Editor of the Asia Pacific Journal of Risk and Insurance, Associate Editor of the Annals of Actuarial Science and is a Co-Editor of the North American Actuarial Journal since 2017. He is a co-editor of the Springer Actuarial Series. He was President (2008-2009) of the Asia Pacific Risk and Insurance Association and a Board and Executive Member of the Enterprise Risk Management Institute International (ERMII). He was Chair of the AFIR-ERM Section of the International Actuarial Association and serves on the International Actiuarial Association's Mortality Working Group since 2017.

He has been lead and chief investigator on research grants with funding in excess of $40 million from ARC Linkage, Industry, Universities and Government. He was an investigator in the ARC Financial Integrity Research Network with funding of $1.75 million over 5 years. Michael has won a number of awards for his research including the International Actuarial Association Bob Alting von Gesau AFIR Prize, Casualty Actuarial Society (CAS) annual prize for the most valuable contribution to casualty actuarial science published in American Risk and Insurance Association (ARIA) literature, a Geneva Association/IIS Research Program Shin Research Award For Excellence, the Redington Prize of the Society of Actuaries, Best Paper prize for the North American Actuarial Journal and the H M Jackson Memorial Prize of The Institute of Actuaries of Australia. In 2007 he was awarded Australian Actuary of the Year in recognition of his contributions to actuarial research and education both internationally and within Australia.

Professor Sherris has provided consulting advice for a number of banks, life insurance companies and fund managers in the areas of interest rate risk management, derivatives, funds management, project finance, investment modelling and superannuation.

Research interests

• Longevity, health status and functional disability risk modelling, long term care insurance and longevity risk management
• Insurer risk management, pricing, solvency and capital allocation
• Quantitative risk modelling and the economics of risk management

Research Grants

• 2017- 2020: ARC Discovery Project DP170102275 - $350,000 Professor Michael Sherris; Dr Jonathan Ziveyi; Professor Annamaria Olivieri. Retirement income product innovation. 
• 2017 - 2023: ARC Centre of Excellence in Population Ageing - $27,250,000; Partner Universities and Organisations: over $40 million cash and in-kind Prof M Sherris one of 12 Chief Investigators.
• 2015 - 2017: ARC Linkage Project LP150100347 - $130,000 John Piggott, Michael Sherris, and Xianguo Yao on “Long-term care financing and policy: Insights from a pilot program in China” in collaboration with the Institute for Population and Development Studies:  
• 2014 - 2017: ARC Linkage Project LP140100104 - $493,000 Sherris, Prof Michael; Bateman, Prof Hazel J; Piggott, Prof John R; Stevens, Dr Ralph; Nijman, Prof Theodoor E; Bovenberg, Prof Arij L; Deane, Mr Jonathan A; Twaddle, Mr James E; Ponds, Prof Dr Eduard. Mandatory pre-funded retirement income schemes: Best policy and practice 
• 2014 - 2015: Centre of Excellence for International Finance and Regulation, SUP003, $80,000  Prof M Sherris, Dr Jonathan Reeves, Associate Prof Nicolas Papageorgiou, Developing Risk Management Methods for Superannuation Investments. 
• 2011 - 2012: ARC Linkage Project LP110100540 - $137,470: Developing sustainable retirement policy in a Chinese province: the case of Zhejiang, with Professor John R Piggott, Professor Michael Sherris, Associate Professor Hazel J Bateman, Professor Xian-guo Yao: Partner/Collaborating Organisation(s): Institute for Public Policy, Zhejiang Province
• 2011 - 2018: ARC Centre of Excellence in Population Ageing - $12.7 million (universities $6.6 million, industry partners $1.4 million) Professor JR Piggott, University of New South Wales CD, CI’s, Professor KJ Anstey, Australian National University, Professor RG Cumming, University of Sydney, Professor MP Keane, University of Technology Sydney, Professor HL Kendig, University of Sydney, Professor PF McDonald, Australian National University, Professor M Sherris, University of New South Wales and Professor AD Woodland, University of New South Wales, ARC Centre of Excellence in Population Ageing
• 2009 - 2013: ARC Linkage Project - LP0883398: Chief Investigator - Managing Risk with Insurance and Superannuation as Individuals Age, with JR Piggott, JR Evans, C Kim,  EA Valdez, OS Mitchell and ES Hernaes, $1.3m, (industry partners $400,000)
• 2007: Taylor - Fry Consulting; Industry research grant 'Stochastic Economic Scenario Generator', $17,000
• 2006 - 2008: ARC Discovery Grant DP0663090: Chief Investigator for 'Innovations in Enterprise Risk Management: Risk Aggregation, Dependence and Efficiency' with John van der Hoek, $260,000
• 2005 - 2007: ARC Discovery Grant DP0556775: Joint Investigator for 'Risk Management for Bonds, Currencies and Commodities' with G Kingston, HJ Bateman, LA Fisher, KW Clements, and SJ Thorp, $240,000 
• 2004 - 2009: Investigator in the Australian Research Council Financial Integrity Research Network (FIRN), $1.75 million over 5 years