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Shauna Ferris

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Ferris, Shauna
  • Title: Ms
  • Position: Senior Lecturer - Department of Applied Finance and Actuarial Studies
  • Qualifications: BA Macq., MComp Macq., FIAA

Contact Details

Areas of Expertise

  • Applied Finance and Actuarial Studies
  • Underwriting
  • Risk classification and discrimination
  • Adverse selection
  • Superannuation
  • Financial reinsurance

Profile

After studying actuarial studies and computer science at Macquarie University, Shauna Ferris worked in the financial services industry for several years, gaining experience in life insurance, banking, and superannuation. Prior to joining the actuarial department in 1993, she was Manager, Actuarial Services, at the Commonwealth Bank of Australia. Shauna Ferris has a special interest in superannuation and retirement savings, and she has published a number of papers on superannuation topics, including valuation methodology and investment strategy. She is a member of the IAAust SEBPC-EIM group, which supervises professional examinations and continuing professional development activities for actuaries specialising in superannuation. Shauna is also a member of the IAAust Genetics Task Force, and she is currently working on actuarial models for genetically inherited disorders.

Research areas

  • Applied Finance and Actuarial Studies
  • Risk Classification and Discrimination
  • Adverse Selection Models
  • Underwriting (with particular application to genetic disorders)
  • Superannuation
  • Prudential Regulation of Financial Institutions
  • Financial Reinsurance

conference toggle icon open Conferences and Presentations

  • Ferris S (2009), "How to destabilise the Financial System", Institute of Actuaries of Australia Biennial Convention, Sydney.
  • Ferris S (2009), "How to destabilise the Financial System", New Zealand Society of Actuaries Financial Service Forum, Auckland, New Zealand.
  • Ferris S (2008), “General Insurance Risk Management and Prudential Regulation”, Korean Insurance Academic Society Conference, Seoul, Korea.
  • Ferris S (2008), “Great Mistakes in Underwriting”, Australian Life Underwriting and Claims Association Incorporated (ALUCA), Melbourne.
  • Ferris S (2008),“Matters relating to 2005 enforceable undertakings by APRA against AXA Staff Superfund trustee/directors” Australian Institute of Superannuation Trustees (AIST) workshop, Melbourne
  • Ferris S (2008), “The Other Sub-Prime Lending Crisis”, Institute of Actuaries of Australia: 4th Financial Service Forum, Melbourne.
  • Ferris S (2008), “The Other Sub-Prime Lending Crisis”, Institute of Actuaries of Australia Insights Sessions, Sydney and Melbourne.
  • Ferris S (2008), “Someone Else’s Problem – A Case Study in Regulatory Failure”, Institute of Actuaries of Australia: 4th Financial Service Forum, Melbourne.
  • Ferris, S, Parr, N. and Mahuteau, S. (2007), “The Impact of Children on Australian Men and Women’s Superannuation”, accepted for presentation at both the HILDA conference in Melbourne and the Australian Superannuation Researcher’s Colloquium at UNSW.
    • Indirect Discrimination in Defined Benefit Superannuation Schemes, by S Ferris, presented to the 1998 Superannuation Researchers Colloquium, published on the ASFA website under Policy/Research papers.
  • This paper looks at the relative costs of defined benefit funds for men and women, taking account of differences in lifetime salary patterns. It was based on data from the NSW State Superannuation Fund.
    • Women Making Choices, presented at the UNSW Superannuation Researchers Colloquium 2000 and later published on the ASFA website and in the Research Paper Series for the Department of Actuarial Studies
  • This paper looks at the choices made by men and women when superannuation funds offer members a choice of contribution rate, investment options, and benefit payment options.
    • Ansett : A Case Study , presented at the UNSW Superannuation Researchers Colloquium 2003, and later to be published in the Research Paper Series for the Department of Actuarial Studies.
  • After the collapse of Ansett in September 2001, the staff superannuation fund was unable to pay the full benefit to members; the shortfall amounted to about $150 million. The subsequent court case raised many questions about the adequacy of Australian superannuation legislation.
  • The paper was well-received and the conference organisers have requested permission to include it in a book (they are currently holding discussions with a publisher).
    • Ms...ing Out : Women and Retirement Savings (co-authored with Diana Olsberg from UNSW). This was the keynote address at the presented at the Economic Summit on Women and Retirement Saving held at UNSW in 2001, and was subsequently published on the UNSW website and in our Research Paper Series
  • Under the current superannuation system, women are unlikely to save enough for an adequate retirement. This paper examines the causes for the problem and suggests some remedies, including some strategies adopted overseas.
    • Update 2000 : A Survey of Valuation Assumptions and Funding Methods Used by Australian Actuaries in Defined Benefit Superannuation Fund Valuations by S Ferris and Des Welch, presented at the IAA Superannuation Forum May 2000 (unpublished – only distributed to those attending the Forum). This was an update of the 1996 paper described above

phd supervision toggle icon open PhD Student Supervision

  • Associate Supervisor of Andrew Manning - PhD-Business Law Research - Full Time

Teaching:

  • ACST300: Insurance and Superannuation Practice
  • ACST356: Mathematical Theory of Risk
  • ASCT834: Financial Institutions Management and Regulation
  • ACST401: The Actuarial Control Cycle 2

Publications

Publications

  • Ferris, S (2010), "Someone Else's Problem: The Failure of the Guarantee Security Life Insurance Company" Australian Actuarial Journal (forthcoming)
  • Ferris, S (2008), “Mis-Selling Financial Products – is your company at Risk? A Case Study in Mismanagement”, Journal of Financial Advice, Vol 1, No 3, 54-70.
  • Ferris, S (2007), “Ansett’s superannuation fund, a case study in insolvency”, included as a chapter in Retirement provision in Scary Markets, Edited by Hazel Bateman, published by Edward Elgar, Cheltenham UK
  • Ferris, S, Parr, N. and Mahuteau, S. (2007), “The Impact of Children on Australian Men and Women’s Superannuation”, Economic and Labour Relations Review 1:3-26
  • Ferris, S (2007), “Broken Promises: Solvency Issues for Defined Benefit Funds”, Law, Probability and Risk, 5:201-232.
  • De Jong, P. and Ferris, S (2006) “Adverse selection spirals”  Astin Bulletin 36: 589-628.
  • Assessing the Costs of Adverse Selection. This paper was presented at the ASTIN conference in 2004 and subsequently published in the ICFAI Journal of Risk and Insurance (January 2005, Vol II, No 1). The paper was also posted on our website as part of the Actuarial Studies Department Working Paper Series.
  • Ansett: A Case Study is a chapter in the book in “Retirement Incomes in Scary Markets” edited by Hazel Bateman and John Piggott (due to be published in mid-2006). An earlier version was presented at the Australian Superannuation Researchers Colloquium and posted on our website as part of the Actuarial Studies Department Working Paper Series.
  • “Broken Promises: Insolvency In Defined Benefit Funds” presented at the UNSW Annual Superannuation Researchers Colloquium (2005). This paper has been submitted to a journal, Law, Probability and Risk, and is currently going through the review process.
  • "Approximating the Bias and Variance of Chain Ladder Estimates Under a Compound Poisson Model", by Janagan Yogaranpan, Susan Clarke, John Pollard, and Shauna Ferris, Journal of Actuarial Practice, November 2004
  • The Use of Gender-based Mortality Rates in Australian Superannuation Funds, by S Ferris and D Welch, Conference Proceedings of the IAA 1997 Centenary Convention 1997
  • A Survey of Valuation Assumptions and Funding Methods Used by Australian Actuaries in Defined Benefit Superannuation Funds, co-authored with Mr Des Welch, published in the Quarterly Journal of the Institute of Actuaries of Australia, 1996 (short version). A more detailed version was later published in the Research Paper series for the Actuarial Studies Department
  • Pricing : Theory, Practice, and Control, by S Ferris, DJ Finnis, MA Munns, and D Shuttleworth, Transactions of the Institute of Actuaries of Australia, 1995
  • Submission to the Senate Select Committee : Investment Policies and Objectives of Superannuation Funds, The Problem of Short-Termism - by S Ferris and Colin Grenfell (submitted by the Superannuation Practice Committee of the IAA). Subsequently printed in Transactions of the Institute of Actuaries, 1995.