Ditto to what ultimate actuary said. I think it’s fairly common for roles that can access meaningful amounts of money, and might be hiding embezzlement. But I’ve never heard of any actuary subject to a rule like that.
1 Like
Say you’re in accounting, and you’re responsible for payroll. You figure out how to add an extra zero to your salary, in a way that nobody will likely discover. The idea is that if and when you take vacation, someone else will do this work and they might figure it out.
There are, of course, other internal controls to prevent this, but that’s the gist as I understand it.
Ah.
So my ultra-secret scheme to steal Insurance Reserves doesn’t count?
I’ve alerted your employer as to how you likely funded the back yard remodel.
Did I say that out loud? Shoot!
1 Like
Just shave a fraction of a penny from each policy’s reserve and stash it in a secret account. 
6 Likes
It’s like Superman Three.
2 Likes