Zaki Khorasanee

Zaki Khorasanee qualified as a Fellow of the Institute of Actuaries in 1991. He joined the Department of Actuarial Science and Statistics in 1992 after six years' work experience in pensions consultancy, and was editor of 'The Actuary' magazine from 1997-1999. He completed his PhD on the application of actuarial methods to defined contribution pension schemes in 1999.

Qualifications

BA and PhD.

Memberships of Professional Organisations

Fellow, Institute of Actuaries, Jul 1991 – present

Expertise

Primary Topics

Actuarial Science Pension Funds

Additional Topics

• Accounting
• Finance

Research

Paper on risk-sharing in hybrid pension schemes published in North American Actuarial Journal.

Research Topics

Defined-benefit pension schemes

Valuation of liabilities, investment, risk management.

Hybrid pension schemes

Design of hybrid plans, examination of risk-sharing properties

Book

Booth, P.M., Chadburn, R., Haberman, S., James, D., Plumb, R.H., Rickayzen, B. and Khorasanee, Z. (2005). Modern Actuarial Theory and Practice. Chapman and Hall/CRC. ISBN 978-1-58488-368-5.

Chapter

Khorasanee, Z. (2001). Beyond the Efficient Markets Hypothesis. In Bond, T. (Ed.), Barclays Capital Equity-Gilt Study 2001 (pp. 75–83).

Journal Articles (12)

• Khorasanee, Z.M. (2012). Risk-sharing and benefit smoothing in a hybrid pension plan. North American Actuarial Journal, 16(4), pp. 449–461. doi:10.1080/10920277.2012.10597642.
• Khorasanee, M.Z. (2011). Benefit smoothing and risk-sharing in a hybrid pension plan. North American Actuarial Journal .
• Khorasanee, Z. (2009). What discount rate should be used to value a cash-flow linked to final salary? Journal of Pension Economics and Finance, 8(3), pp. 351–360. doi:10.1017/S1474747207003435.
• Khorasanee, Z. (2005). Benefit uncertainty and default risk in pension plans. Insurance: Mathematics and Economics, 37(3), pp. 469–493. doi:10.1016/j.insmatheco.2005.04.007.
• Blake, D. and Khorasanee, M.Z. (2005). Why invest in equities? North American Actuarial Journal, 9(4), pp. 125–130.
• Blake, D. and Khorasanee, Z. (2005). Pensions and Capital Structure: Why Hold Equities in the Pension Fund? By John Ralfe, Cliff Speed, and Jon Palin, July 2004. North American Actuarial Journal, 9(4), pp. 125–130.
• Haberman, S., Khorasanee, M.Z., Ngwira, B. and Wright, I.D. (2003). Risk measurement and management of defined benefit pension schemes: A stochastic approach. IMA Journal of Management Mathematics, 14(2), pp. 111–128. doi:10.1093/imaman/14.2.111.
• Haberman, S., Day, C., Fogarty, D., Khorasanee, M.Z., McWhirter, M., Nash, N., Ngwira, B., Wright, I.D. and Yakoubov, Y. (2003). A Stochastic Approach to Risk Management and Decision Making in Defined Benefit Pension Schemes. British Actuarial Journal, 9(03), pp. 493–586. doi:10.1017/S135732170000427X.
• Khorasanee, M.Z. (2002). A Cash-Flow Approach to Pension Funding. North American Actuarial Journal, 6(1), pp. 63–76. doi:10.1080/10920277.2002.10596034.
• Khorasanee, M.Z. (2002). Can utility-maximization models assist with retirement planning? Journal of Actuarial Practice, 10, pp. 97–129.
• Khorasanee, M.Z. and Ng, H.K. (2000). A Retirement Plan Based on Fixed Accumulation and Variable Accrual. North American Actuarial Journal, 4(1), pp. 63–76. doi:10.1080/10920277.2000.10595877.
• Khorasanee, M.Z. (1995). Closed Pension Funds. Seminars, 10 March and 20 March 1995. British Actuarial Journal, 1(03), pp. 581–582.

Course Directorship

• 2009 - present, Business Research Project, Director

Editorial Activities (2)

• Geneva Papers on Risk and Insurance, Referee, 2010 – present.
• Journal of Pension Economics and Finance, Referee, 2003 – present.