Portrait of Dr Zaki Khorasanee

Dr Zaki Khorasanee

Senior Lecturer in Actuarial Science

Bayes Business School , Faculty of Actuarial Science and Insurance

Contact

About

Overview

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
  • PhD

Memberships of professional organisations

  • Fellow, Institute of Actuaries, July 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

Research students

Mohamed Maait

Attendance: 2000 - 2003, full-time

Thesis title: The Egyptian Pension Scheme

Role: 1st Supervisor

Publications

Book

  1. Booth, P.M., Chadburn, R., Haberman, S., James, D., Plumb, R.H., Rickayzen, B.... Khorasanee, Z. (2005). Modern Actuarial Theory and Practice. Chapman and Hall/CRC. ISBN 9781584883685.

Chapter

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

Conference papers and proceedings (4)

  1. Khorasanee, Z., Blake, D., Pickles, J. and Tyrrall, D. (2008). An unreal number: How company pension accounting fosters an illusion of uncertainty. How to communicate reality: The future of pension accounting London.
  2. Khorasanee, Z., Haberman, S. and Nash, N. (2003). A stochastic approach to risk management and decision making in defined benefit pension schemes. Institute of Actuaries sessional meeting London..
  3. Khorasanee, Z. (2001). A cash-flow approach to pension funding. Actuarial Research Conference Columbus, Ohio..
  4. Khorasanee, Z. (2001). A stochastic approach to pension funding and investment. Pensions Convention of Faculty and Institute of Actuaries Brighton..

Journal articles (12)

  1. 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

    [publisher’s website]

  2. Khorasanee, M.Z. (2011). Benefit smoothing and risk-sharing in a hybrid pension plan. North American Actuarial Journal
  3. 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

    [publisher’s website]

  4. 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

    [publisher’s website]

  5. Blake, D. and Khorasanee, M.Z. (2005). Why invest in equities? North American Actuarial Journal, 9(4), pp. 125-130. doi:10.1080/10920277.2005.10596231
  6. 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

    [publisher’s website]

  7. Haberman, S., Day, C., Fogarty, D., Khorasanee, M.Z., McWhirter, M., Nash, N.... Yakoubov, Y. (2003). A Stochastic Approach to Risk Management and Decision Making in Defined Benefit Pension Schemes. British Actuarial Journal, 9(3), pp. 493-586. doi:10.1017/s135732170000427x

    [publisher’s website]

  8. 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

    [publisher’s website]

  9. 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

    [publisher’s website]

  10. Khorasanee, M.Z. (2002). Can utility-maximization models assist with retirement planning? Journal of Actuarial Practice, 10, pp. 97-129
  11. 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

    [publisher’s website]

  12. Khorasanee, M.Z. (1995). Closed Pension Funds. Seminars, 10 March and 20 March 1995. British Actuarial Journal, 1(03), pp. 581-582

Report

  1. Blake, D., Khorasanee, Z., Pickles, J. and Tyrrall, D. (2008). An unreal number: how company pension accounting fosters an illusion of certainty. London, UK: Pensions Institute; Cass Business School.

Working papers (3)

Education

Course Directorship

- 2009 - present, Business Research Project, Director

Professional activities

Editorial activity (2)

  1. Geneva Papers on Risk and Insurance, Referee, 2010 - present.
  2. Journal of Pension Economics and Finance, Referee, 2003 - present.

Events/conferences (4)

  1. How to communicate reality: The future of pension accounting. (Conference) London (2008).
    Paper: An unreal number: How company pension accounting fosters an illusion of uncertainty
    Author: Khorasanee Z
    Co-authors: D. Blake, J Pickles, D. Tyrrall
  2. Institute of Actuaries sessional meeting. (Conference) London (2003). Invited speaker.
    Paper: A stochastic approach to risk management and decision making in defined benefit pension schemes
    Author: Khorasanee Z
    Co-authors: S. Haberman, N Nash.
  3. Pensions Convention of Faculty and Institute of Actuaries. (Conference) Brighton. (2001). Invited speaker.
    Paper: A stochastic approach to pension funding and investment.
    Author: Khorasanee Z
  4. Actuarial Research Conference. (Conference) Columbus, Ohio. (2001). Invited speaker.
    Paper: A cash-flow approach to pension funding
    Author: Khorasanee Z