challenge

peer review and technical actuarial standards of calibration work by peers
work included inputs into the capital model so ensuring rigour, transparency, and reproducibility necessary
analysis involved expert judgments, data adjustments … challenging to dig into

action

found had used par yields instead of spot yields and made material difference to calibration
structured and organised way of working
review the work thoroughly
identify concerns whilst maintaining a collaborative tone
found a useful framing … the issue had been present in the previous calibration and they had turned the handle on the existing process…. not introduced the error.
let them be the one to bring up the issue

result

issue gets brought up
gets resolved