Difference between revisions of "Risk Management Solutions"

From Powerbase
Jump to: navigation, search
(Executive Team)
(Sample Client List)
 
(10 intermediate revisions by the same user not shown)
Line 1: Line 1:
 
According to its [http://www.rms.com/AboutRMS/ website] '''Risk Management Solutions''' was
 
According to its [http://www.rms.com/AboutRMS/ website] '''Risk Management Solutions''' was
  
:Founded at Stanford University in 1988, RMS is the world's leading provider of products and services for the quantification and management of catastrophe risks. The company grew rapidly in the 1990s offering technology and services for the management of insurance catastrophe risk associated with natural perils such as earthquakes, hurricanes, and windstorms, as well as products for weather derivatives and enterprise risk management for the P&C insurance industry. Today, RMS is also the leader in risk modeling for man-made disasters associated with acts of terrorism by analyzing the impact of weapons of mass destruction on property and people for many sectors of the insurance industry. The company’s objective is to help clients improve financial performance by using RMS products and services to gain the most complete view of their risk portfolio.
+
:Founded at Stanford University in 1988, RMS is the world's leading provider of products and services for the quantification and management of catastrophe risks. The company grew rapidly in the 1990s offering technology and services for the management of insurance catastrophe risk associated with natural perils such as earthquakes, hurricanes, and windstorms, as well as products for weather derivatives and enterprise risk management for the P&C insurance industry. Today, RMS is also the leader in risk modeling for man-made disasters associated with acts of terrorism by analyzing the impact of weapons of mass destruction on property and people for many sectors of the insurance industry. The company's objective is to help clients improve financial performance by using RMS products and services to gain the most complete view of their risk portfolio.
  
 +
The website also discloses that RMS is majority-owned by [[DMG Information]], a division of the U.K.-based [[Daily Mail and General Trust]], plc media enterprise.
  
 
 
 
 
Line 9: Line 10:
  
 
*[[Hemant H. Shah]], President & CEO
 
*[[Hemant H. Shah]], President & CEO
 
Hemant Shah is co-founder, president & CEO of RMS, and is chairman of RMS' Japanese Joint Venture – OYO RMS. During his 15 years at RMS, he has played a central role in the changes that have taken place within the re/insurance industry through its adoption of technologies and risk-based strategies to manage catastrophe exposure. Mr. Shah has been recognized as a "Leader of the Future" by Global Reinsurance; one of "35 Rising Stars" by Business Insurance; and a "Model Citizen" by Risk & Insurance. He has advised hundreds of insurers, reinsurers, and financial institutions and is a regular participant in industry initiatives, conferences, and publications. He serves on the Board of Directors for [[ERisk, Inc.]] and [[Property and Portfolio Research, Inc.]]; is on the Board of Overseers for [[St. John's School of Risk Management and Actuarial Science]]; serves on the advisory Board of Institutional Investors' Journal of Risk Finance; and is a Director of the newly formed [[RAND Center for the Study of Terrorism and Political Violence]]. Mr. Shah received a B.S. in Civil Engineering and an M.S. in Engineering Management from Stanford University.
 
 
 
*[[Stephen I. Robertson]], EVP & CFO
 
*[[Stephen I. Robertson]], EVP & CFO
 
Steve Robertson is executive vice president and chief financial officer, and serves as a Director of OYO RMS, RMS' Japanese joint venture. Prior to joining RMS in 2001, Mr. Robertson was CFO of [[COLO.com]], and CFO of [[Insweb]], the online insurance marketplace, where he helped raise significant private equity capital and managed the company's successful initial public offering. Before this, he spent a number of years in the insurance investment banking business, raising capital and executing mergers and acquisitions for [[Lehman Brothers]], [[Salomon Smith Barney]], and [[Alex. Brown & Sons]]. Mr. Robertson holds an A.B. from Princeton University and an MBA from the Stanford Graduate School of Business.
 
 
 
*[[Robert Muir-Wood]], Chief Research Officer
 
*[[Robert Muir-Wood]], Chief Research Officer
  
Line 26: Line 21:
 
*[[Lawrence Raia]], Executive VP, Global Managing Director of Client Development
 
*[[Lawrence Raia]], Executive VP, Global Managing Director of Client Development
  
Larry Raia is executive vice president and managing director of global client development, directing the overall client-facing organizations with responsibility for sales, client service, and corporate marketing activities. Since joining RMS in June 2000, Mr. Raia has been part of expanding RMS’ longstanding client relationships within the insurance industry. Prior to joining RMS, Mr. Raia was the leader for the Northeast Insurance Industry Customer Relationship Management Practice for [[Deloitte Consulting]]. Mr. Raia holds a degree in Civil Engineering from Lehigh University and an M.B.A. from Carnegie-Mellon University.
+
Larry Raia is executive vice president and managing director of global client development, directing the overall client-facing organizations with responsibility for sales, client service, and corporate marketing activities. Since joining RMS in June 2000, Mr. Raia has been part of expanding RMS' longstanding client relationships within the insurance industry. Prior to joining RMS, Mr. Raia was the leader for the Northeast Insurance Industry Customer Relationship Management Practice for [[Deloitte Consulting]]. Mr. Raia holds a degree in Civil Engineering from Lehigh University and an M.B.A. from Carnegie-Mellon University.
  
 
*[[Bill Keogh]], Senior VP, Managing Director of the Americas Region
 
*[[Bill Keogh]], Senior VP, Managing Director of the Americas Region
Line 34: Line 29:
 
*[[Matthew Grant]], Senior VP, Managing Director of the International Region
 
*[[Matthew Grant]], Senior VP, Managing Director of the International Region
  
Matthew Grant is senior vice president and managing director of the international region, responsible for RMS international sales and services activities. Since joining RMS in 1996, Mr. Grant has been involved in growing the RMS presence in Europe and Asia, providing the full range of RMS models and services to insurers, reinsurers, brokers, and the Lloyd’s market. Mr. Grant has a degree in Mechanical Engineering.
+
Matthew Grant is senior vice president and managing director of the international region, responsible for RMS international sales and services activities. Since joining RMS in 1996, Mr. Grant has been involved in growing the RMS presence in Europe and Asia, providing the full range of RMS models and services to insurers, reinsurers, brokers, and the Lloyd's market. Mr. Grant has a degree in Mechanical Engineering.
  
 
==Terrorist Risk Advisors Network==
 
==Terrorist Risk Advisors Network==
  
===A World-class Team of Advisors===
+
==='A World-class Team of Advisors'===
  
The development of the RMS® U.S. Terrorism Risk Model has involved the input of an extensive team of highly qualified advisors, all of which are authorities in their field of assessing terrorism threats.
+
The development of the RMS® U.S. Terrorism Risk Model has involved the input of an extensive team of highly qualified advisors, all of which are authorities in their field of assessing terrorism threats.
  
 
*[[RAND Corporation]]
 
*[[RAND Corporation]]
Line 50: Line 45:
 
===Individual Contributors===
 
===Individual Contributors===
  
Individual consultants who contributed to the development of the RMS® U.S. Terrorism Risk Model include the following:
+
Individual consultants who contributed to the development of the RMS® U.S. Terrorism Risk Model include the following:
 
 
*Dr. [[Rohan Gunaratna]] Head of terrorism research, Institute of Defense & Strategic Studies, Nanyang Technological University, Singapore
 
Terrorism threat from Al Qaeda and associated groups
 
 
 
*Dr. [[Magnus Ranstorp]] Director, Centre for the Study of Terrorism and Political Violence, University of St. Andrew's
 
Terrorism threats from Islamic militant groups and political violence in Middle East
 
 
 
*Dr. [[Bruce Hoffman]] Vice president for external affairs and director, RAND, Washington, D.C.
 
Terrorism risk in the U.S.
 
 
 
*Dr. [[K. Jack Riley]] Director, RAND Public Safety and Justice
 
Homeland Security
 
 
 
*Dr. [[Robert Reville]] Director of the RAND Institute for Civil Justice
 
Terrorism compensation & liability
 
 
 
*Dr. [[Darius Lakdawalla]] Associate economist at RAND and a faculty research fellow at the [[National Bureau of Economic Research]]
 
Probabilistic modeling and economics of terrorism risk
 
 
 
*Dr. [[Brian Chow]] Senior physical scientist at RAND
 
Loss modeling and the defense and control of terrorism weaponry
 
 
 
*Dr. [[Greg Jones]] Senior defense policy analyst at RAND
 
Chemical, biological, radiological, and nuclear weapons in terrorism
 
 
 
*Dr. [[George Zanjani]] Economist in the capital markets function of the research and market analysis group of the Federal Reserve Bank of New York
 
Economics of terrorism insurance
 
 
 
*Dr. [[Brian A. Jackson]] Associate physical scientist at RAND
 
Emergency response to terrorism incidents
 
 
 
*Dr. [[Kim Cragin]] Associate international policy analyst at RAND
 
Historical data on terrorism attacks
 
 
 
*Dr. [[Gregory Treverton]] Senior policy analyst at RAND
 
Terrorism, intelligence, and law enforcement
 
 
 
*Dr. [[Lois Davis]] RAND
 
Defense and security at targets
 
 
 
*[[James Quinlivan]] Senior analyst at RAND
 
Systems analysis research
 
 
 
*[[Pete Baxter]] Director, global consultancy operations, [[Jane's Information Group]]
 
Attack technology, logistical burden, and red teaming analysis
 
 
 
*[[Michael Dell]] Director, [[Jane's Information Group]]
 
Terrorism intelligence and news analysis
 
 
 
*[[Mark Mateski]] Consultant and project manager, [[Jane's Information Group]]
 
Red teaming, site security, and logistical burden
 
 
 
*[[David Kuhn]] Jane's Information Group
 
Weapons systems and unconventional attack operations
 
  
*[[Charles Heyman]] Editor, Jane's World Armies, senior military advisor, [[Jane's Information Group]]
+
*Dr. [[Rohan Gunaratna]] Head of terrorism research, [[Institute of Defense & Strategic Studies]], [[Nanyang Technological University]], Singapore Terrorism threat from Al Qaeda and associated groups
Site security
+
*Dr. [[Magnus Ranstorp]] Director, Centre for the Study of Terrorism and Political Violence, University of St. Andrew's Terrorism threats from Islamic militant groups and political violence in Middle East
 
+
*Dr. [[Bruce Hoffman]] Vice president for external affairs and director, [[RAND Corporations]], Washington, D.C. Terrorism risk in the U.S.
*[[Paul Mahoney]] & [[Laura]] Dake Jane's Information Group
+
*Dr. [[K. Jack Riley]] Director, RAND Public Safety and Justice Homeland Security
Security survey of New York skyscrapers
+
*Dr. [[Robert Reville]] Director of the RAND Institute for Civil Justice Terrorism compensation & liability
 
+
*Dr. [[Darius Lakdawalla]] Associate economist at RAND and a faculty research fellow at the [[National Bureau of Economic Research]] Probabilistic modeling and economics of terrorism risk
*[[Roger Davies]] [[Hazard Management Solutions Ltd.]], editor of TRITON terrorist activity database
+
*Dr. [[Brian Chow]] Senior physical scientist at RAND Loss modeling and the defense and control of terrorism weaponry
Consultant on attack technology (RMS terrorism model 1.0), provider of data and reports (RMS terrorism model 2.0)
+
*Dr. [[Greg Jones]] Senior defense policy analyst at RAND Chemical, biological, radiological, and nuclear weapons in terrorism
 
+
*Dr. [[George Zanjani]] Economist in the capital markets function of the research and market analysis group of the [[Federal Reserve Bank of New York]. Economics of terrorism insurance
*Dr. [[William Kastenberg]] Professor of nuclear engineering, University of California, Berkeley and member of the Advisory Committee on Nuclear Facility Safety for the U.S. DOE
+
*Dr. [[Brian A. Jackson]] Associate physical scientist at RAND Emergency response to terrorism incidents
Nuclear power plant safety against terrorist attack
+
*Dr. [[Kim Cragin]] Associate international policy analyst at RAND Historical data on terrorism attacks
 
+
*Dr. [[Gregory Treverton]] Senior policy analyst at RAND Terrorism, intelligence, and law enforcement
*[[Rich Balzano]] Consultant, Jane's Information Group
+
*Dr. [[Lois Davis]] RAND Defense and security at targets
Nuclear power plant operations and security
+
*[[James Quinlivan]] Senior analyst at RAND Systems analysis research
 
+
*[[Pete Baxter]] Director, global consultancy operations, [[Jane's Information Group]] Attack technology, logistical burden, and red teaming analysis
*Prof. [[Lawrence M. Wein]] Professor of management science at the Graduate School of Business, Stanford University
+
*[[Michael Dell]] Director, [[Jane's Information Group]] Terrorism intelligence and news analysis
Bioterrorism attacks and emergency response
+
*[[Mark Mateski]] Consultant and project manager, [[Jane's Information Group]] Red teaming, site security, and logistical burden
 
+
*[[David Kuhn]] Jane's Information Group Weapons systems and unconventional attack operations
*[[Mark Sauder]] Consulting engineer
+
*[[Charles Heyman]] Editor, Jane's World Armies, senior military advisor, [[Jane's Information Group]] Site security
Industrial facilities vulnerability
+
*[[Paul Mahoney]] & [[Laura]] Dake Jane's Information Group Security survey of New York skyscrapers
 
+
*[[Roger Davies]] [[Hazard Management Solutions Ltd.]], editor of TRITON terrorist activity database Consultant on attack technology (RMS terrorism model 1.0), provider of data and reports (RMS terrorism model 2.0)
*[[Malcolm Cowler]] Senior engineering analyst, [[Autodyn]]
+
*Dr. [[William Kastenberg]] Professor of nuclear engineering, University of California, Berkeley and member of the Advisory Committee on Nuclear Facility Safety for the U.S. DOE Nuclear power plant safety against terrorist attack
Use of computational fluid dynamics for blast modeling
+
*[[Rich Balzano]] Consultant, Jane's Information Group Nuclear power plant operations and security
 +
*Prof. [[Lawrence M. Wein]] Professor of management science at the Graduate School of Business, Stanford University Bioterrorism attacks and emergency response
 +
*[[Mark Sauder]] Consulting engineer Industrial facilities vulnerability
 +
*[[Malcolm Cowler]] Senior engineering analyst, [[Autodyn]] Use of computational fluid dynamics for blast modeling
  
 
==Clients==
 
==Clients==
Line 135: Line 79:
 
More than 400 insurers, reinsurers, trading companies, and other financial institutions rely on RMS to obtain the most complete view of their natural hazard risk. RMS products and services enable our clients to make informed decisions and improve bottom-line results on an ongoing basis. Our aim is to see clients achieve financial stability while optimizing profitability and growth.
 
More than 400 insurers, reinsurers, trading companies, and other financial institutions rely on RMS to obtain the most complete view of their natural hazard risk. RMS products and services enable our clients to make informed decisions and improve bottom-line results on an ongoing basis. Our aim is to see clients achieve financial stability while optimizing profitability and growth.
  
==Sample Client List==
+
===Sample Client List===
 +
 
 +
Ace Tempest Reinsurance, Ltd. | [[Aon Re Services Inc.]] | [[BP]] Energy, Inc. | Chubb & Son Division of Federal Insurance Group. | Copenhagen Reinsurance Co. | [[Danish Re]] | Fairfax Financial Holdings Ltd. | Financial Security Assurance, Inc. | Guideone Services LLC | Halifax General Insurance Services Ltd. | Hess Energy Trading Company, LLP | Holborn Corporation | Insurance Corporation of Hannover | Mapfre Re | [[Markel Corporation]] | Pause Insurance Services | Renaissance Re Holdings Ltd. | Risk Control Strategies of [[Marsh USA, Inc.]] | Scor U.S. Corporation | SIU Managers, LLC | [[Societe Generale]] | St. Paul Fire & Marine Ins. Co. | Swiss Re Underwriters Agency, Inc. | Tokio Millenium Re | Towers Perrin Reinsurance Company
  
Ace Tempest Reinsurance, Ltd.
+
==Notes==
Aon Re Services Inc.
+
<references/>
BP Energy, Inc.
+
[[Category:Terrorism Industry]]
Chubb & Son Division of Federal Insurance Group.
 
Copenhagen Reinsurance Co.
 
Danish Re
 
Fairfax Financial Holdings Ltd.
 
Financial Security Assurance, Inc.
 
Guideone Services LLC
 
Halifax General Insurance Services Ltd.
 
Hess Energy Trading Company, LLP
 
Holborn Corporation
 
Insurance Corporation of Hannover
 
Mapfre Re
 
Markel Corporation
 
Pause Insurance Services
 
Renaissance Re Holdings Ltd.
 
Risk Control Strategies of Marsh USA, Inc.
 
Scor U.S. Corporation
 
SIU Managers, LLC
 
Societe Generale
 
St. Paul Fire & Marine Ins. Co.
 
Swiss Re Underwriters Agency, Inc.
 
Tokio Millenium Re
 
Towers Perrin Reinsurance Company
 

Latest revision as of 17:57, 4 December 2008

According to its website Risk Management Solutions was

Founded at Stanford University in 1988, RMS is the world's leading provider of products and services for the quantification and management of catastrophe risks. The company grew rapidly in the 1990s offering technology and services for the management of insurance catastrophe risk associated with natural perils such as earthquakes, hurricanes, and windstorms, as well as products for weather derivatives and enterprise risk management for the P&C insurance industry. Today, RMS is also the leader in risk modeling for man-made disasters associated with acts of terrorism by analyzing the impact of weapons of mass destruction on property and people for many sectors of the insurance industry. The company's objective is to help clients improve financial performance by using RMS products and services to gain the most complete view of their risk portfolio.

The website also discloses that RMS is majority-owned by DMG Information, a division of the U.K.-based Daily Mail and General Trust, plc media enterprise.


Executive Team

Dr. Robert Muir-Wood joined RMS in 1996, and in 2003 was appointed chief research officer, leading a research organization comprised of highly experienced RMS professionals pursuing research to extend the utility and application of probabilistic modeling. Dr. Muir-Wood has led projects to develop earthquake, tropical cyclone, windstorm, and storm surge models in the U.S., Japan, Australia, Europe, and the Caribbean and has been the technical lead on a number of catastrophe risk securitizations. He has written numerous articles in journals and magazines, run courses in catastrophe risk for Lloyds of London, and has published six books.

Paul VanderMarck is executive vice president of products, leading the team responsible for enhancing existing RMS product lines and introducing new products and services. Since joining RMS in 1992, Mr. VanderMarck has served in a broad range of roles including model development, the establishment of RMS' initial set of international client relationships, and coordination of RMS' involvement in catastrophe risk securitizations. Most recently he was the Managing Director of RMS' weather risk business unit, in which he managed a team that developed and marketed an integrated suite of models, databases, and software to the weather derivatives market. He received B.S. and M.S. degrees in Structural and Earthquake Engineering from Stanford University.

  • Lawrence Raia, Executive VP, Global Managing Director of Client Development

Larry Raia is executive vice president and managing director of global client development, directing the overall client-facing organizations with responsibility for sales, client service, and corporate marketing activities. Since joining RMS in June 2000, Mr. Raia has been part of expanding RMS' longstanding client relationships within the insurance industry. Prior to joining RMS, Mr. Raia was the leader for the Northeast Insurance Industry Customer Relationship Management Practice for Deloitte Consulting. Mr. Raia holds a degree in Civil Engineering from Lehigh University and an M.B.A. from Carnegie-Mellon University.

  • Bill Keogh, Senior VP, Managing Director of the Americas Region

Bill Keogh has been at RMS since 1996 and is senior vice president and managing director of the Americas region, responsible for RMS sales and services activities in the U.S., Canada, Bermuda, the Caribbean, and Latin America. Before joining RMS, Mr. Keogh was engaged in various underwriting and marketing activities with AIG, NAC Re, and Swiss Re. His insurance industry experience includes extensive work in developing markets, including Eastern Europe and Latin America, as well as reinsurance in the domestic market. He is a graduate of Boston University with a B.A. in English Literature.

  • Matthew Grant, Senior VP, Managing Director of the International Region

Matthew Grant is senior vice president and managing director of the international region, responsible for RMS international sales and services activities. Since joining RMS in 1996, Mr. Grant has been involved in growing the RMS presence in Europe and Asia, providing the full range of RMS models and services to insurers, reinsurers, brokers, and the Lloyd's market. Mr. Grant has a degree in Mechanical Engineering.

Terrorist Risk Advisors Network

'A World-class Team of Advisors'

The development of the RMS® U.S. Terrorism Risk Model has involved the input of an extensive team of highly qualified advisors, all of which are authorities in their field of assessing terrorism threats.

Individual Contributors

Individual consultants who contributed to the development of the RMS® U.S. Terrorism Risk Model include the following:

  • Dr. Rohan Gunaratna Head of terrorism research, Institute of Defense & Strategic Studies, Nanyang Technological University, Singapore Terrorism threat from Al Qaeda and associated groups
  • Dr. Magnus Ranstorp Director, Centre for the Study of Terrorism and Political Violence, University of St. Andrew's Terrorism threats from Islamic militant groups and political violence in Middle East
  • Dr. Bruce Hoffman Vice president for external affairs and director, RAND Corporations, Washington, D.C. Terrorism risk in the U.S.
  • Dr. K. Jack Riley Director, RAND Public Safety and Justice Homeland Security
  • Dr. Robert Reville Director of the RAND Institute for Civil Justice Terrorism compensation & liability
  • Dr. Darius Lakdawalla Associate economist at RAND and a faculty research fellow at the National Bureau of Economic Research Probabilistic modeling and economics of terrorism risk
  • Dr. Brian Chow Senior physical scientist at RAND Loss modeling and the defense and control of terrorism weaponry
  • Dr. Greg Jones Senior defense policy analyst at RAND Chemical, biological, radiological, and nuclear weapons in terrorism
  • Dr. George Zanjani Economist in the capital markets function of the research and market analysis group of the [[Federal Reserve Bank of New York]. Economics of terrorism insurance
  • Dr. Brian A. Jackson Associate physical scientist at RAND Emergency response to terrorism incidents
  • Dr. Kim Cragin Associate international policy analyst at RAND Historical data on terrorism attacks
  • Dr. Gregory Treverton Senior policy analyst at RAND Terrorism, intelligence, and law enforcement
  • Dr. Lois Davis RAND Defense and security at targets
  • James Quinlivan Senior analyst at RAND Systems analysis research
  • Pete Baxter Director, global consultancy operations, Jane's Information Group Attack technology, logistical burden, and red teaming analysis
  • Michael Dell Director, Jane's Information Group Terrorism intelligence and news analysis
  • Mark Mateski Consultant and project manager, Jane's Information Group Red teaming, site security, and logistical burden
  • David Kuhn Jane's Information Group Weapons systems and unconventional attack operations
  • Charles Heyman Editor, Jane's World Armies, senior military advisor, Jane's Information Group Site security
  • Paul Mahoney & Laura Dake Jane's Information Group Security survey of New York skyscrapers
  • Roger Davies Hazard Management Solutions Ltd., editor of TRITON terrorist activity database Consultant on attack technology (RMS terrorism model 1.0), provider of data and reports (RMS terrorism model 2.0)
  • Dr. William Kastenberg Professor of nuclear engineering, University of California, Berkeley and member of the Advisory Committee on Nuclear Facility Safety for the U.S. DOE Nuclear power plant safety against terrorist attack
  • Rich Balzano Consultant, Jane's Information Group Nuclear power plant operations and security
  • Prof. Lawrence M. Wein Professor of management science at the Graduate School of Business, Stanford University Bioterrorism attacks and emergency response
  • Mark Sauder Consulting engineer Industrial facilities vulnerability
  • Malcolm Cowler Senior engineering analyst, Autodyn Use of computational fluid dynamics for blast modeling

Clients

Who We Serve

More than 400 insurers, reinsurers, trading companies, and other financial institutions rely on RMS to obtain the most complete view of their natural hazard risk. RMS products and services enable our clients to make informed decisions and improve bottom-line results on an ongoing basis. Our aim is to see clients achieve financial stability while optimizing profitability and growth.

Sample Client List

Ace Tempest Reinsurance, Ltd. | Aon Re Services Inc. | BP Energy, Inc. | Chubb & Son Division of Federal Insurance Group. | Copenhagen Reinsurance Co. | Danish Re | Fairfax Financial Holdings Ltd. | Financial Security Assurance, Inc. | Guideone Services LLC | Halifax General Insurance Services Ltd. | Hess Energy Trading Company, LLP | Holborn Corporation | Insurance Corporation of Hannover | Mapfre Re | Markel Corporation | Pause Insurance Services | Renaissance Re Holdings Ltd. | Risk Control Strategies of Marsh USA, Inc. | Scor U.S. Corporation | SIU Managers, LLC | Societe Generale | St. Paul Fire & Marine Ins. Co. | Swiss Re Underwriters Agency, Inc. | Tokio Millenium Re | Towers Perrin Reinsurance Company

Notes