Actuaries: Stochastically

If you know an actuarial layman, give him or her a thrill by introducing him or her to James Tilley’s “An Actuarial Layman’s Guide to Building Stochastic Interest Rate Generators“, which was published to great or small acclaim in Transactions of the Society of Actuaries,  v. XLIV (1992), p. 509. It won the Society of Actuaries’ 1992-93 Annual Prize.

There is, perhaps stochastically, more than one James Tilley. Can your layman friend guess whether the one pictured here is the author of that paper?