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Certificate in Risk Management for Insurance
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Overview
This course has been jointly developed by IRM, ESA Business School and Corporate Risk Management Institute (CRMI) and provides participants with a general understanding and overview of Risk Management Frameworks implemented in the insurance industries in line with best practices and international standards.
Taught by practising professionals with strong academic backgrounds, the course will allow participants to identify, assess, measure, monitor and mitigate both potential financial and non-financial risks in a practical way using relevant industry case studies. Also, the course covers significant parts of the compliance and regulatory requirements based on participants’ location.
After completing the certificate, participants will have course materials that they can refer to, to help manage the critical risks faced by insurance and reinsurance companies.
Learning Objectives
- Understand the fundamentals of risk management within the insurance and reinsurance industry
- Learn how to use key techniques to identify, analyse, and respond to a variety of risks, both internal and external to companies using real-world examples
- Evaluate the impact and rationale for designing an effective risk management strategy aligned with an organisation’s corporate governance principles and regulations
- Develop the skills to create your Own Risk and Solvency Assessment (ORSA) reports that are tailored to the insurance industry, along with recovery resolution plans
Who should attend?
- Risk Managers, Internal Auditors, and Legal and Compliance professionals within the insurance and reinsurance industry
- Consultants and Regulators looking to specialise in enterprise risk management within the insurance and reinsurance sector
- Stakeholders (Board Members, Executive Management, and Underwriters) involved in the formulation, implementation, and enhancements of risk management frameworks within an organisation
- Applicants looking for a career in Governance, Risk and Compliance (GRC) department within the insurance and reinsurance industry
Agenda
| Module | Topic |
| Module 1: | Principles of risk and risk management |
| Module 2: | Risk management in insurance |
| Module 3: | Risk culture |
| Module 4: | Risk strategy and framework |
| Module 5: | Quantitative methods for risk management in insurance |
| Module 6: | ORSA - stress testing, capital solvency and liquidity |
| Module 7: | Case studies |