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Seminar Details
Programme
CPD Credits

CERA

21/22 Apr 2015 in Cologne

CERA, Module: Processes in ERM

CERA Education.

Over the last decade, the concept of Enterprise Risk Management (ERM) has gained significant momentum in the insurance industry and beyond. This came with the recognition of risk as being something not per se to be avoided, but to be optimally exploited in the frame of a company’s risk appetite. ERM is going beyond traditional risk management in that it is holistic, and encompasses strategic risk management as well as risk culture.

Many of these developments are reflected in regulatory changes, such as the MaRisk in Germany, or the upcoming Solvency II (although these focus on policyholder protection and less on opportunities). Solvency II will require an actuarial and a risk management function in all (re-)insurance undertakings. Actuaries should see this as an opportunity to broaden their role, and to show that they are ideally equipped to carry out these tasks.

Against this backdrop, in November 2009, several actuarial associations launched the CERA credential as a global risk management designation for actuaries. CERA pursues the following goals:

  • Strengthen international recognition of the actuarial profession’s enterprise risk management (ERM) expertise
  • Promote the development of more actuaries internationally with training in ERM
  • Present new opportunities for actuaries worldwide to use their expertise in an expanding range of areas
  • Send a strong message to employers and candidates that the skill set of actuaries offers significant risk management expertise

Based on the 2011-implemented education und examination system of the German Actuarial Association (DAV), the EAA offers a series of training courses and exams (through DAV) to study for the CERA designation to all actuaries who want to deepen their knowledge in Enterprise Risk Management.

By passing this training and examination course, members of the German Actuarial Association gain their CERA designation. Members of other actuarial associations have to get in touch with their association to check the possibility to use the EAA route.

The Seminar ‘ERM Processes'

This module deals with the challenges of implementing ERM Processes. It includes requirements on ERM Processes and the discussion of best practices. It will be presented how to define an organisation’s risk strategy, risk appetite, risk tolerances and limits. We discuss how business strategy influences risk strategy and show their necessary interaction. We demonstrate the close relationship between ERM and Value and Risk Based Management and show how financial and other risks influence the selection of strategy and how ERM can be appropriately imbedded in an entity’s strategic planning. We present the application of an internal risk control process. In the context of ERM reports to different stakeholders are required (management, supervisory body, regulators, public disclosure). We give an overview of the different reports and the main contents. Further we show examples of communication processes in the context of ERM. During the seminar we present case studies to discuss the main subjects. 

Participants

The seminar is open to all persons who are interested in obtaining comprehensive skills on Enterprise Risk Management.

During this seminar, you will not need a laptop.

Purpose and Nature

This seminar is one part in a course that consists of six modules. They can be booked as a whole series to fulfil the requirements for receiving the CERA designation, or individually as CPD training. Written exams on the course are offered subsequently.

Please contact your actuarial association regarding the recognition of the seminars and the exams. The national association has to be an Award Signatory of the CERA Global Association so that an actuary who passes this course may receive the CERA credential.

Language

The language of the seminar will be English. The exam will be, as per your preference, in German or English (to be chosen onsite).

Lecturers

Dr Dorothea Diers
Dorothea Diers heads Risk Controlling at Provinzial Nord West Holding AG. In this role she is responsible for the Solvency II implementation (three pillars, group-wide), reserving and the Non-Life DFA Model. She is lecturer at University of Ulm in Actuarial Science and Risk Management. Dorothea Diers studied Mathematics at University of Muenster graduating and holding a PhD in mathematics. She is a qualified actuary (Aktuar DAV) and CERA, and chairs DAV’s working group “Internal Models Non-Life”. Dorothea Diers has published research papers in leading international academic journals (Risk Management) and has given seminars at international conferences and for DAV and EAA.

Alexander Fritsch
Alexander Fritsch has been working for Hannover Re since 2005 in the area of Group Risk Management. He is currently concerned with the Internal Model and Solvency II. In an earlier role he was a member of the Catastrophe Risk Management team. Alexander holds a German diploma in business mathematics from the University of Ulm as well as a Master of Science in Actuarial Science from the University of Kent (UK). He is a member of the DAV and holds the CERA title. He has been a lecturer for DAV in the CERA context since 2013.

Luisa Papaspyrou
Manager at EY, has been working in the insurance industry since 2005 as consultant and project manager roles. Her areas of expertise include Solvency II Governance, Internal Control Frameworks as well as project management of regulatory and reorganization projects.

Andreas Schlögl
Andreas Schlögl is the Head of Group Non-Life UW Risk Management at Generali Group working out of Milan. In this role he is responsible for all the Group Non-Life Capital Models, Catastrophe Risk Management and Business Support. Prior he used to work for a global consulting company and a large reinsurance company having a different set of responsibilities in Enterprise Risk Management methodology and processes. He holds a diploma in business mathematics from the University of Augsburg, is member of the DAV and holds the title as CERA. He acted as a lecturer for DAV and EAA in various trainings for ORSA and Internal Models.

Jacques Wasserfall
Jacques Wasserfall is the Chief Life Actuary of Zurich Germany Life Insurance Business in Bonn. In this role he is responsible for reserving, solvency and value-based management of the Life Insurance Business. Prior he used to work for a global consulting company and a large reinsurance company having a different set of responsibilities in Enterprise Risk Management methodology and processes. He holds a bachelor of commerce from the University of Stellenbosch / South Africa. He holds the title as CERA and is a member of the German Institute of Actuaries (DAV) as well as of the Faculty & Institute of Actuaries in London (FIA) and of the Actuarial Society of South Africa (ASSA). He acted as a lecturer for DAV and EAA in various trainings for risk and value-based management.

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Seminar Details
Programme
CPD Credits

Venue & Accommodation

The seminar will take place at the

Leonardo Royal Hotel Köln am Stadtwald
Dürener Straße 287,
50935 Cologne, Germany
Phone: +49 221 46760
Fax: +49 221 433765
Hotel website

 

We arranged special prices for accommodation. The special price is 110 € per night, including breakfast. It is valid for bookings by 23 March 2015 out of our allotment “EAA”. Kindly book your accommodation as soon as possible directly with the hotel, as our allotment includes only a limited number of rooms, and note the hotel’s cancellation policy.

CERA Exams

The CERA exams are organised by the Deutsche Aktu​arvereinigung e. V. (German Association of Actuaries) in German and English. View details.
For further information and exam registrations, please contact Tim Kampmann at tim.kampmann@aktuar.de. If this would be your first CERA exam, please kindly send a certificate confirming that you are a full member of your actuarial association via e-mail in addition.

​

Visitor address:
EAA – European Actuarial Academy
Hohenstaufenring 47-51
50674 Cologne | Germany

Phone: +49 221 912554-340
Fax: +49 221 912554-9340
contact@actuarial-academy.com
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