29/30 Mar 2017 in Zagreb
CERA, Module D: ERM – Economic Capital
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 Solvency II (although these focus on policyholder protection and less on opportunities). Solvency II requires 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:
Based on the 2011-implemented education und examination system of the German Actuarial Association, 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 national actuarial associations have to get in touch with their association to check the possibilities to use the EAA route.
The Seminar ‘ERM – Economic Capital’
The present seminar is concerned with the question of economic capital in corporate management.
Key aspects are
A case study for a German life insurer shows in a nutshell the central aspects of corporate management in practice.
The course consists of lectures and workshops. Participants are encouraged to bring their own topics to discussion.
Organised by the EAA - European Actuarial Academy GmbH in cooperation with the Hrvatsko Aktuarsko Drustvo.
The seminar is open to anybody who is interested in obtaining comprehensive skills on Enterprise Risk Management. The seminar is suitable for actuaries who deal with the issue of corporate control from a risk management perspective.
During this seminar, you will not need your laptop.
Purpose and Nature
This seminar is one part in a course that consists of four 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 at least Acceding Party of the CERA Global Association so that an actuary who passes this course may receive the CERA credential. Please visit www.ceraglobal.org to get information if your association is entitled to issue the CERA designation.
The language of the seminar will be English. The exam will be, as per your preference, in German or English (to be chosen onsite).
Dr Martin Leitz-MartiniMartin Leitz-Martini is Head of Risk Management at Süddeutsche Krankenversicherung. He holds a diploma in mathematics from University of Leipzig and a PhD from University of Tübingen. In previous positions he was in Allianz Lebensversicherung, Württembergische Versicherung and Nationale Suisse, Switzerland. Martin worked in risk management, in actuarial teams as well as in accounting and controlling. He is a member of the German Actuarial Association and the Swiss Actuarial Association.
Benedikt SchierlBenedikt Schierl is an actuarial Consultant at BELTIOS GmbH. He holds a diploma in mathematics from LMU Munich. Benedikt worked in several Projects on ALM- and Projection-Tools. He is a member of the German Actuarial Association.
Dr Thomas ViehmannThomas Viehmann is a consulting actuary at B&W Deloitte in Munich. He develops models for valuation and risk measurement, in particular in the context of Solvency II and ALM. An additional focus of his work is on capital market and asset modelling for insurance and non-parametric Bayesian regression models for nested stochastics. Thomas has a Ph.D. in mathematics from the University of Bonn and is a member of the German Actuarial Association.
Dr Markus WadéMarkus Wadé is a Senior Risk Manager in the Group Accumulation and Emerging Risk team at Munich Re. He is responsible for developing accumulation and stress test scenarios for Munich Re’s global business operations. Another focus of his work is the refinement of risk identification tools and methods. Before joining Munich Re, Markus worked about ten years in quantitative credit risk management in various financial institutions. He holds a PhD for a thesis about the estimation of country risks for credit portfolio models. Markus studied economics at the University of Regensburg and Wesleyan University (USA).
Venue & Accommodation
The seminar will take place at the hotel
ARCOTEL Allegra ZagrebBranimirova 29, 10000 Zagreb, CroatiaTel.: +385 1 4696 000Fax: +385 1 4696 096www.arcotelhotels.com/en/allegra
We have arranged special prices for accommodation. A single room costs 80 € per night, including breakfast and VAT, excl. city tax (0,95 € per person and night). This price is valid for bookings out of our allotment “EAA Seminar” until 13 March 2017. Please book your accommodation directly with the hotel. Kindly book early, as our allotment includes a limited number of rooms, and note the hotel’s cancellation policy.
The CERA exams are organised by the Deutsche Aktuarvereinigung e. V. (German Association of Actuaries) in German and English.
For further information and exam registrations, please contact Tim Kampmann at
firstname.lastname@example.org. 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.