12/13 Apr 2021
Web Session: CERA, Module C: Processes in ERM
The European Actuarial Academy is one of the main providers of actuarial education – especially when it comes to Enterprise Risk Management (ERM). The concept of ERM has gained significant momentum in the insurance industry and beyond.
We offer a series of four training courses and exams (through DAV) to all actuaries who want to deepen their knowledge in Enterprise Risk Management and gain the international ERM-credential CERA. The defining characteristics of the CERA-credential as offered by the European Actuarial Academy are:
The Web Session ‘Processes in ERM’
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. We show how ERM can be appropriately imbedded in an entity’s strategic planning and discuss the Own Risk and Solvency Assessment. 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 web session we present case studies to discuss the main subjects.
The web session is open to all persons who are interested in obtaining comprehensive skills on Enterprise Risk Management.
Technical RequirementsPlease check with your IT department if your firewall and computer settings support web session participation. Please also make sure that you are joining the web session with a stable internet connection.
On 8 April 2021, 9:00 CEST, there will be a test session offered to all registered participants to test the software. This test session is mandatory.
Purpose and Nature
This web session 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 (online) trainings 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.
Julian BischofJulian, based in Frankfurt, is a senior manager within the risk and actuarial services team of EY. He has more than 15 years of experience in the insurance industry. As Solvency II project leader, Julian successfully implemented Solvency II at a German life insurance and at a German property and casualty insurance company. He used to work in the risk management department where he developed, in close cooperation with the company’s actuaries and asset managers, the risk management system for adherence with the requirements set out by the Solvency II regime. In addition, he established and lead through various ORSA processes and introduced modern business steering concepts, including (risk related) indicators. Additionally, he has gained extensive experiences during internal audits on the systems of governance and risk management systems of various insurance companies. In 2015 he got his MBA degree as well as a university certificate as risk manager. Julian fluently speaks German, English, and Dutch.
Jacques WasserfallJacques Wasserfall is the CEO of Württembergische Life & Health insurance in Stuttgart. Until 2020 he was responsible for the Zurich Germany Life insurance & Pension business in Bonn. 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.
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.