The ORA under IORP II: From EU Landscape to Board Conclusions

Introduction & Programme

This web session provides a structured and practical walkthrough of the Own Risk Assessment (ORA) under IORP II.

We begin with a concise overview of the European pension landscape and supervisory expectations, followed by a clear comparison between ORA and ORSA.

The core of the session focuses on the practical building blocks of a robust ORA:

• linking strategy to risk identification
• assessing risk appetite and risk-bearing capacity
• applying scenario analysis, stress testing and reverse stress testing
• defining management actions and trigger frameworks
• formulating defensible board conclusions

The emphasis throughout is on practical implementation and producing ORA outcomes that are coherent, defensible and aligned with board responsibility.

Preliminary Programme
Thursday, 5 November 2026
09:30–10:30  Overview of Occupational Pension Funds in the EU
• Diversity of IORPs across Member States
• Supervisory landscape and proportionality
• Governance expectations under IORP II
10:30–10:45  Break
10:45–12:15  ORA vs. ORSA
• Legal framework comparison (IORP II vs. Solvency II)
• Governance-driven vs. capital-driven models
• Supervisory implications

Friday, 6 November 2026
09:30–10:30  The Building Blocks of the ORA
• Strategy as starting point
• Risk identification
• Risk appetite vs. risk profile
• Risk-bearing capacity
10:30–10:45  Break
10:45–12:15  Scenario Analysis, Governance & Conclusions
• Scenario analysis
• Stress testing
• Reverse stress testing
• Management actions and trigger frameworks
• Effectiveness of risk management
• Board responsibility
• Formulating ORA conclusions

All the above times are given in CET (Central European Time).

Learning Objectives & Approach

Participants will:

• Understand the European occupational pension landscape
• Comprehend supervisory expectations under IORP II
• Distinguish clearly between ORA and ORSA
• Analyse the interaction between strategy, risk appetite and risk-bearing capacity
• Apply scenario analysis, stress testing and reverse stress testing in an ORA context
• Identify appropriate management actions and trigger mechanisms
• Formulate robust and defensible ORA conclusions

The session combines regulatory context, conceptual clarity and practical implementation experience.

Participants

This web session is suitable for:

• Pension fund board members
• Risk managers
• Actuaries
• Compliance officers
• Supervisory board members
• Consultants advising IORPs

A general understanding of pension fund governance and risk management is recommended.

Technical Requirements
Please check with your IT department if your firewall and computer settings support web session participation (the programme Zoom will be used for this online training). Please also make sure to join the web session with a stable internet connection.

Lecturers

Servaas Houben
Servaas is an internationally experienced actuary (FIA) and financial professional (CFA, FRM) with a strong track record across multiple insurance markets. He specializes in actuarial transformation, IFRS 17, Solvency II, risk and capital management, and data driven decision support. His career spans Belgium, the Netherlands, the UK, Ireland, and the Caribbean, where he led actuarial teams, improved reporting processes, and delivered insights that support strategic and financial performance. He also contributes regularly to actuarial publications and serve in leadership roles within CFA Belgium.

Kees van Heugten
Kees van Heugten is a mathematician and actuary with extensive experience in enterprise risk management. Following the introduction of Solvency II, he supported insurance companies in implementing and further developing the ORSA framework. Building on this experience, he assisted pension funds in developing and strengthening their Own Risk Assessment (ORA), including large Dutch funds such as ABP and PME. He dedicated his thesis to the ORA framework and graduated cum laude, earning the CERA designation.

Language & CPD Credits

The language of the web session will be English.

CPD Credits
For this web session, the following CPD credits are available under the CPD scheme of the relevant national actuarial association:

• Austria: 5 points
• Belgium:  5 points
• Bulgaria:  8 points
• Croatia: individual accreditation
• Czechia:  5 hours
• Denmark: 6 credits
• Estonia:  5 hours
• Finland: 4.5 points
• France:  30 points
• Germany:  6 hours
• Greece: 7 points
• Hungary:  5 hours
• Iceland: 5 credits
• Ireland: 5 hoursItaly: individual accreditation
• Latvia: 5 hours
• Lithuania: 5 hours
• Netherlands:  approx. 5 points (individual accreditation)
• Norway: 5 points
• Poland: 5 hours
• Portugal: 5 hours
• Serbia: 5 hoursSlovakia:  individual accreditation
• Slovenia:  individual accreditation
• Spain: CAC: 5 hours, IAE: 5 hours
• Switzerland:  individual accreditation
• USA: SOA (Section B): up to 6.0 hours

No responsibility is taken for the accuracy of this information.

Fees & Registration Details

Early Bird Registration Fee (until 24 September 2026):

• For private customers in the EU: €400.00 + VAT of the billing country (example Germany: €476.00 incl. 19% VAT)
• For private customers outside the EU: €476.00 (incl. 19% VAT)
• For businesses within the EU (excl. Germany, with valid VAT ID): €400.00 (net, reverse charge applies)
• For businesses in Germany: €476.00 (incl. 19% VAT)

Regular Registration Fee (from 25 September 2026):

• For private customers in the EU: €525.00 + VAT of the billing country (example Germany: €624.75 incl. 19% VAT)
• For private customers outside the EU: €624.75 (incl. 19% VAT)
• For businesses within the EU (excl. Germany, with valid VAT ID): €525.00 (net, reverse charge applies)
• For businesses in Germany: €624.75 (incl. 19% VAT)

Important VAT Information:

• For private customers with a billing address in an EU country: VAT will be charged at the applicable rate in the country of the billing address. The final amount, including VAT, will be calculated upon invoicing.
• For customers with a non-EU (third country) billing address: Only a non-company billing address is accepted for VAT compliance reasons. 19% VAT applies to all non-EU private customers.
• For businesses within the EU (excluding Germany), Iceland, Liechtenstein, Norway, Switzerland, and the UK with a valid VAT ID: The reverse charge mechanism applies (net price; VAT will not be charged). Please ensure your valid VAT ID is entered correctly during registration.
• For all customers with a billing address in Germany: 19% VAT applies.

Please submit your registration using our online form below. Closer to the event, you will receive further login details to join the web session.

Your registration is binding. Cancellation is only possible up to 2 weeks before the first day of the event. If you cancel later, the full participation fee is due. You may appoint someone to take your place but must notify us in advance. EAA has the right to cancel the event if the minimum number of participants is not reached.

We will send you an invoice via email. Please allow a few days for handling. Please always give your invoice number when you effect payment. All bank charges are to be borne by the participant.

Registration is open until two working days before the web session. If registration has already been closed for this web session, please call us or send an email to contact@actuarial-academy.com in order to find out whether a late registration is still possible.