CERA, Module C: Processes in ERM

Introduction & Programme

CERA Education

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:

• Provides the most comprehensive and rigorous training in ERM
• Is a fast-growing globally-recognised credential
• Combines a range of business and professional skills with the mathematics of finance and risk
• Equips risk management professionals to empower better business decisions and more profitable business development
• Has a wide range of applications in insurance and finance, and well beyond
• Is supported by actuarial associations worldwide
• Is recognised and transferable internationally
• Has a rigorous and advanced curriculum underpinned by actuarial science, with an emphasis on ERM and professionalism
• Offers career choices outside the traditional actuarial markets

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.

Preliminary Programme
Thursday, 25 February 2027
09.00 – 10.30 Block 1 - SFCR: Risk profile and governance
10.30 – 11.00  Break
11.00 – 12.30  Block 1 - SFCR: Risk profile and governance
12.30 – 13.30  Break
13.30 – 15.00 Block 2 - Risk management processes and organisation
15.00 – 15.30 Break
15.30 – 17.00 Block 2 - Risk management processes and organisation

Friday, 26 February 2027
08.30 – 10.00 Block 3 – Risk management standards: Principles and stakeholders
10.00 – 10.30 Break
10.30 – 12.00 Block 3 – Risk management standards: Principles and stakeholders
12.00 – 13.00 Break
13.00 – 14.45 Block 4 - Own Risk and Solvency Assessment (ORSA): Elements, methods, processes
14.45 – 15.15 Break
15.15 – 17.00 Block 4 - Own Risk and Solvency Assessment (ORSA): Elements, methods, processes
All the above times are given in CET (Central European Time).

Learning Objectives & Approach

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.

Participants

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

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

Julian Bischof
Julian, based in Frankfurt a.M., has more than 20 years of experience in the insurance industry. As Associate Partner, Julian heads the risk management and the sustainability team of Wavestone Germany. As a project leader, Julian successfully implemented Solvency II at various primary insurers and reinsurers. He regularly performs maturity analyses and improves risk management systems of (re)insurers. This includes amongst others evolving (ICT) risk management systems to improve (digital) operational resilience, to deal with sustainability risks, as well as to manage third party (cyber) risks and AI related risks. In addition, he established and lead through various ORSA processes and introduced modern business steering concepts, including (risk related) indicators. Prior to this function, he used to work within the risk and actuarial team of EY and in the risk management department of an international life insurer. Additionally, he has gained extensive experiences during internal audits on the systems of governance and risk management systems of various insurers. In 2015 he got his MBA degree as well as a university certificate as risk manager. Julian fluently speaks German, English, and Dutch.

Marc Linde
Marc is an expert for business support and actuarial valuation with the risk management department of Generali Deutschland AG. He has more than 15 years of experience in the insurance industry. Prior to Generali Deutschland, Marc has worked as a senior manager for actuarial consultancy BELTIOS P&C where he led Solvency II implementation projects for multinational insurance groups as well as small and medium-sized insurance non-life companies. In this role, he supported Internal Model application processes, implementation of Actuarial and Risk Management Functions and related valuation and reporting processes to meet Solvency II requirements across all pillars. He is a qualified actuary and fellow of the German association of Actuaries (DAV). Marc is member of the Non-Life Internal Model and ORSA working groups of DAV. He speaks German and English fluently.

Jacques Wasserfall
Jacques 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.

Language & CPD Credits

The language of the web session will be English.
The exams will be, by your preference, in German or English. Please choose the language during the booking process. The exams are also available in Spanish for the members of the Instituto de Actuarios Españoles (Spanish Institute of Actuaries).

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

• Austria:  12 points
• Belgium:  12 points
• Bulgaria:  15 points
• Croatia: individual accreditation
• Czech Republic:  12 hours
• Denmark: 13 credits
• Estonia:  12 hours
• Finland: 8 points
• France: 72 points
• Germany:  13 hours
• Greece: 16 points
• Hungary:  12 hours
• Iceland:  12 credits
• Ireland: 12 hours
• Italy:  approx. 4 credits (individual accreditation)
• Latvia: 12 hours
• Lithuania: 12 hours
• Netherlands:  approx. 12.5 PE-points (individual accreditation)
• Norway: 12 points
• Poland: 12 hours
• Portugal: 12 hours
• Serbia: 5 hours
• Slovakia:  8 points
• Slovenia:  50 points
• Spain (CAC): 12 hours
• Spain (IAE): 12 hours
• Switzerland:  15 points
• USA: SOA (Section B): up to 14.40 hours

No responsibility is taken for the accuracy of this information.

Fees & Registration Details

Early Bird Registration Fee (until 14 January 2027):

• For private customers in the EU: €650.00 + VAT of the billing country (example Germany: €773.50 incl. 19% VAT)
• For private customers outside the EU: €773.50 (incl. 19% VAT)
• For businesses within the EU (excl. Germany, with valid VAT ID): €650.00 (net, reverse charge applies)
• For businesses in Germany: €773.50 (incl. 19% VAT)

Regular Registration Fee (from 15 January 2027):

• For private customers in the EU: €720.00 + VAT of the billing country (example Germany: €856.80 incl. 19% VAT)
• For private customers outside the EU: €856.80 (incl. 19% VAT)
• For businesses within the EU (excl. Germany, with valid VAT ID): €720.00 (net, reverse charge applies)
• For businesses in Germany: €856.80 (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 4 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.