Organised by the EAA - European Actuarial Academy GmbH.

Operational Risk is mostly seen as less significant. The attention in the Solvency II-regulations is not particularly high, if the relevance of the capital requirements for an effective risk management is concerned. The banking industry went through similar experiences. However, it is changing. Since the call of the Financial Stability Board in November 2012, supervisors are revisiting the regulations regarding operational risk. Some changes will significantly impact the industry. It is expected that the capital charges for operational risk will increase as well.

Except for the banking industry we also see significant changes in laws and regulations regarding the (life) insurance industry. Regulatory standards are still implemented. Legal claims in the financial industry have increased both in volume and impact. 

Reputational risk is now on the radar. The FCA’s (Financial Conduct Authority) central rule “treat your customer fair” shows the need to rebuild trust of the community in the financial industry and its products.

In this seminar we will focus on operational risk, the big cases, impact on the insurance industry and the magnitude of legal and reputational risk.

Actuaries, who are involved or interested in enterprise risk management or Own Risk Self Assessments.

Attendees are encouraged to bring a laptop computer with Microsoft Excel installed. 

The course will be conducted by the use of a case which will be solved in groups of participants. Topics are discussed interactively.

The language of the seminar will be English.

Dr Gerrit Jan van den Brink
Gerrit Jan is Head of Risk and Compliance of Standard Life Deutschland. Before he was Principal in the risk management practice of Accenture in Frankfurt am Main. In this role he advised financial industry institutions regarding the design and implementation of risk management frameworks and the implementation of methods and instruments. He was working before in a small self-owned company and was responsible for projects in the financial and power industry regarding longevity, operational, market, reputational and business risk. Before Gerrit Jan worked around 19 years in the banking industry and member of the management team and responsible for operations, CFO and internal auditor. He was a voting member of the credit committee. Gerrit Jan is lecturer at various universities in Germany and the Netherlands. He is a trainer at small master classes regarding various risk topics, product management and audit.