Foundations and Quantitative Methods of ERM

Event Type
EAA - European Actuarial Academy GmbH

18th -21st February 2019



Barcelona, Spain

The European Actuarial Academy (EAA) is one of the main providers of actuarial education in Europe – especially when it comes to Enterprise Risk Management (ERM). The concept of ERM has gained significant momentum in the insurance industry and beyond.

They 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 four-day seminar consists of two parts. The first part of the seminar assists actuaries in broadening their knowledge about modern quantitative financial and actuarial modelling, which form an essential part of the CERA syllabus. This begins with an introduction to the modern theory of risk measures. Next, a number of statistical techniques are discussed, that are highly relevant for the analysis of actuarial and financial data and for the model-building process in risk management. Among others, we will consider extreme value theory, dependence modelling, copulas, and various aspects of integrated risk management. The seminar continues with an introduction to the modelling and the management of interest rate and credit risk. In particular, participants will learn how to price simple interest options or Credit Default Swaps, how to compute risk measures for a bond portfolio, and how to account for counterparty risk.

In the second part of the seminar, the topic Enterprise Risk Management is covered from a more qualitative viewpoint. This will allow participants to understand and handle the entire risk universe including non-quantifiable risks and those risks for which companies traditionally do not hold capital, but manage them in other ways. Topics discussed include the concepts of risk and ERM, an overview over the 42 central elements of ERM, and a session outlining how ERM creates value for any company. Furthermore, the risk management culture including risk consciousness, accountabilities, discipline, collaboration, incentive compensation and communication is presented together with governance issues including market conduct, audit and legal risk. This part of the seminar also explains stakeholders, standards, first steps in the choice of a suitable ERM framework.

The seminar is open to all persons who are interested to obtain comprehensive skills on Enterprise Risk Management.

Please register to take part in this up to date seminar on 18-21 February 2019 in Bacelona.

The fee for this CERA seminar (module A) is 1610 € plus 21 % VAT.

You may find all additional information in this print version as well as on our website where you will find the registration form. An overview on other upcoming events can be downloaded as well.