PUNE
P723-
SPECIAL PROGRAMME ON ENTERPRISE RISK MANAGEMENT(ERM) (LIFE)
(2023-24)
Background:
IFRS-17
envisaged to be implemented in India in the near future will have its own impact
on all Insurers. Thus it is very imperative for the Life Insurance Industry to
start preparing for a robust ERM/TRM framework for the continued success of the
business as well as for being fully compliant with the regulations.
Ø
Concept of ERM
and the global standards
Ø
Risk Based
Capital Solvency – It’s implications on ERM and Insurance Business
Ø
Define Risk
Appetite for the company and Integrate Business Strategy into ERM
Ø
Identification
of Key Risks and quantifying them in Life Insurance Business
Ø
Assessment of
Operational Risks including Cyber Risk and Reputation Risks
Ø
Risk Mitigation
Strategies and Risk Transfer methods
Ø
Operational
Issues in Implementation of ERM
Ø
Introduction to
ERM and the current standards for its implementation
Ø
Evolving a
Business Strategy from the Mission ,Vision, Strategic objectives
Ø
Business
Strategy and ERM – Aligning Business strategy with ERM strategy
Ø
Assessment of
Insurance Business Risk
Ø
Identification
of risks and risk register
Ø
Risk Management
Policy
Ø
Risk tolerance
statement
Ø
Assessment of
Market Risk (Investment Risks) including Credit Risk & ALM
Ø
Capital
Management
Ø
ORSA
Ø
Continuity
Analysis and Stress Testing
Ø
TRM Framework
Ø
Management of
Operational Risks including Cyber Risks and Reputation Risks
Ø
Risk Governance
Ø
Risk Control
Measures and Risk Mitigation Tools
Ø
Risk
Responsiveness and Feedback Loop
Ø
Operational
Issues in ERM Implementation including Embedding risk culture
Ø
Risk Based
Solvency and its implications on Insurance Business
Ø
Business
Continuity Plan.
Participants Profile:
ERM Nodal
Officers from DO/ZO & to be nominated by ZO HRD/CO-HRD/CO ERM department
Duration:
3 days
Dates:
I.
25.10.2023-27.10.2023
II.
06.11.2023-08.11.2023
III.
27.12.2023-29.12.2023
IV.
20.02.2024-22.02.2024