INARM

The global actuarial profession has confirmed it is hosting its third global enterprise risk management (ERM) webinar on 1 December , 2009 with Tom Wilson, Allianz’s chief risk officer, confirmed as one of this year’s European keynote speakers.

The global actuarial profession ERM webinar will run over an 18-hour period with sessions in Asia, Europe and Africa and finally the US and the rest of the Americas. Each region will have its own set of speakers — two for each session — but will stick to the same four topics.

The event is not for profit, so entry costs will be kept as low as possible, the organizers have said. Last year the event attracted over 1,000 delegates around the world.

The sessions will be:

Value creation vs. systemic risk: how do you reconcile systemic risk, the key concern for regulators worldwide in the wake of the 2008 financial crisis, with the insurance sector’s need to create value for its shareholders?

Approaches to ERM and capital models: how are stakeholders including insurers, banks, regulators and rating agencies approaching the development of an ERM / economic capital model (ECM) framework? What is the capacity of the stakeholders to understand and assess a potentially more sophisticated ECM framework? Is a regulatory system requiring capital models sufficient and viable?

Economic capital models: design, calibration, validation and updating: what does best practice look like and how do we assess the limitations of an ECM? What is the trade-off between model efficiency and model accuracy? What is best practice for integrating an ECM with the strategic planning of an insurance business?

Governance, strategic risk and operational risk: will consider issues such as ERM governance, tools and techniques to assess strategic and operational risks and their integration into an overall ERM framework. In addition, the Asia region session will provide in-depth discussions of ERM in the pension industry.

More details on registration will be available shortly.