Actuarial Enterprise Risk Management

lactu2260  2020-2021  Louvain-la-Neuve

Actuarial Enterprise Risk Management
Due to the COVID-19 crisis, the information below is subject to change, in particular that concerning the teaching mode (presential, distance or in a comodal or hybrid format).
3 credits
15.0 h
Q2
Teacher(s)
De Longueville Philippe;
Language
English
Prerequisites

The prerequisite(s) for this Teaching Unit (Unité d’enseignement – UE) for the programmes/courses that offer this Teaching Unit are specified at the end of this sheet.
Main themes
Enterprise Risk Management.
Aims

At the end of this learning unit, the student is able to :

1 Contribution of the course to learning outcomes in the Master in Actuarial Sciences programme. By the end of this activity, students will have made progress in:
  • As a priority, the following LO: 1.2, 1.6, 1.7, 2.1
  • In a secondary way the following LO: 2.2, 2.4, 3.1, 3.3
At the end of the course, the students will be able to:
  • Identify, analyse, measure and mitigate the risks faced by a ((re)insurance) company
  • Understand how different risks interact
  • Understand the governance aspects of risk management
  • Make the link between different areas of the actuarial sciences
 
Content
Introduction
Chapter 1: Risk Management in Context
  • Introduction
  • Lessons learned
  • Concepts and Processes
Chapter 2: Corporate governance
  • Corporate governance – general
  • Best practices
  • Linking corporate governance and ERM
  • Corporate governance and Solvency II
  • The Risk Management function – the CRO
Chapter 3: Risk Management Applications
  • Own Risk and Solvency Assessment (ORSA)
  • Optimal reinsurance
  • Project management
Chapter 4: Case study
Teaching methods

Due to the COVID-19 crisis, the information in this section is particularly likely to change.

The course consists of 7 courses, extra readings (discussed during the courses), a case study and a Q&A session at the end.
Evaluation methods

Due to the COVID-19 crisis, the information in this section is particularly likely to change.

Written examination and case study.
Bibliography
  • Lam, J. (2000). Enterprise Risk Management, From Incentives to Controls, second edition, Wiley, 2014.
  • Regulatory texts (Solvency II directive, BNB circulars…)
  • Practical insurance and reinsurance experience
Faculty or entity
LSBA


Programmes / formations proposant cette unité d'enseignement (UE)

Title of the programme
Sigle
Credits
Prerequisites
Aims
Master [120] in Actuarial Science