Three Pre-Symposium Seminars

Take part in one of the valuable seminars taking place prior to the
Symposium and receive hands-on experience while being guided by
leaders in ERM.

Agenda at a Glance for Each Seminar

7:00 a.m. – 8:00 a.m. Registration and Continental Breakfast
8:00 a.m. – 12:00 p.m. Seminar I
10:30 a.m. – 12:00 p.m. Seminar II
12:00 p.m. – 1:00 p.m. Luncheon for Seminar I and II
1:00 p.m.– 5:00 p.m. Seminars I, II and III

PLEASE NOTE: The registration fee for each seminar is a separate cost
from the 2016 ERM Symposium registration fee.

Seminar I: Masterclass in Value and Capital Management (8:00 a.m.
– 5:00 p.m. including lunch)

Creating value is challenging in any highly competitive industry: a daily battle to capture market share, defend margins and improve expenses. Managing value in insurance is even more challenging due to the unique role that risk and capital play in the economics of the business: whereas most industrial corporations actively avoid risk, there can be no return to shareholders – and no satisfied customers – if insurers avoid risk, and taking risks requires capital. In insurance, risk and capital management and value management are synonymous.

The roles of the Chief Financial Officer (CFO) and Chief Risk Officer (CRO) have evolved and adapted to this economic reality. Modern finance and risk functions now have substantial influence on strategy and operations and, through these, the value of their firms. This influence comes in part from being a business partner and in part through the activities directly within their responsibility.

This Masterclass is intended as a practical but theoretically grounded overview for how finance and risk professionals can better manage capital and value. The course itself is structured around three broad themes in four sessions: Better Information – Measuring Value; Better Insights – Managing Value; and Better Decisions – Capital, Balance Sheet and Risk Management.

Learning objectives:

  • Enhance ability of finance and risk professionals, including CFOs and CROs, who are active in strategic planning and performance management, financial management, risk underwriting and risk management to increase the value of their companies.
  • Understand how the business and value creation look “through a finance and risk lens.”
  • Bridge the gulf between financial theory and the practical realities of managing value in banks and insurance companies.

Seminar Leader: Tom Wilson, Chief Risk Officer, Allianz SE Group
Risk and Author, Value and Capital Management:
A Handbook for the Finance and Risk Functions
of Financial Institutions

Seminar II: From Latest Buzzword to Increased Competence in a
Volatile World: Just What is Integrative, Holistic Assessment, and
How the Heck Do You Do it? (10:30 a.m. – 5:00 p.m. including


Seminar III: Model Governance: What Could Possibly Go Wrong?
(1:00 – 5:00 p.m.)

The session will commence with time to analyze the prepared
materials and then a facilitated plenary discussion to develop greater
understanding. The prepared materials are mocked-up based on real
case studies of single insurers and national and international insurance
groups and include (a) board agenda and papers relating to ECM (b)
proposals for ECM design (c) numerical examples of parameterization
(d) extracts for several distinct uses of the ECM (e) validation results
(f) samples of internal and external audit review (g) historical threads
of emails between individuals in the case study insurer’s management
team (h) external analyst and rating agencies reports. Teams will be
formed and then, in teams, participants will analyze the weaknesses or
failures and make recommendations for improving model governance.

Teams will present taking turns, with other teams scrutinizing and
challenged those recommendations. The scrutinizers will role-play
in the capacities of Group (parent) management and State regulators.
The session will close again in plenary session to summarize the
findings and learnings.

Learning objectives:

  • Appreciate importance of governance in model design, build and
  • Learn from examples of what can go wrong
  • Have ideas of successful ways to control models in both development
    and business-as-usual (BAU) situations

Seminar Leaders: David Payne, Senior Manager, Ernst & Young,
and David Paul, Executive Director, Ernst &

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