RISK MANAGEMENT AND SOLVENCY

Assessment method:

Exam: 120 Min. (6 CP)




Recommended prior knowledge:

Sustainable Finance





Examination requirements:

• Document a knowledge and understanding of the functions and instruments of risk management and of the valuation of risk potentials,


• demonstrate a knowledge and understanding of quantitative and qualitative requirements of the solvency regime,


• demonstrate a knowledge and understanding of market consistent valuation within solvency, HGB,IFRS,


• demonstrate the ability for simple calculations with regard to risk management and solvency.

Qualification objectives/skills:

• Knowledge and understanding of the functions and elements of a risk management system, of the risk potentials and its valuation of an insurance company,


• knowledge of the legal requirements regarding risk management and solvency, especially Solvency II,


• knowledge of the relevant techniques used in risk management of an insurance company (stress tests, ALM, Embedded Value, actuarial analysis, Value Based Management),


• understanding of the relevant methods used in the balance sheet of an insurance company (HGB, IFRS, solvency balance sheet),


• ability to develop simple task settings independently with regard to risk management and solvency.

Lecture Content:

• Role and components of a risk management system


• Legal requirements: MaRisk, stress tests, actuarial reporting, market consistent valuation (IFRS)


• Solvency requirements (Solvency I, Solvency II)


• Value Based Management, Embedded Value, Asset Liability Management (ALM)