Own Risk & Solvency Assessment (ORSA)
Online Course
COURSE INFO
An insurer that is subject to the Own Risk & Solvency Assessment (ORSA) requirements is expected to:
Regularly, no less than annually, conduct an ORSA to evaluate the adequacy of its risk management framework, along with current and estimated projected future solvency position;
Internally document the process and results of the assessment; and
Provide a confidential high-level ORSA Summary Report annually to the lead state commissioner if the insurer is a member of an insurance group and, upon request, to the domiciliary state regulator.
Are you well-versed in how to orchestrate cross functional collaboration that is needed to compile these in-depth documents and reports? This virtual workshop will cover ORSA requirements while participants create a project plan and timeline for the annual ORSA cycle. As an attendee, you’ll walk away with the knowledge and confidence to successfully handle this regulatory requirement.
MODULES
Module 1: ORSA Evolution
Module 2: Business Storyline
Module 3: ERM Footing
Module 4: ORSA Collaboration
Module 5: ORSA Synchronization
Module 6: ORSA Correlation
Module 7: Mind the Gaps
Module 8: Risk Assessment Methodology
Module 9: Solvency Quantitative & Qualitative Methods
Module 10: Model the Way Forward
Module 11: Build Simulated ORSA
Module 12: Foresee Challenges
WHAT YOU WILL LEARN
- The knowledge, skills and relationships learner needs to know for tasks/process steps to build ORSA Report.
- Resources and relationships within organization learner needs to facilitate/access to enable execution of ORSA Report assembly.
- Standards, metrics and guidelines learner needs to apply to draft ORSA Report and defend it with regulators.
Price | RIMS Members: $349 USD Non-Members: $499 USD | |
RIMS Core Competency Category | Risk Management Knowledge | |
Level | Senior | |
Language | English | |
Access | Available for six months after purchase |