Insurance Financial and Operational Risk Management - Searchlight Insurance Training

Insurance Financial and Operational Risk Management

Solvency II is putting risk management on the agenda for every insurer. There is also a business imperative for practical risk management to be integral in strategy and operational management.

Risk management will feature within every manager’s job description, and will impact on day to day responsibilities. Therefore it is becoming a core competence with it’s own language, processes and tools.

This core workshop introduces risk management to non-risk managers and professionals: what it is and how to do it.

Click “Check Availability” to find out which dates are available and make a booking or contact us on 01372 361177 or at . Alternatively, please let us know if you would like us to deliver this as an in-house workshop.

Level: Introduction

Duration: 1 day(s) CII CPD Hours: 6


•Explore categories of risks faced by insurers, and their consequences

•Summarise the basic principles of risk management

•Analyse and quantify risks

•Identify the fundamental processes and tools of risk management

•Assign key indicators to risks and their risk controls

•Differentiate between working capital, economic capital and solvency capital

•Assess the alternative ways of mitigating and/or funding risks

•Outline the responsibilities for risk management across the firm

•Introduce the concept of Enterprise Risk Management


•What is risk? Downside and opportunity risk. Where and how is a business vulnerable in its risk universe

•Where is risk inherent in the insurance process?

•Risk classifications: underwriting; market; credit; liquidity; group; operational; business; strategic; reputational

•Risk management principles and processes: risk appetite; identification; assessment; mitigation; reporting and monitoring

•Risk impact, frequency and volatility, and controllability…in your own areas of responsibility

•The role and use of the risk register

•Risk mitigation and risk funding buffers: working capital, solvency capital, and economic capital