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This course covers the motivations and techniques for risk and capital management in financial institutions, including insurers, reinsurers, superannuation funds, and banks and the major types of risks encountered. Topics covered include economic and regulatory capital; regulatory frameworks for banks and insurers; quantitative and qualitative issues of measuring and management of market risk, credit risk, interest rate risk, operational risk, liquidity risk and model risk, with particular emphasis on data issues met when quantifying those risks; scenario analysis and stress testing methods.
Together with ACTL5301 it is designed to cover the course topics for the professional actuarial Enterprise Risk Management / CERA qualification.