Finance and Banking

Managing Insurance Contract Accounting Under Modern Standards

Turn insurance contract accounting from a stated policy into a practice your organisation can evidence.

  • 5training days
  • 4modules
  • 8sessions
  • 32topics
View packages and pricesCourse outline
Managing Insurance Contract Accounting Under Modern Standards
5days

About the programme

Course Overview

In finance the difference between a healthy position on insurance contract accounting and a dangerous one is often a single assumption. Models supporting the practice within financial and banking practice fail quietly, and usually at the worst moment. Participants leave with a method for this area of financial and banking practice, not a set of opinions about it. It is pitched for practitioners with responsibility for insurance contract accounting, not for observers of it. Each session closes with a decision the participant must justify about the practice within financial and banking practice in their own setting. The result is the confidence to make and defend decisions about the financial and banking practice discipline under scrutiny. Mature organisations treat insurance contract accounting as a standing capability rather than a project that finishes. Progress on this part of financial and banking practice is usually lost in the gap between approval and execution. Participants leave with a plan for this aspect of financial and banking practice sized to what their organisation can realistically absorb.

Expected Learning Outcomes

  • Identify the failure points in insurance contract accounting most likely to cause loss, and control them first.

  • Adapt recognised practice on insurance contract accounting to local constraints without hollowing it out.

  • Plan the remediation route when a weakness in insurance contract accounting is identified.

  • Establish the segregation of duties required around insurance contract accounting.

  • Price insurance contract accounting to reflect the risk actually being taken.

  • Sequence improvements to insurance contract accounting so that each step makes the next one easier.

  • Validate the assumptions inside any model supporting insurance contract accounting.

Who Should Attend

  • Treasury and asset-liability staff managing insurance contract accounting.

  • Consultants and advisers supporting clients on insurance contract accounting.

  • Regulatory reporting analysts covering insurance contract accounting.

  • Operations staff executing and settling insurance contract accounting.

  • Compliance officers overseeing insurance contract accounting.

  • Newly appointed managers taking on insurance contract accounting for the first time.

Course Modules

Open any module to see its sessions and topics.

01

Insurance contract accounting: capital, liquidity and balance sheet effect

2 sessions · 8 points

Session 1Setting a limit on insurance contract accounting that will actually be respected

  • Prepare the summary of insurance contract accounting that senior management will read.
  • Verify reconciliation and settlement controls covering insurance contract accounting.
  • Plan the sequence in which improvements to insurance contract accounting will be introduced.
  • Define acceptance criteria for insurance contract accounting in advance.

Session 2Reporting insurance contract accounting so the reader can act on it

  • Document the remediation plan for each known weakness in insurance contract accounting.
  • Prepare the evidence pack demonstrating insurance contract accounting operated as designed.
  • Agree the smallest change to insurance contract accounting that would be visibly useful.
  • Design the exception process for insurance contract accounting and require a documented rationale.
02

Insurance contract accounting: the control framework and segregation of duties

2 sessions · 8 points

Session 1What to measure in insurance contract accounting and what to ignore

  • Translate the appetite for insurance contract accounting into limits someone monitors daily.
  • Confirm segregation of duties across initiation, approval and settlement of insurance contract accounting.
  • Confirm client due diligence standards applied to insurance contract accounting are current.
  • Agree who signs off insurance contract accounting and record that they did.

Session 2What insurance contract accounting does to capital and liquidity under stress

  • Test insurance contract accounting against a scenario the organisation would rather not model.
  • Collect evidence on the present handling of insurance contract accounting before proposing changes.
  • Review the pricing of insurance contract accounting against the risk being assumed.
  • Prepare the response for the most likely failure in insurance contract accounting.
03

Insurance contract accounting: regulatory obligation and supervisory expectation

2 sessions · 8 points

Session 1Keeping insurance contract accounting alive after the initial push

  • Confirm that reporting on insurance contract accounting reaches the people who can act.
  • State the risk appetite for insurance contract accounting as a number, not an adjective.
  • Map the handovers in insurance contract accounting between functions and secure them.
  • Assess the capital consumed by insurance contract accounting under current and stressed conditions.

Session 2The assumption inside the model for insurance contract accounting that nobody revisits

  • Check the legal and contractual exposure created by insurance contract accounting.
  • Confirm regulatory reporting on insurance contract accounting is complete, timely and reconciled.
  • Write down the assumptions underpinning the approach to insurance contract accounting.
  • Establish what evidence demonstrates insurance contract accounting is under control.
04

Insurance contract accounting: exceptions, breaches and remediation

2 sessions · 8 points

Session 1What a supervisor will ask about insurance contract accounting, and in what order

  • Test the procedure for insurance contract accounting against a realistic scenario.
  • Remove steps in insurance contract accounting that add effort without adding assurance.
  • Distinguish symptoms from causes when insurance contract accounting underperforms.
  • Check that records of insurance contract accounting answer the questions likely to be asked.

Session 2The decisions in insurance contract accounting that cannot be delegated

  • Establish who is informed, consulted and accountable in insurance contract accounting.
  • Define the trigger that would require insurance contract accounting to be redesigned.
  • Check the accounting treatment applied to insurance contract accounting against current standards.
  • Review concentration by counterparty, sector and geography inside insurance contract accounting.

Choose the package that suits you

Silver Package

At least 3 people

USD1,250
  • Workshop or Program Participation
  • Airport Transfers
  • Customized Badge
  • Expert Mentorship (Private Sessions)
  • Supervision & Secretarial Services
  • Accredited Certificate of Participation
  • Complete Training Kit
  • Coffee Break
  • Closing Ceremony

Gold Package

At least 3 people

USD1,850
  • 5-night stay in a 5-star hotel
  • Workshop or Program Participation
  • Airport Transfers
  • Customized Badge
  • Expert Mentorship (Private Sessions)
  • Supervision & Secretarial Services
  • Accredited Certificate of Participation
  • Complete Training Kit
  • Coffee Break
  • Closing Ceremony

Complete your registration

We will contact you within one business day to confirm.

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