Topics Covered in ERM Academy

Credit Risk

The universe of credit exploded during the 2008 financial meltdown. We teach prinicipals of credit risk combined with analytics and modeling required to measure and reserve for “probability of default”.

Topics covered include: (Data to decision, Econometric models, Actuarial models, Predictive modeling using SAS, Multivariate analysis using SAS, Risk transfer methods, Basel II, III and PD, LGD models, Simulation techniques (Monte Carlo, and Transactional), DFAST and CCAR stress testing, Model validation, Risk management methods including risk transfer vehicles, Data mining using SAS, SAS, r, SQL, and Excel, Automated risk reporting)

Operational Risk

Losses arising out of failed internal process, people, and systems or from external events. Examples of operation risk include IT losses, fraud, and many areas covered by insurance, such as property risk and political risk.

Topics covered: (Data to decision, Actuarial models, Econometric models, Basel II, III, risk-based reserving, Global insurance and reinsurance, Simulations (Monte Carlo, and transactional), Predictive modeling – risk scoring, Risk management methods, Data mining using SAS, SAS, r, SQL, and Excel, Automated risk reporting)

Market Risk

The risk of losses in assets and positions resulting from systematic and market events.

Topics covered: (Data to decision, Econometric models, Actuarial models, Asset portfolio risk strategy and management, Predictive modeling, Model validation, Fixed income asset risk measurement, Basel II, III risk-based reserving, Actuarial models, duration, convexity, and VAR, Simulations (Monte Carlo, transitional, and transactional), DFAST and CCAR Stress testing, CFA exam prep, Data mining using SAS, SAS, r, SQL, and Excel, Automated risk report)

Insurance Risk / Actuarial

The game of sharing the risk of losses arising out of insurance contracts and coverage. We focus on property and casuality insurance, self-insurance, captive insurance, and reinsurance corporations. We train our students to analyze exposures and losses in order to estimate risk-based reserves and risk-based pricing.

Topics include: (Data to Decision, Actuarial Models, Econometric Models, Survival Models, Solvency II, MCR, and SCR ModelsGlobal Insurance and Reinsurance, Actuarial exam preps,Simulations (Monte Carlo and Transactional), Predictive Modeling, Classical Actuarial Risk Management, Exposure Analysis, Loss Reserve and IBNR Forecasting methods, Risk Transfer Vehicles – RRGs and Captive/Cell insurance companies, Data mining using SAS, SAS, r, SQL, and Excel, Automated risk reporting)

CRM Marketing

An increasing application where retailers and manufacturers study consumer patterns and behavior to maximize sales and profits.

Topics include: (Data to Decision, Econometric Models, Actuarial Models, Survival Models, Data Mining using SAS, Simulations (Monte Carlo and transactional), Predictive Modeling, Model Validation, Data Based Marketing, Digital Advertising, SAS, r, SQL, and Excel, Automated Risk Reporting)

Programming & Data Analysis

Once students are ready, we hire them as interns in one of our consulting firm, Risk Advisors to gain the necessary working skills while practicing their programming and data analysis skills using SQL, SAS, Python, R, Excel, and other software of their choice.

We encourage and help our students get SAS and other certifications, pass actuarial, CFA, CPCU and other professional exams and designations. As their skills develop, our trainees get promoted to risk analysts while they perform real life and hand on work experience.

Exam Prep

Topics include: (Actuarial Exams, CFA Exam, ARE Exam, CPCU Exam)