Certified Solvency ii Training from the Solvency ii Association,
the largest association of Solvency ii Professionals in the world
The Solvency ii Association develops and maintains a compendium of
Solvency ii related risk and compliance topics. Subject matter experts review and
update this body of knowledge.
The Solvency ii Association offers two Solvency ii certificates:
A. Certified Solvency ii Professional (CSiiP) for professionals
working in the EEA countries
 
To learn more
about the online exam you may visit:
www.solvency-ii-association.com/CSiiP_CSiiEP_Frequently_Asked_Questions.pdf
www.solvency-ii-association.com/CSiiP_CSiiEP_Certification_Steps.pdf
B. Certified Solvency ii Equivalence
Professional (CSiiEP) for professionals working in non-EEA countries
To learn more
about the online exam you may visit:
www.solvency-ii-association.com/CSiiP_CSiiEP_Frequently_Asked_Questions.pdf
www.solvency-ii-association.com/CSiiP_CSiiEP_Certification_Steps.pdf
The Solvency ii Association offers two certified training
courses:
A. Certified Solvency ii Professional
(CSiiP) : Preparing for the Solvency ii Directive of the EU -
Prep Course (3 days)
B. Certified Solvency ii Equivalence
Professional (CSiiEP): Preparing for Equivalence with the
Solvency ii Directive of the EU - Prep Course (3 days)
First Certified Course:
Certified Solvency ii professional
(CSiiP) -
Preparing for the Solvency ii Directive of the EU
(3 days)
Objectives
This course has been
designed to provide with the knowledge and skills needed to
understand and support compliance with the Solvency ii Directive of
the European Union.
Target Audience
This course is intended for
decision makers, managers, professionals and consultants that:
A. Work in Insurance or Reinsurance firms of EEA countries.
B. Work in Groups - Financial Conglomerates (FC), Financial Holding
Companies (FHC), Mixed Financial Holding Companies (MFHC), Insurance
Holding Companies (IHC) - providing insurance and/or reinsurance
services in the EEA, whose parent is located in a country of the
EEA.
C. Want to understand the challenges and the
opportunities after the Solvency ii Directive.
This course
is highly recommended for supervisors of EEA countries that want to
understand how countries see Solvency II as a Competitive Advantage.
This course is recommended for all decision makers, managers,
professionals and consultants of insurance and/or reinsurance firms
involved in risk and compliance management.
About the Course
INTRODUCTION
The European Union’s
Legislative Process
Directives and Regulations
The Financial
Services Action Plan (FSAP) of the EU
Extraterritorial
Application of European Law
Extraterritorial Application of the
Solvency II Directive
Solvency ii and the Lamfalussy Process
Level 1: Framework Principles
Level 2: Detailed Technical
Measures
Level 3: Strengthening Cooperation Among Regulators
Level 4: Enforcement
Weaknesses of Solvency I
From Solvency I
to Solvency II
Solvency ii Players
Solvency ii Objectives
THE SOLVENCY II DIRECTIVE
A Unified Legislative Basis for
Prudential Regulation of Insurers and Reinsurers
Risk-Based
Capital Allocation
Scope of the Application
Important
Definitions
Value-at-Risk in Solvency II
Authorisation
Corporate Governance
Governance Functions
Risk Management
Corporate Governance and Risk Management - Level 2
Fit and
proper requirements for persons who effectively run the undertaking
Internal Controls
Internal Audit
Actuarial Function
Outsourcing
Board of Directors: Role and Solvency ii
Responsibilities
12 Principles – System of Governance (Level 2)
PILLAR 2
Supervisory
Review Process (SRP)
Focus on Risk Management and Operational
Risk
Own Risk and Solvency Assessment (ORSA)
ORSA - The
Internal Assessment Process
ORSA - The Supervisory Tool
ORSA -
Not a Third Solvency Capital Requirement
Capital add-on
PILLAR 3
Disclosure
Requirements
The Solvency and Financial Condition Report (SFC)
PILLAR I
Valuation Of
Assets And Liabilities Technical Provisions
The Solvency Capital
Requirement (SCR)
The Value-at-Risk Measure Calibrated to a 99.5%
Confidence Level over a 1-year Horizon
The Standard Approach
The Internal Models
The Collection of Additional Historical Data
External Data
The Minimum Capital Requirement (MCR)
Non-Compliance with the Minimum Capital Requirement
Non-Compliance with the Solvency Capital Requirement
Own Funds
Investment Rules
INTERNAL
MODEL APPROVAL
CEIOPS Level
2 - Tests and Standards for Internal Model Approval
CEIOPS Level
2 - The procedure to be followed for the approval of an internal
model
Internal Models Governance
Group internal models
Statistical quality standards
Calibration and validation
standards
Documentation standards
SOLVENCY II, GROUP SUPERVISION AND THIRD COUNTRIES
Solvency I: Solo Plus Approach
Group Supervision under Solvency II
Rights and duties of the
group supervisor
Group Solvency - Methods of calculation
Method 1 (Default method): Accounting consolidation-based method
Method 2 (Alternative method): Deduction and aggregation method
Parent Undertakings Outside the Community - Verification of
Equivalence
Parent Undertakings Outside the Community - Absence
of Equivalence
The head of the group is in the EEA and the third
country regime is not equivalent
The head of the group is in the
EEA and the third country regime is equivalent
The head of the
group is outside the EEA and the third country is not equivalent
The head of the group is outside the EEA and the third country
regime is equivalent
Small and Medium-Sized Insurers: The
Proportionality Principle
Captives and Solvency II
EQUIVALENCE WITH SOLVENCY II
AROUND THE WORLD
Solvency
ii and Countries outside the European Economic Area
The
International Association of Insurance Supervisors (IAIS)
The
Swiss Solvency Test (SST) and Solvency ii
Solvency ii and the
Offshore Financial Centers (OFCs)
Solvency ii and the USA
Solvency ii and the US National Association of Insurance
Commissioners (NAIC)
The Federal Insurance Office created under
the Dodd-Frank Act in the USA
The ORSA in the USA
FROM THE REINSURANCE DIRECTIVE TO THE SOLVENCY II DIRECTIVE
Directive 2005/68/EC of 16
November 2005 on Reinsurance
The Reinsurance Directive (RID)
CLOSING
The Impact of
Solvency ii Outside the EEA
Providing Insurance Services to the
European Client
Competing with Banks
Learning from the Basel
ii Framework
Regulatory Arbitrage: A Major Risk for Countries
that see Compliance as an Obligation
Basel II, Basel III,
Solvency II and Regulatory Arbitrage
Challenges and
Opportunities: What is next
Regulatory Shopping after Solvency II
To learn more about the online exam you may visit:
www.solvency-ii-association.com/CSiiP_CSiiEP_Frequently_Asked_Questions.pdf
www.solvency-ii-association.com/CSiiP_CSiiEP_Certification_Steps.pdf
The Solvency II Association has
established the
Solvency II Speakers Bureau
for firms and organizations that want to access the expertise of
Certified Solvency ii Professionals (CSiiPs) and Certified
Solvency ii Equivalence Professionals (CSiiEPs).
The
Solvency II Association will be the liaison between our
certified professionals and these organizations, at no cost. We
strongly believe that this can be a great opportunity for both,
our certified professionals and the organizers.
To learn
more:
www.solvency-ii-association.com/Solvency_II_Speakers_Bureau.html
Second Certified Course:
Certified
Solvency ii Equivalence
Professional (CSiiEP):
Preparing for
Equivalence with the
Solvency ii Directive of the EU
(3 days)
Overview
Many non-EEA countries have
announced significant enhancements to their solvency and disclosure
regulations for insurance and reinsurance, to achieve recognition as
having equivalent regulatory regime and standards to those described
in the Solvency II Directive.
Objectives
This course has been
designed to provide with the knowledge and skills needed to
understand the Solvency ii Directive of the EU, and the
extraterritorial application to non-EU countries.
Target Audience
This course is
intended for decision makers, managers,
professionals and consultants that:
A. Work in Groups -
Financial Conglomerates (FC), Financial Holding Companies (FHC),
Mixed Financial Holding Companies (MFHC), Insurance Holding
Companies (IHC) - providing insurance and/or reinsurance services in
the EEA, whose parent is located in a non-EEA country.
B.
Work in Groups - Financial Conglomerates (FC), Financial Holding
Companies (FHC), Mixed Financial Holding Companies (MFHC), Insurance
Holding Companies (IHC) - which include European Insurance or
Reinsurance Subsidiaries and/or Branches.
C. Work in
countries outside the EEA and want to understand not only the
Solvency II Equivalence requirements, but also the challenges and
the opportunities after the Solvency ii Directive.
This
course is highly recommended for
supervisors of non-EU countries that want to understand how
countries see Solvency II as a Competitive Advantage.
This
course is highly recommended for
decision makers, managers, professionals and consultants of
insurance and/or reinsurance firms, living in non-EEA countries,
involved in risk and compliance management.
About the
Course
INTRODUCTION
The European Union’s
Legislative Process
Directives and Regulations
The Financial
Services Action Plan (FSAP) of the EU
Equivalence with the
Directives of the European Union: An Overview
Why Equivalence?
Extraterritorial Application of European Law
Case Study 1:
European Savings Tax Directive (ESD)
Case Study 2: The 8th
Company Law Directive on Statutory Audit
Extraterritorial
Application of the Solvency II Directive
Solvency ii and the
Lamfalussy Process
Level 1: Framework Principles
Level 2:
Detailed Technical Measures
Level 3: Strengthening Cooperation
Among Regulators
Level 4: Enforcement
Weaknesses of Solvency
I
From Solvency I to Solvency II
Solvency ii Players
Solvency ii Objectives
THE SOLVENCY II
DIRECTIVE
A Unified Legislative Basis for Prudential
Regulation of Insurers and Reinsurers
Risk-Based Capital
Allocation
Scope of the Application
Important Definitions
Value-at-Risk in Solvency II
Authorisation
Corporate
Governance
Governance Functions
Risk Management
Corporate
Governance and Risk Management - Level 2
Fit and proper
requirements for persons who effectively run the undertaking
Internal Controls
Internal Audit
Actuarial Function
Outsourcing
Board of Directors: Role and Solvency ii
Responsibilities
12 Principles – System of Governance (Level 2)
PILLAR 2
Supervisory Review
Process (SRP)
Focus on Risk Management and Operational Risk
Own Risk and Solvency Assessment (ORSA)
ORSA - The Internal
Assessment Process
ORSA - The Supervisory Tool
ORSA - Not a
Third Solvency Capital Requirement
Capital add-on
PILLAR 3
Disclosure
Requirements
The Solvency and Financial Condition Report (SFC)
PILLAR I
Valuation Of
Assets And Liabilities Technical Provisions
The Solvency Capital
Requirement (SCR)
The Value-at-Risk Measure Calibrated to a 99.5%
Confidence Level over a 1-year Time Horizon
The Standard Approach
The Internal Models
The Collection of Additional Historical Data
External Data
The Minimum Capital Requirement (MCR)
Non-Compliance with the Minimum Capital Requirement
Non-Compliance with the Solvency Capital Requirement
Own Funds
Investment Rules
INTERNAL MODEL
APPROVAL
CEIOPS Level 2 - Tests and Standards for
Internal Model Approval
CEIOPS Level 2 - The procedure to be
followed for the approval of an internal model
Internal Models
Governance
Group internal models
Statistical quality standards
Calibration and validation standards
Documentation standards
SOLVENCY II, GROUP SUPERVISION AND THIRD
COUNTRIES
Solvency I: Solo Plus Approach
Group
Supervision under Solvency II
Dominant influence and significant
influence - the new challenges
Identification and Appointment of
the Group Supervisor
Professional Secrecy and Exchanges of
Information
Supervisory Colleges - The Challenge for non-EU
countries
Cooperation Agreements with Third Countries
Use of
Confidential Information
Rights and duties of the group
supervisor
Group Solvency - Methods of calculation
Method 1
(Default method): Accounting consolidation-based method
Method 2
(Alternative method): Deduction and aggregation method
Parent
Undertakings Outside the Community - Verification of Equivalence
Parent Undertakings Outside the Community - Absence of Equivalence
The head of the group is in the EEA and the third country regime is
not equivalent
The head of the group is in the EEA and the third
country regime is equivalent
The head of the group is outside the
EEA and the third country is not equivalent
The head of the group
is outside the EEA and the third country regime is equivalent
Small and Medium-Sized Insurers: The Proportionality Principle
Captives and Solvency II
Own funds in undertakings located in
non-EEA countries
Right of Establishment and Freedom to Provide
Services
Conditions for Branch Establishment
Branches
Established Within the Community
Principles and Conditions of
Authorisation Equivalence
Subsidiaries of Insurance and
Reinsurance Undertakings Governed by the Laws of a Third Country and
Acquisitions of Holdings by such Undertakings
EQUIVALENCE WITH SOLVENCY II AROUND THE WORLD
Solvency ii and Countries outside the European
Economic Area
The International Association of Insurance
Supervisors (IAIS)
The Swiss Solvency Test (SST) and Solvency
ii:
Solvency ii and the Offshore Financial Centers (OFCs)
Solvency ii and the USA
Solvency ii and the US National
Association of Insurance Commissioners (NAIC)
SOLVENCY II AND SPECIAL PURPOSE ENTITIES
Special Purpose Vehicles - Solvency II Definition and Structure
The scope of authorisation
Pre-authorisation process
Supervisory responsibilities
National Discretions
Supervisory
questions
SPVs used by more than one undertaking
Intra-group
SPVs
Special Purpose Vehicles and Capital Relief
Mandatory
conditions
Principle 1 – Fully Funded
Principle 2 – Investors
have a subordinated claim on SPV assets
Principle 3 – Prudent
person
Principle 4 – Effective risk transfer
Principle 5 –
Non-recourse
Documentation requirements
Governance
requirements
Accounting, prudential and statistical information
requirements
Solvency requirements
Background details on SPV
transactions
Non-EU SPVs
FROM THE
REINSURANCE DIRECTIVE TO THE SOLVENCY II DIRECTIVE
Directive 2005/68/EC of 16 November 2005 on Reinsurance
The
Reinsurance Directive (RID)
CLOSING
The Impact of Solvency ii Outside the EEA
Providing Insurance Services to the European Client
Competing
with Banks
Learning from the Basel ii Framework
Regulatory
Arbitrage: A Major Risk for Countries
Basel II, Solvency II and
Regulatory Arbitrage
Challenges and Opportunities: What is next
To learn more
about the online exam you may visit:
www.solvency-ii-association.com/CSiiP_CSiiEP_Frequently_Asked_Questions.pdf
www.solvency-ii-association.com/CSiiP_CSiiEP_Certification_Steps.pdf
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Trade Commission Fair, the California Online Privacy Protection
Act, the Children Online Privacy Protection Act, the Privacy
Alliance, the Controlling the Assault of Non-Solicited
Pornography and Marketing Act
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