Certified Solvency ii Training for the countries of the EEA
Certified Solvency ii Training for countries outside the EEA
Own Risk and Solvency Assessment (ORSA)
Solvency and Financial Condition Report
 
 
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Certified Solvency ii Training for non-EEA countries from the Solvency ii Association
 
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 the following risk and compliance management course:
 
Certified Solvency ii Equivalence Professional (CSiiEP): Preparing for Equivalence with the Solvency ii Directive of the EU - Prep Course (3 days)
Understanding the Solvency ii directive of the EU, and the extraterritorial application to non-EU countries.
 
This course leads to the certificate:
Certified Solvency ii Equivalence Professional (CSiiEP)
 
 
 
 
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
 

Instead of training, you can have more

1. Training


2. Certification by the Solvency ii Association.
As a certified professional, you are entitled to write about your certificate(s) in your CV, resume, websites etc. using the name and the logo of the association.
 
3.
Membership to the Association and Updates - You become (at no cost) a member of the Solvency ii Association, to stay current with new developments in the Solvency ii related projects and news.
 

  
Certified Solvency ii Equivalence Professional (CSiiEP): Preparing for Equivalence with the Solvency ii Directive of the European Union (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 1

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 (SPEs)


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

The Reinsurance 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
 

 
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
 

 
   
 
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