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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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