Risk professionals with knowledge of the key principles of Enterprise Risk Management ("ERM") are critical to successful risk management within businesses. You have the opportunity, through this module, to gain globally recognised, technically strong credentials that may be applied across organisations to promote better business decisions.
You will develop the knowledge and skills needed to work as a Chief Risk Officer, Chief Actuary or other senior role in a wide range of industries, across sectors as diverse as insurance, healthcare, consulting, banking, energy and transport.
This module will give you a grounding in mathematical and statistical modelling techniques relevant to ERM, including using R and/or Microsoft Excel to solve real-life business problems.
You will have the opportunity to gain valuable exemptions from the SP9 (ERM) subject of the Institute and Faculty of Actuaries (IFoA, UK). Successful candidates may be eligible for the prestigious CERA qualification ("Certified Enterprise Risk Actuary") via the University of Kent's agreement with the IFoA.
Lecture 48
Take-home test worth 30%.
Examination (3 hours) worth 70%.
Reassessment Method: Like-for-like.
Composite form of reassessment for failed components – examination.
On successfully completing the module, you will be able to:
1) Systematically apply the key principles and techniques of Enterprise Risk Management ("ERM") in the context of current professional actuarial practice
2) Effectively analyse complex problems in ERM, both current and historic, using appropriate models
3) Critically evaluate results from such analyses in various contexts and draw appropriate conclusions
4) Propose solutions and actions based on their evaluation of complex problems in ERM and clearly communicate these solutions to both actuarial and non-actuarial audiences at a professional level
5) Demonstrate a comprehensive awareness of the environment in which ERM takes place, including actuarial fields such as insurance, pension schemes, banking and global financial markets, as well as non-actuarial areas of business and different regulatory and legislative environments.
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