In order to become a fully qualified member of your actuarial association, it is required to complete a course of study in line with the association’s syllabus and also to meet other conditions (e.g. work experience) required by the association. European actuarial associations which are a member of the Groupe Consultatif Actuariel Européen (GC) have to meet the requirements as laid down in GC Core Syllabus.

The EAA course on Actuarial Enterprise Risk Management consists of the following topics that are based on the new requirements of the Groupe Consultatif Core Syllabus passed
in 2011:

Actuarial Enterprise Risk Management

• The general operating environment of the enterprise
• Assessment of risks; risk types and risk measures
• Design and pricing of products and/or services
• Determination of assumptions and scenario setting
• Reserving and valuation of liabilities
• Risk mitigation
• Asset Liability Management
• Monitoring the experience and exposure to risk
• Solvency and profitability of the enterprise and the management of capital
• Quantitative Risk Management: risk modelling

The aim is to provide the technical skills to apply the principles and methodologies studied under actuarial technical subjects for the identification, quantification and management of risks.

Most of the subjects of Quantitative Risk Management and Solvency as given in the Core Syllabus will also be covered in this course in order to provide a grounding in the quantitative aspects of risk management.