enterprise risk management (ifoa st9)

This class was created by Brainscape user Rayno Mostert. Visit their profile to learn more about the creator.

Decks in this class (48)

Module 1: What is ERM?
Define what is meant by ordinary ...,
Objective of risk management,
Key elements that distinguish erm...
11  cards
Module 2: Why (E)RM?
5 main reasons for managing risk,
3 main practical benefits of erm ...,
Erm programmes have typically bee...
13  cards
Module 3: Introduction to risk taxonomy
Definition of risk,
A common basic risk categorisatio...,
Market risk
60  cards
Module 4: How to do ERM - internal risk frameworks
Define corporate governance,
Outline the responsibilities of t...,
Outline the responsibilities of l...
37  cards
Module 5: Risk frameworks (mandatory)
5 stakeholders with roles involvi...,
Functional regulation,
United regulation
44  cards
Module 6: Risk frameworks (advisory)
The orange book,
Outline the key principles embedd...,
4 related elements ofthe treasury...
10  cards
Module 7: Risk frameworks (proprietary)
Proprietary risk framework,
Credit rating agency,
3 major credit rating agencies
19  cards
Module 8: ERM processes and structures
What is the role of the second li...,
What is the role of the third lin...,
What is the role of the first lin...
8  cards
Module 9: Risk policy
Risk appetite,
Risk capacity,
Risk tolerance
14  cards
Module 10: Monitoring and communication
Key information in the documentat...,
General considerations in communi...,
Communication can be 2
20  cards
Module 11: Stakeholders
Name 5 categories of company stak...,
Describe the characteristics and ...,
Outline the role of shareholder s...
30  cards
Module 12: Governance / assurance functions and the role of the CRO
A good cro should improve the eff...,
Explain how a cro might be positi...,
Discuss the degree to which the b...
33  cards
Module 13: Business analysis, risk identification and initial assessment
6 step process for risk identific...,
6 idea generation tools to help o...,
7 risk identification techniques
65  cards
Module 14: Introduction to risk measurement
Axioms of coherence 4,
Axiom 1 monotonicity,
Axiom 2 subadditivity
36  cards
Module 15: Introduction to risk modelling
5 examples of quantifiable risks,
Type of model used for analysing ...,
Type of model used for analysing ...
59  cards
Module 16: Statistical Distributions
Binomial distribution description,
Negative binomial distribution de...,
Poisson distribution description
44  cards
Module 17: Time series analysis
Strict stationarity,
Weak stationarity,
Covariance stationarity
16  cards
Module 18: Copulas
Copula,
A copula must have 3 properties,
Sklars theorem
12  cards
Module 19: Fitting models
Method of moments univariate dist...,
Method of moments copula,
Method of maximum likelihood univ...
14  cards
Module 20: Extreme Value Theory
Why might the form of a distribut...,
Gev distribution,
3 parameters of the gev family
9  cards
Module 21: Uses of models in ERM
3 main uses of models,
Parameter risk,
Model risk
16  cards
Module 22: Assessment of market risks
4 features of observed returns on...,
5 features of observed returns on...,
5 approaches to modelling market ...
31  cards
Module 23: Assessment of credit risk
Credit risk may be decomposed into 2,
Default risk in a portfolio can b...,
Information to assess credit risk...
43  cards
Module 24: Assessment of operational risks
Loss incident databases,
Top down models,
Scenario analysis has benefits in...
35  cards
Module 25: Assessment of other risks
Why are quantitative techniques n...,
The main methods of assessing liq...,
Assessing liquidity risk cash inf...
26  cards
Module 26: Risk optimisation and risk responses
Risk management can optimise the ...,
5 fundamental concepts in risk po...,
2 measures of return that reflect...
38  cards
Module 27: Management of market risk
3 key market risk management stra...,
5 key market risk management acti...,
Market risk policies should cover 7
51  cards
Module 28: Management of credit risk
4 general methods of managing cre...,
5 steps of the credit risk manage...,
Steps of the credit risk manageme...
28  cards
Module 29: Management of operational and other risks
The key to managing operational risk,
5 features of best practice opera...,
11 actions aimed at managing oper...
24  cards
Module 30: Capital management
Solvency capital requirement scr ...,
Calculating credit risk capital i...,
Capital modelling process select ...
58  cards
Module 31: ERM implementation
4 major processes to establish wh...,
When scoping an erm implementatio...,
2 key challenges in erm implement...
24  cards
Module 32: Case studies
To avoid major losses and disaste...,
Lams seven lessons learned
2  cards
Module 33: Principal terms
Agency risk,
Alternative risk transfer art,
As nzs 4360
86  cards
S&P: Evaluating the ERM Practices of Insurance Companies
S p notes that erm 3,
A company that practices risk man...,
The impact of effective risk mana...
30  cards
Past Exam Questions: April 2017
Explain the importance of risk de...,
Define the 95 one day value at risk,
Assess the relevance of downside ...
20  cards
Past Exam Questions: September 2017
Suggest a structure of a small in...,
How might erm considerations have...,
How might issues arise from an er...
22  cards
Past Exam Questions: April 2018
4 main sources of operational ris...,
Comment on the use of expected sh...,
Why might a one month time horizo...
11  cards
Past Exam Questions: September 2016
Outline the uses of capital alloc...,
Assess the possible implications ...,
How might a generalised pareto di...
13  cards
Past Exam Questions: April 2016
State reasons why an organisation...,
Assess the suitabilityfor a new s...,
Suggest information that a compan...
16  cards
Past Exam Questions: September 2015
Describe the likely motivation fo...,
Describe the role of the own risk...,
Outline the advantages of a stand...
15  cards
Past Exam Questions: April 2015
Describe the approach that would ...,
To quantify the economic capital ...,
Explain the importance of erm in ...
7  cards
Past Exam Questions: September 2014
Why might a life insurer charge a...,
Formula for pearsons rho between ...,
Explain what is meant by a risk a...
18  cards
Past Exam Questions: April 2014
Describe the key man risks arisin...,
Outline how key man risks can be ...,
State the advantages of setting u...
19  cards
Past Exam Questions: September 2013
Compare the data typically used f...,
Why is external operational risk ...,
Discuss the advantages and disadv...
41  cards
Past Exam Questions: April 2013
Outline different protection meas...,
Explain the benefits for the insu...,
Describe the process of developin...
13  cards
Past Exam Questions: September 2012
Company a has an erm frameworkcom...,
Describe initiatives that new ins...,
Describe initiatives that would h...
32  cards
Past Exam Questions: April 2012
Discuss when it would be helpful ...,
Outline 5 different types of supe...,
Outline how different types of su...
25  cards
Past Exam Questions: September 2011
Outline the areas to be covered i...,
Describe ways in which management...,
Outline lams seven key lessons le...
14  cards

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enterprise risk management (ifoa st9)

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