Copyright © 2010 SAS Institute Inc. All rights reserved. ERM Svenska aktuarieföreningen

2 Copyright © 2010, SAS Institute Inc. All rights reserved. Vem är jag och varför är jag här?  SAS Institute AB  Mjukvaruföretag  Riskhantering växande  KTH  Adj Prof Industriell ekonomi – tillämpning av finansmatematiska modeller  ERM utbildning start VT del i CERA eventuellt

3 Copyright © 2010, SAS Institute Inc. All rights reserved. SAS Institute A Global Company  The worlds largest privately owned software company  Between % of annual turnover is invested in R&D each year  A leader in Business Analytics – proactive decision making  employees in 130 countries  Financial industry is the largest industry  Risk is a focus area  Combines technology and solutions  Solves business specific challenges

4 Copyright © 2010, SAS Institute Inc. All rights reserved.

5 ERM kurser KTH – HT 2011 och VT Measurement vs. Management  Class room  ERM  MR  CR  OR/GRC  LR/ALM  UR  Aggregering  Gästföreläsare  Dan Masfeld (Vattenfall)  Catharina Lagerstam  Joakim Jansson (HB)  Ivan Thompson (Swedbank)  Gunnar Andersson?? (Folksam)

6 Copyright © 2010, SAS Institute Inc. All rights reserved. CERA - In 2007, the Society of Actuaries developed the Chartered Enterprise Risk Analyst (CERA) credential in response to the growing field of enterprise risk management.  This is the first new professional credential to be introduced by the SOA since  Focus on how various risks, including operational, investment, strategic, and reputational combine to affect organizations.  CERAs work in environments beyond insurance, reinsurance and the consulting markets, including broader financial services, energy, transportation,….  It takes approximately three to four years to complete the CERA curriculum which combines basic actuarial science, ERM principles and a course on professionalism.  To earn the CERA credential, candidates must take five exams, fulfill an educational experience requirement, complete one online course, and attend one in-person course on professionalism

7 Copyright © 2010, SAS Institute Inc. All rights reserved. Sirius årsredovisning 2009: The objectives of Sirius’ work with ERM are  Secure existing high profitability through better risk management.  Obtain better information for strategic management decisions.  Demonstrate strong risk management vis à vis rating agencies and other interested parties.  Provide stakeholders with transparent risk management information.  Comply with Solvency II requirements.

8 Copyright © 2010, SAS Institute Inc. All rights reserved. Solvency I I Market Value of Assets Reserves Solvency Capital Requirement (SCR) Free Assets Market Risk Credit Risk Operational Risk Underwriting Risk Valuation of assets and liabilities based on the total balance sheet approach Risk Management Approach Decision Making and Strategy Risk Identification and Assessment Risk Mitigation and Control Reporting and Monitoring Solvency II- ERM – Management Information dashboard Developing a risk management system Pillar 1 Pillar 2 Pillar 3 Risk margin Best estimate

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