The flowchart below gives a pictorial view of the employee defined benefits (e.g. gratuity, pension) actuarial valuation process: Step 1: Data Collection (e.g. employee data such as dates of birth and employment, salary, etc.; plan details; fund asset details; prior valuation reports and IAS disclosures;
Actuarial valuation of benefit liability – Defined Benefit Plan Let us assume Emily is an employee of LifeCorp Inc. which has a gratuity plan that pays a lump sum benefit upon normal retirement age (r) of 60 years. The lump sum benefit is defined as
Commutation functions are an easy, simple and efficient way to calculate the actuarial present value of contingent payments. They are a function of a deterministic survival model and a constant and level rate of return. The drawbacks of using commutation functions are that they do
An introductory course aimed at banking, corporate, treasury and sales teams that reviews intermediate and advance derivative products with afocus on marketing and sales applications. Participants work with product, sales, pricing and risk concepts applicable to derivative markets.
Designed as a senior management retreat on Basel II, this limited seating, one day workshop serves as a 6 hour crash course on Basel II for Chief Executives, Chief Financial Officers, Country Risk Officers, Credit Administration Heads, Treasury Heads, Basel II Coordinators and Board Risk Committee members.
Finance Training Course – Course Outline – Economic Capital, Limit Management & Basel II: Application and Practice
The Economic Capital debate triggered by Basel II requires a mind shift that needs to flows all the way down to current limit management frameworks. Simply extending the existing structure does not lead to full compliance or value creation. The objective is to introduce active
Serves as an introduction to the internal capital adequacy assessment framework being proposed by the central bank as outlined in the Basel II revised framework.1. COURSE OBJECTIVES At the end of this workshop the participants will be able to: What is the ICAAP framework and
Serves as a Probability of default (PD) calculation refresher as well as reviews intermediate topics and implementation issues related to Probabilityof default models. 1. COURSE OBJECTIVES At the end of this workshop the participants will be able to: Compare key methods used for PD calculations
This advanced level workshop serves as a refresher to liquidity management, with an emphasis on traditional models including gap analysis andearnings at risk, stress testing, scenario planning, policy making and simulations. 1. COURSE OBJECTIVES At the end of this workshop the participants will be able
Serves as a guide to Internal Capital Adequacy Assessment framework implementation with a focus on the calculations required behind thereporting format. 1. COURSE OBJECTIVES At the end of this workshop the participants will be able to: What is really required in implementing the ICAAP framework