Advanced IFRS 17 Actuarial Closing

This training module supports participants in acquiring advanced and diverse assumption methodologies, as well as detailed actuarial and accounting closing techniques required for IFRS 17 financial reporting.

Instructor : Jeonghun Park

Course Format : on-line

Course Duration : 

Study Period : 60days

Course Fee : 1400$

Number of Lectures : 

Advanced IFRS 17 Actuarial Closing

This training module supports participants in acquiring advanced and diverse assumption methodologies, as well as detailed actuarial and accounting closing techniques required for IFRS 17 financial reporting.

Instructor : Jeonghun Park

Course Format : on-line

Course Duration : 

Study Period : 60days

Course Fee : 1400$

Number of Lectures : 

Introduction

This training module is designed to help participants learn sophisticated and diverse methodologies for assumption setting essential for IFRS 17 reporting.
The course provides an in-depth exploration of key assumption items under IFRS 17 standards and the factors to consider during the assumption-setting process. Additionally, it offers detailed explanations accompanied by specific examples to systematically enhance understanding of actuarial and accounting closing methodologies.

Through this, participants will acquire the detailed skills and processes required in the actual reporting process. In particular, they will learn to analyze the impact of assumption setting on reporting outcomes and manage these effectively. The course emphasizes hands-on practice to apply the learned concepts and enhance their practical applicability in real-world scenarios.

Ultimately, this training supports participants in developing the expertise and practical capabilities needed for IFRS 17 reporting.

Target Audience

This course is designed for undergraduate and graduate students majoring in accounting or actuarial science, individuals interested in the fields of accounting and actuarial science, job seekers, and actuaries or professionals working in international or multinational insurance companies.

Course Category

1. Actuarial Fundamentals
[Open in 2025]

- Premium and Surrender Value Calculation using Actuarial Tables
- Understanding Actuarial Science

2. Company-wide Training
(IFRS 17 / K-ICS)

- Examples of IFRS 17 Accounting Treatments
- Introduction to K-ICS
- Direction of Profit and Loss Management under IFRS 17

3. Product Development (TBD)
[Open February 2025]

- Practical Training on PV Generation Using Actuarial Tables
- Profit and Loss Analysis for New Products
- Development of Risk Rates

4. Assumption Management and Calculation

-Methodologies for assumptions of risk/policyholder behavior/expense allocation/economics
- Actuarial Assumption Management Strategies (Audit Trail)

5. Advanced IFRS 17 Actuarial Closing

- Advanced IFRS 17 Actuarial Closing Practices

6. K-ICS

- Overview of Risk Management in Insurance Companies
- Understanding Market Risk
- Understanding Interest Rate Risk
- Understanding Insurance Risk
- Insurance Risk Internal Model

7. Reinsurance
[Open in January 2025]

- Traditional Reinsurance
- Co-Reinsurance
- Excel-Based Reinsurance Profit and Loss Forecasting

8. Management under IFRS 17 and K-ICS Standards

-Direction of Profit and Loss Management under IFRS17
- ALM-Based Management
- MCEV-Based Management
-Risk Based Asset-Liability Portfolio Management

9. Managerial Accounting
[Open coming]

- Biz Planning
- Selection of KPIs under IFRS 17 and K-ICS Standards
- Variable Product Hedging

10. Actuarial Software
[Open in 2025]

- Understanding Actuarial Software
- Pricing Practice
- Valuation Practice
- Internal Management Practice (Business Planning, ALM, etc..)

11. ERM (Enterprise Risk Managment)
[Open in 2025]

- Basic ERM Risk Management
- Insurance Risk Concept and Internal Model

12. Reporting

- Supervisor Report Preparation Method
- Automation System Example

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