Management under IFRS 17 and K-ICS Standards

This course helps participants acquire knowledge about internal models and risk control strategies from a management perspective and supports them in applying this knowledge through practical training.

Instructor : Jeonghun Park

Course Format : on-line

Course Duration : 

Study Period : 60days

Course Fee : $2500

Number of Lectures : 

Management under IFRS 17 and K-ICS Standards

This course helps participants acquire knowledge about internal models and risk control strategies from a management perspective and supports them in applying this knowledge through practical training.

Instructor : Jeonghun Park

Course Format : on-line

Course Duration : 

Study Period : 60days

Course Fee : $2500

Number of Lectures : 

Introduction

This training module is designed to help participants systematically learn about internal models from a management perspective and understand how to utilize them to guide risk control strategies.
The course delves deeply into the design principles and operational mechanisms of internal models while explaining the key elements of risk management and control.

Additionally, it provides practical learning opportunities through case studies on developing risk control strategies linked to management practices. The training includes hands-on exercises using simulated scenarios to help participants experience how to practically apply the knowledge they have acquired.

Through this process, participants will gain the ability to effectively implement internal models and develop insights to achieve organizational risk management objectives.

The ultimate goal of this training is to equip participants with specialized skills to apply risk control strategies and internal model utilization from a management perspective directly into practice.

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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