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 : 180days

Course Fee : $700

Number of Lectures :  6

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 : 180days

Course Fee : $700

Number of Lectures :  6

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

  • Mid-level managers and executives at insurance companies, reinsurance companies, and actuarial firms
  • Managers responsible for developing business strategies in actuarial, risk management, finance, and planning departments
  • Executives who need to understand the latest regulations and risk management policies such as IFRS 17, K-ICS, and RBC
  • Operational leaders making decisions based on profit management, capital management, and risk strategies

Course Category

1. Actuarial Fundamentals
[Open March 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
[Open April 2025]

- Term Insurance
- Cancer Insurance
- Savings Insurance
- Annuity Insurance
- Variable Insurance

4. Assumption Management and Calculation

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

5. IFRS 17 Actuarial Closing Practice

- 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 April 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 April 2025]

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

10. Actuarial Modeling Course (New Product Modeling)
[Open in 2025]

- Term Insurance
- Cancer Insurance
- Savings Insurance
- Annuity Insurance
- Variable Insurance

11. Actuarial Modeling Course (IFRS 17 Closing Practice)
[Open in 2025]

- Term Insurance
- Cancer Insurance
- Savings Insurance
- Annuity Insurance
- Variable Insurance

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

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

13. Reporting

- Supervisor Report Preparation Method
- Automation System Example

14. Product Planning
[Open in 2025]

- Product Introduction
- Product Structure
- Market Understanding
- Risk Rate

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