Course

Course Summary
Credit Type:
Course
ACE ID:
AICP-0157
Organization's ID:
ARM 400
Organization:
American Institute For Chartered Property Casualty Underwriters/The Institutes
Location:
Hybrid
Length:
Self-paced (5-7 weeks)
Dates Offered:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Upper-Division Baccalaureate 3 risk management and insurance
Description

Objective:

The course objective is to provide learners with a broad understanding of risk and how it’s managed in modern organizations with advanced technologies for capturing, storing, and analyzing risk data. It includes a discussion of risk management from a holistic perspective by explaining the roles of internal and external stakeholders, risk culture, and ethical and social responsibilities related to risk.

Learning Outcomes:

  • assess the current state of risk management, explain how basic risk measures apply to the management of risk, apply a process for managing an organization's risks, determine the most effect methods for communicating with internal and external stakeholders
  • explain how risktech can be viewed as an ecosystem of technologies and objects that is transforming the way in which risks are assessed and controlled, explain how emerging technologies are transforming risk management, and illustrate how smart products employ emerging technology and provide risk management data
  • understand how internal and external environments relate to an organization's risk management program, how an organization's attitude toward risk is influenced by its culture, and the need and methods for communicating with stakeholders
  • assess key performance indicators and explain how key risk indicators can be used to plan and respond to risk
  • understand the roles of corporate governance and corporate governance codes, the role of the board of directors in overseeing an organization's risks
  • explain how data management can help an organization manage and mitigate risk and apply the principles of data quality to business decisions
  • have familiarity with internal controls and the related frameworks and standards, risk-based auditing, internal audits
  • understand how to manage compliance, regulatory compliance, Solvency II and Basel standards, how to develop a compliance program
  • explain organizational resiliency, business continuity management and planning, strategic redeployment planning, and reputational crises.

General Topics:

  • Fundamental concepts
  • Risk management today
  • Environment and culture
  • Performance and process management
  • Risk governance
  • Managing risk data
  • Internal audit and control
  • Compliance
  • Organizational resiliency
Instruction & Assessment

Instructional Strategies:

  • Audio Visual Materials
  • Case Studies
  • Discussion
  • Practical Exercises

Methods of Assessment:

  • Examinations
  • Final exam

Minimum Passing Score:

70%
Supplemental Materials