Course on Enterprise Risk Management in insurance
The Malta International Training Centre (MITC) will be organising a one-day course on the subject of Enterprise Risk Management (ERM) in insurance, on 26 October. The course programme is based on the outcome of research commissioned by the MITC in collaboration with Mazars, which highlighted the principal themes and trends in ERM within the local insurance sector.
Andre Farrugia, Director of Studies at MITC, stated: “With companies now regularly documenting risk management policies as a fundamental starting step, one of the key focus points of the course will be to tackle the gaps identified between the development of a Risk Appetite (RA) framework and the critical role that it plays in the embedment of the ORSA process, as part of ERM. Although it is essential to have appropriate risk management policies in place – which are also reinforced by means of Solvency II governance parameters – it is critical that these policies influence the day to day processes across the organisation. This includes ensuring that members of staff understand the policy content, and that they utilise this information in order to identify, assess, measure and monitor risks.
Commenting on the research conducted by MITC in collaboration with Mazars, Mazars Malta Partner Alan Craig said that the business advisory firm was delighted to put its expertise in the field of ERM in insurance at the service of the MITC and the local insurance sector. As regards the survey, which formed the basis of the research, Craig explained that this was agreed upon with the MITC in order to “establish a current understanding of the risk management status of insurers in Malta, defining gaps and key themes which would be taken into consideration for the design, by the Centre, of a tailored ERM professional training course for insurers”.
The one-day course will be held at the MITC premises in Mriehel, and the training sessions will be delivered by Risk Management experts from Mazars UK.
For more information contact the MITC via e-mail at email@example.com or by visiting http://mitcentre.com/training/courses/.