Asset Liability Management for Insurance Companies

60 hours/3 months access/Instructor Supported

 

Overview
The program has been designed to discuss concepts and case studies on Asset Liability Management for the insurance industry. The course discusses and reviews ALM concepts such as cash flows and risks of insurance products (assets and liabilities), applicable regulatory and capital guidelines, actual case studies and current trends and developments. The course has been designed to be conceptually sound and practical.

 

After completing this course you will be able to:

 

Asset Liability Management for Insurance Companies
Time taken to complete each Course: Two - Three hours

1.Scope of ALM

·         Objectives

·         Introduction

·         Interest Rate Risk

·         Foreign Exchange Risk

·         Commodity Risk

·         Stock Market Risk

·         Liquidity Risk

·         Credit Risk

·         Short-term Vs. Long-term

2. Overview of ALM in Insurance Companies

·         Objective

·         Introduction

·         Applications

·         Benefits and Limitations

·         Types of Risks

·         Managing Risks

3. A 9 part Framework of ALM

·         Objectives

·         Introduction

·         Strategic Framework

·         Organizational Framework

·         Operational Framework

·         Analytical Framework

·         Technology Framework

·         Information Reporting Framework

·         Performance Measurement Framework

·         Regulatory Compliance Framework

·         Control Framework

4. Strategies for ALM

·         Objectives

·         Introdcution

·         On Vs. Off Balance Sheet Strategy

5. Overview of Life and Property and Casualty Industry

·         Objectives

·         Introduction

·         Players

·         Life Insurance Products

·         Property and Casualty Insurance Products

·         Global Landscape and Future Trends

6. Annuities

·         Objectives

·         Introduction to Annuities

·         Annuity Characteristics

·         Types of Annuities

·         Annuity Calculations

·         Equity Indexed Annuities (EIA)

·         Indexing Methodologies of EIA

7. Actuarial Principles

·         Objectives

·         Introduction

·         Statistical Framework

·         Economic and Behavioral Framework

·         Actuarial Modeling Principles

·         Principles Underlying Financial Security Systems

8. Reinsurance

·         Objectives

·         Introduction

·         Types and Methods of Reinsurance I

·         Types and Methods of Reinsurance II

·         Alternative Risk Transfer

·         Functions of Reinsurance

9. Insurance-linked Securitization

·         Objectives

·         Introduction to Insurance-linked Securitization

·         Instruments for Insurance-linked Securitization

·         Insurance Risk Structures

·         Analyzing Insurance-linked Securitization

10. Yield Curve Analysis

·         Objectives

·         Introduction to Yield Curve Analysis

·         Types of Yield Curves

·         Analyzing Yield Curve

·         Bond Arbitrage Strategies

·         Application of Yield Curve

11. Interest Rate Gap I

·         Objectives

·         Introduction to Gap

·         Gap Report

·         Considerations in Slotting of Different Items

12. Interest Rate Gap II

·         Objectives

·         Income Impact

·         Gap Limits

·         Restructuring Strategies

·         Strengths and Limitations

13. Simulation and Scenario Analysis –I

·         Objectives

·         Introduction to Simulation

·         Measuring Risk Positions

·         Scenarios and Results

·         Simulation Modeling

·         Backtesting

14. Simulation and Scenario Analysis –II

·         Objectives

·         Business Strategies

·         Monte Carlo Simulation

·         Software Packages

·         Simulation in Insurance

·         Dynamic Financial Analysis

·         Case Study

·         Strengths and Limitations

15 . Duration I

·         Objectives

·         Introduction

·         Duration Vs. Yield

·         Duration Vs. Maturity

·         Duration Vs. Coupon

16. Duration II

·         Objectives

·         Duration of a Perpetual Bond

·         Duration of a Bond with Embedded Options

·         Duration of Portfolio

·         Duration of Off-Balance Sheet Items

·         Approximation in Duration

·         Gap Vs. Duration

·         Payment Frequency

·         Strategies for Risk Management

17. Duration III

·         Objectives

·         Duration of Equity and Leverages

·         Examples

·         Duration of Complex Items

·         Leveraged Inverse Floaters

·         Zero Coupon Yield Curve

·         Comparison

18. Convexity

·         Objectives

·         Introduction

·         Definition of Convexity

·         Convexity Calculation

·         Convexity and Yield

·         Convexity, Maturity, Coupon and Price Change

·         Convexity of a Portfolio

·         Positive and Negative Convexity

19. Basis Point Value

·         Objectives

·         Introduction

·         Calculation of Basis Point Value for On-Balance Sheet Items

·         Calculation of Basis Point Value for Off-Balance Sheet Items

·         Basis Point Value of a Portfolio

20. Value at Risk – I

·         Objectives

·         Introduction

·         Measures of Risk Exposure

·         Computation of VaR

·         Strengths and Limitations of VaR

21. Value at Risk – II

·         Objectives

·         VaR for Foreign Currency Spot and Options

·         VaR for Foreign Exchange Forward

·         VaR for Common Shares

·         VaR for Fixed Income Securities

·         VaR of a Portfolio

·         Applications of VaR

22. Application of Analytical Techniques

·         Objectives

·         Introduction

·         Concepts and Assumptions

·         Applications

·         Practices

23. AL Organization

·         Objectives

·         Introduction

·         Composition of ALCO

·         Scope of ALCO

·         Properties

24. ALCO Meetings

·         Objectives

·         Introduction

·         ALCO Meetings

·         ALCO Data Requirements

25. ALM Policies and Procedures

·         Objectives

·         Introduction

·         Policy Statement

·         Procedure Manual

·         ALCO Reports

26. Audit of ALM

·         Objectives

·         Introduction

·         Overall Approach

·         Audit

27. Regulations in Insurance Industry

·         Objectives

·         Introduction to Insurance Regulation

·         Regulatory Measures

·         Capital Regulation

·         Future Advances

28. Software Applications

·         Objectives

·         Introduction

·         Prophet

·         AVE

·         Solcorp/Ingenium

·         GGY and AXIS

·         The Yield Book Inc

·         PTS Solution

·         Tillinghast/Moses

29. Case Study – Confederation Life Insurance

·         Introduction

·         Lessons to be Learnt

JOB AIDS

·         Disclosures

·         Regulations

·         Policy Templates

·         Measurement Tools

·         Global Best Practices

·         Crossword

Calculators in Asset Liability Management for Insurance Companies

1. Confidence Level for a given Standard Deviation
2. Standard Deviation for a given Confidence Level3. Duration
4. Duration of a Portfolio
5. Duration using Zero Coupon Yield Curve
6. Duration of Amortizing Assets
7. Duration of uneven cash flows
8. Duration of Equity
9. Convexity
10. Convexity of uneven cash flow
11. BPV of a Bond
12. BPV of a Forward Rate Agreement (FRA)
13. BPV of a Portfolio
14. BPV of a Coupon Paying Bond
15. Value at Risk - Variance Covariance Method
16. Value at Risk for Different Weights
17. Gap Income Impact
18. Forward Rate Calculator
19. Zero Coupon Yield Calculator
20. VaR for required period and confidence level

 

Elearning Features

ProTrain, in partnership with Kesdee, offer state-of-the art simulated learning environment.  Exhaustive theoretical material supplemented with contemporary case studies

 

Learner friendly courses with:

>          Formulae, definitions and concise summaries

>          Interactive simulations

>          Solved examples, practice exercises and quizzes

>          Mock exams from proprietary database

>          Timed tests in exam format

>          Personalized results for self assessment

>          Glossary, FAQs, Pocket Reference

>          Valuable reference extracts

 

 

Other features include :

>          E-mail subject-matter expert

>          Online with 24x7 customer support

 

Legal Assistant / Paralegal Course Overview

Are you a self-starter with an interest in legal work? You can prepare for a fulfilling career as a legal assistant or paralegal today! Learn to do legal research, help prepare legal cases for hearings and trials, and work with legal documents. Work in a law firm, bank, court, government agency, or one of dozens of organizations who are depending more on legal assistants and paralegals today.

Best of all, you can train from home…on your own terms! You pick the time you study, and manage the pace of your first-rate training built to suit your career needs. Fast-track your training if you want! It’s in your hands.

Why Blackstone? With decades of experience, Blackstone is the leader in flexible career training programs.

As a Blackstone distance education student, you can enjoy an Online Student Center. You select the course delivery method that best fits your educational preferences and your learning style. You’ll have access to all the support you need as you complete this course.

Through the Legal Assistant / Paralegal training program, you’ll gain the clock hours needed to sit for the Certified Legal Assistant (CLA) certification exam given by the National Association of Legal Assistants (NALA). You can learn how to use powerful legal research tools like LexisNexis ® Total Research System, Shepard’s® Citations Service; and so much more. (Learn more about the products and services for paralegals offered from LexisNexis ®.)

The Blackstone Legal Assistant / Paralegal training program even teaches you how to find a job!

Now is the time to launch your new legal assistant/ paralegal career.
Click for free information >>

LexisNexis

Legal Assistant / Paralegal Career

What is a Paralegal?

Sometimes paralegals are referred to as legal assistants, lawyer’s assistants, or investigators. Each of these terms describes dependable, skilled professionals who serve in a variety of capacities in the legal community. Paralegals have been officially recognized by the American Bar Association since 1968.

Paralegals provide valuable services while working under the supervision of lawyers. Responsibilities vary greatly depending upon the employer and position. Paralegals are often responsible for conducting research, drafting legal documents, working with clients, and assisting in trial preparation.

How do I know if a paralegal career is right for me?

Becoming a paralegal is a great choice for your future if you are seeking a more fulfilling profession or you want to improve your current lifestyle. Paralegal training can provide the edge you need to stand out and step up in your current career as well as help you achieve professional certification.

Are there legal assistant and paralegal job opportunities out there? And what about job security?

There is a steadily increasing need for paralegals in the private sector as well as in various government offices. Even when other elements of the economy slow down, the need for paralegals will continue to grow. This is because paralegals can provide many of the same services as lawyers, but at a lower cost.

In recent years, the number of new jobs in the national paralegal market has outpaced the growth rate for most other jobs. The U.S. Department of Labor estimates employment for paralegals will grow much faster than the average for all occupations through 2014.

Paralegals are in demand at private law firms, large corporations, insurance companies, and government agencies. Some paralegals choose to work in community legal aid offices, helping to bring legal services to those who wouldn’t normally have access to such help.

Experienced paralegals may enjoy even greater opportunities creating a home business. See where Blackstone graduates are employed!

What kind of salary could a paralegal / legal assistant earn?

According to the National Association of Legal Assistants, paralegals had an average salary of $48,211 in 2008. Many also received a bonus, which averaged $3,808.

According to the 2008-09 Occupational Outlook Handbook, top paralegal pay was over $67,540 in 2006, while the middle 50 percent of paralegals earned between $33,920 and $54,690.

Where will I work as paralegal and what will I be doing?

Paralegals fill an assortment of positions in almost every locale in law firms and a multitude of other entities. Often, paralegals choose positions based on unique interests and skills, previous work experience, or future goals for specialization and advancement.

When you receive your diploma, you may choose to work in a corporate legal department handling employee benefits and contracts, or performing necessary regulatory research and analysis. Or, you may work for a small law firm and use your knowledge of all aspects of law, or a large law firm where you will specialize in criminal law or real estate law.

No matter what your interests, the paralegal field—with its unlimited variety of employers, specialties, and positions—likely holds the perfect opportunity for you and your dreams for the future.

Organizations that employ paralegals include:

Paralegals also work for federal, state, and local government, where there is an increasing need for additional paralegals. Large numbers of paralegals work for the Federal Deposit Insurance Corporation, the U.S. Department of Justice, the U.S. Department of Treasury, and the U.S. Department of Defense.

Additionally, community legal aid offices of federal and state government employ paralegals as:

Can I enroll in the Blackstone legal assistant / paralegal course without prior legal training?

Yes! If you are a motivated self-starter, you will find the home study course to be well-paced and easy to understand. You will learn to crawl before you have to walk. Then before you know it, you will be running towards your new and exciting career.

What will I receive when I enroll in the Blackstone legal assistant / paralegal course?

You will receive the materials, training, and support that you need to become an entry-level paralegal. Materials include:

Experts in the field of paralegal studies have prepared these materials. All materials have been time-tested and proven to provide students with the knowledge necessary to succeed. While comprehensive, the materials are also easy to understand because they are written in clear English. A detailed list of the items above can be viewed by clicking on the Materials tab at the top of this page.

The Blackstone program also provides the required clock hours needed to sit for the Certified Legal Assistant (CLA) examination administered by the National Association of Legal Assistants (NALA).