ERM: Solving the Puzzle, Enterprise Risk Management Study Group

ERM: Solving the Puzzle
Enterprise Risk Management Study Group – 2014/15

Kick-off Workshop September 4, 2014 in Austin, Texas.

Get ahead of the curve with this offering from the American Fraternal Alliance that will help you create a tailored plan ready to identify and assess risk and satisfy regulators. This study group will help you set roles and responsibilities for the team and provide you with the communication strategies that you need to report to senior management, board members, regulators and other stakeholders.

In this year-long study group, you’ll learn the tools and techniques for developing a risk management program that complies with regulatory statutes and delivers value to the organization. Act quickly. Space is limited to 10 participants.

Study Group facilitator and Team Leader and Risk Expert, Denny Groner, is a risk management and compliance consultant with fraternal experience. He will work closely with a small group of fraternal leaders over a 12-month period to guide them through the creation of an ERM framework for their society. Take advantage of this value. Many other organizations have paid tens of thousands of dollars to begin this process.

Why Participate?:

Departments of Insurance are short-handed, underfunded and support all insurers completing NAIC’s ORSA (Own Risk and Solvency Assessment) regardless of size. Be proactive by participating in this Alliance study group and come away with a plan ready to implement at a price that’s very affordable.

Tuition Cost: $5,250

Overall Objectives of the Study Group:

Understand the overall Enterprise Risk Management (ERM) process and its role in strategic business management

Develop a process for:

  • Educating company executives, management, board and employees about ERM
  • Identifying and assessing a wide range of  risks
  • Implementing and managing risk control practices and evaluating effectiveness

For the Price of Tuition, Participating Societies will Receive:

  • Full day of training/consultation at your home office by the Risk Expert in late 2014 or early 2015 (Society pays travel expenses.)
  • Hands-on workshop in Austin, Texas, where you will learn principals from our Risk Expert and network with other study group participants
  • 3-4 Tele-Conference Classes with the Study Group and Risk Expert
  • Three “homework assignments” reviewed by the Risk Expert
  • Six hours of telephone support provided by the Risk Expert with each society

This 12-Month Course Also Features:

  • A small class size limited to 10 fraternals for personalized attention
  • Allows your “risk manager” to learn all facets of your operation and grow into a higher leadership role
  • Access to a private online member community created for this group to share ideas and learn from each other

Types of Risk Addressed:

  • Investment (Low or changing interest rate; losses)
  • Regulatory (Failure to meet or file properly)
  • Product (Mix, underwriting)
  • Marketing (Declining membership; distribution issues)
  • Society (Outdated governance; catastrophic event; employee related)
  • Financial Management (Unqualified board; dividend errors; improper handling of funds)
  • Data Risks (Breaches; system failure or errors)
  • Industry (Rating agency downgrades; regulation)
  • Legal (Legal actions against officers, board, agents, society)

Requirements:

Participating societies must be active and contribute to the learning environment by:

  • Identifying an individual to act as your society’s “Risk Manager”
  • Attending the Kick-Off Workshop in Austin, Texas
  • Participating in all teleconferences and homework assignments in some fashion
  • Be willing to talk about your experience to other societies in a future educational event
  • Agree to abide by all obligations noted in the participation agreement

Questions?:

For more information contact:
Allison Koppel, Executive Vice President,
at akoppel@FraternalAlliance.org.