ARC offers actuarial and risk consultancies that provide effective advice and guidance to Management on issues relating to retirement and other benefits, actuarial, financial modelling, and risk management functions within social security funds, private pension scheme trustees and sponsors, general and life (re)insurance companies, banks and other corporations, not-for-profit organizations, and SMEs.
Our expert services are classified as follows:
We design and run short term competence-based learning programs running for a maximum of five days. The training programs cover the following courses:
We work closely with the key personnel and Management of our client to develop and implement a successful Risk Management framework aligned with the requirement of global risk governance frameworks. We generally embed Risk Management for the Insurer as a four-step process:
An assessment of the existing Risk Management System against the requirements of a designated risk governance framework and the best practice, then providing recommendations to address the gaps.
Awareness and Training
Creating awareness to obtain buy-in and build up Corporate Risk Culture. The training is conducted to the Board, Management and all staff.
Designing Risk Management System
Developing the Risk Management System that addresses gaps observed during health checks. The Risk Management System shall include the following key components:
i.) Risk Classification – financial and non-financial risks customized to the business strategy
ii.) Risk Management Strategy – documentation to demonstrate the purpose of risk management, business strategy, risk management objectives, risk model, risk response strategies, risk management roles and responsibilities, and integration of risk and strategic planning);
iii.) Risk management policies relating to core and support business processes aligned to the business strategy; and
iv.) Risk Management Process – document risk management process necessary to identify, measure, monitor, manage and report the risks, at an individual and an aggregate level. The risk management process is based on the adopted risk governance framework.
Providing necessary support to perform Risk and Control Self-Assessment(RCSA) including the development of key documents, developing risk appetite statement, application of risk management system to support performance, and development of Risk Management Information Pack.
We have accomplished actuarial projects in the past two years and we provide the list of clients and assignments for your reference.
Our actuaries are members of the UK Institute and Faculty of Actuaries (“IFoA”) and follow the actuarial codes, standards and guidance provided by the IFoA, the Financial Reporting Council’s Board of Actuarial Standards and the International Standards of Actuarial Practice.
The professional standards that we follow are comprehensive, wide ranging and help to ensure that: