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:
Pension
Design and administration of retirement benefit schemes
Actuarial valuation of retirement benefit schemes
Reviewing and drafting legislation and regulations (from an actuarial perspective)
Advising on investment strategy and investment policy statement
Pension fund risk management
Insurance
Insurance product design and development
Pricing and assessment of premiums adequacy
Actuarial valuation of insurance liabilities and reserving
Assessment of compliance with the Minimum Capital Requirement
Advising on investment strategy and investment policy statement
Asset Liability Management
Assessment of optimal reinsurance strategy
Financial Condition Reporting
Risk analysis and management
Banks and other Corporate Bodies
Customer Lifetime Value(CLV) calculations
Market analytics – Return on Investment (RoI) Optimization
Analysis of financial transactions to trigger clients’ retention strategy
Credit risk modeling and credit provisioning in line with IFRS 9
Liquidity risk modelling
Risk analysis and management
Valuation of financial assets
Assessment of optimal insurance strategy
Short Term Training
We design and run short term competence-based learning programs running for a maximum of five days. The training programs cover the following courses:
Administration of Retirement Benefit Plans
Corporate Governance and Risk Management
Credit Risk Analysis and Modelling
Liquidity Risk Management
Actuarial Theory and Practice
Modelling of Employee Benefit and Public Pension Schemes
Modelling Insurance Liabilities (Life and Non-Life Business)
Retirement Planning
Quality Management Systems
Enterprise Risk Management
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:
Health Check 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.
Implementation Support 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.
Professional Standards
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:
Our services are provided professionally and with due care
The results we provide are relevant, presented clearly, and are complete
The assumptions and methodology used are explained and disclosed clearly
We consider all of the relevant features concerning the assignment and the law
Conflicts of interest are identified and managed appropriately
Data used in our investigations are subject to sufficient scrutiny and checking for the purpose
