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VM-G Governance

Date
October 14, 2016

Competencies

External Forces & Industry Knowledge

Presented by

Financial Reporting and Smaller Insurance Company Sections

Time

Noon-1:30 p.m. ET

Location

This webcast takes place via the Internet.

Registration Fees

Registration is now closed. The SOA Customer Service Center is available to assist you Monday through Friday, 8:00 a.m. to 5:00 p.m. CDT. Please call +1-888-697-3900.

Who Should Participate

Members of the following sections: Financial Reporting, Marketing and Distribution, Product Development, Reinsurance, Smaller Insurance Company and Taxation

Primary Competencies

EF

Description

The new valuation manual has an entire section devoted to governance and the roles of management and actuaries. This webcast will cover the key items in VM-G including changes from existing practice. Presenters will discuss their implications for the board, senior management, appointed actuaries and qualified actuaries involved in VM-20 calculations. Some of the key items that will be discussed include:

  • Reviewing and approving implementation, assumptions, methods and models;
  • Internal standards and controls;
  • Resolving issues or weaknesses with the VM-20 process;
  • Relying on others;
  • Inconclusive opinions;
  • Relationship of VM-G to other company risk assessment activities such as ERM, ORSA and MAR activities;
  • Oversight of the VM-20 process and decisions that come out of it;
  • Capturing all risks; and
  • Required disclosures.

This webcast is part of a series focused on PBR for life insurance (VM-20) and includes these additional webcasts:

July 28, 2016      VM-20 Assumption Guidance

Aug. 4, 2016       VM-31 Documentation Requirements and the PBR Actuarial Report

Sept. 28, 2016   VM-20 Prudent Estimate Mortality

Nov. 17, 2016     VM-20 Asset Modeling

Participate in one or all of the webcasts. Register for each separately.

How the live webcast works and what it includes

You do not need any special equipment. On Oct. 13, 2016, before 2:00 p.m. ET you will be sent detailed webcast instructions via email including the Web address for accessing the presentation. Any handouts that are available will also be sent. You will follow along with both the slide presentation and the audio portion of the broadcast over the Internet. Telephone-based audio will also be available.

The registration fee includes:

  • One access code to the live webcast;
  • One Internet connection;
  • One set of presentation materials; and
  • Access to the subsequent webcast recording.

Please note that each access code may only be used for one location, even if you register for more than one participant.

Post-Webcast Purchase Opportunity

For those who are interested in SOA webcasts but are unable to participate in the live event, access to an archived recording of the webcast will be available for purchase approximately 10 business days following the event by using the following link .