European Master and Certification Program
in Risk Engineering and Management

XIII-D
Business Continuity and Financial Risks

Course code: 175570
Language of instruction: English
Duration of the course: 33 days (297h)
Lecturers: Prof. Dr. Dr. h.c. Dirk Linowski (Steinbeis University Berlin), Ph.D. Reto Schneider (SWICA Gesundheitsorganisation)
Assessment: Written Exam Transfer Paper [optional topic for Project Study Paper]
Credit points: 10 CPs

Short description

The module complements other courses devoted to technical and engineering issues of risk management in industrial plants (petrochemical plants, process industry, power plants, etc.). Technical risks in the above plants can be a cause or a contributing factor in/for the business continuity and the final outcome of the technical/engineering activities is practically always to be seen on the background of business implications and implications/impacts to the business activities of a company. The insurance aspects are the most relevant practical aspect linking the engineering and business side of the company operation and asset management: therefore these will be tackled, too.

Fundamental theories of actuarial science in life insurance, health insurance, liability insurance and reinsurance are presented. It shows how to prepare business decisions applying the presented models and theories to generate ‘reasonable’ solutions. The module enable participants to understand and to apply the mechanics and techniques of the assessment, quantification and management of credit risk in the banking, insurance, asset management and enterprise environment. The aim of the module is to understand and also to implement the basic concepts, methods, products and measurement techniques of financial risk. Practical examples with the state-of-the art tools are applied by the student in terms of self-study and independent work.

Objectives

Module participants are expected to:

-have advance knowledge about the specificities of the financial field in terms of both products and risk management strategies
-Know how to handle an insurance contract
-Understand insurance aspects
-Know how to run the value-at-risk model and the conditional value at-risk model
-Understand the concepts and theories of credit risk (Portfolio, Derivatives, Ranking)
-Be able to apply the mechanics and techniques of the assessment, quantification and management of credit risk
 

Target Attendees / Participants

University students of Steinbeis European Master Program in Risk Engineering and Management, and similar programs.

Course Content by Units

Fundamentals of corporate finance
Quantitative risk management
Modeling and estimating of risk: Insurance vs. financial hedging
Financial hedging of commodity and currency risk
Performance of goodness-of-fit tests
Introduction to Enterprise Risk Management and Insurance and Risk Identification
Insurance Markets and Regulations
Reinsurance
Credit Ranking
Credit Scoring and Modelling Default
Credit Risk Portfolio Model
The Insurance Approach: CreditRisk+
Credit Derivatives
Bankruptcy
Value-at-Risk
CVaR
Scenario Analysis
Simulation techniques

 

Teaching Methods

The module includes:

  • introductory note explaining aim and structure of the courses, and used methodology as well
  • ex cathedra lecturing following the defined units
  • number of computational examples for each unit
  • case study from an insurance company
  • one individual and several collective exercises

Literature

Defined in the courses


For more information about the European Master and Certification Program in Risk Engineering and Management in general, go the Homepage.
For more information about the European Master Program in Risk Engineering and Management in general, go the Master Study page.
To see more courses in the curriculum, go to The curriculum page, or by date and topic go to the Calendar of Courses page.
Contact: via email sti889@risk-technologies.com or phone +49 711 1839 781 or +49 711 1839 647
(Course profile ID: XIII-D, generated on November 19, 2018)