Asset Liability Management: Techniques and Practices

OVERVIEW

This is a four day course focusing on Asset Liability Management (ALM) techniques and practices for financial intermediaries with long term liabilities like insurance companies and pension funds. This course is custom-tailored for World Bank staff from the original version of an internationally acclaimed course that has been conducted globally with the Society of Actuaries since 2003 and has been cosponsored by Standard & Poor’s as well as various actuarial organizations across North America, Europe, and Asia. This course has been approved for credit by the Chartered Financial Analyst (CFA) Institute.

This course provides not only the theory behind ALM, but also the practical knowledge that is not included in the textbooks. By attending this workshop participants will:

• learn about the key elements of an effective ALM framework
  
• practice advanced techniques for measuring risk exposure
  
• learn the limitations and pitfalls of various risk metrics
  
• become familiarized with best practices in formulating ALM strategies and designing ALM reports that effectively communicate risk exposure
  
• gain knowledge of ALM issues related to pensions and insurance companies
  
• become skilled at how to assess risk management capacity at the financial institution level or within supervisory authorities

Pre-reading material and reference lists will be provided to participants to ensure a common threshold level of knowledge for all participants. For more information on the course please see the attached document.

AML Course Description - 2006-12-04 (doc)

INSTRUCTORS

Charles L. Gilbert (FSA, FCIA, CFA) is president and founder of Nexus Generations which provides advanced risk management solutions to the financial services industry.   He is also a director of the Society of Actuaries Board of Governors and serves on numerous task forces and working groups related to risk management.

Mr. Gilbert does a wide range of asset liability management (ALM) work for insurance and reinsurance companies in Canada and the U.S.  Through a number of joint ventures, he also conducts on-going research, training, and asset management.   

Mr. Gilbert founded Nexus Generations in February 2002 and in 2003 entered into a joint venture with the Society of Actuaries to develop and conduct professional education courses on ALM globally.  These courses have become internationally acclaimed and have received glowing referrals from past participants. To date, over 400 ALM practitioners, senior managers, regulators, and analysts from around the world have attended the flagship course "Asset Liability Management Techniques and Practices."

Previously, Mr. Gilbert was assistant vice president of ALM and corporate actuary at ING Life where he was responsible for ALM, as well as the valuation, pricing, and financial management for investment products. He developed innovative strategies to immunize the interest rate risk exposure on universal life and other life products and researched various ways to manage the risk associated with investment guarantees on variable annuities and segregated funds. Prior to that, his experience included U.S. and Canadian taxation, valuation, and financial management.

Mr. Gilbert graduated cum laude from York University and has an honors BA in mathematics. He is a Fellow of the Canadian Institute of Actuaries, a Fellow of the Society of Actuaries, and a Chartered Financial Analyst.