The ASSA 2019 ERM Seminar
Held at Sandton Convention Centre, Johannesburg, 4 September 2019
01
02
Keynote Address
Given by Melanie Verwoerd
Melanie Verwoerd is a top rated political analyst and media personality from Cape Town, South Africa.
She was born into an Afrikaner family and grew up during the height of Apartheid in South Africa. Despite marrying Wilhelm Verwoerd, the grandson of the former Apartheid “architect” Prime Minister Hendrick Verwoerd, she joined the ANC and was elected as a Member of Parliament under Nelson Mandela in the country’s first democratic elections in 1994. At 27, she was the youngest female MP in the history of the South African parliament. After working on the writing of South Africa’s constitution and her re-reelection, she was appointed as South African Ambassador to Ireland. After her term ended in 2005 she was appointed as the Executive Director of UNICEF Ireland, a position she held until 2011.
Since her return to South Africa in 2013, she advises companies (both domestically and internationally) on political developments in South Africa and Africa. She does regular roadshows to asset management companies and other financial institutions, guest hosts radio shows for Cape Talk and 702 and writes a weekly opinion piece for News24. She is also a best-selling author and has published a memoir in addition to other works, including Our Madiba: Stories and reflections of those who met Nelson Mandela, launched in 2014 by Archbishop Tutu.
In 2007 Melanie received the International Woman of the Year Award in Ireland. In 2018 she was ranked one of the top two political analysts in South Africa in the Financial Mail analysts’ ratings.
Melanie Verwoerd is a top rated political analyst and media personality from Cape Town, South Africa.
She was born into an Afrikaner family and grew up during the height of Apartheid in South Africa. Despite marrying Wilhelm Verwoerd, the grandson of the former Apartheid “architect” Prime Minister Hendrick Verwoerd, she joined the ANC and was elected as a Member of Parliament under Nelson Mandela in the country’s first democratic elections in 1994. At 27, she was the youngest female MP in the history of the South African parliament. After working on the writing of South Africa’s constitution and her re-reelection, she was appointed as South African Ambassador to Ireland. After her term ended in 2005 she was appointed as the Executive Director of UNICEF Ireland, a position she held until 2011.
Since her return to South Africa in 2013, she advises companies (both domestically and internationally) on political developments in South Africa and Africa. She does regular roadshows to asset management companies and other financial institutions, guest hosts radio shows for Cape Talk and 702 and writes a weekly opinion piece for News24. She is also a best-selling author and has published a memoir in addition to other works, including Our Madiba: Stories and reflections of those who met Nelson Mandela, launched in 2014 by Archbishop Tutu.
In 2007 Melanie received the International Woman of the Year Award in Ireland. In 2018 she was ranked one of the top two political analysts in South Africa in the Financial Mail analysts’ ratings.
03
Liquidity Management for Insurers – Opportunity, Risk and Appetite
Given by: Herman Kalmer
Herman is a Risk Actuary, FRM holder and is currently studying economics through the London School of Economics. He heads up the ERCM function at QED with his team providing risk and capital management support to clients in SA and the rest of Africa. Herman started his career at the Regulator after which he worked in various consulting roles. He has more than 14 years’ experience in risk management, insurance, banking, employee benefits and financial regulation. Herman is passionate about extracting opportunity from risk in business and nature. His personal interests include mountaineering, travelling, reading and photography.
Herman is a Risk Actuary, FRM holder and is currently studying economics through the London School of Economics. He heads up the ERCM function at QED with his team providing risk and capital management support to clients in SA and the rest of Africa. Herman started his career at the Regulator after which he worked in various consulting roles. He has more than 14 years’ experience in risk management, insurance, banking, employee benefits and financial regulation. Herman is passionate about extracting opportunity from risk in business and nature. His personal interests include mountaineering, travelling, reading and photography.
04
Top-down Bank Stress Testing of Credit Losses and Deposits
Given by: Corne Conradie
Corné is a Fellow of the Actuarial Society of South Africa and the Institute and Faculty of Actuaries. He is the partner that is responsible for actuarial banking risk for the PwC Africa firm. Over the past 10 years he has gained experience in various forms of financial modelling including bank impairment, capital and stress testing, life insurance reserving and financial instrument valuation.
Corné is a Fellow of the Actuarial Society of South Africa and the Institute and Faculty of Actuaries. He is the partner that is responsible for actuarial banking risk for the PwC Africa firm. Over the past 10 years he has gained experience in various forms of financial modelling including bank impairment, capital and stress testing, life insurance reserving and financial instrument valuation.
05
Cyber Risk: A View from an Ethical Hacker Firm
Given by: Manny Corregedor and Dino Covotsos
Manny is the COO at Telspace Systems. Manny has a passion for Information Security and over the years has gained a significant amount of knowledge and experience in both the technical (operational) and management areas of Information Security. Manny throughout his career has been involved in Information Security related research, training, awareness and advisory projects targeting industry sectors, large financial/government institutions, multinational organisations and SMEs.
Manny was a full time lecturer at the University of Johannesburg (UJ) where he specialised in the fields of Software Engineering and Information Security. Manny currently, when requested and/or required, provides specialised and tailor made Information Security training to different teams within organisations. Manny also facilitates and speaks at numerous conferences as well as partaking in radio interviews and forming part of specialist panels. Manny has done a significant amount of research in the area of malware and anti-malware techniques. Manny holds a number of degrees from the University of Johannesburg as well as a number of Information Security related certifications.
Dino Covotsos is the founder and CEO of Telspace Systems. With over 20 years of experience, he leads the research and technical team at Telspace. Covotsos has many years of experience in the information security sector and has been involved in hundreds of information security projects worldwide. He is also a well-known presenter at international conferences, including Hack In the Box, Sector, H2HC, DEF CON and many more. Covotsos is also passionate about the information security community and is involved various community based projects. Covotsos is also on the CFP review board for DEF CON (Workshops) and has several industry certifications, such as the OSCE, OSCP, OSWP and CREST CRT.
Manny is the COO at Telspace Systems. Manny has a passion for Information Security and over the years has gained a significant amount of knowledge and experience in both the technical (operational) and management areas of Information Security. Manny throughout his career has been involved in Information Security related research, training, awareness and advisory projects targeting industry sectors, large financial/government institutions, multinational organisations and SMEs.
Manny was a full time lecturer at the University of Johannesburg (UJ) where he specialised in the fields of Software Engineering and Information Security. Manny currently, when requested and/or required, provides specialised and tailor made Information Security training to different teams within organisations. Manny also facilitates and speaks at numerous conferences as well as partaking in radio interviews and forming part of specialist panels. Manny has done a significant amount of research in the area of malware and anti-malware techniques. Manny holds a number of degrees from the University of Johannesburg as well as a number of Information Security related certifications.
Dino Covotsos is the founder and CEO of Telspace Systems. With over 20 years of experience, he leads the research and technical team at Telspace. Covotsos has many years of experience in the information security sector and has been involved in hundreds of information security projects worldwide. He is also a well-known presenter at international conferences, including Hack In the Box, Sector, H2HC, DEF CON and many more. Covotsos is also passionate about the information security community and is involved various community based projects. Covotsos is also on the CFP review board for DEF CON (Workshops) and has several industry certifications, such as the OSCE, OSCP, OSWP and CREST CRT.
06
Underwriting and Reinsurance Governance
Given by: Adriaan Ras
Adriaan is with Santam and is based in both Cape Town and Johannesburg. His responsibilities are ERM and appointed head of risk for a number of Santam's entities, model governance and validation, contributing to Santam's approval of its internal model by the Prudential Authority, which is a first in Africa.
Adriaan is with Santam and is based in both Cape Town and Johannesburg. His responsibilities are ERM and appointed head of risk for a number of Santam's entities, model governance and validation, contributing to Santam's approval of its internal model by the Prudential Authority, which is a first in Africa.
07
Changing Tropical Cyclone Patterns under Climate Change: Challenges for the Insurance Sector
Given by: Dr Jennifer Fitchett
Dr Jennifer Fitchett is a senior lecturer in physical geography in the school of geography, archaeology and environmental studies at the University of the Witwatersrand. She graduated with her PhD in palaeoclimatology in 2015, which was completed through a split site programme at the University of the Witwatersrand and University College London. Her research explores climate change over long (tens of thousands of years) to short (decades) time periods, and the impacts on natural and human environments. She has published 40 journal articles, 4 book chapters and 3 conference proceedings to date.
Dr Jennifer Fitchett is a senior lecturer in physical geography in the school of geography, archaeology and environmental studies at the University of the Witwatersrand. She graduated with her PhD in palaeoclimatology in 2015, which was completed through a split site programme at the University of the Witwatersrand and University College London. Her research explores climate change over long (tens of thousands of years) to short (decades) time periods, and the impacts on natural and human environments. She has published 40 journal articles, 4 book chapters and 3 conference proceedings to date.
08
Climate Change – Regulatory Impacts
Given by: Tiaan Henning
Tiaan Henning is an Analyst in the Policy, Statistics and Industry Support department of the Prudential Authority. He holds an Honours degree in Actuarial Science together with higher certificates in Big Data and Leadership. He worked in the short-term insurance industry for 5 years where he was involved in the space of pricing, reserving and capital management. He then found the urge in 2012 to work for the insurance regulator in South Africa (i.e. the Financial Services Board at the time). He worked in both the Actuarial Risk team and the SAM project team.
Tiaan represents the Prudential Authority on the following initiatives:
• Sustainable Insurance Forum, a global platform for international collaboration by insurance regulators and supervisors on sustainability issues;
• Agricultural Steering Committee, a South African Insurance Association initiative that looks into sustainability in the Agricultural sector; and
• Sustainable Finance Working Group, a working group formed by the Department of the National Treasury in South Africa.
Tiaan Henning is an Analyst in the Policy, Statistics and Industry Support department of the Prudential Authority. He holds an Honours degree in Actuarial Science together with higher certificates in Big Data and Leadership. He worked in the short-term insurance industry for 5 years where he was involved in the space of pricing, reserving and capital management. He then found the urge in 2012 to work for the insurance regulator in South Africa (i.e. the Financial Services Board at the time). He worked in both the Actuarial Risk team and the SAM project team.
Tiaan represents the Prudential Authority on the following initiatives:
• Sustainable Insurance Forum, a global platform for international collaboration by insurance regulators and supervisors on sustainability issues;
• Agricultural Steering Committee, a South African Insurance Association initiative that looks into sustainability in the Agricultural sector; and
• Sustainable Finance Working Group, a working group formed by the Department of the National Treasury in South Africa.
09
Risk Management in Public Entities
Given by: Lusani Mulaudzi - MD Grassroots Impact Solutions (PTY) LTD
Lusani Mulaudzi is a Healthcare Actuary with over 12 years of experience. He is the founder and director of Grassroots Impact Solutions (PTY) LTD. He started his working career at Sanlam as a Valuations Consultant focusing mostly on valuing Group risk benefits such as disability income and lump sum benefits. He later moved on to Medscheme where as Healthcare Actuary he led the pricing and reserving team for a number of medical scheme clients. Apart from his normal work, Lusani has been involved in the development of the actuarial profession through his participation in the Actuarial Society of South Africa since 2010. He has served on the Council of the Actuarial Society of South Africa for over 7 years and will be the President of the organization in 2020 and 2021. He is the Deputy Chair of the Education Board of ASSA, chairs the transformation committee and is a former Principal of the Academy of the Actuarial Society.
He currently chairs the risk committee of an insurance company in South Africa and he is also a part-time Public Interest Actuary for the Actuarial Society of South Africa. He is a trained Design thinking practitioner and is passionate about innovation.
Lusani Mulaudzi is a Healthcare Actuary with over 12 years of experience. He is the founder and director of Grassroots Impact Solutions (PTY) LTD. He started his working career at Sanlam as a Valuations Consultant focusing mostly on valuing Group risk benefits such as disability income and lump sum benefits. He later moved on to Medscheme where as Healthcare Actuary he led the pricing and reserving team for a number of medical scheme clients. Apart from his normal work, Lusani has been involved in the development of the actuarial profession through his participation in the Actuarial Society of South Africa since 2010. He has served on the Council of the Actuarial Society of South Africa for over 7 years and will be the President of the organization in 2020 and 2021. He is the Deputy Chair of the Education Board of ASSA, chairs the transformation committee and is a former Principal of the Academy of the Actuarial Society.
He currently chairs the risk committee of an insurance company in South Africa and he is also a part-time Public Interest Actuary for the Actuarial Society of South Africa. He is a trained Design thinking practitioner and is passionate about innovation.
10
Combined Assurance – Hollard’s Journey
Given by: Wikus Luus
• Joined Hollard 7 years ago as CRO.
• Recently added Chief Actuary role to portfolio.
• Prior to that spent 7 years consulting with PwC in London and SA.
• FASSA & FIA since 2004
Responsible for developing and rolling out Hollard’s combined assurance model for last 4 years, looking forward to sharing insights and lessons learnt
• Joined Hollard 7 years ago as CRO.
• Recently added Chief Actuary role to portfolio.
• Prior to that spent 7 years consulting with PwC in London and SA.
• FASSA & FIA since 2004
Responsible for developing and rolling out Hollard’s combined assurance model for last 4 years, looking forward to sharing insights and lessons learnt
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