A tailored course, built for your situation
Sources and specific examples on hand when peers push back on ORSA
Build unshakable reasoning for risk assumptions using NAIC ORSA and real-world precedent
$199 one-time
24-hour access provisioning
30-day money-back guarantee
Hand-built implementation playbook
12 modules. 12 chapters per module. 144 chapters total.
12 modules, each with 12 chapters (144 chapters total), text-based, plus downloadable templates and a hand-built implementation playbook delivered alongside course access.
Being questioned on risk assumptions without full backing
The situation this course is for
Risk professionals often face sharp challenges in cross-functional settings where assumptions are scrutinized without context. When capital models or scenario choices are questioned, practitioners need more than policy citations, they need documented reasoning, regulatory alignment, and clear examples to hold ground.
Who this is for
Senior risk practitioner in insurance or financial services, responsible for ORSA reporting or risk assumption governance
Who this is not for
Entry-level analysts, general compliance staff, or professionals outside risk governance frameworks
What you walk away with
- Defend ORSA risk assumptions with confidence using NAIC ORSA guidance and documented precedent
- Walk through the why behind stress test design, scenario selection, and capital allocation
- Reference real-world examples from past filings, peer reviews, and regulatory feedback
- Build a personal repository of defensible reasoning patterns for recurring challenges
- Respond to cross-functional pushback with structured, source-backed logic
The 12 modules (with all 144 chapters)
Module 1. ORSA as strategic narrative, not just compliance
Reframe ORSA from a regulatory requirement to a leadership communication tool. Anchor on NAIC ORSA guidance and how top-tier firms use it to shape executive decisions.
12 chapters in this module
- Why ORSA matters beyond submission
- NAIC ORSA guidance structure
- Strategic vs compliance framing
- How AIG uses ORSA internally
- Case example: Zurich ORSA filing
- Narrative flow in executive summaries
- Risk appetite alignment
- Connecting ORSA to capital planning
- Scenario selection logic
- Stress test justification
- Peer comparison benchmarks
- Avoiding common narrative pitfalls
Module 2. Rooting assumptions in documented precedent
Turn subjective risk choices into defensible positions by tying them to past events, regulatory feedback, or actuarial standards.
12 chapters in this module
- Finding precedent in annual reports
- Using SRQ responses as evidence
- Mapping assumptions to Solvency II parallels
- Public NAIC feedback patterns
- Actuarial opinion citations
- Internal audit findings as support
- Benchmarking against peer firms
- Documenting rationale early
- Version control for assumptions
- Linking to economic capital models
- Using CFTF summaries
- Building a reference library
Module 3. Defending stress test design choices
Justify which scenarios are included or excluded using regulatory expectations and historical market shocks.
12 chapters in this module
- NAIC stress test guidance
- Historical calibration events
- Interest rate shock logic
- Equity market downturn models
- Property catastrophe layers
- Liquidity stress triggers
- Pandemic scenario depth
- Climate risk integration
- Tail risk justification
- Time horizon selection
- Peer comparison thresholds
- Backtesting assumptions
Module 4. Explaining capital allocation logic
Clarify how capital is assigned across lines, including risk margins and diversification credits.
12 chapters in this module
- DAC vs economic capital
- Risk margin methodology
- Diversification benefit calculation
- Allocation to legacy blocks
- Reinsurance impact analysis
- Lapse risk adjustments
- Currency risk treatment
- Operational risk loading
- Expense volatility buffers
- Credit spread movements
- Liquidity add-ons
- Presenting allocation tradeoffs
Module 5. Handling scenario pushback from finance
Equip yourself to respond to challenges from FP&A or treasury teams on capital assumptions.
12 chapters in this module
- Finance team priorities
- Capital cost of risk assumptions
- ROE impact explanations
- Sensitivity disclosures
- Alternative scenario requests
- Response templates
- Common finance objections
- Aligning with IFRS 17
- Time horizon disagreements
- Probability weighting debates
- Model granularity expectations
- Escalation paths
Module 6. Withstanding actuarial scrutiny
Prepare for deep dives from internal or external actuaries on model inputs and assumptions.
12 chapters in this module
- Actuarial certification process
- Peer review expectations
- Model validation findings
- Reserving uncertainty ranges
- Tail factor justification
- IBNR loading logic
- Discount rate selection
- Stochastic vs deterministic
- Cohort-level assumptions
- Mortality improvement rates
- Lapse sensitivity testing
- Reinsurance credit assumptions
Module 7. Navigating internal audit challenges
Anticipate and address audit findings related to ORSA completeness and consistency.
12 chapters in this module
- Audit focus areas
- Finding: Inadequate scenario coverage
- Finding: Lack of documentation
- Finding: Inconsistent risk appetite
- Response drafting
- Evidence collection
- Sampling methodology
- Control assertion alignment
- Remediation planning
- Follow-up expectations
- Tone in audit responses
- Coordination with compliance
Module 8. Responding to regulatory inquiries
Use past NAIC inquiries and public responses to anticipate and shape your answers.
12 chapters in this module
- NAIC inquiry patterns
- Common request types
- Time pressure management
- Cross-state coordination
- Confidential treatment requests
- Drafting clear responses
- Escalation to legal
- Using ORSA to preempt queries
- Public disclosure boundaries
- Coordination with external counsel
- Document retention rules
- Lessons from enforcement actions
Module 9. Building defensible narratives for executives
Translate technical ORSA elements into executive-level insights without oversimplifying.
12 chapters in this module
- Executive time constraints
- Strategic risk framing
- Capital efficiency messaging
- Risk-return tradeoffs
- Scenario storytelling
- Visualizing risk exposure
- Avoiding technical jargon
- Highlighting management levers
- Board-level summaries
- Linking to M&A activity
- Performance under stress
- Future-looking disclosures
Module 10. Creating reusable defense artifacts
Develop templates and reference materials that compound across cycles.
12 chapters in this module
- Assumption rationale repository
- Standard response library
- Pre-approved scenario templates
- Glossary of definitions
- Cross-cycle consistency tracking
- Version comparison tools
- Stakeholder-specific briefings
- Internal training decks
- Defense playbook structure
- Update triggers
- Ownership assignments
- Retention and access controls
Module 11. Sourcing examples from public filings
Mine peer disclosures for defensible patterns and benchmarking opportunities.
12 chapters in this module
- Accessing ORSA summaries
- Reading between the lines
- Identifying conservative vs aggressive
- Stress test transparency levels
- Scenario inclusion trends
- Capital allocation patterns
- Narrative tone analysis
- Risk appetite statements
- Disclosure depth scoring
- Extracting usable examples
- Attribution best practices
- Updating reference set
Module 12. Owning the ORSA narrative end to end
Become the go-to practitioner for ORSA reasoning and defense across the organization.
12 chapters in this module
- Establishing authority
- Leading review sessions
- Setting documentation standards
- Mentoring junior staff
- Influencing framework updates
- Representing function externally
- Contributing to industry forums
- Publishing internally
- Speaking at risk council
- Driving consistency
- Measuring narrative impact
- Sustaining defensibility
How this maps to your situation
- Responding to finance team challenges
- Preparing for actuarial review
- Addressing internal audit findings
- Supporting executive decision-making
Before vs. after
Before
Reactive stance when assumptions are challenged, relying on memory or informal justifications
After
Confident, source-backed responses to ORSA-related challenges with documented examples and reasoning patterns
What's included with your purchase
- 12 modules with 12 chapters each (144 chapters)
- Downloadable templates and worked examples for every module
- Hand-built implementation playbook delivered alongside course access
- 30-day money-back guarantee
Delivery and format
- Course and learning environment access provisioned within 24 hours of purchase
- Hand-built implementation playbook delivered alongside course access
Format: Text-based modules and chapters in the Art of Service learning environment, plus downloadable templates and worked examples for every chapter, plus the hand-built implementation playbook delivered alongside course access.
Time investment: Approximately 3 hours per module, designed for just-in-time learning during active ORSA cycles
If nothing changes
Continuing to rely on ad-hoc justifications risks erosion of influence, increased scrutiny, and missed opportunities to shape risk strategy
How this compares to the alternatives
Unlike generic compliance courses, this program delivers specific, sourced reasoning patterns tied directly to NAIC ORSA expectations and real-world applications
Frequently asked
Is this course focused on U.S. or international frameworks?
It centers on NAIC ORSA, with references to Solvency II and other frameworks where alignment strengthens defensibility.
How is the course structured?
12 modules, each containing 12 chapters (144 chapters total).
Will this help me in cross-functional meetings?
Yes, every module builds your ability to explain and defend ORSA elements clearly and confidently to non-risk teams.
$199 one-time. Approximately 3 hours per module, designed for just-in-time learning during active ORSA cycles.
Within 24 hours your account in the learning environment is provisioned and the tailored implementation playbook is delivered alongside it.
30-day money-back guarantee·
144 chapters·
Hand-built playbook included·
Account access within 24 hours