Course Details
Course Outline
5 days course
Introduction to Social Security
- Introduction to the concept of social security and its significance
- Discussing the evolution of social security
- Exploring types of social security benefits and how each works:
- Retirement benefits
- Disability benefits
- Spousal benefits
- Survivor benefits
- Medical benefits
- Eligibility requirements for social security benefits
- Case study: Analyzing examples of social security systems and highlighting its main features and challenges
Social Security Fundamentals
- Understanding how social security system is funded:
- Taxation
- Trust funds
- Trust fund investments
- Pay-as-you-go financing
- Daily funding operations
- Formulas for calculating social security:
- Primary insurance amount (PIA)
- Inflation-adjusted earnings base
- Average indexed monthly earnings (AIME)
- Bend point percentages
- Utilizing SSA tools to calculate social security benefits
- Understanding the payment of social security benefits
- Discussing social security regulations and standards
Risk Management in Social Security:
- Risk categories in social security systems:
- Financial risks
- Insurance and demographic risks
- Strategic risk
- Operational risks
- Understanding the enterprise risk management (ERM) approach and its role in managing social security systems risk
- Exploring the process of risk management:
- Strategic planning
- Risk identification and analysis
- Risk measurement
- Risk control & treatment
- Risk monitoring & reporting
- Understanding how to strategically plan for risk management
- Discussing how to identify risk in social security systems
Risk Analysis, Assessment & Control
- Exploring the process of analyzing risks:
- Describing and categorize risks
- Analyzing likelihood and severity
- Documenting risk
- Mapping and prioritizing risk
- Understanding the importance of developing risk registers and risk maps
- Developing key risk indicators (KRIs) to measure risk
- Discussing when to tolerance, element, transfer, or transform risk
- Exercise: Develop risk registers, risk map, KRIs and action plan
Risk Monitoring & Reporting
- Discussing the need for ongoing monitoring and surveillance process
- Tools and techniques for risk monitoring
- Best practices for reporting and communicating risk
- Techniques to build a comprehensive risk management system
- Exploring future trends and global practices in social security risk management
- Final presentation of risk management plan
- Course recap and Q&A
