Insurance Industry Entity Level Controls - In-Person
Master the Fundamentals of Entity Level Controls for Insurance Industry Compliance
The Insurance Industry Entity Level Controls – In-Person CPE Training Event is a targeted program designed to equip professionals with the skills and knowledge to establish effective entity level controls (ELCs) in line with SOX compliance, NAIC Model Laws, and corporate governance requirements. This comprehensive session focuses on navigating regulatory standards, improving risk management, and maintaining financial reporting excellence in the insurance industry while offering 4 CPE credits to advance your career.
Why Attend?
Earn 4 CPE Credits - Stay ahead professionally by earning credits while mastering entity level controls specific to the insurance sector.
Navigate SOX and NAIC Compliance - Gain detailed insights into regulatory requirements and best practices for developing and maintaining compliance-ready ELCs.
Strengthen Risk Mitigation Efforts - Learn to design and implement controls that minimize compliance risks and address core business objectives.
Hands-On Expertise - Participate in practical case studies and exercises led by industry professionals to apply direct solutions to real-world scenarios.
What You’ll Learn
This course offers step-by-step guidance on creating, implementing, and assessing entity level controls, ensuring alignment with regulatory frameworks while supporting operational objectives.
You’ll learn to:
Comprehend ELC Requirements - Understand the role of ELCs in SOX and NAIC Model Law compliance for governance and fraud prevention.
Assess Current ELC Frameworks - Identify gaps in your company’s controls and evaluate existing processes for effectiveness.
Plan and Implement Controls - Build actionable strategies to establish compliance-ready ELCs, including necessary system and procedural changes.
Test and Monitor Controls - Create a control self-assessment program to test ELC performance and ensure adherence to regulations.
Document and Report - Maintain detailed records of assessments, implementations, and ongoing updates to meet audit and compliance demands.
Apply Best Practices - Leverage industry-leading strategies to maintain effective ELCs and respond proactively to regulatory changes.
Training Highlights
Gain a 360-degree understanding of ELCs in the insurance industry through a professional and interactive learning environment. Key features of this training include:
Regulation-Focused Curriculum - Explore the specific ELC requirements under SOX and NAIC corporate governance standards.
Practical Exercises - Use hands-on learning opportunities to assess, design, and evaluate ELC frameworks in real-life scenarios.
Expert-Led Sessions - Engage with professionals who bring critical real-world experience in risk, compliance, and auditing.
Tailored for Industry Professionals - Designed specifically for internal auditors, control professionals, and compliance officers in the insurance sector.
Key Agenda Topics
This robust training program includes an in-depth exploration of the following topics to ensure comprehensive knowledge and application of ELCs within an insurance framework:
Foundations of Entity Level Controls - Introduction to the purpose and necessity of effective ELCs.
Regulatory Requirements Overview - Detailed review of SOX compliance and NAIC Model Laws for corporate governance.
Assessing Current Controls - Learn techniques for identifying gaps and evaluating your organization's existing control systems.
Planning and Implementation - Explore practical methods for developing and implementing new ELCs to align with audit requirements.
Testing and Monitoring - Establish and manage self-assessment programs to regularly test controls for operational efficiency.
Documentation and Reporting - Create comprehensive records and generate actionable reports for management and audit committees.
Best Practices and Continuous Monitoring - Learn how to maintain effective ELCs through ongoing updates and compliance strategies.
Key Challenges and Solutions - Discuss common issues in ELC management and how to effectively address them in the insurance industry.
Event Details
- Format: Live, in-person training hosted by experienced professionals.
- Schedule:
- Monday Afternoon (1:30 p.m. – 5 p.m.)
- CPE Credits: 4 hours of NASBA-approved credits upon completion.
- Cost: $395 per attendee.
- Location: Offered in major cities nationwide.
- Prerequisites: Participants should have basic knowledge of internal control frameworks.
Who Should Attend?
This training is ideal for professionals responsible for internal controls, compliance, and entity-wide risk management strategies in the insurance sector, including:
- Internal Auditors focusing on compliance and risk mitigation.
- Finance and Accounting Professionals aiming to align reporting practices with regulatory requirements.
- Compliance Officers tasked with implementing and maintaining corporate governance standards.
- Risk Management Professionals working to enhance organizational controls.
Why Master ELCs?
Establishing and maintaining effective entity level controls is essential in today’s regulatory landscape. Proper ELCs not only ensure SOX and NAIC compliance but also protect organizations from financial misstatements, operational disruptions, and reputational risks. This training gives you the tools to confidently manage compliance requirements and contribute to your organization’s long-term stability.
Register Today
Don’t miss this opportunity to gain actionable insights into entity level controls for the insurance industry. Earn 4 CPE credits while strengthening your skills in assessing, developing, and maintaining compliance-ready controls.
Register now to join the Insurance Industry Entity Level Controls – In-Person CPE Training Event and elevate your professional capabilities in risk and compliance management!
Details on Event Presentation
The sessions will be as follows:
Monday – 1:30 p.m. to 5:00 p.m.
Offered in-person in various cities
CPE Event Highlights
This CPE event covers the following actions concerning entity level controls required for annual compliance programs:
1. Assess the company's current controls: Identify the key areas of financial reporting that are relevant to the company and evaluate the existing controls in place to ensure their effectiveness.
2. Develop a plan: Based on the assessment, develop a plan that outlines the specific controls that need to be put in place to comply with MAR requirements.
3. Implement the controls: Put the controls in place, including any necessary changes to processes, procedures, and systems.
4. Test the controls: Using a “control self-assessment program” to regularly test the controls to ensure they are working as intended and are effective.
5. Document the controls: Keep detailed documentation of the controls, including the assessment, plan, implementation, testing, and any updates made over time.
6. Monitor and report: Regularly monitor the controls and report any deficiencies to the appropriate parties, including management and the audit committee.
Learning Objectives
The Learning Objectives include:
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Understand the importance of establishing entity level controls in the insurance industry.
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Comprehend the regulatory requirements for entity level controls in the insurance industry, including the Sarbanes-Oxley Act (SOX) and National Association of Insurance Commissioners (NAIC) model laws concerning corporate governance.
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Assess the current entity level controls of an insurance organization and identify key areas of financial reporting that are relevant to the company.
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Develop a plan for entity level controls that outlines the specific controls that need to be put in place to comply with NAIC requirements.
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Implement entity level controls, including any necessary changes to processes, procedures, and systems.
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Test the entity level controls to ensure they are working as intended and are effective in detecting and preventing errors or fraud.
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Document the entity level controls, including the assessment, plan, implementation, testing, and any updates made over time.
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Monitor the entity level controls and report any deficiencies to the appropriate parties, including management and the audit committee.
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Identify best practices for maintaining effective entity level controls in an insurance organization over time, including continuous monitoring and regular updates to stay current with regulatory requirements.
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Apply the concepts and techniques learned during the training through hands-on exercises and case studies.
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Evaluate the effectiveness of entity level controls in an insurance organization and provide recommendations for improvement.
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Gain knowledge of the latest trends and challenges in entity level controls for the insurance industry.
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Key Issues on the Agenda
1. Introduction to Entity Level Controls (ELCs) and their importance in ensuring compliance and mitigating risk in an insurance organization.
2. Overview of regulatory requirements for ELCs, including the Sarbanes-Oxley Act (SOX) and National Association of Insurance Commissioners (NAIC) model law requirements for corporate governance.
3. Assessment of current ELCs: Identifying key areas of financial reporting and evaluating existing controls in place to ensure their effectiveness.
4. Planning and Implementation: Developing a plan for ELCs and putting controls in place, including any necessary changes to processes, procedures, and systems.
5. Testing and Monitoring: Regularly testing the controls to ensure they are working as intended and are effective in detecting and preventing errors or fraud.
6. Documentation and Reporting: Keep detailed documentation of the controls, including the assessment, plan, implementation, testing, and any updates made over time.
7. Best practices for maintaining effective ELCs in an insurance organization over time, including continuous monitoring and regular updates to stay current with regulatory requirements.
8. Conclusion and next steps for ongoing compliance and risk management efforts in the insurance organization.
NASBA Program Disclosure
Program Level of Understanding: Intermediate to Advanced
Prerequisites: Participants should come with a knowledge of internal control frameworks.
Advance Preparation: A number of documents will be provided in advance.
Delivery Format: On-site Training (Group-Live); Seminar (Group-Live)
NASBA Field(s) of Study: Auditing
CPE Credits: 4, based on 50 minutes of instruction per hour.Summary of the Subject Matter
The Insurance Industry Entity Level Controls CPE program is a training program designed for internal audit professionals in the insurance industry. The program provides an in-depth understanding of how to establish entity level controls for SOX and NAIC compliance. The program covers the regulatory requirements for entity level controls, assessment of current controls, planning and implementation of new controls, testing and monitoring, documentation and reporting, and best practices for maintaining effective controls.