Insurance Accounting for Underwriters Course

The key objective of this Global Investment Performance Standards (GIPS) training course is to empower professionals with—
• detailed information and knowledge of GIPS and related concepts
• the experience, confidence and knowledge to train other professionals on critical aspects related to GIPS
• the understanding and experience to successfully function across any sphere of work related to investment performance, be it as an asset owner, an investment organisation or a verifier
• the eye for detail and exposure to review existing practices and protocols of one’s organisation to check for the scope for revision in order to be GIPS compliant
• the awareness and understanding to make good use of being GIPS compliant to garner interests of potential investors to grow one’s business multi-fold
• the foresight and maturity to foresee potential challenges and risks related to GIPS implementation and maintenance and to ensure successful compliance
• the experience, knowledge and exposure to undertake positions of international business relations, thereby proving to be a complete asset to one’s organisation and securing one’s future prospects therein
• the overall experience and skillset to work in any area of GIPS compliance, thereby increasing one’s opportunities for career growth and progression

Course Content
Global Investment Performance Standards (GIPS) – An Overview
• History
• Definition and governance
• Objectives and purpose
Benefits of Compliance with GIPS (2020) – Asset Owners
• Voluntary commitment to performance transparency and comparability
• Adherence to global best practices of investment performance valuation
• Establishment of strong investment performance procedures and policies
• Same performance standards for external investment manager hiring
Benefits of Compliance with GIPS 2020 – Verifiers
• Consolidation of verification guidance
• Revised verification report language
• New verification planning requirements
• Highlights of required testing procedures
• Maintenance of verifier documentation
Benefits of Compliance with GIPS 2020 – Firms
• Greater trust and investor interests
• Performance comparability
• Ethical and uniform practices across the competition
• Global prospects
Sections of GIPS (2020) for Firms
• Compliance fundamentals
• Input data/calculation methodology
• Composite and pooled fund maintenance
• Composite time-weighted return report
• Composite money-weighted return report
• Pooled fund time-weighted return report
• Pooled fund money-weighted return report
• GIPS advertising guidelines
Key Changes Between GIPS 2010 and GIPS 2020
• Differentiated reporting for composite versus pooled funds
• More focus on portfolio structure/less on asset classes
• More flexibility for use of money-weighted funds versus time-weighted funds
• Ability to declare carved-out performance with allocated cash
• Greater options for advertising GIPS compliance
Verification Phases
• Planning
• Testing
• Testing procedure wrap-up
• Management representation letter
• GIPS verification report
GIPS Verification Procedures
• Understand firm and policies/procedures
• Understand valuation and performance calculations
• Review firm definition and assets
• Review asset existence and ownership
• Review composite membership/benchmarks/presentations
• Review list of composite descriptions
Confusing Aspects of GIPS
• Discretion
• Minimum account size
• Large vs. significant cash flows
• Composite construction
• Verification
• Standard deviation
• Advertising guidelines

METHODOLOGY
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.

DATE:
1ST BATCH: 2nd – 4th Apr,2025
2ND BATCH: 5th – 8th Aug,2025
3RD BATCH: 25th- 28th Nov,2025