Services

Risk ManagementLife Office Practice |General Insurance Practice | Training |Personal Financial Planning | Pension Plans

1. Risk Management

  • Enterprise wide risk management (ERM)
  • Project assessments, evaluation and consulting
  • Forecasting and projections under uncertainty
  • Project planning
  • Early warning systems design

2. Pension Plans

  • Advice on the Design and Implementation of Pension Plans including writing of Trust Deed and Rules and the Approval of Trust Deed and Rules from relevant government agency
  • Modification of Trust Deed and Rules
  • Selection of Investment Manager
  • Selection of Administration Manager
  • Actuarial (Funding) Valuations
  • IA S19 (Accounting) Valuations
  • Winding-up of Pension Plans
  • Special Service in Pension Plan Management (See enclosed document for details)
  • Help to craft and draft Investment Policy Statement Document for Pension Plans (This is offered on a Retainer Basis)

3. Life Office Practice

  • Product Design and Pricing
  • Actuarial Valuations
  • Expense Analysis
  • Model Office Projections
  • Feasibility Studies for Start-up Companies and development of Life Administration Systems
  • Annual Returns to the Financial Services Commission
  • Investment Policy

4. General Insurance Practice

  • Product Design and Pricing (Ratemaking)
  • Marketing Programs
  • Risk Analyses
  • Enterprise Risk Management (ERM)
  • Expense Analysis
  • Actuarial Valuations including determination of IBNR
  • Experience Studies
  • Acquisitions and Mergers
  • Model Office Projections
  • Dynamic Capital Adequacy Tests (DCAT)
  • Business Plans
  • Feasibility Studies for Start-up Companies
  • Annual Returns to the Financial Services Commission (FSC)
  • Minimum Asset Test (MAT)
  • Investment Policy
  • Asset/Liability Management
  • Actuarial Advice/Management to any Fund whose financial soundness/profitability depends on mortality and/or other causes of decrement e.g. Deposit Insurance or Crop Insurance

5. Executive Compensation Systems

6. Design of Financial/Investment Products for the institutions that offer same and for the employees of companies

7. Selection of staff for companies in the areas of:

  • Actuarial Science
  • Investment
  • Finance
  • Statistical Analysis
  • Pensions Administrators
  • Health Insurance Administrators
  • Group Insurance Administrators
  • Pensions Sales/Marketing Personnel
  • Other

8. Sourcing and configuration of software to administer Pension Plans

9. Complete service of Design, Implementation and continuous advice to institutions wanting to offer Approved Retirement Schemes (Individual Pension Plans) to the general public

10. Crafting of Investment Policy for Pension Plans

Training

i. Course on PENSION PLANS (See outline of full course enclosed herein)

This Course is suitable for:

  • Trustees
  • Pension Plan Members
  • Union Delegates
  • Financial Managers
  • IR and HR Managers
  • Pension Plan Investment Managers
  • Pension Plan Administrators
  • Small Businesses
  • Members of the general public
  • Life Insurance Companies Sales Personnel who may want to market Pension Plans

ii. Training in Group Life, Group Health, Group Personal Accident and Group Savings/Investment Products.

iii. Seminars on Financial/Retirement Planning (Personal Financial Planning)

iv.Training of Life Insurance Sales/Marketing Personnel in Personal Financial Planning covering areas such as:

  • Planning
  • Budgeting
  • The economy and prospects for its various sectors
  • Analysis of Life Insurance Products
  • Life Insurance Policy as a Risk Management Instrument
  • Available Investment/Risk Management Instruments
  • Characteristics of each Instrument
  • Selecting an appropriate Investment Portfolio

v. Other areas in which we consider ourselves competent. Please ask us.

Personal Financial Planning

Personal Financial Planning is becoming increasingly important for companies and their employees. It is evident that the prudent use of money can make the difference between prosperity and poverty.

Employees who understand and do use their money prudently become financially secure, put much less pressure on the employer, are more contented, pay more attention to their jobs and are more productive.

Financial pressures can cause anyone to become distracted and less productive. It is therefore, in the best interest of employers to see that their employees are fully exposed to a formal process of personal financial planning.

ACTMAN shall be conducting one-day seminars on this subject matter on a regular basis. Details of this will be supplied to our clients/potential clients on a timely basis.

We are also quite prepared to do these seminars exclusively for large companies (on site or elsewhere). ACTMAN has also written and published a book entitled “A Handbook of Personal Financial Planning”.

We believe that this book offers the perfect complement to the course.

We have provided a broad outline of the contents of the course material

Broad outline of Course for One-Day Seminar

(1) The Planning Exercise

(2) The Budgeting Exercise

(3) Risk

(4) Economic Model

(5) Prospect for Sectors

(6) Important Characteristics of Financial Institutions

(7) Important Characteristics of Saving/Investment Instruments

(8) List of available Savings/Investment Instruments

(9) Savings/Investment Instruments Analysis based on O (7)

(10) Open Session, Wrap-up

Pension Plans

ACTMAN International in conjunction with an accredited tertiary educational institution, propose to deliver a ten (10) module Course on Pension Plans starting in January 2008.

The Course is suitable for:

  • Pension Plan Trustees
  • Pension Plan Members
  • Union Delegates
  • Union Officers
  • Human Resource Personnel
  • Pension Plan Auditors/Accountants
  • Directors of Companies
  • Senior Managers of Companies
  • Pension Plan Sales & Marketing Personnel
  • Legal Personnel with an interest in Pensions
  • Finance Personnel
  • Pension Administrators
  • Pension Fund Investment Personnel
  • Others with an interest in Pensions

The course will consist of case studies, quizzes, problem papers and tests. At the end thereof an official certificate will be issued to each participant who have covered all the modules. The modules will be largely self-contained and so persons may attend one, some or all. The cost structure will depend on the number of modules attended. We expect to finish the course in ten (10) months by doing one module one day per month. The intention is to run two groups concurrently (e.g. Group One on the first Friday and Group Two on the third Friday) every month.

Pension is becoming increasingly important in Jamaica and ACTMAN is committed to provide training and specially written material for all the stakeholders. We have already started writing a book entitled Pension Plans, which will cover the course material and more. Participants will be entitled to a steep discount on this book when published.

The cost for the whole Course shall be about $120,000 while the cost per module will be $15,000. Clearly these costs are subject to change over time but not during the duration of the Course. The costs are determined on a calendar year basis.