CRO Services

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We like risk because we can tell you where you are

Do we have all risks identified?

The identification of risks is, in this context, the listing of all individual risks run by the function in the entity. It is one level of detail lower than the risk categories. For example, a risk category would be market risk. An identified risk would be having a foreign exchange position, part of the market risk category, because the clients pay in one currency while the costs are in another currency.

In risk management, Khagan’s capacities range from the implementation of an enterprise risk framework to niche skills in risk modeling. The risk management capacities are applicable from large and complex companies like insurance groups to small, medium and large enterprises, even if they are active in uncommon industries like the entertainment business. Khagan has a specific methodology to implement a risk framework or assess it.

Governance, Risk and Compliance Services
  • Governance and oversight (at the board level)
  • Assessment of risk & control environment
  • Enterprise Risk Management : Design and Implementation of risk framework
  • Corporate Compliance & Regulatory
Operational Risk Services
  • Risk and control self-assessment (RCSA) governance
  • Policy and procedure management
  • Program assurance
  • Operational risk vigilance assessments
Financial Risk Services
  • Measure and manage interest rate risk and accurately model income and economic value
  • Simulate accruals, cash flows and defaults for all instruments
  • Define prepayment assumptions, as well as product and organizational-level structures to support reporting
Transactions and Insurance Capital Markets

Actuarial analysis of and advice

  • Insurance M&A transactions
  • Reinsurance transfers
  • Capital relief and restructuring (reinsurance and capital markets)
  • Post-merger integration 
  • Pension risk transfer transactions
Modelling Services for Companies
  • Management of insurable risks, selection and evaluation of insurance contracts
  • Evaluation, selection and design of health coverage contracts
  • Design of Pension Plans and valuation of their costs and commitments
  • Projection analysis of retirement benefits
  • Evaluation and development of financial risk management models. Quantification Models. Development of Coverage Strategies
  • Development of scoring and rating models for the credit risk management. Assets and Liabilities Management (ALM), treasury book models (Value at Risk)
  • Accounting for commitments of pension plans, health and other benefits, under international standards
  • Statistic analysis
Actuarial Modelling Services for Insurers and Health Organizations
  • Development and design of insurance and health products. Development of pricing models
  • Support to the management control. Follow-up to the profitability of insurance and reinsurance contracts
  • Analysis of accident rate and premium adequacy. Support for accounting under international standards. Projection and evaluation of businesses and products
  • Analysis of reserve adequacy for known losses. Estimate of IBNR losses
  • Actuarial advisory services in transactions of insurance companies and portfolios
  • Review and reserve attestation
Based on its experience, Khagan has its own tool to assess your risk management process. Like the tool for the financial assessment, we start by assessing the level of maturity of your company. We then compare this level of maturity to the processes you have to manage risk. Our report highlights your strengths and what could be improved. The analysis runs over two dimensions, the spread of topics covered by your risk management framework but also its depth as the embeddedness of the process is the key to its success.

We also take two different perspectives by considering the current level of maturity of your company, and its prospective one, to allow you to a smoothly transition to a “best-in-class” position in your near future.

We like risk because we know how to picture it

Khagan’s team includes actuaries and data scientists whose main point of focus is the modeling. They can put a number on risk and help you build the gauges required to warn you ahead of time of a materialization of a risk.

But that is usually not enough. Our business oriented staff is there not only to make the link between the numbers and the business concept but also to ensure that you have a complete mapping of your risks, inclusive the ones that cannot be measured.

We like risk because we master it

Khagan’s journey started in the insurance business. And who could better estimate the risk than an insurer. As the team expanded, we integrated banking and industrial experience in our risk management capabilities. Jean-Christophe Mathonet

Partner, Khagan