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Course in Regulatory Auditing in Insurance Companies

Online 300 h course in regulatory auditing in insurance companies. 6 modules covering Directive 2009/138/CE (Solvency II), Law 20/2015 (LOSSEAR) and TeamMate+. Assigned tutor and open enrolment.

Duration300 h
ModeHybrid
LanguageEnglish / Spanish
Start datesOctober / March
LocationEurope (Madrid)
AwardSEIUM Institute diploma
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Learning outcomes

What you will be able to do

01

Describe the role of the internal audit function within the Solvency II governance system.

02

Prepare a risk-based audit plan for an insurance undertaking.

03

Audit compliance in capital, governance, distribution, anti-money laundering and digital resilience.

04

Apply sampling and data analysis techniques to obtain sufficient evidence.

05

Write audit reports with findings, recommendations and clear ratings.

06

Monitor the implementation of recommendations and report to the board and the audit committee.

07

Carry out a complete regulatory audit on a practical case.

Profile

Who it's for

  • Internal auditor at insurance undertakings who wants to specialise in Regulatory Auditing in Insurance Companies.
  • Regulatory compliance officer who wants to specialise in Regulatory Auditing in Insurance Companies.
  • Insurance regulatory consultant who wants to specialise in Regulatory Auditing in Insurance Companies.
  • Auditor at a professional services firm who wants to specialise in Regulatory Auditing in Insurance Companies.
  • Risk and internal control analyst who wants to specialise in Regulatory Auditing in Insurance Companies.
  • Insurance supervision officer who wants to specialise in Regulatory Auditing in Insurance Companies.
  • Graduates in engineering or science seeking to join insurance and reinsurance companies.
Standards & tools

What you'll work with

  • Directive 2009/138/EC (Solvency II)
  • Law 20/2015 (LOSSEAR)
  • Royal Decree 1060/2015 (ROSSEAR)
  • Delegated Regulation (EU) 2015/35
  • Directive (EU) 2016/97 (IDD)
  • Regulation (EU) 2022/2554 (DORA)
  • Law 10/2010 on Prevention of Money Laundering
  • Global Internal Audit Standards (IIA)
Syllabus

6 modules · 300 h

  1. 1.1Purpose and scope of regulatory auditing
  2. 1.2Difference from financial auditing
  3. 1.3The three lines of defence framework
  4. 1.4International internal audit standards
  5. 1.5Auditor independence and objectivity
  6. 1.6Relationship with compliance and risk
  7. 1.7Sector vocabulary and acronyms
  8. 1.8Supervisory expectations
  9. 1.9Common errors in the area
  10. 1.10Exercise: auditable universe of an undertaking
  1. 2.1Building the auditable universe
  2. 2.2Risk assessment of each area
  3. 2.3Annual plan and its approval
  4. 2.4Allocation of resources and competences
  5. 2.5Work programme for each audit
  6. 2.6Criteria and applicable regulatory framework
  7. 2.7Sampling and its justification
  8. 2.8Coordination with external audit
  9. 2.9Communication with the audited area
  10. 2.10Practice: annual audit plan
  1. 3.1Governance and key functions
  2. 3.2Solvency and prudential reporting
  3. 3.3Market conduct and distribution
  4. 3.4Product governance
  5. 3.5Data protection
  6. 3.6Money laundering prevention and sanctions
  7. 3.7Outsourcing and suppliers
  8. 3.8Operational resilience and technology
  9. 3.9Sustainability and non-financial reporting
  10. 3.10Practice: work programme for one area
  1. 4.1Interviews and process walkthroughs
  2. 4.2Design and operating effectiveness tests of controls
  3. 4.3Data analysis and bulk testing
  4. 4.4Review of files and records
  5. 4.5Documentation of working papers
  6. 4.6Classification of findings by risk
  7. 4.7Defensible wording of findings
  8. 4.8Discussion with the audited area
  9. 4.9Audit report
  10. 4.10Practice: operating effectiveness testing of a control
  1. 5.1Action plan and owners
  2. 5.2Verification of findings closure
  3. 5.3Escalation of overdue actions
  4. 5.4Reporting to the audit committee
  5. 5.5Overall opinion on internal control
  6. 5.6Relationship with the supervisor and its requests
  7. 5.7Quality assessment of the audit function
  8. 5.8Function indicators
  9. 5.9Training and competences of the team
  10. 5.10Practice: report to the audit committee
  1. 6.1Choice of undertaking and scope
  2. 6.2Auditable universe and risk assessment
  3. 6.3Plan and work programme
  4. 6.4Designed tests and expected evidence
  5. 6.5Simulated findings and their classification
  6. 6.6Complete audit report
  7. 6.7Follow-up plan
  8. 6.8Function indicators
  9. 6.9Methodology memorandum
  10. 6.10Defence of the work
Methodology, software & labs

How you'll learn

100 % online training on the SEIUM campus, with downloadable material, recorded classes and an assigned technical tutor. No fixed timetables: students progress at their own pace within the intake, which makes it possible to combine study with work.

Each module combines theory, guided reading of the original standard and applied exercises. The working software is TeamMate+, IDEA (CaseWare), ACL Analytics, advanced Excel, Power BI, in free, academic or evaluation versions. Case studies are based on real procedures from documentary regulatory compliance audits, substantive testing of quantitative supervisory reports, and follow-up of audit recommendations. Assessment is continuous, module by module, plus the final integrative project.

Accredited laboratories(EN ISO/IEC 17025) with a rotor test rig, EMC/Lightning pre-compliance, HIL/SIL, vibration/acoustics.
Evidence-driven final project:safety case, test plan, compliance dossier and operational limits.
Industry mentoring:lecturers with a track record in training, , eVTOL/UAM and flight test.
Flexible format(hybrid/online), international cohorts and support from SEIUM Career Services.
Ethics and safety:a safety-by-design approach, with ciber-OT, DIH and compliance as its pillars.
Capstone project

Build it end to end

Your final project follows the real engineering workflow, step by step, reviewed by your tutor.

Choice of undertaking and scope

Describe the role of the internal audit function within the Solvency II governance system.

Auditable universe and risk assessment

Prepare a risk-based audit plan for an insurance undertaking.

Plan and work programme

Audit compliance in capital, governance, distribution, anti-money laundering and digital resilience.

Designed tests and expected evidence

Apply sampling and data analysis techniques to obtain sufficient evidence.

Simulated findings and their classification

Write audit reports with findings, recommendations and clear ratings.

Career opportunities

Where this takes you

Internal auditor at insurance undertakingsRegulatory compliance officerInsurance regulatory consultantAuditor at a professional services firmRisk and internal control analystInsurance supervision officer
Admissions & scholarships

Requirements

  • No prior qualification is required.
  • An internet connection and a computer capable of running the programme's software.
  • Sufficient Spanish to follow technical regulatory texts.

Ready to start?

Send your application today. Our admissions team replies within 72 hours with your study plan and funding options.

Apply now Scholarships
FAQ

Frequently asked questions

The programme comprises 300 hours in total, spread over 3 to 5 months. That means an average of 10 to 15 hours per week, compatible with a full-time job.

You will work with TeamMate+, IDEA (CaseWare), ACL Analytics, advanced Excel, Power BI. Free, academic or evaluation versions are used, and the tutor indicates the free alternative where one exists.

A SEIUM's own diploma upon passing the continuous assessment and the integrative project. It is in-house training, not an official qualification from the Ministry.

Yes. Modules passed in a Course or Postgraduate Diploma in the same area are credited towards the advanced programme. Check the recognition policy when you enrol.

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