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.
Course in Regulatory Auditing in Insurance Companies — studying from the United Kingdom
Insurance and risk analysis are important sectors in the United Kingdom, with London's market, the City of London and Edinburgh's financial services hub employing large numbers of actuaries, risk analysts and data specialists. Engineering knowledge is increasingly valuable in assessing risk for vehicles, infrastructure, energy and emerging technologies. Insurers and reinsurers use modelling, catastrophe analysis and telematics data. Regulation by the Prudential Regulation Authority and the Financial Conduct Authority shapes professional practice in this area.
Fees for the United Kingdom: £619 (Pound sterling), with instalments and employer sponsorship available.
Relevant bodies in the United Kingdom
Typical roles
Questions from the United Kingdom
Which UK bodies relate to actuarial and risk qualifications, and does SEIUM's training count towards their exams?
In the UK, actuarial professional status is governed by the Institute and Faculty of Actuaries, which runs its own examinations and accreditation. SEIUM's training is not accredited by the IFoA or any national body, and it does not confer exemptions from those exams unless the IFoA itself decides so. Confirm exemption policies directly with the IFoA before enrolling.
Do UK insurers and risk firms hire people with private online engineering or data qualifications?
UK insurers and risk consultancies recruit on the basis of skills, experience and recognised credentials. A private qualification may support an application where it demonstrates applied data or risk modelling, but employers decide its value case by case. Practical project work often carries more weight, so present your final project clearly on your CV and in interviews.
How much study time is needed, and can I pay for it in instalments while working in the UK?
Programmes range from 300 hours for specialist courses to 1,900 hours for master's programmes, all delivered online in English. You are assigned a technical tutor for support. Fees are payable in instalments, and employer sponsorship is possible. Plan weekly study hours realistically, as the total hours are substantial for a part-time learner.
Take the controls.
Run a real engineering trade-off from this field. Move the sliders, watch the model react in real time and beat the challenge.
What you will be able to do
Describe the role of the internal audit function within the Solvency II governance system.
Prepare a risk-based audit plan for an insurance undertaking.
Audit compliance in capital, governance, distribution, anti-money laundering and digital resilience.
Apply sampling and data analysis techniques to obtain sufficient evidence.
Write audit reports with findings, recommendations and clear ratings.
Monitor the implementation of recommendations and report to the board and the audit committee.
Carry out a complete regulatory audit on a practical case.
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.
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)
6 modules · 300 h
1.1Purpose and scope of regulatory auditing1.2Difference from financial auditing1.3The three lines of defence framework1.4International internal audit standards1.5Auditor independence and objectivity1.6Relationship with compliance and risk1.7Sector vocabulary and acronyms1.8Supervisory expectations1.9Common errors in the area1.10Exercise: auditable universe of an undertaking
2.1Building the auditable universe2.2Risk assessment of each area2.3Annual plan and its approval2.4Allocation of resources and competences2.5Work programme for each audit2.6Criteria and applicable regulatory framework2.7Sampling and its justification2.8Coordination with external audit2.9Communication with the audited area2.10Practice: annual audit plan
3.1Governance and key functions3.2Solvency and prudential reporting3.3Market conduct and distribution3.4Product governance3.5Data protection3.6Money laundering prevention and sanctions3.7Outsourcing and suppliers3.8Operational resilience and technology3.9Sustainability and non-financial reporting3.10Practice: work programme for one area
4.1Interviews and process walkthroughs4.2Design and operating effectiveness tests of controls4.3Data analysis and bulk testing4.4Review of files and records4.5Documentation of working papers4.6Classification of findings by risk4.7Defensible wording of findings4.8Discussion with the audited area4.9Audit report4.10Practice: operating effectiveness testing of a control
5.1Action plan and owners5.2Verification of findings closure5.3Escalation of overdue actions5.4Reporting to the audit committee5.5Overall opinion on internal control5.6Relationship with the supervisor and its requests5.7Quality assessment of the audit function5.8Function indicators5.9Training and competences of the team5.10Practice: report to the audit committee
6.1Choice of undertaking and scope6.2Auditable universe and risk assessment6.3Plan and work programme6.4Designed tests and expected evidence6.5Simulated findings and their classification6.6Complete audit report6.7Follow-up plan6.8Function indicators6.9Methodology memorandum6.10Defence of the work
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.
Build it end to end
Your final project follows the real engineering workflow, step by step, reviewed by your tutor.
Describe the role of the internal audit function within the Solvency II governance system.
Prepare a risk-based audit plan for an insurance undertaking.
Audit compliance in capital, governance, distribution, anti-money laundering and digital resilience.
Apply sampling and data analysis techniques to obtain sufficient evidence.
Write audit reports with findings, recommendations and clear ratings.
Where this takes you
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.
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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