| Location | Duration | Kenyan Cost | Non-Kenyan Cost | Upcoming Schedules |
|---|---|---|---|---|
| Nairobi, Kenya | 5 Days | KES 115,000 | USD 1,500 | Enroll |
| Kigali, Rwanda | 5 Days | USD 1,900 | USD 1,900 | Enroll |
| Kampala, Uganda | 5 Days | USD 1,900 | USD 1,900 | Enroll |
| Dar es Salaam, Tanzania | 5 Days | USD 2,000 | USD 2,000 | Enroll |
| Dubai, UAE | 5 Days | USD 3,900 | USD 3,900 | Enroll |
| Abuja, Nigeria | 5 Days | USD 4,000 | USD 4,000 | Enroll |
| Accra, Ghana | 5 Days | USD 4,000 | USD 4,000 | Enroll |
| Pretoria, South Africa | 5 Days | USD 3,900 | USD 3,900 | Enroll |
| Start & End Date | Duration | Kenyan Cost | Non-Kenyan Cost | Enroll | |
|---|---|---|---|---|---|
| Oct 19–Oct 27, 2026 | 7 Days | KES 90,000 | USD 1,000 | Register | |
| Nov 02–Nov 10, 2026 | 7 Days | KES 90,000 | USD 1,000 | Register | |
| Nov 16–Nov 24, 2026 | 7 Days | KES 90,000 | USD 1,000 | Register | |
| Nov 30–Dec 08, 2026 | 7 Days | KES 90,000 | USD 1,000 | Register | |
| Dec 14–Dec 22, 2026 | 7 Days | KES 90,000 | USD 1,000 | Register | |
| Dec 28, 2026–Jan 05, 2027 | 7 Days | KES 90,000 | USD 1,000 | Register | |
| Jan 11–Jan 19, 2027 | 7 Days | KES 90,000 | USD 1,000 | Register | |
| Jan 25–Feb 02, 2027 | 7 Days | KES 90,000 | USD 1,000 | Register | |
| Feb 08–Feb 16, 2027 | 7 Days | KES 90,000 | USD 1,000 | Register | |
| Feb 22–Mar 02, 2027 | 7 Days | KES 90,000 | USD 1,000 | Register | |
| Mar 08–Mar 16, 2027 | 7 Days | KES 90,000 | USD 1,000 | Register | |
| Mar 22–Mar 30, 2027 | 7 Days | KES 90,000 | USD 1,000 | Register | |
| Apr 05–Apr 13, 2027 | 7 Days | KES 90,000 | USD 1,000 | Register | |
| Apr 19–Apr 27, 2027 | 7 Days | KES 90,000 | USD 1,000 | Register | |
| May 03–May 11, 2027 | 7 Days | KES 90,000 | USD 1,000 | Register | |
| May 17–May 25, 2027 | 7 Days | KES 90,000 | USD 1,000 | Register | |
| May 31–Jun 08, 2027 | 7 Days | KES 90,000 | USD 1,000 | Register | |
| Jun 14–Jun 22, 2027 | 7 Days | KES 90,000 | USD 1,000 | Register | |
| Jun 28–Jul 06, 2027 | 7 Days | KES 90,000 | USD 1,000 | Register | |
| Jul 12–Jul 20, 2027 | 7 Days | KES 90,000 | USD 1,000 | Register | |
| Jul 26–Aug 03, 2027 | 7 Days | KES 90,000 | USD 1,000 | Register | |
| Aug 09–Aug 17, 2027 | 7 Days | KES 90,000 | USD 1,000 | Register | |
| Aug 23–Aug 31, 2027 | 7 Days | KES 90,000 | USD 1,000 | Register | |
| Sep 06–Sep 14, 2027 | 7 Days | KES 90,000 | USD 1,000 | Register | |
About the Course
Pension funds invest assets today to meet benefit obligations that may extend many decades into the future. Asset-liability management provides a structured way to connect those two sides of the balance sheet. It helps trustees and investment professionals understand how interest rates, inflation, longevity, investment returns and liquidity affect the scheme’s ability to meet future payments and how investment strategy should respond to those risks.
This course introduces the principles and practical application of asset-liability management for pension schemes. Participants examine liability profiles, funding positions, duration, liquidity, scenario analysis, stress testing and liability-aware investment strategies. The focus is not on complex actuarial mathematics, but on giving decision-makers enough technical understanding to interpret ALM studies, challenge assumptions and incorporate liability information into investment and funding decisions.
The course emphasizes the practical connection between actuarial liabilities and investment decision-making. Participants will explore how funding status, duration, inflation sensitivity, benefit cash flows and liquidity requirements can inform strategic asset allocation and risk limits, providing a more coherent basis for balancing return objectives with the scheme’s capacity to meet future obligations.
Target Participants
Pension trustees, investment committee members, pension fund managers, finance professionals, investment officers, risk professionals, actuaries, asset consultants and regulators involved in funding or investment oversight.
What You Will Learn
By the end of this course, participants will be able to:
- Analyse how pension assets relate to future benefit liabilities.
- Interpret key pension liability characteristics.
- Assess funding position and major funding risks.
- Analyse duration, inflation and longevity exposures.
- Incorporate liquidity requirements into investment strategy.
- Interpret asset-liability modelling outputs.
- Use scenario analysis and stress testing in decision-making.
- Evaluate liability-aware investment and funding strategies.
Course Duration
- Classroom – 5 Days
- Online – 7 Days
Course Outline
Pension Liabilities
- Benefit cash flows
- Liability timing
- Active versus retiree liabilities
- Sensitivity to assumptions
- Liability sensitivity to demographic and market assumptions
Liability Valuation
- Discount rates
- Inflation assumptions
- Mortality assumptions
- Salary-growth assumptions
- Liability sensitivity to demographic and market assumptions
Pension Funding Position
- Assets versus liabilities
- Funding ratio
- Deficit and surplus analysis
- Funding volatility
- Funding-level sensitivity and recovery implications
Interest Rate Risk
- Liability duration
- Interest-rate sensitivity
- Duration matching concepts
- Mismatch risk
- Duration matching and hedge-effectiveness considerations
Inflation Risk
- Inflation-linked benefits
- Real versus nominal returns
- Inflation-sensitive assets
- Inflation stress scenarios
- Inflation linkage and real-return protection strategies
Longevity Risk
- Mortality improvement
- Longevity assumptions
- Retiree exposure
- Risk mitigation concepts
- Longevity assumptions and risk-transfer options
Liquidity Planning
- Benefit cash-flow forecasts
- Liquidity buffers
- Illiquid assets
- Liquidity stress testing
- Liquidity governance, escalation thresholds and contingency actions
Asset-Liability Modelling
- Model objectives
- Scenario assumptions
- Probability-based outcomes
- Interpreting model outputs
- Scenario design, model governance and interpretation
Funding Strategies
- Contribution adjustments
- Recovery plans
- Investment changes
- Sponsor support considerations
- Contribution, investment and de-risking trade-offs
ALM Governance
- Decision responsibilities
- Model governance
- Assumption review
- Board reporting
- Governance effectiveness indicators and periodic review
Practical Outputs
Participants will develop or work with the following tangible outputs during the programme:
- Pension liability profile
- Funding-gap analysis
- Asset-liability scenario model
- Liquidity ladder
- ALM stress-test analysis
- ALM governance dashboard
Training Approach
Participants use simplified liability profiles and asset portfolios to interpret funding risks, test scenarios and evaluate strategic responses. Exercises are designed for decision-makers rather than actuarial specialists.
Organizational Benefits
- Better visibility of the relationship between assets and pension liabilities
- Improved funding and liquidity decision-making
- Stronger management of interest-rate, inflation and longevity exposures
- More robust stress testing of funding outcomes
- Better alignment of investment strategy with benefit obligations
- Clearer governance of ALM assumptions, models and decisions
Certification
Participants who successfully complete this course will receive a Certificate of Course Completion from Devimpact Institute, recognizing the knowledge, practical skills and competencies developed through the programme.
Tailor-Made Course
This course can be customized and delivered as an in-house programme to address the specific policies, systems, sector context and capacity-development priorities of an organization. The course duration, modules, case studies and practical exercises may be adjusted following a training needs assessment.
