We report neutron and X-ray absorption spectroscopy as well as resonant inelastic X-ray scattering of magnetic excitations in the new heavy-fermion van-der-Waals superconductor CeSiI. We determined effective Hamiltonians and ground states of crystal electric fields and magnons. Isotropic Heisenberg interactions on a quasi two dimensional lattice, including ferromagnetic nearest-neighbor exchange as the dominant interaction, provide an excellent account to the low-energy measured dynamics and stabilize a co-rotating spin cycloid. Our study provides the basis to model CeSiI from first principles, thereby laying the ground for microscopic understanding of heavy-fermion physics, their unconventional superconductivity, and quantum criticality.