Implementing the guidelines will impact every area of your business: governance and communications, balance sheet and portfolio management, risk management, IT systems and data.

Some of the stakeholders whose needs must be addressed in your Solvency II programme include:

• The Chief Actuary, who will require a centralised and consistent modelling approach for all actuarial users for realistic ‘what-if’ and scenario planning.
• The Chief Risk Officer, who will be looking for enterprise-wide consistent risk management standards and a transparent risk modelling approach.
• The Chief Information Officer, who will want to ensure robust IT governance providing a consistent approach to data controls and architecture.
• The Chief Financial Officer, who will need faster reporting offering a consistent approach to financial and management information.
• The Chief Executive Officer, who will look for risk-based decision making and efficient allocation of capital to deliver  enhanced business performance.

At Magellan we play a key role in helping our clients implement the Pillar 2 and Pillar 3 requirements of Solvency II as part of the Gain-Line consortium. This includes a framework that guides you through the planning process, programme management capability and also access to the right resources you will need to deliver a successful Solvency II programme.

For more information please email kesh.sharma@magellancs.com or call 020 7790 0242.