FRSGlobal

Solvency II Wire, 8th January 2012: ORSA challenges for the year ahead

One of the overarching challenges firms face is embedding the ORSA into the daily business decision making of the firm. It is one of the requirements of the directive that will prove particularly challenging, as these decisions are made by staff in different roles across the organisation.

“This means that there are, in effect, two challenges in one,” Mike MacDonagh, Enterprise Risk Management Content Strategist, Wolters Kluwer Financial Services, said. “The first is changing existing practices and mindsets to include an appraisal of the risk and solvency implications of decisions; the second is to make risk and solvency information available to those decision makers in a flexible and consistent way.”

Read the full article here courtesy of Solvency II Wire »