Data implications of Solvency II

Date:
Thursday 29 March 2012

Synopsis:

For this afternoon event we had three speakers:

First up was Dean Buckner of the FSA, working in the insurance sector on Solvency II capital models, looking at data quality and data governance, who took for the title of his presentation Data and Solvency II - Taking Stock. The FSA data review began in September 2011 and will be continuing throughout 2012 as Solvency II progresses. The talk covered the objectives, broad scope and timeline of the review, addressing common themes that have emerged, with a consideration of some of the different ways that firms have addressed the challenges of implementing data governance. Dean's presentation is available to download below and a recording can be listened to here.

Dean was followed by Ken O’Connor, an independent data consultant who specialises in helping organisations meet data quality management challenges, who talked about Data implications of Solvency II. While Solvency II is the driver - the data implications are similar to those faced on all data intensive projects such as data migrations, data conversions, and population of systems for Single Customer View, CRM, Anti Money Laundering etc. Ken's presentation, which involved some audience participation, explored the data implications of Solvency II and how they are essentially the same data issues that arise in all organisations and all industries worldwide. Ken's presentation is available to download below and a recording can be listened to here.

After a break for tea Nicola Askham, an independent data management consultant who specialises in data governance, looked at Embedding Your Solvency II Data Governance Framework. Even with the force of regulatory compliance behind you, Data Governance initiatives can be difficult to implement. Nicola covered the soft skills and approaches that help embed a data governance framework in order to meet the Solvency II data requirements. Nicola's presentation is available to download below and a recording can be listened to here.

This was followed by a panel debate with Dean, Ken and Nicola (listen to a recording here) and a networking session.

PDF Icon FSA data review stock take - Dean Buckner

PDF Icon Data Implications of Solvency II - Ken O'Connor

PDF Icon Embedding Your Solvency II Data Governance Framework - Nicola Askham