The Group has met over 40 times since the autumn of 2009 and addressed many issues of implementing Enterprise Risk Management under a Solvency 2 environment. The members felt the end of 2012, when Solvency 2 should originally have come into force is a good time to signal a change in focus away from regulatory implementation towards best practice discussions in ERM within the insurance sector, hence the change in name. The group has over 500 members and meets monthly.
Future Meetings
Date |
4 July 2013 |
| Time |
9.30am - 12.00 noon |
| Location |
IRM Office, 6th floor, 6 Lloyd's Ave, London, EC3N 3AX |
| Topic |
What does the second line of defence look like post Solvency 2? |
| Speakers |
Kevin Borrett, Head of Risk, UNUM
Susan Young, Head of Risk Management, R&Q Managing Agency Ltd.
Phil Whittingham, SIG Chairman and European CRO, XL Group
|
Date |
3 September 2013 |
| Time |
9.30am - 12.00 noon |
| Location |
IRM Office, 6th floor, 6 Lloyd's Ave, London, EC3N 3AX |
| Topic |
Using stress and reverse stress testing to challenge business plans and business models |
| Speakers |
Gillian Matthews, Pillar II Workstream project manager, Chartis
Pierre-Andre Camps, Chief Risk Officer, Tokio Marine Europe
Dipesh Shah, Risk Manager, QBE Europe
|
Date |
22 October 2013 |
| Time |
9.30am - 12.00 noon |
| Location |
IRM Office, 6th floor, 6 Lloyd's Ave, London, EC3N 3AX |
| Topic |
Risk Management - compliance or added value? How to make a difference. |
| Speakers |
Rob Vetch, Finance Director, W.R.Berkley Syndicate
David Rorrison, Head of Risk, SimplyHealth
James Carter, Risk Manager, Towergate
|
Group contact details
Chairman: Philip Whittingham on philip.whittingham@xlgroup.com
Secretary: Alex Hindson on Alex.Hindson@amlin.co.uk.
Group aims and objectives
To inform the risk management community, with particular reference to members in the insurance industry, of developments in Solvency II which have an impact on the risk management community in terms of the potential impact on risk management frameworks and also on the function, role and responsibilities of the risk management function.
It shall do this through:
1. Building best practice - to develop and/or share best/good practices on design, implementation and embedding of risk management framework / process/ techniques associated with Solvency II.
2. Encouraging networking - to ensure risk management professionals in insurance industry have a strong network of peers to interact and engage with
3. Seeking dialogue - building bridges with other professions/ professional bodies with an interest in Solvency II (eg actuaries, audit, accountancy) to ensure that risk management perspectives are broadly integrated into wider perspectives on Pillar II of Solvency II
In addition the SIG shall provide a voice for the risk management community to respond to the Solvency II process through responding to the consultations issued by CEIOPs (or others such as the ABI) on behalf of the IRM to ensure that the views of risk management professionals are taken into account in the consultation process.
Activities
Meetings three times per year - at each meeting there will be:
- a presentation on a topic of relevance
- discussion of current outstanding consultation papers and the IRM's response to these
- Articles for the Institute's magazine
Presentations at the Risk Forum
Drafting and circulating responses to the consultation papers
Group documents
FSA Consultation
The IRM Solvency II SIG response to the FSA Consultation Paper on the Role of the Risk Function under
Solvency II, April 2011, can be downloaded here. (PDF 112 Kb)
Recent Meetings
Date |
29 May 2013 |
| Time |
9.30am - 12.00 noon |
| Location |
IRM Office, 6th floor, 6 Lloyd's Ave, London, EC3N 3AX |
| Topic |
Linking ORSA and business planning - embedding risk management in decision making
ORSA - survey summary (PDF 76 Kb)
ORSA - full survey (PDF 378 Kb)
Resourcing - survey summary (PDF 92 Kb)
Resourcing - full survey (PDF 468 Kb)
|
| Speakers |
Andrew Hitchcox, Chief Risk Officer, Kiln Group (PDF 160 Kb)
Jacqyui Fenech, Director, Protiviti (PDF 2 Mb)
John Joyce, Operational Risk Director, Allianz UK (PDF 402 Kb)
|
Date |
26 February 2013 |
| Location |
IRM Office, 6th floor, 6 Lloyd's Ave, London, EC3N 3AX |
| Topic |
Risk MI - how to create useful information, not just data
Survey summary (PDF 39 Kb)
Full survey findings (PDF 348 Kb)
Validation in practice survey:
Survey summary (PDF 61 Kb)
Full survey findings (479 Kb)
|
| Speakers |
Alastair Goddin, Head of Risk, Hiscox (PDF 126 Kb)
Martin Massey, Chief Insurance Risk Officer, Chartis Europe (PDF 168 Kb)
Colin Tester, Senior Operational Risk Manager, AXA Commercial Lines (PDF 211 Kb)
|
Date |
15 January 2013 |
| Location |
IRM Office, 6th floor, 6 Lloyd's Ave, London, EC3N 3AX |
| Topic |
Risk Culture - IRM white paper outlined
Survey summary (PDF 91 Kb)
Full survey findings (PDF 492 Kb)
|
| Speakers |
Alex Hindson, IRM Director, Head of Group Risk, Amlin plc (PDF 962 Kb)
Jose Morago, IRM Director, Group Risk Strategy & Analysis Director, Aviva (PDF 606 Kb)
Keith Smith, Director, Risk Covered
(PDF 570 Kb)
|
Date |
6 December 2012 |
| Time |
9.30am - 12.00 noon |
| Location |
IRM Office, 6th floor, 6 Lloyd's Ave, London, EC3N 3AX |
| Topic |
The practical implementation of a risk appetite framework in business |
| Speakers |
Rafael Borrel, Director, Avantage (PDF 651 Kb)
Tim Chadwick, CRO, Willis UK (PDF 675 Kb)
Jason Baker, Risk Business Partner, Old Mutual (PDF 522 Kb)
|
Date |
8 November 2012 |
| Location |
IRM Office, 6th floor, 6 Lloyd's Ave, London, EC3N 3AX |
| Topic |
Making internal model governance work in practice
Full survey (PDF 342 Kb)
Survey summary (PDF 41 Kb)
|
| Speakers |
Andrew Pryde, Chief Risk Officer, Beazley plc (PDF 102 Kb)
Stavros Martis, Chief Actuary, Renaissance Re Syndicate Ltd (PDF 210 Kb)
Tom Durkin, Partner, Lane Clark & Peacock LLP
(PDF 1.8 Mb)
|
Date |
11 October 2012 |
| Location |
IRM Office, 6th floor, 6 Lloyd's Ave, London, EC3N 3AX |
| Topic |
Best practice in learning from operational risk events |
| Survey |
Learning from Operational Risk Events
Full survey (PDF 357 Kb)
Survey summary (PDF 43 Kb) |
| Speakers |
Tony Chidwick, Operational Risk, Governance & Control Director, Barclaycard (PDF 160 Kb)
Simon Allen, Senior Risk Manager, Beazley (PDF 465 Kb)
Caroline Coombe, Head of ORIC (PDF 4.2 Mb)
Julie Harrison, Enterprise Risk Manager, Ecclesiastical (PDF 125 Kb)
|
Date |
13 September 2012
|
| Location |
IRM Office, 6th floor, 6 Lloyd's Ave, London, EC3N 3AX |
| Surveys |
Getting strategic - strengthening the link between business strategy and ERM
Full survey findings (PDF 435 Kb)
Survey summary (PDF 61 Kb)
Risk universe and the application of risk registers
Full survey findings (PDF 340 Kb)
Survey summary (PDF 41 Kb)
Link between operational risk capital and corporate insurance programmes
Full survey findings (PDF 391 Kb)
Survey summary (PDF 48 Kb)
Survey on the future direction of the Solvency II Special Interest Group
Full survey findings (PDF 472 Kb)
Survey summary (PDF 42 Kb)
|
| Speakers |
Gina Butterworth, Risk Officer & Director, Chaucer (PDF 253 Kb)
Flavia Jones, Enterprise Risk Manager, Ecclesiastical (PDF 136 Kb)
Stephen Higgins, Senior Manager, Ernst & Young
(PDF 2 Mb)
|
Date |
16 May 2012 |
| Location |
IRM Office, 6th floor, 6 Lloyd's Ave, London, EC3N 3AX |
| Topic |
The role of risk management training in sustaining a risk culture
Survey findings (PDF 275 Kb)
Survey summary (PDF 52 Kb)
|
| Speakers |
Georgia Tsiakki, Group Risk Adviser, Amlin plc and Rob Doughty, Director, MDA Training (PDF 475 Kb)
Joachim Adenusi, Director, Inspirational Risk (PDF 1,006 Kb)
|
Date |
15 December 2011 |
| Location |
IRM Office, 6th floor, 6 Lloyd's Ave, London, EC3N 3AX |
| Topic |
Making emerging risk processes relevant
Survey findings |
| Speakers |
Tim Edwards, Director, PwC
Neil Smith. Manager, Emerging Risks & Research Exposure Management, Performance Management, Lloyd's
Miroslav Petkov, Director, Standard + Poors
|
Date |
5 May 2011 |
| Location |
IRM Office, 6th floor, 6 Lloyd's Ave, London, EC3N 3AX |
| Topic |
Operational risk modelling - making it meaningful |
| Speaker presentations |
Paul Ashton - Director, ORIC (PDF 422 Kb)
Jean-Marc Queau, Partner, Elseware (PDF 1,641Kb)
Ben Clothier, Director, D-Risk (PDF 490 Kb)
|
Downloads
|
Survey - Using Operational Risk Models
Survey results summary |
Date |
23 March 2011 |
| Location |
IRM Professional Development Forum
Liverpool |
| Speaker presentations |
Gemma Clatworthy - Nationwide (PDF 249 Kb)
Martin Davies - Nationwide
Marian Williams - PwC
|
Date |
2 March 2011 |
| Location |
London, UK |
| Topic |
I would like to invite you to join us in a workshop on the 2nd of March 2011 on Solvency II - Data and Systems which will be jointly organised by the IRM, the solvency II experts group and IBM. I would greatly appreciate your support in extending this invitation to others within your organisation - perhaps you could forward this invitation to your CIO and COO as this event will be of value to them in providing a view of what others are doing or have achieved in this critical area.
During this workshop, John Smith, Business Solution Partner (Insurance) and Steve Mills, Senior managing consultant of IBM and Paul Johnson, Director of IT programmes - Solvency II at Aviva will share their views on what a good Data and Systems framework looks like under Solvency II, the challenges of delivering against an evolving directive and the potential technology dividend available to firms.
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Click here to visit the members' area and access the minutes and presentations from meetings prior to 2011.
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