RISK SERVICES
We support insurance clients with all aspects of risk management and risk and capital reporting.
Overview of Risk Services
We help regulated insurance firms manage all aspects of their risk management frameworks, ensuring that they are operating in line with all relevant guidance from the relevant regulators.
What We Do
We support clients with the development and maintenance of risk frameworks including policies, appetites, key risk indicators and risk registers. We can assist you with annual planning, ORSA delivery, Stress and scenario testing, control effectiveness testing and risk analysis. ICSR has considerable practical experience in, and can assist with, various risk management matters such as:
- Developing Risk management Target Operating Models
- Risk management framework development and review (Solvency II compliant where necessary)
- Risk policies and processes development and review
- Risk appetite thresholds and tolerances
- Risk reporting frameworks
- Risk Culture, Conduct Risk and Cyber Risk assessments and implementation of recommendations
- Development and implementation of KRIs, Emerging Risks and Loss Events frameworks
- Programme/Project and M&A Risk Management
- Risk and control registers, development and review
- Annual risk management activity plan
- Control effectiveness testing/monitoring
- Stress and scenario development and testing
- ORSA frameworks (policy, process, report) preparation and review
- Solvency II System of Governance reviews
- Risk management outsourcing full/partial
- Reviews, audits and health checks on all aspects of a Risk function including resourcing, frameworks and all other activities such as reporting processes
- Selection and implementation of GRC applications
- Provision of Risk Management training to Control Owners, Risk Owners, C-Suite and NEDs
Key Contacts:
If you would like to know more about the way we could help your firm, please speak with one of our Risk specialists.
Latest Risk Case Studies
Supporting The Client With The Delivery Of A New Governance, Service And Operating Model As A Part Of A Corporate Restructure
Assisting Client With The Parameterisation Of Its Operational Risk Processes And The Redevelopment Of Its ORSA Process And Templates
Review client’s governance, control and risk frameworks to ensure that the operating model remained fit for purpose
Assist with changes to governance, capital model, risk, compliance, operations, claims functions and frameworks
Latest Risk Articles
PRA Business Plan: An Agenda For (International) Growth?
The PRA published its business plan earlier in April and as with the FCA, there is unsurprisingly quite a significant focus on how it will deliver its new growth objectives now these are formally in place. Kenneth Underhill and Claire King look at what’s in the 2024 plan.
Webinar Recording: The FCA Business Plan & Strategy 2024/5 – A Look At The Key Points
Watch the webinar recording from 17th April as Kenneth Underhill & Claire King explore the FCA 2024-5 Business Plan in detail, helping firms understand how they need to adapt their approach to regulatory compliance to align with the latest FCA expectations and areas of focus.
Webinar: The FCA Business Plan & Strategy 2024/5 – A Look At The Key Points
Join us for a webinar on 17th April as Kenneth Underhill explores the FCA 2024-5 Business Plan in detail, helping firms understand how they need to adapt their approach to regulatory compliance to align with the latest FCA expectations and areas of focus. Register now.