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 operational risk, 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
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
Latest Risk Articles
The FCA has issued two letters to firms involved in the manufacture and distribution of products, expressing its disappointment at the progress made on value assessments. Palak Bedi looks at the actions firms must take.
The FCA has published its ‘final’ rules on the way principal firms oversee the activities of Appointed Representatives. Kenneth Underhill looks at the impact on firms.
The new Consumer Duty rules set a high bar for firms in the way they manufacture, sell and service insurance products to retail consumers. Kenneth Underhill looks at what it means for insurance firms and why boards need to act now.