Solvency II drives demand for Risk Expertise
As a specialist Risk and Regulatory change recruiter FourthLine has seen an increase in demand for Solvency II Risk Management professionals from our insurance customer base. As insurers look to become Solvency II compliant our market research has indicated that companies are looking to hire Risk professionals to provide expertise in five core areas:
- Review of Documentation including ORSA, Risk Appetite, and IMAP.
- Providing quality Assurance around the Risk management elements that feed into the Internal Model.
- Provide Validation assurance activities around the Solvency II programme.
- Embedding of new SII compliant Risk Frameworks into the 1st Line of Defence.
- Solvency II Risk Co-ordination for IMAP inputs and submission.
Our Risk and Regulatory talent team are becoming increasingly concerned about the need to start planning resources for the forthcoming Solvency II implementation deadline in January 2016. The market is set for a repeat of the 2009-2011 conditions where genuine skills & expertise became sparse, supply and demand meant contractor rates increased dramatically and Big 4 consulting firms took full advantage. We are pro-actively advising customers to start resource planning now, hire professionals of high programme importance now, keep them retained through a financial lock in, and take full advantage of the high number of genuine SII experts who are currently available on the market.
FourthLine’s Solvency II Delivery Capability:
- Programme Director, Leadership
- Subject Matter Experts across Pillar 1, Pillar 2 and Pillar 3.
- Documentation, Technical Authorship
- Validation & Programme Assurance.