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Corporate Governance, Risk Management & Internal Control: Solvency II Framework

This informative document discusses the key components of the Solvency II framework, including quantitative requirements such as technical provisions and capital requirements, qualitative requirements like internal control and risk management, and reporting obligations. It delves into Pillars 1, 2, and 3, total balance sheet approach, market-consistent valuation, and convergence of supervisory practices. The text emphasizes the importance of firm responsibility, supervisory reporting, and pressure from rating agencies and capital markets.

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Corporate Governance, Risk Management & Internal Control: Solvency II Framework

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  1. Corporate Governance, Risk Management and Internal Control Carlos Montalvo Rebuelta Assal Guayaquil, 14-IV-2012

  2. Solvencia II

  3. 3

  4. Quantitative requirements • Technical provisions (BE and risk margin) • 2 capital requirements (MCR and SCR –SF/IM) • Prudent person investment rule • Own funds (3 tiers) Qualitative requirements • Internal control • risk management (incl. ORSA) • Supervisory review process (qualit. & quant - add-ons) Reporting • Supervisory reporting • Public disclosure • Market discipline Pillar 1 Pillar 2 Pillar 3 Total balance sheet approach Market-consistent valuation Approval of internal models Focus on firm’s responsibility Convergence of supervisory practices Convergence of supervisory reporting More pressure from rating agencies, capital markets Solvencia II Group requirements

  5. Quées el GobiernoCorporativo?

  6. Qué no es el GobiernoCorporativo?

  7. Quéesla Gestión de Riesgos?

  8. Quéno es la Gestión de Riesgos?

  9. Quées el ORSA?

  10. Qué no es el ORSA?

  11. Quéhace el supervisor?

  12. ? 18

  13. Gracias! Carlos Montalvo Executive Director EIOPA email: carlos.montalvo@eiopa.europa.eu

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