Regulatory “catalyst” pushing data quality
Compliance is working as a catalyst towards data quality and enterprise-wide risk management at insurance firms, thinks Lloyd’s underwriter Canopius. Heightened compliance demands for better data quality and pressure to deliver enterprise-wide risk management (ERM) frameworks are driving industry change, thinks Bradley Cass, head of...
Spreadsheet Risk and Solvency II
For many years the big stick of Solvency II has been waved at insurance firms. After huge expenditure the reaction has often been “What has Solvency II done for us?” Guideline 48 of EIOPA’s final report on Systems of Governance states that, “Where relevant, the...
Spreadsheet management processes will come under the microscope
New research suggests that UK financial services leaders expect that their business-critical data will come under greater scrutiny from regulators over the coming year. Read the full article here
Solvency II Reappears on the Data Radar
The news that Solvency II is back on track surprised many in the insurance community who had considered a Solvency II ‘lite’ alternative as the most probable way forward. Notwithstanding further delays, the key date is now 1 January 2016. In relatively broad terms, at...
Tech City firm storms spreadsheets
British firm ClusterSeven has created technology to clean up the world’s spreadsheets and eliminate errors such as those that led to £3.8bn losses. Read the full article here
Solutions To Spreadsheet Risk Post JPM’s London Whale
The New Statesmen’s tech writer, Alex Hern, asks “Is Excel the most dangerous piece of software in the world?” His question was prompted by the JPMorgan Task Force Report into the Chief Investment Office’s $6 billion-plus loss. It found the bank’s Value at Risk (VaR)...