Last year the Bank of England’s Prudential Regulation Authority (PRA) issued a statement on the guidelines of Solvency II to ensure that during 2014 and 2015 insurance firms demonstrate their progress ahead of it going live from 1 January 2016.
This has highlighted that many companies require additional support with these regulatory changes. Currently we're seeing a number of clients with the following resourcing needs:
- Programme and project management
- Finance: ACA / CIMA qualified staff; reporting (including QRT, SFCR, and RSR)
- Internal audit/assurance
- IT: XBRL reporting, data management, systems analysis
- Enterprise risk management
In these circumstances using the services of an interim manager can prove to be the most beneficial and efficient course of action. Often additional resource is necessary at short notice and for only a limited amount of time. An interim can provide specific expertise that isn’t required in-house long term. In relation to Solvency II interims can be used to manage the entire programme or provide specialist support within Finance and IT, for example around testing and reporting.
If you require support with Solvency II Momenta are here to help. Our network of 6,000 interim managers is one of the largest in the UK. It means that you can rely on Momenta to source the right person for the job no matter what skill level or industry. As well as catering to the UK many of our interims have also worked across continents and markets.
We are proud to hold our ISO 9001 Quality Management System accreditation which is your audited guarantee of consistent high quality and service, and which verifies that our solutions bring tangible business benefits to our clients. In addition, clients enjoy minimal on-cost and transparent accounting, with all administration handled within the robust systems management at Momenta.
To find out more information about how Momenta can help you and the interims we have available click here.