With our clients and partners, ISC continues to provide cost-effective consulting. Working within the time frames set by regulators and clients, ISC has delivered successful regulatory projects, ensuring our clients are able to comply with their regulatory responsibilities.
A longstanding client of ISC instituted a multi-year programme to improve and automate the provision of Pillar 3 asset data to their principle insurance client for Quantitative Reporting Template delivery to the regulator. This data forms one strand of the full data set included in their Solvency II reporting.
The existing solution was manual, resource heavy, prone to error and would not, in the medium term, satisfy the requirement to deliver data within a shortening time scale. The project looked to address these issues and requirements, through a multi phased approach which would look to incrementally reduce the BAU time to delivery. The delivery was complicated by concurrent firmwide changes to core front/back office requiring the controlled migration of solutions from old to new environments.
Our Role & Value
ISC’s role spanned the full length of the project, providing project management and expert analysis resource. The continual engagement ensured project knowledge remained within the project team, and with the concurrent adoption of Agile based work tools, experience and knowledge was shared beyond the project team.
At the completion of each incremental project phase, time to delivery was shortened and the building blocks for the next phase were put in place both on a developmental and infrastructure basis. The partnership between client & ISC allowed the project the certainty that consultants would always provide continuity in a programme with so many moving parts.
“I worked with consultants from ISC for 4+ years at Fidelity International. During this time, we found ISC consultants to be very professional and knowledgeable, particularly in the world of Investment Management. The consultants brought their experience to inject new ideas, innovation and pace in to the programmes of work. The deliverables were of excellent quality which set a precedent for others. They were proficient in both business and technical aspects, liaising with senior business stakeholders as well as technical developers. I would not hesitate to recommend ISC.”
FCA Findings on IFPR/ICARA Process
It was surprising to read the recent FCA paper on the interim observations around ICARA (Internal Capital Adequacy & Risk Assessment) under IFPR which came into force in Jan 2022. Whilst there must have been some investment firms who have taken the ICARA process seriously, the FCA’s paper feels as if it widely condemns many of the representative firms selected for review so farREAD MORE
DORA – 3rd Party Technology Outsource Providers
Further to our recent LinkedIn posts on the EU DORA regulation, we thought it would be useful to outline the plans for dealing with 3rd Party technology outsource providersREAD MORE
DORA – Risk Management Framework
Further to our recent posts on the EU DORA regulation, we thought it would be useful to outline the Risk Management Framework that firms should be considering:-READ MORE
DORA – Challenges for Asset Managers
DORA may not be uppermost in the thoughts of Asset Managers, but it is a regulation that cannot be ignored if you carry out business in the EU, or with parties falling intoREAD MORE
The Five Pillars of DORA for the Financial Services Industry
Further to ISC’s recent posts on the topic of DORA, and following the ESA briefing to financial services industry participants in early February 2023, here are the five pillars upon which DORA is built and which underpin theREAD MORE
Importance of Incident Management for Investment Managers in the Context of the European DORA Regulation
In ISC’s last post on DORA regulation, which briefly described the Cybersecurity Requirements, we mentioned the need to respond to security incidents in a timely manner. Here are further details around thatREAD MORE
Cybersecurity Requirements for Investment Managers under the European DORA Regulation
Following ISC’s recent post on DORA regulation, here is a brief summary of the Cybersecurity Requirements for consideration by Investment Managers
The European DORA Regulation requires companies to implement appropriate measures to secure their networks and systems from cyber threats. This includes measures to prevent unauthorized access to sensitive dataREAD MORE
ISC Regulatory Change Forum 2023
Our forum is a great way to hear about the
common challenges we face.
If you would like to take part in the next Regulatory Change ForumREAD MORE
European DORA Regulation and its Implications for Investment Management Companies
At ISC’s recent Regulatory Change Forum (held 7th February 2023) the topic of the European DORA Regulation was raised, and in particular, what the impacts of DORA would be on the Investment Management Industry. Here isREAD MORE
Trade & Transaction Regulatory Reporting – The Technology Challenge
Such is the complexity of the various regulatory reporting regimes in respect of Trade and Transaction reporting, that it can be quite bewildering. MiFIR, EMIR, CFTC, ASIC, SFTR, and other regimes, with all the various local rules, and frequent changes/updates make for a moving target which is increasingly hard to hit. This makes for challenges not only for asset managers who need to report their trades, but also for softwareREAD MORE
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