From business process to stress-test

Transcription

1 From business process to stress-test EIOPA Data Governance Concept 8th IFC Conference,Basel, 8-9 September 2016 The views expressed in this presentation are those of the author and do not necessarily reflect those of the EIOPA.

2 About EIOPA: EIOPA is part of a European System of Financial Supervisors that comprises three European Supervisory Authorities, one for the banking sector, one for the securities sector and one for the insurance and occupational pensions sector, as well as the ESRB. EIOPA's core responsibilities are to support the stability of the financial system, transparency of markets and financial products as well as the protection of policyholders, pension scheme members and beneficiaries. EIOPA is commissioned to monitor and identify trends, potential risks and vulnerabilities stemming from the microprudential level, across borders and across sectors. 2

3 Business Strategy Implementation Roadmap Implementing Business Strategy (As-Is) Reviewing Business Strategy (As-Is) Business Strategy (Rev.1) Business Strategy (Rev.1) Implementing Business Strategy (Rev.1) Reviewing Business Strategy (Rev.1) changes required in the Business Processes (As-Is) to implement Business Strategy (Rev. 1) Change Portfolio (Rev. 1) and its Implementation Plan Project Management OperationalStrategy (Rev. 1) Data Strategy (Rev. 1) Operational Structure implementing (Rev.1) Business Processes Data Architecture implementing (Rev.1) Business Processes changes required in Organisational Structure (As-Is) to implement Business Processes (Rev. 1) changes required in Data Architecture (As-Is) to implement Business Processes (Rev. 1) Operational Structure (Rev. 1) Implementation Plan Data Architecture Implementation Plan Implementation Programmes and Projects IT Strategy (Rev. 1) IT Architecture implementing (Rev.1) Business Processes changes required in IT Architecture (As-Is) to implement Business Processes (Rev. 1) IT Architecture (Rev. 1) Implementation Plan (HR, Finance, Procurement, Legal, Data, IT) services processes & procedures (COBIT, ITIL, CMMI) Time DD.MM DD.MM DD.MM DD.MM DD.MM 3

4 EIOPA Architecture Processes are split into 3 different categories: Management Processes; Support Processes; Core-Business Processes 4

5 EIOPA Core Business Process Map 5

6 6

7 Strategic objective Implementing secure, trustful (high quality) and efficient data governance framework adaptable to permanently changing environment was recognised as the strategic objective, enabling delivery upon its mandate defined in the founding regulation. 7

8 Milestones Definition phase 1 January 2011 EIOPA founded October 2011 EIOPA BoS approves HL Business Processes Map and Data & IT Strategy based on the BPM November 2012 Design phase of the concept finalised September 2013 Central Repository Architecture and its first components released March 2014 Finalisation of the Data Justification project: EIOPA BoS approves the full scope of the SII individual data to be forwarded by NCAs to EIOPA September 2014 Guidelines mandating use of LEI in reporting to EIOPA adopted by the EIOPA BoS 8

9 TESTA NETWORK EIOPA HUB & WEB PORTAL EIOPA HUB ONLY 1. Validation 2. Validation 3. Validation Logical Architecture XBRL Taxonomy DPM NCAs Solvency II Quantitative Reports RDMM XBRL Validation Engine ETL Prestaging DPM db ETL ETL Staging Qualitative Reports Reporting Data Financial Stability QFT Data for the Registers Registers: Insurance Undertakings, Pension Funds, Groups, Conglomerates, Pension products, IROPs Prudential Provisions Register Data ETL Central Repository EIOPA Central Repository ECB MARKET CSDB ETL Market data providers Market Data Feedback to NCAs BI and Datamarts Datamarts 9

10 Milestones Implementation phase Year Solvency II Preparatory Phase; o o June 2015: Annual reporting by undertakings under the Solvency II Preparatory Phase with reference to 31/12/2014 November 2015: Quarterly reporting by undertakings under Solvency II Preparatory Phase with reference to 30/09/ January 2016 Application of the Solvency II regime; o 13 June 2016 First prudential reporting by undertakings under Solvency II with reference to the first day of application 23 June 2016 BREXIT vote 27 June 2016 Risk Update post UK referendum shared with EIOPA members, providing with: i. Market reactions, ii. Horizontal assessment of GBP exposures, iii. Insurance stress test, iv. Implications RFR 10

11 Questions? Please, contact me at: Tel: Mobile: Thank you! Katarzyna Wojtkiewicz