Financial Services Commission

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1 Financial Services Commission Solvency II Technology Update Author John Pashley Date March 2015 Version 1.0 Status For Information 1

2 Workshop Objectives To provide an update of the FSC s technology review with respect to the collection of EU regulatory reporting data. To demonstrate two specific products that will enable Insurance companies to capture and submit Solvency II data: Installation Data Entry Validation Excel Support XBRL Support Help & Documentation EIOPA Tool for Undertakings (T4U) Invoke efiling Portal for Solvency II 2

3 Regulatory Data European Supervisory Authorities ESRB Gibraltar Regulated Firms ESAs Total FSC population circa 150 Firms SII scope circa 60 Firms COREP scope circa 15 Firms Other Firms Fund Managers Investment Firms Insurance Firms Banks SII 2016 ESMA EIOPA <XML> EBA Competent Authorities AIFMD 2015 CRD IV 2014 Collect FSC Utilise Transfer UK FCA PRA/BoE France Germany Euro States Spain etc ECB 3

4 SII Filing Process 6.2 Enter Excel Data 7.1 Create XBRL Regulated Firm 3 Reference Guidance 3 Reference Regulation Implementing Technical Standards EU Regulation 2 Publish Supporting Material 1 Publish Regulation 2 Publish Taxonomy 5 Enter Data XBRL Taxonomy Excel File 6.3 Upload Excel 6.1 Download Excel Template XBRL Document 7.2 Upload XBRL Mapped Excel Template File 4.1 Map Taxonomy to Templates Software Vendor 10 Supply Data To EIOPA Excel XBRL Web Filing Portal 4.2 Publish Forms On Filing Portal 8 Run Compliance Checks 9 Extract XBRL XBRL Document FSC Supervisor 4

5 EIOPA Technical Documentation Watch for availability 5

6 EIOPA Tool for Undertakings 6

7 Installation OpenSource XBRL Processor Download & Install from EuroFiling website Desktop Application A number of files are created on the user s computer Public Domain embedded database 7

8 User Interface Template List Message Panel Data Entry Panel 8

9 Validation Templates Highlighted Validation Results 9

10 Excel Support Tabular Excel View Some functionality yet to be developed 10

11 XBRL Support XBRL Export XBRL Import 11

12 Help & Documentation 12

13 Invoke efiling Portal for Solvency II 13

14 Installation Access to a compatible Web Browser 14

15 User Interface XBRL Upload Filing Calendar Password Maintenance Template List Filing Status Summary Data Entry Excel Export/Import 15

16 Validation Link to formula cells Detail of failed validation rule 16

17 Excel Support Note: Calculations are not the same as XBRL formula Calculated (yellow) cells carried over into Excel formula Users can work interchangeably in either view 17

18 Excel Support: Capturing data for import Additional tabs and links to other spreadsheets/sources are ignored on import but values are imported 18

19 XBRL Support: Upload Each template identified in the XBRL file is populated with the supplied facts/values Choose an XBRL document instance created via appropriate software, including T4U 19

20 XBRL Support: Download Extract will also generate an XBRL document as part of the Approve and Submit process Select one of any template that comprises an XBRL instance 20

21 Help & Documentation Access to the user guide is available online and opens in a new browser tab 21

22 Useful Links EIOPA Website: XBRL Toolkit: Invoke Website: SII Portal Video: Solvency II Reporting Technical Specification XBRL Standards Legal Entity Identifier (LEI) 22

23 Filer Checklist Confirm that you are able to install the T4U if required and that your Web Browser meets the Invoke minimum configuration. Refer to the EIOPA documentation to confirm your ability to source the required reporting data. Consider operational procedures for regulatory reporting ready to inform the FSC of your required User Profiles. Agree with the FSC which templates you are required to submit during the Preparatory Phase to enable your calendar to be customised. Ensure you have acquired a Legal Entity Identifier (LEI) for every required entity. Remember that Data Quality, Accuracy and Completeness are the Filers responsibility under EU legislation. Don t change the structure of templates that are downloaded into Excel as this may prevent the data from uploading. 23

24 EIOPA Tool for Undertakings Invoke Filing Portal for Solvency II Software Demonstration 24

25 Thank You Questions 25

26 Additional Detail, as required Addendum 26

27 Validation Traceability Value 0 should equal the sum of values 1, 2 and 3 27

28 Validation Mapped to T4U View of Data {S ,R0230,C0010}={S ,R0240,C0010}+{S ,R0250,C0010}+{S ,R0260,C0010} S Balance Sheet C0010 R0230 R0250 R0260 R

29 Validation Mapped to Excel View of Data {S ,R0230,C0010}={S ,R0240,C0010}+{S ,R0250,C0010}+{S ,R0260,C0010} R0230C0010 R0250C0010 R0260C0010 R0240C0010 S Balance Sheet 29

30 Reporting Template Tables 30

Central Bank of Ireland Insurance National Specific Template Taxonomy. Presented By: Michael Healy, IT Project Manager; Barry Murray, Technical Lead

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