A UK-based mutual wishing to reduce costs and bring greater transparency to their reporting.
- A need to perform a look-through analysis of 542 funds, 75,719 asset lines and a Standard Formula SCR calculation.
- Requirement to meet Solvency II reporting content requirements and deadlines.
- Existing spreadsheet-based models did not satisfy reporting or MI requirements.
What MBE did
- Analysed the client’s asset universe and complexities.
- Investigated the optimal combination of fund managers data vendors and licences required to access the data required.
- Implemented an end-to-end risk management and capital optimisation software system developed and implemented by MBE, which
- enabled the client to integrate, standardise and store data from various sources.
- automated the calculation and integration of the Standard Formula asset stresses.
- Met Solvency II reporting requirements on time and with greater transparency.
- Stronger Risk Framework with consistent information throughout cycle.
- Cost savings in resource requirements and production.
- Improved reporting and MI through the end-to-end solution, providing one version of the truth.