RISK SERVICES
We support insurance clients with all aspects of risk management and risk and capital reporting.
Overview of Risk Services
We help regulated insurance firms manage all aspects of their risk management frameworks, ensuring that they are operating in line with all relevant guidance from the relevant regulators.
Our Risk Services can be provided as required, or as part of a fixed cost retainer solution covering compliance and/or risk services.
What We Do
We support clients with the development and maintenance of risk frameworks including policies, appetites, key risk indicators and risk registers. We can assist you with annual planning, ORSA delivery, Stress and scenario testing, control effectiveness testing and risk analysis. ICSR has considerable practical experience in, and can assist with, various risk management matters such as:
- Developing Risk management Target Operating Models
- Risk management framework development and review (Solvency II compliant where necessary)
- Risk policies and processes development and review
- Risk appetite thresholds and tolerances
- Risk reporting frameworks
- Risk Culture, Conduct Risk and Cyber Risk assessments and implementation of recommendations
- Development and implementation of KRIs, Emerging Risks and Loss Events frameworks
- Programme/Project and M&A Risk Management
- Risk and control registers, development and review
- Annual risk management activity plan
- Control effectiveness testing/monitoring
- Stress and scenario development and testing
- ORSA frameworks (policy, process, report) preparation and review
- Solvency II System of Governance reviews
- Risk management outsourcing full/partial
- Reviews, audits and health checks on all aspects of a Risk function including resourcing, frameworks and all other activities such as reporting processes
- Selection and implementation of GRC applications
- Provision of Risk Management training to Control Owners, Risk Owners, C-Suite and NEDs
Key Contacts:
If you would like to know more about the way we could help your firm, please speak with one of our Risk specialists.
Claire King
Risk & Compliance Director
Latest Risk Case Studies
Latest Risk Articles
2025 Insurance Supervision Priorities – Balancing Prudence and Growth
In a letter dated 9th January 2025, the PRA has set out its insurance supervision priorities for 2025. We take a look at what this means for insurance firms.
ICSR Horizons Q4 2024: Our Quarterly Report For Senior Leaders
The Q4 2024 edition of Horizons, our quarterly report for senior leaders across compliance, risk and regulatory roles within insurance firms is now available. Download your copy now.
Non-Financial Misconduct: The FCA Survey Results and Next Steps For Firms
The Financial Conduct Authority (FCA) has taken a significant step forward in addressing the rising regulatory focus on non-financial misconduct in insurance firms with the recent publication of its survey results.
