Grant Tracker Spreadsheet - PDF by lya30420


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									                       European Commission                                             CEIOPS runs QIS5 on basis
                                                       CEIOPS publishes final QIS                                    Further data will be
                       issues its formal 'Call for                                     of final technical
CEIOPS Actions:                                        5 Technical Specifications                                    presented when spreadsheet
                       Advice' to CEIOPS for the                                       specifications, in the UK via
                                                       and Spreadsheets                                              is published
                       QIS5 consultation                                               the FSA

Timeline               To July 2010                    July 2010                       August 2010                        September 2010                  October 2010                    November 2010
                                                                                   Thorough understanding of
                                                       Understand requirements and                                        Finalise QIS5 spreadsheet       Finalise QIS5 exercise for solo
                                                                                   QIS 5 consultation package                                                                             Finalise QIS5 exercise for
Objective              Prepare for the QIS5 process    resources needed for QIS5                                          completion for solo             undertakings and complete
                                                                                   and complete 50% of the                                                                                groups
                                                       completion                                                         undertakings                    spreadsheets for groups
                                                                                   required calculations
                       1. Ensure you are familiar with
                                                                                       1. Fill in the QIS5 spreadsheet 1. Perform accuracy and
                       the main changes between        1. Read final QIS5 technical                                                                  1. Undertake an independent          1. Complete documentation for
Actions                                                                                with information available from appropriateness checks on the
                       QIS4 and QIS5 that are being specifications                                                                                   check of the spreadsheet             FSA submission
                                                                                       financial returns               data entered
                                                                                        2. Identify the areas where
                                                      2. Set the relevant risk-free
                       2. Put a QIS 5 team and                                          calculations and additional       2. Calculate and/or model the
                                                      interest rate term structures for                                                                   2. Complete documentation for 2. Communicate results to
                       process into place to complete                                   information need to be            required data that was not
                                                      QIS5 using the spreadsheet                                                                          FSA submission                group management
                       QIS5 by Oct/Nov deadline.                                        prepared and arrange for this     included in financial returns
                                                                                        work to start
                                                                                        3. Analyse asset and liability
                                                                                                                          3. Complete SCR calculation
                                                      3. Collate basic data for QIS5 portfolios and identify the risk-                                    3. Communicate the results to 3. Submit the QIS5 results to
                                                                                                                          (standard formula)
                                                      from financial returns            free rate patterns suitable for                                   the management                the FSA
                                                                                        your enterprise
                                                      4. Start to populate QIS5         4. Make progress through SCR                                    4. For solo undertakings:
                                                                                                                          4. Arrange for an independent
                                                      spreadsheet (due last week        calculations (the standard                                      submit the QIS5 results to the
                                                                                                                          check of the spreadsheet
                                                      of July)                          formula)                                                        FSA
                                                                                                                          5. Draft documentation
                                                                                                                          describing the QIS5 exercise
                                                                                                                                                        5. For groups: aggregate the
                                                                                                                          and the anticipated impact of
                                                                                                                          Solvency II on the company's
                                                                                                                          balance sheet

Useful URL:
Key to Action Points      Ideal Position                                                                                               Contacts:
                          Plans should be in place
                          Should be underway
                                                                                                                                                                                                      Date: 15 July 2010

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