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Solvency II Compliance for End User Computing Applications

What is Solvency II

Solvency II is a fundamental review of the capital adequacy regime for the European insurance industry. The regulation sets out new European Union requirements on capital adequacy and risk management for insurers to increase policy holder protection and reduce the possibility of consumer loss or market disruption in insurance. Scheduled to go into effect on November 1, 2012, Solvency II will apply to all insurance and reinsurance firms with gross premium income exceeding €5 million or gross technical provisions in excess of €25 million.

solvency_II_compliance - End User Computing Applications

Solvency II Central Elements

Central elements of the Solvency II regime include:

  • Pillar 1 - Quantitative Requirements: Demonstrate adequate financial resources including own funds, technical provisions and Solvency II capital requirements.

  • Pillar 2 - Qualitative Requirements: Demonstrate adequate governance including an effective risk management system, prospective risk identification through the Own Risk and Solvency Assessment (ORSA) and a Supervisory Review Process.

  • Pillar 3 - Disclosure: Public disclosure and regulatory reporting requirements.

Features



Web Based System Administration

Discovery & Risk Assessment Software
 
  • Perform an automated inventory of all spreadsheets, databases and other EUC files across the organization.
  • Perform a Risk Assessment of each EUC based on configurable risk criteria. Determines the status of each EUC (compliant/non-compliant) and identified high risk EUCs.
  
Multiple Authentication Modes

Spreadsheet Auditing and Analysis
 
  • Perform a highly visual, color-coded logic inspection of the spreadsheet. Accelerate supervisory review using spreadsheet compare tools, formula analysis and macro analysis.
  • Complete spreadsheet documentation and reporting.
  
Multiple Authentication Modes

Spreadsheet Controls and Supervisory Review
 
  • Spreadsheet governance and controls with traceability, accountability and security.
  • Traceability with workbook, worksheet and cell level audit trails.
  • Accountability with user-configurable supervisory review and workflow processes. Accelerate supervisory review with file compare and management reporting tools.
  • Security at the workbook, worksheet and cell levels.
  • Zero client solution with no end-user impact on the desktop or to existing spreadsheet processes.
  • Management reporting based on exceptions, dashboards and alerts.
  
Multiple Authentication Modes

Compliance Solution for Access® Databases
 
  • Compliance solution for Access® databases similar to SOX-XL.
 
 
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