Background
Our client, an established Global insurance carrier, had to respond to the evolving regulatory framework of Solvency II. There was a need to establish a capability to evidence that controls were in place to meet the regulator’s reporting requirements for Solvency II Pillar III.
What was the challenge?
In a timely and efficient manner, our client had to respond and safeguard its reputation.
They needed to onboard a credible Solvency II specialist, who could understand business processes, finance and accounting. The specialist needed the necessary expertise to work closely with a delivery team to translate business requirements into solutions. They also had to be able to partner with various workstreams to drive best practice sharing, process efficiencies and enhance the reporting controls.
How did r10 help?
The Staff Augmentation team worked with the client to understand their project requirements, which were matched with our associate’s skills, experience and knowledge. We set clear project objectives up front with our client, to be delivered within a set timeframe. By giving them access to a talent pool of skilled professionals, we managed to promptly onboard a Solvency II Business Analyst committed to delivering the specific outcomes.
What was the outcome?
As an integral part of the delivery team, the Business Analyst built a Pillar III reporting solution on time that met both business and regulatory requirements. Furthermore, to increase the BAU reporting capability, the Business Analyst led the knowledge centre and best practice by coaching and mentoring others on client site.