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Key Activities 
FSC has many years of experience in SimCorp Dimension gained through various projects in Banks, Investment firms, Insurance companies and Securities trading.

Fit for UCITS IV?
The upcoming renewal of the “Undertakings for Collective Investments in Transferable Securities” (UCITS IV) mainly focuses on new regulations in the internationalization of the investment fund industry.

Solvency II
Will Solvency II in its today announced form become reality? Which adaptations in and all around SCD will be necessary?

Solvency II

Will Solvency II in its today announced form become reality? Which adaptations in and all around SCD will be necessary?

For IT officers within insurances Solvency II still seems to be a distant prospect. Currently they need a conversion strategy until the end of 2012. In 2013 at the earliest these directives come into force.

Dr. Thomas Steffen, first manager Insurance Supervision of the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht - BaFin) and acting chairperson of the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS): „We all have learnt at the beginning of this millennium that one does not build lifeboats only in the storm.“

FSC is already on the ball. We read the announcements of the EU commission, CEIOPS and the BaFin and combine this for our customers and SCD users.

The changes are made up of 3 areas – comparable to Basel II – in Solvency II called 3 pillars and we see our focus and our competence above all in the conversion of the demands from the 2nd pillar.

 

Solvency II overview

 

Currently we expect the following challenges:

 

Risen qualitative demands for the risk management system

  • „Fit and Proper-criteria“, i.e. availability of a risk strategy, adequate design and process organisation of an internal controlling system
  • „Excel as a final solution is not suitable“ (customer feedback in accordance with a SimCorp survey)

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    Use of SimCorp Dimension

  • In accordance with QIS 5 (5. Quantitative effect study to Solvency II, calibration and conversion test for specifications of the technical realisation measures and later supervision guidelines to Solvency II): Widespread use of front office tools for data extraction from SimCorp Dimension
  • Entire coverage and usage of the market risk module in SimCorp Dimension (market risk sub module: interest risk (absolutely) and share risk (relatively) are as a rule the main contribution components)

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    Ask us - with a decade of experience in SCD we already have the answers today.

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