Dublin, 09 December 2014

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  • Actuarial Post
  • Insurance Asset Risk

  • Pillar 3 of the Solvency II Directive dictates that insurance companies must provide insight into the risk and return profile of the investments, with more granular and frequent reporting requirements
  • Silverfinch look-through data has been integrated into FRS’s governance, risk and compliance (GRC) software to enable automated QRT reporting.

Financial Risk Solutions (FRS), a provider of investment administration and compliance oversight software solutions, has today announced that Silverfinch data is now integrated into its InvestGRC™ product as part of its automated Solvency II QRT reporting functionality.

This means that InvestGRC™, the investment governance, risk management and compliance software solution from FRS, now comes with the automatic ability to consume data directly from Silverfinch, where asset managers have approved access to an insurer, to generate QRT D1 (investments data) & D4 (investment funds) reports.

Silverfinch, part of the MoneyMate Group, is a global standard utility for allowing Investment managers share and protect sensitive portfolio data with clients,using an industry approved data standard . This new functionality on InvestGRC™ means that users can now seamlessly produce QRT reports in their required regulatory format, based on Silverfinch’s look-through data.

John Dowdall, Managing Director at Silverfinch says “Silverfinch provides all the asset Investment look-through data required for life companies to report on their fund and fund-of-funds holdings. To have the ability to seamlessly generate compliance-ready reports from this data from one system is a real advantage for asset managers and life companies, and the team at Silverfinch are delighted to be part of the InvestGRC™ offering.”

Frank Carr, Chief Marketing Officer at FRS says, “The production of QRT reports is one of the many regulatory challenges that life insurers face - not least because of the vast quantities of data required, often from multiple sources, but also the frequency of reporting. Having one system that automates the entire process and seamlessly integrates with Silverfinch data is a real benefit and will ensure that life companies can meet their regulatory reporting requirements.”