Society responds to consultation on Impact Metrics for Risk Based Supervision

The Society of Actuaries in Ireland has responded to a “Consultation on Impact Metrics for the Risk Based Supervision of Financial Firms by the Central Bank and on Impact Based Levies”.

The Society supports the Central Bank’s aim to optimise the allocation of its finite resources by determining supervisory prioritisation via the consideration of both impact and probability of business/compliance failure.  That said, the Society cautions that care must be taken to ensure that the approach adopted does not create the risk that serious potential problems deriving from an entity’s non-core business could be overlooked.

Read the consultation paper

Read the Society’s response

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110224 Impact Metrics.pdf 54.04 KB