Operational Risk & Regulation - October issue 2011
The risk management department of the Unipol Group began a project to become compliant with the European Union’s Solvency II Directive – a set of new financial regulations for the insurance industry. This effort was part of a holistic approach to risk management that involved all stakeholders throughout the company: managers of risk, operational risk, compliance, controls law 262/2006 and business processes, along with internal auditors.
[...] Unipol partnered with MEGA, selecting the MEGA Suite to help define the project methodology, which was chosen to meet the Solvency II requirements related to the implementation of the internal model on operational risk. [...]
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