We supported the Financial Services Authority (FSA) with its project and programme delivery assurance work, helping to ensure that its most complex programmes were designed and delivered effectively.
One of these programmes was the implementation of the European Solvency II Directive, which will transform the way the entire European insurance industry manages risk and capital. As the regulator of the UK’s financial services industry, the FSA is responsible for overseeing the UK insurance industry’s preparation for implementing the directive, as well as implementing the associated changes to supervisory processes and systems.
We supported the delivery of the Solvency II programme, which had a budget of over £100 million and was the largest programme the FSA had ever undertaken. Our role in helping to deliver the initial stages of the programme to challenging timescales has been widely recognised by the FSA’s senior management, who have committed to retaining PA to support delivery of the programme until 2013.
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