RegTech for IFRS 17
- Analysis of impacts related to the implementation of the new standard
- Hypotheses of an approach for the correct feeding of IFRS 17 valuation engines
- The pillars on which to base a solid process with data quality and governance at its core
VISIT IRION RESOURCE CENTER
RegTech for IFRS 17
Major changes include the shift to a prospective view and the advent of the Unit of Account (UoA), the new concept of Contractual Service Margin (CSM), coverage units, and the three new Measurement Models. The impacts of the transposition of the standard affect multiple levels: decision-making, organizational, operational, and application. This white paper describes the effects of the new standard and the areas of Data Management involved in the concrete applications of the standard: Data Integration, Data Quality, Data Governance, and Workflow Management. In this context, the Irion solution is a candidate as a natural garrison for complex data pipelines, positioning itself in the IFRS 17 end-to-end process upstream from the calculation and accounting impact management solutions and more specifically as a tool to govern the feeding of these platforms, ensuring traceability and consistency to the delicate feeding phase.
Roberto Fasano
Roberto began his experience in application consulting in the finance area in 2000, and worked for several years as a functional analyst in an IBM group company. In 2004, he moved to theCPM sector, where he delved into management control, financial statements, and consolidated regulatory reporting, with a focus on Data Integration aspects. Since 2016, he has been enriching his experience in an international context, taking the lead in developing new application solutions under IFRS 9 and IFRS 17. Since September 2018 he has been working in Irion within the Consulting Solutions division, where he contributes to the development of solutions in the Regulatory Reporting area, of which he follows the functional analysis and presales phases. As part of these activities, he/she participates in initiatives related to the Prototyping Work Stream of the BIRD (Banks’ Integrated Reporting Dictionary) project, launched by the ECB to support supervised European intermediaries in meeting their statistical and regulatory reporting obligations..
Lanfranco Gastaldi
Lanfranco has worked in application consulting for financial and insurance institutions since 1996, gaining significant experience in Front/ Middle/Back Office and Risk Management.
He has been with Irion since 2006, where he has been involved in management control, management/accounting reconciliation, and regulatory reporting issues.
He participates in initiatives related to the Prototyping Work Stream of the BIRD (Banks’ Integrated Reporting Dictionary) project of the ECB.
