Risk-based supervision

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Structure of Pension Supervisory Authorities and their Approaches to Risk-Based Supervision

IOPS paper examines effect of global financial crisis on risk-based supervision

International Organisation of Pension Supervisors working paper looks at effect of global financial crisis on pension supervision. Examines potential impact on structure of pension supervisory authorities. The crisis increased implementation of risk-based supervision or prompted review of risk-based approaches to strengthen risk identification methodologies.

Publisher: Global Standard-Setting Bodies Release date: Jul 2012

Type: Consultative, discussion and issues paper

Topics: Risk-based supervision, Supervisory framework, Supervisory structures

Sectors: Pensions

Introduction to Risk-based Supervision

IOPS guideline sets out definition of and reasons for adopting RBS

International Organization of Pension Supervisors guideline from IOPS Toolkit for Risk-based Supervision (RBS). Sets out definition of risk-based supervision and why and how it should be applied. Summarizes IOPS members' experience when introducing RBS, outlines challenges they encountered (from gathering the right information, to how to look at systemic as well as individual pension fund risk, to changing the culture of supervisory authority), and lessons learned.

Publisher: Global Standard-Setting Bodies Release date: Feb 2011

Type: Guideline

Peer: Preparation for Risk-Based Supervision, Quantitative Risk Assessment Tools, Identifying Risks , Risk Mitigants and Risk Scoring , Supervisory Response

Topics: Risk-based supervision

Sectors: Pensions

Preparation for Risk-Based Supervision

IOPS module 1 guideline sets out foundational issues of RBS

International Organization of Pension Supervisors guideline from IOPS Toolkit for Risk-based Supervision (RBS). Module 1 outlines issues to be considered before implementing RBS, notably relating to legislative environment and readiness of pension supervisory authority and pension industry. Includes questionnaires to assess preparedness and identify critical path for implementation and pace at which RBS can be rolled out.

Publisher: Global Standard-Setting Bodies Release date: Feb 2011

Type: Guideline

Peer: Introduction to Risk-based Supervision, Quantitative Risk Assessment Tools, Identifying Risks , Risk Mitigants and Risk Scoring , Supervisory Response

Topics: Risk-based supervision, Supervisory framework

Sectors: Pensions

Quantitative Risk Assessment Tools

IOPS module 2 guideline for measuring risk in defined benefit and defined contribution pension funds

International Organization of Pension Supervisors guideline from IOPS Toolkit for Risk-based Supervisors (RBS). Module 2 examines tools to be used by a pension supervisory authority in quantitative assessment of risk. Guideline reviews: i) quantitative regulatory requirements that provide foundation for quantitative assessment of risk; ii) techniques for quantitative assessment of risk; and iii) integrating quantitative tools into risk assessments.

Publisher: Global Standard-Setting Bodies Release date: Feb 2011

Type: Guideline

Peer: Introduction to Risk-based Supervision, Preparation for Risk-Based Supervision, Identifying Risks , Risk Mitigants and Risk Scoring , Supervisory Response

Topics: Risk-based supervision, Supervisory framework, Risk quantification

Sectors: Pensions

Identifying Risks

IOPS Module 3 guideline examines individual entity risk focus, factors and indicators, and systemic rick

International Organization of Pension Supervisors guideline from IOPS Toolkit for Risk-based Supervision (RBS). Module 3 assists supervisory authorities to appropriately identify risks in the context of the authorities' objectives and resources.

Publisher: Global Standard-Setting Bodies Release date: Feb 2011

Type: Guideline

Peer: Introduction to Risk-based Supervision, Preparation for Risk-Based Supervision, Quantitative Risk Assessment Tools, Risk Mitigants and Risk Scoring , Supervisory Response

Topics: Risk-based supervision, Supervisory framework

Sectors: Pensions

Supervisory Response

IOPS Module 5 guideline examines supervisory response matrix, communicating risk assessments and escalation of supervisory response

International Organisation of Pension Supervisors guideline from IOPS Toolkit for Risk-based Supervision (RBS). Module 5 provides guidance about how to devise a response matrix to help determine and organize supervisory action. Discusses: i) supervisory response matrix and examines responses to individual entity risks and systemic risks; ii) communication of risk assessments, including whether and how much to disclose; and iii) escalation of supervisory response.

Publisher: Global Standard-Setting Bodies Release date: Feb 2011

Type: Guideline

Peer: Introduction to Risk-based Supervision, Preparation for Risk-Based Supervision, Quantitative Risk Assessment Tools, Identifying Risks , Risk Mitigants and Risk Scoring

Topics: Risk-based supervision, Supervisory framework

Sectors: Pensions

Supervisory Framework

Update to OSFI's overall supervisory framework

Office of the Superintendent of Financial Institutions of Canada updated supervisory framework describing principles, concepts and core process that OSFI uses to guide its supervision of regulated firms. Accommodates unique aspects of deposit-taking, life insurance, and property and casualty insurance sectors. Reflects significant developments in financial services industry that have changed the nature of risks and risk management of financial institutions.

Publisher: National Regulators Release date: Nov 2010 Country: Canada

Type: Supervisory Practice

Peer: Composite Risk Rating and Assessment Criteria

Topics: Supervisory framework, Risk-based supervision

Sectors: Banking, Insurance

IOPS Principles of Private Pension Supervision

IOPS principles covering necessary requirements for an effective pension supervisory regime

International Organization of Pension Supervisors principles designed to cover occupational and personal pension plans and/or pension funds. Outlines 10 main areas for effective pension supervision: i) objectives; ii) independence; iii) adequate resources; iv) adequate powers; v) risk-based supervision; vi) proportionality and consistency; vii) consultation and cooperation; viii) confidentiality; ix) transparency; and x) governance.

Publisher: Global Standard-Setting Bodies Release date: Nov 2010

Type: Guideline

Peer: Methodology for Review of Supervisory Systems Using IOPS Principles, Good Practices on Consumer Protection Related to Private Pension Systems

Topics: Transparency and disclosure, Corporate governance, Risk-based supervision, Pension and retirement plans

Sectors: Pensions

Methodology for Review of Supervisory Systems Using IOPS Principles

Assessment methodology for the IOPS Principles of Private Pension Supervision

International Organization of Pension Supervisors paper outlining methodology used for 2010 study IOPS Principles of Private Pension Supervision. Provides a structured means of assessing extent to which a pensions supervisory authority complies with letter and spirit of Principles. Translates text supporting each Principle into key considerations to be taken into account in making the assessment along with a series of specific questions. Considerations and questions have been informed by IOPS work on good governance in pension supervisory authorities, by OECD/IOPS Guidelines on Licensing of Pension Entities and by IOPS Working Paper on the Implementation of Risk-based Supervision.

Publisher: Global Standard-Setting Bodies Release date: Oct 2010

Type: Standard

Parent: IOPS Principles of Private Pension Supervision

Topics: Compliance function, Transparency and disclosure, Risk-based supervision

Sectors: Pensions

Internal Capital Adequacy Assessment Process

OSFI guidelines on expectations for an institution’s internal capital adequacy assessment process (ICAAP)

Office of the Superintendent of Financial Institutions of Canada guidelines defining the scope of an ICAAP and its relationship to banks' risk management programs and OSFI's overall supervisory process, including its assessment of capital adequacy.

Publisher: National Regulators Release date: Sep 2010 Country: Canada

Type: Guideline

Topics: Capital adequacy, Risk management, Risk-based supervision

Sectors: Banking

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Resources

382 records

Structure of Pension Supervisory Authorities and their Approaches to Risk-Based Supervision

Introduction to Risk-based Supervision

Preparation for Risk-Based Supervision

Quantitative Risk Assessment Tools

Identifying Risks

Supervisory Response

Supervisory Framework

IOPS Principles of Private Pension Supervision

Methodology for Review of Supervisory Systems Using IOPS Principles

Internal Capital Adequacy Assessment Process

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