Thorsten Hein is a Principal Product Marketing Manager in the Risk Research and Quantitative Solutions Division at SAS Institute. He specialises in global risk management operations insights in both banking and insurance, focusing on risk and finance integration, IFRS, Solvency regulations and regulatory reporting. He helps risk management stakeholders to go beyond pure regulatory compliance and drive value-based management to maximise business performance, using his wide experience to deliver both business relevance and technical coherence.
The importance of risk management has always been clear in financial services, but it is growing in other industries, including energy and telecommunication companies. This importance is being amplified through increasing demand for risk and finance integration. New risk data architecture is needed to focus on the integration of time
The CRO’s agenda is more crowded than ever, especially right after the summer time looking towards the end of the actual and the preparations for the new year. Regulators, auditors, boards and investors continue increasing the pressure on financial institutions. In addition to the already known challenges coming from competition,
Let’s start with a question. Do you see risk management as: The responsibility of the Chief Risk Officer, involving a lot of paperwork, and largely a tickbox exercise with no real benefits, but something we have to do; or Everyone’s responsibility, and a chance to have some difficult conversations in
SFCR, or the Solvency and Financial Condition Report, is the final part of the Solvency II: the public reporting of information. The publication of these reports, and their accompanying public Quantitative Reporting Templates (QRTs), is a big issue for companies. In particular, companies have to decide what they are going
Solvency II went live almost a year ago. It should therefore have become part of the furniture by now, but it is clear from recent conversations that the journey is by no means over yet. What’s more, there are other challenges facing the insurance industry that will need to be
There are times when ‘wait and see’ is the ideal strategy. Research shows, for instance, that some forms of prostate cancer are so benign that doing nothing except monitor is genuinely the best way to avoid harm. But with IFRS 4 Phase II, on accounting for insurance contracts, it is
