Case Study — Insurance / Regulatory Strategy
A mid-tier UK insurer needed its regulatory reporting function rebuilt ahead of a Solvency review, after a decade of organic growth had left no single person able to map which team owned which figure in the firm's returns.
The Transformation Framework™
The reporting function had grown organically, with each new requirement handled by whichever team had capacity. No one could produce a complete map of ownership across the firm's regulatory returns.
The fragmentation reflected genuine ambiguity over whether regulatory reporting belonged to finance, risk, or both — an ambiguity that persisted because resolving it meant one function head ceding authority, and neither had volunteered.
We proposed splitting ownership by report type rather than department, with a single accountable owner named for each return regardless of which team performed the work. The executive committee approved the split, requiring both finance and risk to accept narrower mandates.
Each of the firm's fourteen regulatory returns was assigned a named owner, documented data lineage, and a review calendar aligned to the supervisor's cycle rather than internal planning. The remediation ran alongside live reporting obligations with no deadline missed.
Data lineage, previously nonexistent for 9 of 14 returns, now covers all 14. Quarterly return compilation time fell from eleven working days to six, and the firm passed its subsequent supervisory review without a single reporting-related finding.
Measured Outcomes
Reflection
"Regulators don't just read the number. They read whether you can explain, immediately, why it's the right number."
Margaret Osei — Head of Regulatory StrategyEngagement team
Head of Regulatory Strategy
Principal, Insurance
Principal