On Thursday 22 November 2018, EisnerAmper Ireland & Insurance Ireland hosted the third in a series of INED fora in the St. Stephen’s Green Hibernian Club, Dublin 2, the final gathering in 2018 of the Industry INED community under the auspices of the Insurance Ireland – EisnerAmper Ireland INED Forum.
The event focused on the potential impacts and implications, for the industry, of proposals which have been outlined in recent speeches by, amongst others, the Central Bank of Ireland’s Director of Enforcement (August 2018), the Director of Securities and Markets Supervision (September 2018) and more recently by the wider senior management team at the Central Bank’s conference on Culture, Diversity and the Way Forward (October 2018) referencing proposals for the adoption of a Senior Executive Accountability Regime, or “SEAR”.
This proposed regime would place obligations on firms and senior individuals within them to set out clearly where responsibility and decision-making lie for their business. The new regime is intended to be modelled on the UK’s Senior Managers and Certification Regime (SMCR).
Dave Montgomery, Partner, Head of Risk & Regulatory at EisnerAmper Ireland gave an introductory presentation outlining the background to the proposed SEAR regime and acted as the MC for the afternoon and the speakers included:
EisnerAmper Ireland is delighted to be working with Insurance Ireland and their dedicated INED Council, supporting the delivery of their Annual INED Seminar in February and co-hosting a series of bespoke INED Fora throughout 2018. As the voice of insurance actively promoting the highest standards, Insurance Ireland represents 95% of the domestic market and more than 80% of Ireland’s international life insurance market. The Insurance Ireland INED Council promotes best practice for insurance industry INEDs in addition to acting as a sounding board for entities, organising appropriate training and acting as a networking hub.
As Head of Risk & Regulatory at EisnerAmper Ireland, Dave Montgomery leads a team in the provision of regulatory, risk management, audit and advisory solutions to Insurers and Reinsurers operating in or through Ireland. As a former regulator with the Central Bank of Ireland, Dave supervised insurance and reinsurance firms and also worked on the development and implementation of the PRISMTM framework. If we can assist you or your business in any way, please contact Dave Montgomery.
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