Solvency II Directive – Workshop on the increased Roles and Obligations of Directors

The workshop is ideal for Executive Directors, Non-Executive Directors, Committee Members, Controllers, Senior Managers, Compliance Officers, Accountants and Lawyers, other Professionals and University Students.

Venue Hilton Malta Business Centre,  Portomaso, PTM 01, Malta

Registration Fee:
€175 per person or €150 per person for a minimum of three applicants from the same organisation;
University Students Fee: €75;
The fee includes a parking ticket, lunch & coffee breaks; cheques are payable to the Institute of Legal Studies Malta


If you are interested kindly use our online registration form


A certificate of attendance will be issued to all participants.

6.5 hours of structured CPE qualifying for the attainment of Professional Development Competencies in terms of the MIA CPE Regulations

Monday 24th November, 2014

0900 Registration & Welcome Coffee

0930 -1250 (coffee break 1100-1120)

  • What are the Obligations of Directors, Senior Managers and Controllers with respect to Pillar I?

This session will deal with the duties and responsibilities of the Directors, Senior Managers and Controllers introduced by the various Pillar I requirements which include:
– the Understanding of the Tiering of Own Funds;
– the Simplifying of the Standard Formula Calculations and Underlying Assumptions;
– the Ability to make informed Decisions in Relation to the Technical Reserves Methodology.

Mr. Alfred Parnis, Deputy Director, Insurance & Pensions Supervision Unit; MFSA

Ms. Ranjini Paramalingam, Actuary & Consultant; Insurance & Pensions Supervision Unit; MFSA

1250 – 1350 Lunch Break

13501650 (coffee break 1600-1620)

  • Challenges of Ensuring good Corporate Governance under Pillar II

This session will deal with preparatory steps towards the implementation of the Pillar II requirements. The increased roles and responsibilities of Directors, Senior Managers’ and Controllers will be discussed to ensure good corporate governance and an effective risk management system, particularly:
i. the Board and the organisational structure, size, mix of directors: analysing the differences between an Executive and a NED; are their responsibilities and liabilities the same? Key functions; Clear roles and responsibilities; Reporting lines: are they effective and implemented ?
ii. are the directors, senior managers and controllers in your company still fit and proper?
iii. challenging the FLAOR/ORSA process;
iv. outsourcing – who is the function holder?;
v. strategy and underlying policy framework – what is the status?

1700 – 1800

  • What are the obligations of Directors with respect to Pillar III?

This session will deal with the increased reporting obligations of the Directors, Senior Managers and Controllers in relation to the Pillar III requirements particularly:
i.  Public Disclosures – the SFCR;
ii. Reporting Requirements.

Dr. Stephanie Cassar, Insurance Legal; GANADO Advocates
Ms. Tanya Causon, Insurance Regulatory; GANADO Advocates

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