|Raining 'Mann' - Glorious Manx summer|
A whopping 34 replies came in, via which the attendees have delivered a reasonable ORSA landscape mock-up, which may help some of you get matters shuffled in your priority lists, given where your peers claim to be.
I noted in particular;
- ORSA Process overwhelmingly run by the Risk functions (over 90%)
- Just over half going for annual frequency, the rest (who responded) naturally more frequent - doesn't instinctively feel representative, but not all of the smaller firms would send someone down to this!
- Around two-thirds have their "Reports" at 50 pages or less - if we assume that by "report" we mean Supervisory as well as Internal, the PRA won't be too chuffed with that given their comments at the December industry seminar.
- Only a third have submitted draft ORSA Reports to the PRA and received feedback
- Coverage of emerging risk appears to be an area which not only do respondees think is lacking, but has received critical feedback from the PRA