Finance & Risk Management (FRM)

Role

The FRM team monitors and assesses the potential impact of developments relating to accounting, reporting, taxation and other financial and regulatory matters which may affect managing agents and syndicates.  These arise from proposed changes in regulatory, statutory and other requirements from Lloyd’s, the UK Government, Financial Services Authority, European Commission and overseas regulators (including the NAIC, NYID etc).  The team works very closely with a number of departments at Lloyd’s, including Market Finance, Market Reserving & Capital and International Market Access.

Much of the work performed by the FRP team is reported to and on behalf of, two Policy Committees of the LMA Board, namely the Finance Committee (FinCom) the Regulatory Committee (RegCom) and the Solvency II Committee (Solvency II).

Sub groups

There are currently a number of working and project groups reporting either to the Finance Committee, the Regulatory Committee or to the Solvency II Committee.