Understanding the PRA and FCA requirements when performing an ICAAP is critical. Starting with senior managers, the PRA’s approach to risk assessment and the values it holds firms to must be demonstrated throughout the ICAAP process and in the subsequent supervisory assessment.
Jaywing can support you with:
- Assessment against PRA Threshold Conditions and Fundamental Rules
- Ensuring the fundamental components of an ICAAP are present and comprehensive
- Ensuring that the approach is proportional to the size, complexity and risk appetite of the firm
- Board and Senior Management training on the PRA supervisory approach, ICCAP and Capital Adequacy.