29 September 2017

EIOPA: Single programming document 2017-2019

The current document combines the aim of providing clear information to stakeholders on EIOPA’s goal and mandate, including a transparent description of deliverables, together with concrete business objectives for the teams and individuals working at EIOPA, key for internal management.

To develop EIOPA further as a credible supervisory Authority within the European System of Financial Supervision we are following three main strategic priorities: First, enhancing supervisory convergence, second, reinforcing preventive consumer protection and third, preserving financial stability.

Supervisory convergence becomes key in a period where effective implementation of Solvency II is both a challenge and an opportunity, and we want to make the utmost out of the latter. A true Single Market demands level playing field and quality regulation and supervision. 

The trust of consumers in the area of financial sector, including insurance and pensions, deserves being enhanced, and EIOPA is targeting a range of measures to be a key contributor to its enhancement, with the customer interest at its centre.

Coming out of an unprecedented financial crisis, that has severely affected the economy and the people, EIOPA is fully committed to contribute anticipating and mitigating unintended developments for the financial sector and will make use of stress tests, risk indicators and other tools to be in the frontline of action for the Insurance and Pensions sectors.

The Single Programming Document (SPD) consists of two parts. The first part sets up the direction of the development of EIOPA‘s Authority and the relevant business strategic objectives and actions for the period 2017 - 2019. The second part outlines the tasks EIOPA is mandated to, and will perform, in the course of the specific year in which the SPD applies (2017, 2018 and then 2019).

This SPD is the reflection of efficient internal governance, planning and coordination followed within EIOPA in the past years. All the actions and deliverables indicated have undergone a solid prioritisation assessment and were carefully checked against required and available financial and human resources, expertise and skills. Each work stream and project indicated in the SPD is monitored by robust performance indicators supported by clear internal control standards. In order to ensure business continuity and high-quality deliverables, dedicated focus is given to associated risks and how they are managed within EIOPA. 

In line with EIOPA’s principles of transparency and accountability, the SPD presents EIOPA’s revenues, expenditures, staffing and organisational structure in a detailed and comprehensive manner.

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