As part of risk management every undertaking must conduct its own risk and solvency assessment covering overall solvency needs given its risk profile, approved risk tolerance limits and business strategy; continuous compliance with capital requirements and technical provisions; and how far its risk profile deviates from the assumptions underlying the SCR. Processes must be proportionate and identify short- and long-term risks, with the methods demonstrated; undertakings using matching or volatility adjustments or transitionals assess compliance with and without them. The ORSA is integral to strategy, performed regularly and without delay after any significant change in risk profile, and its results are reported to the supervisor (the ORSA supervisory report, within two weeks of concluding the assessment, presenting results, methods, solvency needs compared with requirements and own funds, and unmodelled risks); it does not set a capital requirement. The assessment of overall solvency needs must be forward-looking.
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.