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2012 Charges
- Continue incorporating the assessment of risk and risk management into the financial solvency oversight role.
- Continually review the Financial Condition Examiners Handbook and revise, as appropriate.
- Review annually the examination procedures included within the Financial Condition Examiners Handbook for updates in response to revisions to the Accounting Practices and Procedures Manual.
- Continually review the Annual Financial Reporting Model Regulation (#205) and its related Implementation Guide and revise the Financial Condition Examiners Handbook, as appropriate.
- Coordinate with the Risk-Focused Surveillance (E) Working Group to monitor the implementation of the revised risk-assessment process by developing additional guidance and exhibits within the Financial Condition Examiners Handbook as needed to assist examiners in completing financial condition examinations.
- Review current guidance in the Financial Condition Examiners Handbook regarding the examination of reserve liabilities for life insurance companies and recommend appropriate revisions based on the finalized principles-based reserving standards.
- Upon notice that a class of securities has been placed under regulatory review, the Chair of Financial Examiners Handbook (E) Working Group or his or her representative will be deemed a member of the Invested Asset (E) Working Group of the Valuation of Securities (E) Task Force. The Chair or his or her representative is charged with contributing the perspective and expertise of the regulatory group to the development of NAIC regulatory guidance for the security under review.
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