Ellen Walsh is a partner in the financial services risk and regulatory advisory practice of PwC and provides risk management and regulatory advisory services to PwC’s leading insurance clients. She currently leads PwC’s efforts related to the impact of the regulatory change on financial institutions, specifically on insurance companies. Her work has been on designing and implementing risk practices in line with the Fed’s expectations, including topics such as recovery and resolution planning, capital planning and stress forecasting program development (applying CCAR standards within the insurance company context), compliance risk management programs (in accordance with SR08-8 standards), corporate policy frameworks and intercompany transaction frameworks.
In April 2016, the U.S. Department of Labor (DOL) released a regulatory package that established a new standard for fiduciary investment advice. Under the Fiduciary Rule, investment recommendation given to an employee benefit plan or an individual retirement account (IRA) is considered fiduciary investment advice and therefore must be in the “best interest” of the […]
Like the rest of the financial services industry, insurers are subject to increasingly complex and prescriptive regulations and standards. In the coming year, insurers will need to focus on the new U.S. Department of Labor fiduciary standard, which is likely to have a significant effect on how insurance products are sold. Moreover, global developments, especially […]