PSG Monthly Update - April 2021

Standards Governance

Process and Standards Group (PSG)

Providing detailed Governance of the evolution of Criterion Standards.

Progress this Month:

The PSG last met on 3 February 2021. Full Minutes are available on the Criterion website.

The topic for May’s Focus Session will be the impact of Gender Identity on operational processes and Criterion Standards.

We look forward to learning how the PSG enjoys the split of sessions across two different days in June.

Future Milestones:

Meetings for 2021

Wednesday, 18 August 2021 (Prioritisation Exercise)

Wednesday, 3 November 2021

Standards Technical Architecture Group (STAG)

Providing technical Governance to Criterion Standards.

Progress this Month:

The STAG last met on 23 March 2021 to discuss Criterion’s JSON & OpenAPI Proof of Concept. There was a useful discussion on several options identified to convert existing Criterion Standards to provide JSON & OpenAPI support and future activity.

Full Minutes are available on the Criterion website.

Future Milestones:

Continued involvement in JSON & OpenAPI activities.

Standards Activities

Letter of Authority Standards Development

Development Project to develop Standard to support the Letter of Authority fulfilment process for DB, DC Pensions, Annuities, Protection and Investment Products.

Progress this Month:

Phase 2 – Investments: Work completed on corrections to change optional fields to mandatory in the schemas in Investment Fulfilment CSV,XML, JSON and API Standards for LoA Investment Fulfilment and associated Microservices.

Phase 3 – Protection: Analysis continuing and Data Requirements commenced.

Future Milestones:

May: No work planned on LoA DC Pensions and Investment Fulfilment as Standards development complete for those phases.

May: Produce Data Sample and continue analysis on Protection Data Items prior to BRD.

May: Consult Working Group and PSG about priorities for future phases.

Occupation Codes List 2020 Standards Development

Update of the Occupation Codes Standard used in quotations and new business processes.

Progress this Month:

Completed the development of XML and CSV version of v3.0 of the Occupation Codes List and published to Industry.

Future Milestones:

May: Continue to work with Industry towards the Implementation of the v3.0 Occupation Codes List

FCA Reference Number Change Requests

Amend existing Standards to support the 3 FCA Reference Number related requirements via BAU Change Request process.

Progress this Month:

QNB Protection, Individual and Group Pensions and Annuities amendments completed and Provisional versions published. QNB Bonds amendments made and currently being QAd.

Future Milestones:

May: Publish Provisional version of QNB Bonds and commence next batch of amendments based on PSG direction.

Common Annuity Applications Research

Looking at opportunities to take friction out of industry processes for annuity applications through greater standardsisation and shared resources.

Progress this Month:

Final Draft Problem Definition Report published to Research Group.

Future Milestones:

May: No activity planned as Research project completed.

Group Risk Quotes

Standards Development project to develop Standards for Group Risk Quotes and Rate Review or Re-Pricing.

Progress this Month:

Kick-off meeting held and terms of business discussed and ratified. One 2 One calls being arranged to discuss end to end process.

Future Milestones:

May: Hold One-to-One calls and document end to end process.

COVID-19 Update

The Criterion team continues to work from home successfully in response to the current COVID-19 situation.

We are well placed to continue with our Standards commitments whilst recognising that operational constraints may make it harder for Working Group Members and other interested parties to engage with us fully. We will continue with our deliveries and keep the PSG and other interested parties updated regarding any unavoidable impact.