Standards Governance
Process and Standards Group (PSG)
Providing detailed Governance of the evolution of Criterion Standards.
Progress this Month:
The PSG met on 17 August to review outcomes from 2022’s project prioritisation exercise. The Group agreed a programme of work for Criterion’s Standards over the rest of 2022 and into 2023 to be recommended to the Standards and Governance Executive at its September meeting.
Input papers and full minutes are available for those who have access.
Future Milestones:
Meetings for 2022:
- Wednesday, 2 November 2022 (Focus and Plenary Meetings). Hybrid meetings including face-to-face element in London.
Standards Technical Architecture Group (STAG)
Providing technical Governance to Criterion Standards.
Progress this Month:
- No STAG business currently in progress.
Future Milestones:
- Criterion will continue to liaise with the STAG on the technical direction of Standards, and how the emergence and adoption of new technologies will shape their future.
Standards Activities
Letter of Authority Standards Development
Development project to develop Standards to support the Letter of Authority fulfilment process for DB, DC pensions, annuities, protection and investment products.
Progress this Month:
- Phase 3 – Protection: Awaiting confirmation from Working Group if demand exists for OpenAPI and JSON versions of LoA Protection Standards.
- Phase 4 – LoA Request: Following the sign off of the candidate design we continue with the technical development stage of LoA Request Standards.
Future Milestones:
- September: Schedule OpenAPI and JSON version of Protection Standards once demand confirmed.
- September: Progress technical development of Draft A LoA Request Standards.
Occupation Codes List 2020 Update Implementation
Supporting industry adoption of the revised Occupation Codes Standard used in quotations and new business processes.
Progress this Month:
- Criterion shared details of the proposed implementation window.
Future Milestones:
- September: A further meeting to track the implementation approach.
Group Risk Quotes and Placement
Standards Development project to develop Standards for Group Risk Quotes (GRQ); similar Re-Pricing and Rate Review processes; and Placement.
Progress this Month:
- Candidate Design document completed and awaiting technical QA.
Future Milestones:
- September: The candidate design for GRQ GLA for New Provider will be published to the Working Group for review before the end of September.
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September: Analysis of Rate Review and Repricing process and data requirements will commence.
BAU Change Requests
- FCA Reference Number changes.
Progress this Month:
- Further progress on applying FCA Reference CRs to Contract Enquiry Standards in line with agreed priority – the initial Standards being worked on are CE Pensions and CE Bonds.
Future Milestones:
- September: Continue FCA Reference changes to Contract Enquiry Standards.
Deliverables/Documentation Published in August 2022
- DFM Model Portfolio Maintenance workstream 2 MI – Business Requirements Document draft A
