EIOPA's Work Programme is the vehicle used by the Authority to map, prioritise, and monitor its goals and deliverables. It is linked to the long term strategy of the Institution, its current development stage and its budget.
The Work Programme 2014 is structured in a similar way to past Work Programmes, to mirrors both the tasks and the internal organisation of EIOPA. It is developed with two underlying assumptions: quality of work, and high ambition, so as to position EIOPA as a reference and a difference maker for the Union and its citizens in the field of Insurance and Occupational Pensions. Yet, both elements trigger effective prioritization processes, in line with EIOPA's tasks but also available resources.
The main priorities in the Work Programme are driven by supervisory and regulatory convergence, enhancement of financial stability as well as promoting a leading role in terms of consumer protection.
In the regulatory field, additional work related to Solvency II is foreseen, both in terms of technical standards as well as guidelines, but a stronger emphasis will be put to the field of occupational pensions. Personal pensions represent an area where EIOPA will continue to work in 2014, with a clear focus on the consumer protection perspective.
Supervisory tasks will be further enhanced, specifically in the areas of joint on-site inspections, where EIOPA will enhance its capacity based on the experiences gained in the pilot exercises of 2013, and in the strengthening of the Centre of Expertise on Internal models. The work of colleges will remain a core priority for EIOPA, as well as the Supervisory handbook.
Consumers, and particularly those of financial products, are the most vulnerable participants in the market, and need to be actively protected. EIOPA‟s work in the area aims at making a tangible and positive difference in the field, promoting a market that is more consumer friendly, simple, transparent and fair.
In order to adequately fulfil its tasks, EIOPA will continue developing the organisation, resulting in an increase of its budget and staff. Being fully aware of the current economic and social environment, EIOPA is actively using redeployment of staff, prioritisation of tasks and efficient use of resources.
EIOPA‟s tasks, responsibilities and scope of action, are wide-ranging. It is therefore essential to make strategic choices in each of the different areas of work, and this Work Programme is the outcome of this decision making process. The current version of the Work Programme should be considered as preliminary.