Vice Chair, IAIS Executive Committee Executive Director, Insurance Supervision , Bank of England , United Kingdom
Charlotte Gerken has been Executive Director for Insurance Supervision within the Bank of England’s Prudential Regulation Authority since January 2020. She is responsible for the supervision of over 500 insurers active in the UK, including Lloyd’s managing agents and branches. Charlotte also chairs the PRA’s principal executive committee for prudential decisions on banking and insurance supervision, policy and risk issues.
Charlotte’s previous role was Director for insurance and cross-sector policy in the Bank’s Prudential Policy Directorate. In this role she was responsible for developing guidance on UK-specific implementation of Solvency II regulation for insurers; and for policy that affects both banks and insurers. These areas included accounting and the capital framework; governance and individual accountability; developing the PRA’s approach to operational resilience; and reporting and disclosure.
From 2012-18 Charlotte led risk specialist functions, with responsibility for the delivery of analysis of the annual concurrent stress test of the UK banking systems, and development of the Bank’s stress testing approach. Prior to that Charlotte undertook a number of supervisory roles for banks, investment banks and insurers, and spent her early career focussing on credit risk in commercial banking.