04 · The work

One scenario, one firm, traced end to end to the board minute.

Each phase produces artefacts that move the firm from analysis to defensible decision. The framework runs sequentially, in parallel, or as standalone engagements. Most firms commission Phase 1 or Phase 2 first. Every engagement opens with the same question: whose name goes on it? Where no one will put their name to a link, that is a finding in itself, and SS5/25 expects the allocation to exist.

The proximate objective, for every engagement: by your next ORSA cycle, one material scenario traced end to end with a named owner at every link of the chain. Near enough to see. Far enough to matter.

PHASE 1
Diagnostic

Your chain traced end to end through the functions that must act on it, read against SS5/25. The undertaking: a documented list of the points where your chain breaks, traceable to SS5/25 paragraphs, whether or not you take it further.

6 weeks · fixed fee
PHASE 2
Materiality Calibration

Assumptions stress-tested against current loss data. Quantitative thresholds tied to risk appetite at the levels SS5/25 requires, documented to the standard that allows effective challenge.

3 to 5 weeks
PHASE 3
Underwriting Integration

Direct work with underwriting teams to integrate the climate signal into existing process. Design, not training. The engine room of the work.

4 to 8 weeks
PHASE 4
Capital and Governance Linkage

Bridging scenario outputs, ORSA conclusions and reinsurance programme design. Board reporting redesigned to present trade-offs, not summaries.

3 to 6 weeks
PHASE 5
Embed and Sustain

Internal capability transfer, naming who owns each piece, including a board session so that challenge can be evidenced, not assumed. At handover, the firm owns the chain. What recurs is the cycle: once a year, the chain re-traced against the refreshed scenario, and I test that it still holds.

2 to 4 weeks
How the engagement runs
The delivery model
One accountable counterparty for the whole chain
YOUR FIRM
board · CRO · CFO
↔ ONE CONTRACT ↔
↔ ONE RECORD ↔
in the form the dialogue will examine
NERINA WRIGHT
NKR ADVISORY
accountable for the whole chain
COMMISSIONED · VETTED · CHALLENGED
under NKR direction · credentials provided for vetting
Specialist
Specialist
Specialist
Platform
Accountability stays in one place.

One contract with NKR. Specialist work commissioned under my direction, credentials provided for vetting, output challenged before it reaches you. Every piece lands in one record, in the form the dialogue will examine. Where the firm runs a single platform, the record sits there; where it does not, I provide one. Accountability sits with one person, in one place.

Three structures, each scoped in writing
Scoped Advisory

A defined project of three to eight weeks focused on a specific phase, most often Phase 1 or Phase 2, now that the internal-review window has closed and the existing assessment must hold up in supervisory dialogue — including independent vetting of technical work commissioned from third parties.

Fixed fee
Embedded Fractional Support

Senior-level support of two to three days per week across multiple phases, most often where Phases 3 and 4 run in parallel, or where the firm wants ongoing translation work between scenario refreshes.

Day rate or retainer
Strategic Advisory

Light-touch support for board, CRO, or NED-level decision-making: board papers, board briefings, supervisory engagement, capital provider conversations.

Retainer
Where to start
Start with the diagnostic. Six weeks. Fixed fee. In writing.

Within six weeks of engagement you will hold a documented list of the points where your chain breaks, traceable to SS5/25 paragraphs, whether or not you take it further. The deliverable stands on its own, and it makes the next step obvious, or shows you that you do not need one.