How do you guys deal with unrealistic expectations being placed on you at work?
Our new CFO has started and he has been given a mandate to sort out the group solvency position. As our insurance company and group top company are incorporated in Gibraltar we have always used a local solvency expert to handle the relationship with the regulator and calculate / manage our solvency position. About 6 months ago I was made Solvency II Reporting Accountant and given the task of taking some of the workload away from our local managing agent. The idea is that I'll control the inputs to the solvency model and pre-populate as many of the fields as possible to ensure greater visibility of the Solvency position on our end. I don't have a Solvency II background, I'm very much an assistant in this regard with the goal was it was explained to me at the time to garner knowledge over time.
Its not been the best of transitions into the new role, the local Gibraltar expert is very much like a black hole in that correspondence gos in but not much comes out the other way. He is a nice guy and helpful when you do manage to get hold of him but he has a lot of other clients and cannot give us the attention we need. Anyway this last couple of weeks the poop has really hit the fan as there have been some real issues with assumptions that were being made in the Solvency model that I identified as incorrect and after fixing this we're in a bit of trouble with the regulator.
The new CFO wants me to create our own internal Solvency model we can use to check the work performed by the Gibraltar guy, I'm expected to do this. I have less than 6 months experience in Solvency, I've not read the 813 page guidance, I simply do not have the ability to do this. I have explained this, but nobody seems to care, I have told people that this is beyond me, its not something I can accomplish. This is the sort of thing you employ a Solvency II manager / expert to do, you'd pay them close to double my already generous salary... nobody cares, thats the expectation, do it.
If I had 3 months of savings I'd have walked out today, I'm up for giving almost anything a go, but the expectation here is so unrealistic and the task is daunting. I know for a fact that I can't do what is being asked of me, and nobody cares.
What the heck do I do?