CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow Jaywing supports Shawbrook Bank to achieve value beyond IFRS 9 compliance
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
Jaywing supports Shawbrook Bank to achieve value beyond IFRS 9 compliance PDF Print E-mail
Wednesday, 27 July 2016
Credit risk analytics expert, Jaywing, was appointed by Shawbrook Bank at the start of the year to support it through the build of a comprehensive credit risk modelling programme that will underpin credit management, impairment forecast and capital requirement including stress testing and ICAAP.

This integrated approach to risk modelling will incorporate an IFRS 9 solution. Following Jaywing’s completion of an extensive project design phase, detailed requirements and proposed methodologies have been mapped out for each of the bank’s five portfolios.

Jaywing has begun to develop a suite of models to achieve Credit Grading and, IFRS 9 objectives to ensure that the IFRS 9 guidelines are met well ahead of the implementation deadline on 1st January 2018.

Jaywing’s approach is completely bespoke to Shawbrook Bank, because every organisation has unique credit grading and IFRS 9 impairment forecasting requirements as defined by their data, legacy models and system infrastructure, as well as their business operations. Jaywing’s consultants are working in partnership with the bank in order to share their IFRS 9 experience and impairment forecasting knowledge with the bank’s analysts throughout the engagement.

Edward Huang, Head of Risk and Portfolio Analytics, at Shawbrook Bank, said: “As a challenger bank, Shawbrook has a unique advantage of developing an integrated and streamlined credit grading and forward-looking forecasting system to enable consistent credit decisions, capital sufficiency assessment, IFRS 9 impairment forecast and business planning. What made Jaywing stand apart is their partnership engagement approach, their practical experience in risk modelling and loss forecasting, their flexibility and adaptability, and ultimately their commitment to timely delivering the solutions within budget to help the bank achieve its strategies including IFRS9 compliance. Jaywing is a valuable addition to the in-house analytic capacities.”

Ben O’Brien, Managing Director, Jaywing, added: “While the requirement to assess expected credit losses may present a challenge to many lenders, Shawbrook Bank had the broad foundations in place on which to build a compliant solution. Crucially, by engaging with Jaywing, the bank can be sure that the regulator’s demands and timescales will be met, while at the same time the bank will have more time to develop in-house analytic capacities.”

Jaywing will continue to work with Shawbrook Bank throughout IFRS 9 beyond the model build phase to ensure successful parallel run in 2017 and readiness for IFRS9 live in 2018.
 
CCRI
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas
CCRI 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards

Awards 

Tuesday 3 October - Guoman Tower Hotel, Central London


Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.


To book your place to attend, please contact Alison Lucas.


subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197