|Paragon selects Jaywing to increase their credit risk modelling capability and achieve advanced IRB|
|Tuesday, 14 March 2017|
Credit risk analytics expert Jaywing has partnered with specialist lender and banking group, The Paragon Group of Companies PLC, to design an analytical framework with the potential to enhance the profitability of the business through greater capital efficiency and improved risk management controls.
It’s increasingly difficult for lenders to keep pace with capital developments, and regulators have great ambitions to raise the bar on risk management. Compliance with IRB requires considerable internal resources and is often extremely complex, that’s why firms often turn to specialist consulting firms with vast experience in this area.
Jaywing has worked with Paragon across a variety of risk modelling projects in the past, most recently providing oversight on the development of IFRS 9 models. So they asked if we could help.
Through a flexible consultation approach, Jaywing has designed an approach to augment the skills and experience that Paragon need to complement internal resources and create a successful IRB waiver application programme. Paragon will be able to develop and increase their credit risk modelling capability along with other regulatory and operational risk objectives.
Julian Knight, IRB Director, said; “The achievement of IRB status, with its enhanced approach to risk management and consequential commercial benefits is one of the Group’s key medium term strategic goals. We have selected Jaywing to support the IRB programme because of their extensive knowledge and experience in this area and their commitment to work with Paragon to embed this capability within the risk management function across the organisation”
Ben O’Brien, Managing Director, Jaywing, said: “We are delighted to continue to work with Paragon. We understand the importance for Paragon of being able to achieve an integrated framework, as lenders today are looking for a cost effective way of remaining compliant with multiple regulations.”
Jaywing has extensive experience in credit risk analytics and IFRS 9 gained over the last 17 years’ helping many lenders including Shawbrook Bank, Nationwide, RBS and Coventry Building Society with IFRS 9, IRB, stress testing, ICAAP, credit grading and a variety of other risk requirements.
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.
The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.
This Risk News section is currently available for sponsorship.
Please click here to contact us about our site sponsorship opportunities.
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.
Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.
GTS Media Ltd
81 Cambridge Road
Registered in England No: 05483197