The Nottingham looks ahead to IFRS 9 implementation and adopts a best practice analytical framework by partnering with Jaywing
Today, credit risk analytics expert Jaywing announced a new partnership with leading building society The Nottingham, to design an analytical framework that will underpin all operational, strategic and regulatory credit risk requirements, including IFRS 9. Implementing IFRS 9 is a key requirement for The Nottingham, that’s why they chose to partner with Jaywing who has extensive experience in the design and build of IFRS 9 impairment models.
One of the biggest current challenges faced by lenders is implementing the forthcoming IFRS 9 requirements. Through Jaywing’s flexible consultation approach, The Nottingham will be able to develop an integrated approach to implementing IFRS 9 along with other regulatory and operational risk objectives. The new framework will enable The Nottingham to develop a streamlined approach to credit risk management to help contain the cost of meeting these regulatory, operational and strategic challenges.
Colin Pendred, Senior Credit Risk Manager, The Nottingham, said: “The new analytical framework will improve regulatory processes and reduce operational costs while ensuring a robust and best practice approach to IFRS 9 implementation. We chose Jaywing due to their unrivalled experience in credit risk analytics and IFRS 9, as well as following on from a successful engagement on a previous project a few years ago.”
Ben O’Brien, Managing Director, Jaywing, said: “We are looking forward to continuing to work with The Nottingham and we are pleased we’ve been able to demonstrate our offering for IFRS 9 through the flexibility of our consultancy approach and our software solution, Horizon. We understand the importance for The Nottingham 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.
To find out more visitrisk.jaywing.com