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The West Brom

How we helped The West Brom with IFRS 9 and stress testing


One of the biggest challenges faced by building societies today is implementing a solution to IFRS 9 that is proportionate to the size of the lender.

Achieving this, and developing best practice regulatory models is a core requirement for The Society, that’s why they chose to partner with Jaywing who has extensive experience in the design and build of IFRS 9, IRB and other regulatory models.  


Through Jaywing’s flexible approach, The West Brom is developing an integrated and streamlined solution to loss forecasting to comply with IFRS 9 and facilitate stress testing. What’s more, the framework will also be used as the foundation to support The Society’s projected growth and any subsequent regulatory requirements.

To add additional value, Jaywing’s consultants will work in partnership with The West Brom in order to share their IFRS 9 experience and impairment forecasting knowledge throughout the engagement.

West Bromwich Building Society’s Director of IRB said: “IFRS 9 is demanding significant change, with the need for more sophisticated models to be developed which enable the assessment of expected credit losses under a wide range of economic scenarios. We appointed Jaywing to help us meet this challenge due to their extensive expertise in regulatory modelling requirements and their ability to develop flexible and integrated approaches to regulatory requirements.”

Jaywing will continue to work with The West Brom throughout IFRS 9 beyond the model build phase to ensure successful parallel run and readiness for IFRS 9 go-live in 2018.

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