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Ben O'Brien, Managing Director

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Ben O'Brien

Managing Director

Find out more about how Shawbrook Bank is tackling IFRS 9 compliance in this latest blog.

I am delighted to share that 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 forecasting and capital requirements 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.

My team at Jaywing have already 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.

What's more, our approach is completely bespoke to Shawbrook Bank, because we appreciate that 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. Moreover, our 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.

The team 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 IFRS 9 go-live in 2018.

To find out more about how we help leading lenders like Shawbrook Bank achieve IFRS 9 compliance, please download a copy of our IFRS 9 best practice whitepaper or visit our IFRS 9 solutions page.

You may also be interested in our new IFRS 9 software solution, which you can find more about here.