Paragon Bank partnered with Jaywing to design an analytical framework with the potential to enhance the profitability of the business through greater capital efficiency and improved risk management controls.
Through a flexible approach, the team has designed an approach to create a successful IRB waiver application programme. This means 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, Paragon Bank, says: “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”
