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 West Brom, 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 developed an integrated and streamlined solution to loss forecasting to comply with IFRS 9 and facilitate stress testing. What’s more, the framework has also been used as the foundation to support the society’s projected growth and any subsequent regulatory requirements.
To add additional value, Jaywing’s consultants worked in partnership with The West Brom to share their IFRS 9 experience and impairment forecasting knowledge throughout the engagement.
“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.”
West Bromwich Building Society’s Director of IRB
