The Credit Risk Modeling department of De Volksbank faced a challenge: how to implement new regulations, including the new definition of default that form the basis of credit risk models. Having to execute the PD modeling process and the LGD modeling process simultaneously convinced the bank they needed help. “That help came in the form of someone who was ‘one of the few’ able to do both LGD and PD components.”
Switzerland’s Swiss Re is the world’s second largest provider of reinsurance and insurance-related risk products. Traditionally the company insures events that can lead to huge losses, such as natural disasters. Two years ago, this reinsurer decided to further strengthen its payment processes.
After taking a long hard look at its treasury function, Accell Group took the plunge by investing in a treasury management system (TMS) and improving bank connectivity with a payment hub solution. So how exactly did the European market leader in bicycles achieve these goals?
International Financial Reporting Standard 9 (IFRS 9) was announced in 2014 by the International Accounting Standards Board (IASB) as the successor to IAS 39. As of 1 January 2018, this comes into mandatory effect for financial and non-financial organizations. According to Paul Buijze, director of finance and mid-office at FMO, the Dutch development bank, IFRS 9 impacts “almost all processes and systems.” So how is this atypical Dutch bank preparing itself for the new IFRS 9 regulation?
As a maritime multinational, Boskalis is involved in large scale projects all over the world. Due to the complexity of these projects, the Treasury department has a strategic role within the company and is a role model for other multinationals.