Over the coming years, risk and finance functions face an ongoing challenge to implement and update regulatory frameworks. The granularity, frequency, and widening scope of regulatory reporting is increasing the demand on technology infrastructure. Hosted architectures built on legacy systems ease that demand but do not provide a sustainable, scalable, high-quality solution. Thus, banks of all sizes are moving to a software-as-a-service (SaaS) approach: Regulatory Compliance as a Service (RCaaS). This option not only reduces costs but also provides superior levels of service and availability.

Topics covered: 

NEW YORK, April 14, 2020 – Moody’s Analytics announced today that its small business loan application and lending portal will be made available for free to all lenders seeking to expedite the processing of loans under the CARES Act Paycheck Protection Program (PPP). The portal captures the requisite loan application information from borrowers and generates a risk and compliance assessment to expedite the review process. 

“Lenders are facing unprecedented challenges in processing the volume of PPP applications and need a solution that is ready now,” said Steve Tulenko, President of Moody’s Analytics. “Our online portal helps banks onboard new customers, where the underwriting process tends to be more resource intensive.”

Many borrowers seeking urgent financial relief do not have an existing business banking relationship, and may face delays when submitting their application as a result.  Lenders need an efficient way to receive loan...

As modeling requirements grow and insurers’ models become more complex, there is a greater recognition of the operational risks involved in the actuarial modeling process. A key driver for insurers updating their modeling frameworks has been the need to implement evolving regulations and standards such as IFRS 17.Insurers must put appropriate model controls and governance in place to reduce opportunities for errors in the modeling process.

Increasing demands on the actuarial function mean that modeling teams must review their processes to identify how best to meet both higher productivity and tighter controls. In this paper, we will look at some of the key areas actuarial functions are examining to help address these pressures and challenges. We will also explore some of the opportunities in these areas that can both add value to and increase efficiency of the actuarial modeling process.

Read "Getting More from Your Actuarial Modeling" to learn...

Ruth Moore, Associate Director, Advisory Services at Moody’s Analytics discusses key considerations for insurers when implementing their discount curve approach for IFRS 17.For more information on Moody’s Analytics Discount Curve Service for IFRS 17, please visit: https://bit.ly/3bQuNsD © 2020 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.

Join us for a webinar on Wednesday, April 8 at 1 PM ET to discuss the impact of COVID-19 on the US CRE Retail sector.The ramifications of coronavirus on CRE have evolved quickly, and the already troubled brick-and-mortar retail sector has been second in line after hotels to feel the severe pain. Nationwide social distancing measures have closed stores and decimated brick-and-mortar retail sales. It is very uncertain how long the untenable negative impact will continue, and the possible paths to recovery are unclear and grim. As tenants and landlords hash out lease and rent negotiations, much ultimately hinges on temporary government relief. What does a likely path to recovery look like in the retail sector performance data? After the peak of the COVID-19 outbreak is past, what will a retail recovery look like?

Victor Calanog of Moody’s Analytics looks back at market responses for past catastrophic events (including earthquakes, hurricanes and terrorists attacks) to derive insight on the future of Multifamily supply and demand, given the coronavirus (COVID-19) pandemic.

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Moody’s Analytics has designed a specific project methodology and accelerators for IFRS 17 projects, using our extensive experience with more than 100 implementation projects for Solvency II, actuarial systems, other regulatory regimes, and accounting standards such as Current Expected Credit Loss (CECL) or IFRS 9. In this episode, the topics explored include:

The out-of-the-box solution with no required customization

Advantages of the new and improved deployment approach to streamline the implementation process

Moody’s Analytics project accelerators

Speakers:

Moderator: Alexandre Merigay, Senior Director – Insurance, Moody’s Analytics Natalia Orzechowska, Director – Insurance Customer Engagement, Moody’s Analytics Massimiliano Neri, Ph.D., Director – IFRS 17, Moody’s Analytics

IFRS 17 is still developing, and system capabilities continue to advance and adapt along with the new accounting standard. An effective, quick implementation does not always require you to check all the boxes to kickstart work. In this episode, the topics explored include:

Getting started with the data available for requirements mapping and an early testing phase

Identifying the right project team and kickstarting planning

Familiarizing your end users with the chosen tool and completing the full spectrum of process testing

Speakers:

Moderator: Alexandre Merigay, Senior Director – Insurance, Moody’s Analytics Natalia Orzechowska, Director – Insurance Customer Engagement, Moody’s Analytics Ismaliana Ismail, Senior Consultant-Life, Actuarial Partners Muhammad Syazwan Mahathir, Consultant-Life, Actuarial Partners

Actuaries, accountants, and IT must work together to drive IFRS 17 software implementation. The essential participants are business users from the accounting and actuarial departments. They ultimate owners of the project, and are the ones who must gain knowledge of the system and become familiar with the processes.

Topics explored include:

Accountants, actuaries, and IT working together across silos

The involvement necessary from the actuarial and accounting teams

Transitioning from on-premises to SaaS

Moving the work focus from IT implementation to business decisions

The risks associated with indifferent business users

How to get buy-in from business users

Speakers:

Moderator: Alexandre Merigay, Senior Director – Insurance, Moody’s Analytics Natalia Orzechowska, Director – Insurance Customer Engagement, Moody’s Analytics Tracy Lister FIA FASSA CERA, Associate Director, QED

Reviewing available data, its granularity, and source systems cannot start after choosing an IFRS 17 vendor. This first step is vendor agnostic and must precede the software decision.

Topics explored include:

Reviewing a client’s data granularity and mobility from the source system for the IFRS 17 standards (vendor agnostic)

The risks associated with the lack of data readiness

Steps to ensure success:

Creating a data mapping exercise for the appropriate teams

Scheduling data milestones for data readiness

Transforming data and performing pre-processing

Speakers:

Moderator: Alexandre Merigay, Senior Director – Insurance, Moody’s Analytics Natalia Orzechowska, Director – Insurance Customer Engagement, Moody’s Analytics Shoaib Shaikh, Senior Manager, Deloitte 

LONDON, February 25, 2020 – Moody’s Analytics, a global provider of financial intelligence, today announced that its software has been selected by Kommunal Landspensjonskasse Mutual Insurance Company (KLP), one of Norway’s largest life insurance companies. KLP will use the Moody’s Analytics RiskIntegrity™ for IFRS 17 solution to address the new IFRS 17 accounting framework for insurance contracts.

Designed to support the needs of actuaries, finance, and IT professionals, the RiskIntegrity solution for IFRS 17 comes with all the capabilities required for an efficient implementation of the accounting standard. Available as a software-as-a-service solution, it integrates seamlessly with an insurer’s existing infrastructure, connecting data, models, systems, and processes between actuarial and finance functions. “The RiskIntegrity solution for IFRS 17, combined with Moody’s Analytics expertise in this area, will enable KLP to confidently meet the new financial...