Leveraging centralized IT for multijurisdictional regulatory reporting and internal decision-making
The Middle East region offers unparalleled growth opportunities for banks – as well as presenting them with some particularly tough risk management and regulatory reporting challenges . Moody ’ s Analytics currently serves more than 130 financial institutions regionally , with its market standard enterprise risk , professional services , training & certification and credit research solutions .
The company has now been helping customers in the Middle East and North Africa region to deliver and maintain Basel compliance for more than twenty years .
Moody ’ s Analytics is a strategically important partner to Bank ABC , with a relationship that spans over a decade . It has helped Bank ABC to meet evolving regulatory reporting requirements from multiple regulators , using a centrally deployed technology architecture that serves users in various locations . The Basel reporting requirements cover credit , market , operational , and liquidity risks .
“ The Moody ’ s Analytics centralized architecture helps Bank ABC deliver gains in efficiency and optimize operational costs .”
- Stuart Rennie , Group Head of IT , Bank ABC
Corporate credit assessment and underwriting are key areas of focus . The Moody ’ s Analytics approach allows financial institutions to embed financial spreading and risk rating within their credit workflow processing , for maximum efficiency gains together with reduced operational costs .
IFRS 9 compliance More recently , many Middle East banks have embarked upon their IFRS 9 journey to meet the revised accounting standard on expected credit losses . IFRS 9 projects require significant data for modeling purposes , and computational power for the calculation of lifetime credit losses . Moody ’ s Analytics augments banks ’ internal data with extensive credit risk and macroeconomic data to assist in compliance with the new standard , supporting the automation and workflow of expected credit loss calculations and disclosure reporting .
To maximize the return on investment in its technology , Moody ’ s Analytics provides customized training programs to assist banks in unifying their credit culture across the enterprise . The program ensures that staff are equipped to make optimal use of technology , providing them with the appropriate skills for their roles .
This program evolves with policy and underwriting changes . In addition to enabling banks to meet regulators ’ requests in a timely and comprehensive fashion , the IT infrastructure and training implemented by Moody ’ s Analytics supports internal decision-making processes . In pursuit of this objective , Moody ’ s Analytics works closely with its customers ’ senior management to align the programs with each bank ’ s policies and risk appetite framework .
To learn more , please contact us at mena @ moodys . com