Today, NAG announced the launch of NAG® FRTB Regulatory Change Services at the annual RiskMinds conference in Barcelona, where Satinder Jandu, Executive Vice President of Financial Services at NAG is presenting 'Delivering ESG and Climate Change', a talk on accelerating climate change delivery based on what we learned from implementing foundational change such as FRTB.
"On the 1st of January 2023, global Financial Review of the Trading Book (FRTB) regulations will begin being enforced, bringing about the most far-reaching changes to banking since 2008," said Jandu. "We are proud to announce the launch of NAG® FRTB Regulatory Change Services, which combine our knowledge of financial change management and our decades of robust industrial tool development to help banks minimise capital requirements and use these regulations to gain competitive advantages."
The NAG® FRTB Regulatory Change Services cover four distinct areas, including:
Data Sourcing – NAG helps banks take advantage of lower capital requirements by reviewing and building processes to pass compliance tests, monitoring against the Market Risk Frameworks, and aligning the Front Office and Risk Engine across disparate systems using strategic sources.
Model Governance – NAG helps banks with FRTB Readiness whilst keeping the majority of key resources focussed on the core business by performing an independent review of a bank's FRTB readiness and helping to build evidence-based reporting for Internal Audit and FRTB regulatory applications.
Target Operating Model – NAG provides best practices across systems, including expert advice on Internal Model Eligibility, Desk-level Capital Calculation, Book Boundary processes and handling the computational/storage demands of FRTB.
Regulatory Change & Management – NAG looks holistically at regulatory changes whilst considering individual banks' needs for additional changes, providing full scope and expert advice on the best way to implement FRTB into the organisation.
NAG provides industry-leading numerical software and technical services to banking and finance, energy, engineering, and market research, as well as academic and government institutions. World renowned for the NAG® Library - the most rigorous and robust collection of numerical algorithms available - NAG also offers Automatic Differentiation, Machine Learning, and Mathematical Optimization products, as well as world-class technical consultancy across HPC and Cloud HPC, code porting and optimisation, and other areas of numerical computing. Founded more than 50 years ago from a multi-university venture, NAG is headquartered in Oxford, UK with offices in the UK, US, EU and Asia.
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