CHL Mortgages and Jaywing agree on IFRS 9 partnership

Credit risk specialist Jaywing has announced a new engagement to develop an IFRS 9 model monitoring solution to mortgage provider, CHL Mortgages. Jaywing’s IFRS 9 model monitoring will cover a range of CHL’s residential and Buy-to-Let (BTL) products.

Jaywing began work on the project by providing independent model validation to CHL. It has now also developed a bespoke monitoring suite, which provides an up-to-date view of model performance. Jaywing’s solution has now been fully implemented for CHL’s impairment calculations under IFRS 9.

Kuan Ang, Head of Finance at CHL Mortgages, said: “We chose Jaywing because they understood our specific business challenges. Jaywing quickly integrated with our teams to deliver IFRS 9 compliant monitoring, MI and validation, all on time and to budget.”

Nevan McBride, Risk Practice Director at Jaywing, said: “We were delighted to be selected by CHL to help them achieve their IFRS 9 goals. We immediately deployed a team of experts who not only delivered against the project requirements, but went above and beyond scope by providing additional insight and industry knowledge. We have established many long-term relationships with our clients through consistently delivering value across a range of areas in risk and more, and look forward to the opportunity to forge a similar partnership with CHL.”