Jaywing and One Savings announce risk partnership

One Savings Bank has announced that it has appointed Jaywing as independent risk model validation partner, as it embarks on its IRB programme

Credit risk analytics experts, Jaywing, announces that it has partnered with specialist lender One Savings Bank within its second line function, to independently review and challenge its models, with the first task being the rating system as part of its IRB programme.

Nicholas Hurst, Deputy Chief Risk Officer at One Savings Bank, said “It was vital we selected a partner with a strong track record in credit risk analytics and which boasted impressive modelling capabilities. This is why we put potential vendors through a rigorous selection process. We were quickly struck by the level of Jaywing’s expertise and the success of its models in ensuring adherence to regulatory requirements and managing model risk effectively. We’re really looking forward to working with Jaywing on our IRB programme, which is a vital strategic project for us”.

Nevan McBride, Risk Practice Director, Jaywing, added: “We are delighted to be selected by One Savings Bank, especially following the rigorous vendor selection process. It was important that One Savings Bank choose a qualified partner with the technical and regulatory modelling expertise and an ability to place a forensic eye across a range of model types. We are delighted to have exemplified these attributes and look forward to performing our role as independent model validation partners to help the bank achieve their goal of becoming IRB compliant.”