Select brand and identity projects for a New York City-based consulting firm that specializes in structured finance, investment banking and investment management.

1. portfolio > Linda C. Modica
Art Director | Brand Specialist | Graphic Designer
2-10 Black Swan Consulting
2/ Leading Fixed Income Specialist (front) 3/ Leading Fixed Income Specialist (back) 4/ Basel III (front) 5/ Basel III (back)
6/ Due Dilligence, Independent Valuation Basel III (front) 7/ Inforgraphic study from Basel III
8/ Infographic (detailed view) from Independent Valuation 9/ Event signage table cloth 10/ Business card + identity
graphic design
INVESTMENT
BANKING FINANCIAL / CORPORATE
BRAND IDENTITY
BASEL III
SECURITIZATION
FRAMEWORK SUPPORT
With the introduction of the Simplified
Supervisory Formula Approach (SSFA)
and the continued use of the gross-up approach,
institutions have the ability to choose how to calculate
the risk weighting of securitization exposures. Based
on our experience, the SSFA approach results in lower
capital charge on senior, well-capitalized tranches
compared to the gross-up approach. In order to use
the SSFA, however, institutions must have access to
the appropriate deal and loan-level data as well as
the necessary expertise to carry out the calculation.
Aaron Wong | Aaron.Wong@BlackSwanConsultingGroup.com
Kristen Verberkmoes | Kristen.Verberkmoes@BlackSwanConsultingGroup.com
Please visit us at: www.BlackSwanConsultingGroup.com Our telephone number is (917) 338-2380
Inquiries related to our products
and services can be directed to
Bank regulators have finalized adoption of
the revised Basel III capital framework and have
set forth due diligence requirements with respect
to private label securitizations (e.g., ABS, MBS,
CDOs) and structured credit derivatives. In addition
to broadening the definition of securitization
exposures, the adopted rules remove the ratings-
based approach found in Basel II with respect to
calculating the capital charge to comply with the
Dodd-Frank Act.
SSFAGross-Up
Loan-level
Collateral Performance
Detailed Capital Structure
Funded Reserve Accounts
Capital Charge of
Underlying Assets
Exposure to Tranche
Amount of Senior Tranche(s)
Amortized Cost of Exposure
Risk Weight of
Underlying Assets
Basel III SSFA_v4.indd 1 9/12/14 12:30 PM
INVESTMENT
DUE
DILIGENCE
Our investment due diligence process is completely
independent. We are focused on the needs of fiduciaries to
guard against fraud and conflicts of interest. Black Swan is
not affiliated with any managers, products, funds or advisors.
We believe in the inherent benefits of understanding
manager performance. The goal of our process is to identify
and validate sound investment programs. In a dynamic
environment, it is critical to analyze and understand
investment style as well as risk management procedures.
Black Swan Consulting is an independent
advisory firm dedicated to meeting the complex
and mission critical needs of financial institutions.
We develop our solutions and services around a
team-based approach that capitalizes on the
expertise of our specialists.
Benefits of Investment Due Diligence:
• Strengthen working relationship with
managers and trustees
• Identifying sound investment programs
and practices
• Identifying competent trustees
• Deeper understanding of investment
decisions and performance
• Validation of investment policy adherence
Aaron Wong | Aaron.Wong@BlackSwanConsultingGroup.com
Kristen Verberkmoes | Kristen.Verberkmoes@BlackSwanConsultingGroup.com
Please visit us at: www.BlackSwanConsultingGroup.com Our telephone number is (917) 338-2380
Inquiries related to our products
and services can be directed to
Capital Markets
Underwriting
Trading
Investment Management
Valuation
Risk Management
Surveillance
Accounting
Auditing
Legal Compliance
Regulatory Compliance
Legal Case Review
Technology Development
Cash Flow Analytics
Performance Surveillance
Data Visualization
Multi-
Disciplinary
Approach
• Asset Backed
Securities
• Residential MBS
• Commercial MBS
• Agency MBS
• Municipal Bonds
• Collateralized Loan
Obligations
Leading
Fixed income
SpeciaLiSt
Black Swan Consulting was founded in 2008 at the height of the
financial crisis to provide product expertise to financial institutions.
Our clients include institutions of all types and sizes, including:
We have extensive capital markets experience and are well-versed in
regulatory and accounting issues. Through the integration of capital
markets expertise with best-in-class analytics we deliver the best
possible services and solutions to our clients.
Our team is uniquely experienced in analyzing complex transactions
and structured financial products. We are adept at modeling credit
and whole-loan portfolios and complex structured finance products.
expert,
independent
advice
product
expertise
• Collateralized Debt
Obligations
• Pooled Trust Preferred
Securities
• Credit Portfolios
• Covered Bonds
• Interest Rate Derivatives
• Credit Derivatives
Black swan consulting is a certified minority-
owned enterprise and small business.
www.BlackSwanConsultingGroup.com
Black Swan Consulting is dedicated
to providing the highest caliber indepen-
dent advice and solutions. We are not a
broker-dealer, asset manager or financial
products seller. Our goal is to provide
clients the best possible expertise. Our capital
markets specialists draw upon years of
sell-side and buy-side industry experience
to give our clients a competitive edge in the
marketplace. We take a focused approach in
working with clients to ensure that our solutions
are cost-effective while adhering to best practices.
Banks Insurance companies Credit unions
Asset managersHedge funds Broker-dealers
Issuers Fund administrators Financial regulators
About Black Swan_v4.indd 1 4/8/14 10:31 AM

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Investment
Due
DIlIgence
Our investment due diligence process is completely
independent. We are focused on the needs of fiduciaries to
guard against fraud and conflicts of interest. Black Swan is
not affiliated with any managers, products, funds or advisors.
We believe in the inherent benefits of understanding
manager performance. The goal of our process is to identify
and validate sound investment programs. In a dynamic
environment, it is critical to analyze and understand
investment style as well as risk management procedures.
Black Swan Consulting is an independent
advisory firm dedicated to meeting the complex
and mission critical needs of financial institutions.
We develop our solutions and services around a
team-based approach that capitalizes on the
expertise of our specialists.
Benefits of Investment Due Diligence:
• Strengthen working relationship with
managers and trustees
• Identifying sound investment programs
and practices
• Identifying competent trustees
• Deeper understanding of investment
decisions and performance
• Validation of investment policy adherence
Aaron Wong | Aaron.Wong@BlackSwanConsultingGroup.com
Kristen Verberkmoes | Kristen.Verberkmoes@BlackSwanConsultingGroup.com
Please visit us at: www.BlackSwanConsultingGroup.com Our telephone number is (917) 338-2380
Inquiries related to our products
and services can be directed to
Capital Markets
Underwriting
Trading
Investment Management
Valuation
Risk Management
Surveillance
Accounting
Auditing
Legal Compliance
Regulatory Compliance
Legal Case Review
Technology Development
Cash Flow Analytics
Performance Surveillance
Data Visualization
Multi-
Disciplinary
Approach
Investment Due Diligence_v5_press.indd 1 4/1/13 4:49 PM
BASEL III
SECURITIZATION
FRAMEWORK SUPPORT
With the introduction of the Simplified
Supervisory Formula Approach (SSFA)
and the continued use of the gross-up approach,
institutions have the ability to choose how to calculate
the risk weighting of securitization exposures. Based
on our experience, the SSFA approach results in lower
capital charge on senior, well-capitalized tranches
compared to the gross-up approach. In order to use
the SSFA, however, institutions must have access to
the appropriate deal and loan-level data as well as
the necessary expertise to carry out the calculation.
Aaron Wong | Aaron.Wong@BlackSwanConsultingGroup.com
Kristen Verberkmoes | Kristen.Verberkmoes@BlackSwanConsultingGroup.com
Please visit us at: www.BlackSwanConsultingGroup.com Our telephone number is (917) 338-2380
Inquiries related to our products
and services can be directed to
Bank regulators have finalized adoption of
the revised Basel III capital framework and have
set forth due diligence requirements with respect
to private label securitizations (e.g., ABS, MBS,
CDOs) and structured credit derivatives. In addition
to broadening the definition of securitization
exposures, the adopted rules remove the ratings-
based approach found in Basel II with respect to
calculating the capital charge to comply with the
Dodd-Frank Act.
SSFAGross-Up
Loan-level
Collateral Performance
Detailed Capital Structure
Funded Reserve Accounts
Capital Charge of
Underlying Assets
Exposure to Tranche
Amount of Senior Tranche(s)
Amortized Cost of Exposure
Risk Weight of
Underlying Assets
Basel III SSFA_v4.indd 1 9/12/14 12:30 PM
Aaron Wong | Aaron.Wong@BlackSwanConsultingGroup.com
Kristen Verberkmoes | Kristen.Verberkmoes@BlackSwanConsultingGroup.com
Please visit us at: www.BlackSwanConsultingGroup.com Our telephone number is (917) 338-2380
Inquiries related to our products
and services can be directed to
Independent
valuatIon
We currently offer valuations on a variety of
fixed income products, including:Recent codification of Fair Value Measurements and
Disclosures promotes use of valuation models for
inactive and disorderly markets. Our valuation framework
utilizes a granular credit approach and is designed for
transparency, consistency, and regulatory compliance.
By incorporating model-based valuations into their
surveillance process, investment managers can assess
whether market prices are consistent with performance.
Benefits of our valuation methodologies
• Complies with industry-specific accounting rules
• Utilizes multiple independent credit
assessments of underlying collateral
• Incorporates review of all relevant transaction
documents
• Produces results that are useful in determining
other-than-temporary impairment
• Measures tail-risk and option values
• Produces reliable and consistent results
• Independent Level 3 inputs to project and
value future cash flows
We can design and implement valuation frameworks
for all fixed income product types.
Black Swan Consulting is an independent advisory firm specializing
in fixed income markets. Our team of product specialists is dedicated
to assisting financial institutions manage risk and to comply with regu-
latory requirements. Our services range from comprehensive portfolio
reviews to providing independent valuations that meet industry-specific
accounting rules with respect to fair value and impairment.
Collateralized
debt obligations
(aBS Cdos, Clos,
CRe Cdos, eM Cdos,
Synthetic Cdos, and
trupS Cdos)
Residential
mortgage-
backed
securities
Commercial
mortgage-
backed
securities
asset-
backed
securities
Independent Valuation_v3a.indd 1 3/4/14 11:12 AM

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DUE
DILIGENCE
PROCESS
Black Swan uses both quantitative
and qualitative analysis to evaluate investment
programs. Using quantitative methods we
focus on the contributing factors behind overall
returns and to assess the investment manager’s
ability to outperform benchmarks. The qualitative
component allows us to reach a subjective
decision about the ability of managers to produce
attractive returns over multiple market cycles.
Quantitative Measures:
• Benchmarking
• Performance ratio
• Expense ratio
• Absolute returns
• Tracking error
• Leading/lagging trends
• Trading effectiveness
• Conflicts of interest
Qualitative Measures:
• Cost-benefit analysis
• Adherence to covenants
• Appropriateness of asset pricing
• Adherence to fiduciary responsibilities
• Custodian/trustee accountability
Please visit us at: www.BlackSwanConsultingGroup.com Our telephone number is (917) 338-2380
Investment Documentation
Regulatory Compliance
Performance
01
Preliminary
Assessment
Strategy
Portfolio Composition
Investment Decision Process
Risk Management Process
02
Quantitative
and Qualitative
Analysis
Organization and Staffing
Key Personnel and Expertise
Systems and Tools
Risk Reporting and Internal
Controls
03
Operational
Review
Performance Track Records
Custodian
Brokerage
Accountants and Auditors
Legal and Compliance
04
External
Validation
Key Personnel
Risk Managers
Compliance Officers
Trustees
05
Background
Check
Organization and Staffing Changes
Performance Updates
Regulatory Updates
Market Changes
06
Ongoing
Monitoring
mpletely
f fiduciaries to
Black Swan is
unds or advisors.
tanding
ess is to identify
a dynamic
erstand
procedures.
dependent
complex
institutions.
around a
on the
Benefits of Investment Due Diligence:
• Strengthen working relationship with
managers and trustees
• Identifying sound investment programs
and practices
• Identifying competent trustees
• Deeper understanding of investment
decisions and performance
• Validation of investment policy adherence
Aaron Wong | Aaron.Wong@BlackSwanConsultingGroup.com
Kristen Verberkmoes | Kristen.Verberkmoes@BlackSwanConsultingGroup.com
ingGroup.com Our telephone number is (917) 338-2380
Capital Markets
Underwriting
Trading
Investment Management
Valuation
Risk Management
Surveillance
Accounting
Auditing
Legal Compliance
Regulatory Compliance
Legal Case Review
Technology Development
Cash Flow Analytics
Performance Surveillance
Data Visualization
Multi-
Disciplinary
Approach
DUE
DILIGENCE
PROCESS
Black Swan uses both quantitative
and qualitative analysis to evaluate investment
programs. Using quantitative methods we
focus on the contributing factors behind overall
returns and to assess the investment manager’s
ability to outperform benchmarks. The qualitative
component allows us to reach a subjective
decision about the ability of managers to produce
attractive returns over multiple market cycles.
Quantitative Measures:
• Benchmarking
• Performance ratio
• Expense ratio
• Absolute returns
• Tracking error
• Leading/lagging trends
• Trading effectiveness
• Conflicts of interest
Qualitative Measures:
• Cost-benefit analysis
• Adherence to covenants
• Appropriateness of asset pricing
• Adherence to fiduciary responsibilities
• Custodian/trustee accountability
Aaron Wong | Aaron.Wong@BlackSwanConsultingGroup.com
Kristen Verberkmoes | Kristen.Verberkmoes@BlackSwanConsultingGroup.com
Please visit us at: www.BlackSwanConsultingGroup.com Our telephone number is (917) 338-2380
Inquiries related to our products
and services can be directed to
Investment Documentation
Regulatory Compliance
Performance
01
Preliminary
Assessment
Strategy
Portfolio Composition
Investment Decision Process
Risk Management Process
02
Quantitative
and Qualitative
Analysis
Organization and Staffing
Key Personnel and Expertise
Systems and Tools
Risk Reporting and Internal
Controls
03
Operational
Review
Performance Track Records
Custodian
Brokerage
Accountants and Auditors
Legal and Compliance
04
External
Validation
Key Personnel
Risk Managers
Compliance Officers
Trustees
05
Background
Check
Organization and Staffing Changes
Performance Updates
Regulatory Updates
Market Changes
06
Ongoing
Monitoring
Investment Due Diligence_v5_press.indd 2 4/1/13 4:49 PM
INVESTMENT
DUE
DILIGENCE
Our investment due diligence process is completely
independent. We are focused on the needs of fiduciaries to
guard against fraud and conflicts of interest. Black Swan is
not affiliated with any managers, products, funds or advisors.
We believe in the inherent benefits of understanding
manager performance. The goal of our process is to identify
and validate sound investment programs. In a dynamic
environment, it is critical to analyze and understand
investment style as well as risk management procedures.
Black Swan Consulting is an independent
advisory firm dedicated to meeting the complex
and mission critical needs of financial institutions.
We develop our solutions and services around a
team-based approach that capitalizes on the
expertise of our specialists.
Benefits of Investment Due Diligence:
• Strengthen working relationship with
managers and trustees
• Identifying sound investment programs
and practices
• Identifying competent trustees
• Deeper understanding of investment
decisions and performance
• Validation of investment policy adherence
Aaron Wong | Aaron.Wong@BlackSwanConsultingGroup.com
Kristen Verberkmoes | Kristen.Verberkmoes@BlackSwanConsultingGroup.com
Please visit us at: www.BlackSwanConsultingGroup.com Our telephone number is (917) 338-2380
Inquiries related to our products
and services can be directed to
Capital Markets
Underwriting
Trading
Investment Management
Valuation
Risk Management
Surveillance
Accounting
Auditing
Legal Compliance
Regulatory Compliance
Legal Case Review
Technology Development
Cash Flow Analytics
Performance Surveillance
Data Visualization
Multi-
Disciplinary
Approach
Investment Due Diligence_v5_press.indd 1 4/1/13 4:49 PM

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