Develop and execute a roadmap to meet rising regulatory and stakeholder expectations. Banks of all sizes are required to build sophisticated analytical risk management capabilities in compliance with Dodd-Frank and other legislation making a priority of optimizing the deployment of capital and infusing objectivity into its allocation.
The SEC & FINRA released their priorities for 2016 examinations. Asset management firms need to review + update their policies, procedures and business activities to reflect both sets of priorities so they can strengthen business practices and prepare for potential exams.
An industrial approach to risk and control self-assessmentsGrant Thornton LLP
Derive more value from your risk and control self-assessment process, and integrate your organization’s overall operational risk management process to comply with Dodd Frank and other legislation. We specialize in working with clients to help identify, remediate and resolve assessment gaps so they efficiently meet or exceed regulatory requirements.
CCAR & DFAST: How to incorporate stress testing into banking operations + str...Grant Thornton LLP
Banks are integrating elements of regulatory stress testing into their everyday business processes and strategic planning exercises, and optimizing enterprise risk management in the process. What does enterprise wide stress testing mean for a financial institution? What are the impacts and implications to a financial institution?
For private software deals, determining working capital can be tricky. Here, we will explain (from the seller’s perspective), the basics of the working capital adjustment; discuss some pitfalls; and takeaways.
Third Party Risk Management IntroductionNaveen Grover
On October 30, 2013 the Office of the Comptroller of the Currency (OCC) issued updated guidance on third-party risks and vendor management. The OCC's bulletin points out that its updated guidance replaces OCC Bulletin 2001-47, "Third-Party Relationships: Risk Management Principles," and OCC Advisory Letter 2000-9, "Third-Party Risk."
The SEC & FINRA released their priorities for 2016 examinations. Asset management firms need to review + update their policies, procedures and business activities to reflect both sets of priorities so they can strengthen business practices and prepare for potential exams.
An industrial approach to risk and control self-assessmentsGrant Thornton LLP
Derive more value from your risk and control self-assessment process, and integrate your organization’s overall operational risk management process to comply with Dodd Frank and other legislation. We specialize in working with clients to help identify, remediate and resolve assessment gaps so they efficiently meet or exceed regulatory requirements.
CCAR & DFAST: How to incorporate stress testing into banking operations + str...Grant Thornton LLP
Banks are integrating elements of regulatory stress testing into their everyday business processes and strategic planning exercises, and optimizing enterprise risk management in the process. What does enterprise wide stress testing mean for a financial institution? What are the impacts and implications to a financial institution?
For private software deals, determining working capital can be tricky. Here, we will explain (from the seller’s perspective), the basics of the working capital adjustment; discuss some pitfalls; and takeaways.
Third Party Risk Management IntroductionNaveen Grover
On October 30, 2013 the Office of the Comptroller of the Currency (OCC) issued updated guidance on third-party risks and vendor management. The OCC's bulletin points out that its updated guidance replaces OCC Bulletin 2001-47, "Third-Party Relationships: Risk Management Principles," and OCC Advisory Letter 2000-9, "Third-Party Risk."
Third-party Governance and Risk Management - 2018Deloitte UK
This report shows how Third-party Risk Management had continued to benefit from greater executive awareness in 2017 which have allowed organisations to tackle the topic with a renewed focus and investment. This is even more important due to amid prevalent threats of high profile business failure, illegal third-party actions, or regulatory action with punitive fines.
The role of audit committees continues to expand to keep pace with the modern business operating environment. In addition to responsibility for a company’s financial reporting and management, audit committees increasingly take an active role in an organization’s risk management strategy.
Audit committees can be instrumental in helping their organizations implement procedures to address the challenges they face. They can also assist with addressing internal and external audit findings or with exploring best practices for addressing areas of operations that may be vulnerable to disruption or extraordinary risks.
Third Party Due Diligence - Know Your Third Party - EY IndiaErnst & Young
Third party due diligence, forensic data analytics and frequent compliance audits form the basis of a strong monitoring system. For more details, visit http://bit.ly/1RQuEGB.
Third-Party Risk Management: Implementing a StrategyNICSA
Two Part Series: Part I of II
Third-Party Risk Management: Implementing a Strategy
Sleep Better at Night: Learn techniques to manage risks associated with third-party relationships.
Banks brace for risk data aggregation and reportingMarkit
The world's largest banks face major challenges in implementing the Basel Committee's demanding new principles for risk data aggregation. These new principles could see banks spending much more on new governance in an effort to meet the January 2016 deadline.
Analyzing Financial Projections as Part of the ESOP Fiduciary Process | Appra...Mercer Capital
In recent years there has been increasing concern among ESOP sponsors and professional advisors (trustees, TPAs, business appraisers, legal counsel) regarding the scrutiny of the DOL, the Employee Benefits Security Administration (“EBSA”), and the Internal Revenue Service (“IRS”). These entities (and agencies thereof) are tasked with ensuring that ESOPs comply with the Employee Retirement Income Security Act (“ERISA”) as well as with various provisions of the federal income tax code concerning qualified retirement plans (including ESOPs). Citing concerns for poor quality and inconsistency in business appraisals, the DOL has sought in recent years to expand the meaning of “fiduciary” under ERISA to include business appraisers. In the most recent forums of exchange and deriving from various court actions, there are numerous areas of concern that DOL/EBSA appear to have regarding ESOP valuations.
This paper focuses on the use of financial projections in ESOP valuations. The use (or misuse) of financial projections is often the most direct cause of over- or under-valuation in ESOPs.
PhRMA Report 2012: Medicines in Development for ChildrenPhRMA
America’s biopharmaceutical companies are researching 316 medicines to help meet the unique health care needs of children and adolescents. Considerable progress in the fight against diseases that impact children has been achieved in recent decades, with medicines playing a key role.
Ecosystems are the "natural capital" of our economy and our world, providing valuable goods and services, but as consumption grows along with populations and their spending power, many ecosystems are struggling to keep pace.
Third-party Governance and Risk Management - 2018Deloitte UK
This report shows how Third-party Risk Management had continued to benefit from greater executive awareness in 2017 which have allowed organisations to tackle the topic with a renewed focus and investment. This is even more important due to amid prevalent threats of high profile business failure, illegal third-party actions, or regulatory action with punitive fines.
The role of audit committees continues to expand to keep pace with the modern business operating environment. In addition to responsibility for a company’s financial reporting and management, audit committees increasingly take an active role in an organization’s risk management strategy.
Audit committees can be instrumental in helping their organizations implement procedures to address the challenges they face. They can also assist with addressing internal and external audit findings or with exploring best practices for addressing areas of operations that may be vulnerable to disruption or extraordinary risks.
Third Party Due Diligence - Know Your Third Party - EY IndiaErnst & Young
Third party due diligence, forensic data analytics and frequent compliance audits form the basis of a strong monitoring system. For more details, visit http://bit.ly/1RQuEGB.
Third-Party Risk Management: Implementing a StrategyNICSA
Two Part Series: Part I of II
Third-Party Risk Management: Implementing a Strategy
Sleep Better at Night: Learn techniques to manage risks associated with third-party relationships.
Banks brace for risk data aggregation and reportingMarkit
The world's largest banks face major challenges in implementing the Basel Committee's demanding new principles for risk data aggregation. These new principles could see banks spending much more on new governance in an effort to meet the January 2016 deadline.
Analyzing Financial Projections as Part of the ESOP Fiduciary Process | Appra...Mercer Capital
In recent years there has been increasing concern among ESOP sponsors and professional advisors (trustees, TPAs, business appraisers, legal counsel) regarding the scrutiny of the DOL, the Employee Benefits Security Administration (“EBSA”), and the Internal Revenue Service (“IRS”). These entities (and agencies thereof) are tasked with ensuring that ESOPs comply with the Employee Retirement Income Security Act (“ERISA”) as well as with various provisions of the federal income tax code concerning qualified retirement plans (including ESOPs). Citing concerns for poor quality and inconsistency in business appraisals, the DOL has sought in recent years to expand the meaning of “fiduciary” under ERISA to include business appraisers. In the most recent forums of exchange and deriving from various court actions, there are numerous areas of concern that DOL/EBSA appear to have regarding ESOP valuations.
This paper focuses on the use of financial projections in ESOP valuations. The use (or misuse) of financial projections is often the most direct cause of over- or under-valuation in ESOPs.
PhRMA Report 2012: Medicines in Development for ChildrenPhRMA
America’s biopharmaceutical companies are researching 316 medicines to help meet the unique health care needs of children and adolescents. Considerable progress in the fight against diseases that impact children has been achieved in recent decades, with medicines playing a key role.
Ecosystems are the "natural capital" of our economy and our world, providing valuable goods and services, but as consumption grows along with populations and their spending power, many ecosystems are struggling to keep pace.
Agile concepts for quality and process engineers for slideshareYuval Yeret
Excerpt from a session introducing agile concepts for a group of quality engineers in a big enterprise undergoing an agile transition.
The aim was to expose Quality/Process engineers to the concepts of agility and emphasize the impact on process/methodology development, the approach of evolution vs big design up front and its impact on their work. I used a lot of the classic agile examples (a lot of them by Henrik Kniberg) and adjusted for the development of methodology, to show that actually the agile approach should be discovered using an agile process.
Also covers some complexity thinking aspects.
And of course - this is not limited to methodology for IT/product development, but to many kinds of change management.
Don't Believe the Hype, Keywords Aren't Dead!David Black
Every time we turn around, there's another alarmist trying to fill our heads with the idea that keywords have no place in modern Internet Marketing. But, keywords always have, and always will be the cornerstone of any search marketing campaign.
Don't be part of the herd! Learn why keywords are still important, how to conduct keyword research and how to implement your keywords.
This webinar is designed for the beginner-immediate and will help you:
1. Develop and optimize your keyword targeting strategy
2. Use software in the execution of your strategy.
3. See which keywords your competitors target.
4. Implement your keywords naturally.
5. Measure your results.
Comparison of Public Workers Salaries in New YorkJohn Citibois
Who would you think earns more money in the State of New York, an professional engineer or a superintendent of Public Works? And who would pay more money, a small city or a state agency?
At Tuenti, we do 3 code pushes per week, sometimes modifying thousands of files and running thousands of automated tests and build operations before, to ensure not only that the code works but also that proper localization is applied, bundles are generated and files get deployed to hundreds of servers as fast and reliable as possible.
We use opensource tools like Mercurial, MySQL, Jenkins, Selenium, PHPUnit and Rsync among our own in-house ones, and have different development, testing, staging and production environments.
We had to fight with problems like statics bundling and versioning, syntax errors and of course the fact that we have +100 engineers working on the codebase, merging and releasing more than a 15 branches the same day. We also switched from Subversion to Mercurial to obtain more flexibility and faster branching operations.
With this talk we will explain the process of how code changes in ourcode repository end up in live code, detailing some practices and tips that we apply, problems we had and how we solved them.
DIYDays - Working with a Creative Technologistheidihysell
These slides were a part of a presentation given at DIYDays Conference on March 3rd in NYC at The New School. Most of the participants at the conference were story tellers and were interested in how to better work with technology to tell a story. Our goal was to help them know when in a project to start to work with a technologist, what to expect and where to find them.
Verittas Risk Advisors, Inc - Overview of CapabilitiesGeorge Mark
Verittas Risk Advisors creates authentic business partnerships with financial institutions. The close working relationship between you and Verittas brings you industry expertise, hands-on experience of current financial services practice, and intimate ‘best practice’ knowledge.
Feeling pressure to build revenues, many banks are turning to new products. It's up to boards and management to drive the risk mitigation planning process.
Manage Fair Lending Regulatory Risk and Compliance Using Predict360's Integra...360factors
Are you initiating or revamping your Fair Lending risk and compliance process? Learn how Predict360's applications and collaborative content can simplify the management of regulatory risk and compliance. Begin your journey with us by requesting a demo: https://bit.ly/3Pgu62i
C-Suite’s Guide to Enterprise Risk Management and Emerging RisksAronson LLC
Significant opportunities remain for organizations to continue to strengthen their approaches to identifying and assessing key risks. This program will provide an overview of Enterprise Risk Management (ERM) best practices and current emerging risks that should be on your radar for 2018.
Watch the complete webinar here: https://aronsonllc.com/c-suites-guide-to-enterprise-risk-management-and-emerging-risks/?sf_data=all&_sft_insight-type=on-demand-webinar
Risk & Advisory Services: Quarterly Risk Advisor May 2016CBIZ, Inc.
This issue includes the following articles: 1) 3 Questions Every Board Needs to Ask About Enterprise Risks 2) 3 Ways to Improve Your Credit Card and Data Security 3) 5 Major Risks Construction Project Owners Face
Transcendent’sPortfolio Management & Analysis provides a complete solution to the risks associated with credit receivables. Using an in-house, proprietary system, the client receives a comprehensive set of reports with specific recommendations on all aspects of the portfolio. These reports feature highly sophisticated segmentation and analysis, akin to what is used in the world’s largest providers of financial services. In addition, to processing data into a variety of charts and graphs, Transcendent provides highlighted insights derived from the data and detailed action items.
An Analysis of Factors Influencing Customer Creditworthiness in the Banking S...Dr. Amarjeet Singh
This research is based on Bahraini bankers’ perception on the factors influencing customer creditworthiness in the banking sector of Kingdom of Bahrain. We consider that the research was done in the Kingdom of Bahrain which has a growing banking industry. To enhance the whole procedure of the creditworthiness, it is vital for an employer to understand the most important factors influencing customer creditworthiness. The purpose of the study was to investigate the factors influencing customers creditworthiness in the banking industry. The creditworthiness can be assessed through qualitative factors, quantitative factors and risk factors. The research was conducted through a survey, using the questionnaire as the research instrument. The respondents of the study are employees of banks across the Kingdom dealing with creditworthiness. The statistical tools used in the study are Multiple Regression Analyses and weighted mean. The researcher has found that there is significant relationship between all three factors and creditworthiness, and they don’t equally influence the creditworthiness. The research provides recommendations to banks in assessing the creditworthiness. The researcher recommended that employees must use the most effective methods such as credit scoring to conduct the analysis of creditworthiness in order to make effective decisions. Moreover, the researcher recommended that analysts should take into considerations the most effective factors in the analysis process and they must not neglect other.
Similar to Taking the road to advanced approaches and heightened standards in risk management (20)
GT Events and Program Guide is a look ahead at the latest knowledge and insights available from Grant Thornton LLP. It includes a collection of our research, thought leadership and a schedule of upcoming webcasts and events.
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GT Events & Program Guide: ForwardThinking October/November 2017Grant Thornton LLP
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Why prepare now? 5 things that smart businesses are doing TODAY to prepare fo...Grant Thornton LLP
Tax reform is top of mind for many of today’s businesses as they struggle to understand what it might mean to them, and what they should be doing to prepare. While it may be easy to be paralyzed by the uncertainty of the legislative process, a “wait-and-see” approach is a mistake. The prospect of tax reform creates tremendous new tax planning opportunities, and many of these are effective only if done before tax reform is enacted. No company should be making long-term business decisions without understanding how tax reform could affect the economic impact. Learn the five steps your business can take now to prepare for tax reform.
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DOL fiduciary rule: How it affects the insurance industry Grant Thornton LLP
We explore how the Department of Labor's final rule expanding the definition of fiduciary investment advice for advisers to retirement plans, participants and beneficiaries will affect the insurance industry.
Tightening pressure transforms the landscape: The state of asset managementGrant Thornton LLP
After years of growth, asset managers face a number of challenges. Here, we examine these challenges and provide insight into the state of the asset management industry.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
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The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
Taking the road to advanced approaches and heightened standards in risk management
1. Taking the road to advanced
approaches and heightened
standards in risk management
Evolution of higher standards
Over the past three decades, as information systems
and databases have developed and matured, there has
been an ever increasing expectation among regulators,
investors, rating agencies and other stakeholders that
risk management analytics advance as well. This trend
has only accelerated since the 2008 economic crisis.
Although the most exacting requirements apply to the
largest banks, institutions of all sizes are required to
build new analytical risk management capabilities of
unprecedented sophistication. These requirements align
with the goals of the risk management function to help
drive improved enterprise value.
Grant Thornton’s professionals can work with you to develop and execute a
roadmap to meet rising regulatory and stakeholder expectations.
References
[1] Office of the Comptroller of the Currency. “OCC Finalizes Its Heightened Standards for Large Financial Institutions,” September 2, 2014.
[2] Financial Accounting Standards Board. “Financial Instruments- Credit Losses (Subtopics 825-15),” December 20, 2012.
2. Taking the road to advanced approaches and heightened standards in risk management
Advanced practices requirements
Recent years have seen a dramatic increase in the
sensitivity of capital, risk management and loan
accounting requirements to measures of risk. Dodd-
Frank Act Stress Testing (DFAST) has made enterprise
-wide stress testing, an intrinsically quantitative exercise,
mandatory for banks with over $10 billion in assets.
Comprehensive Capital Analysis and Review (CCAR)
has made an even more quantitative version mandatory
for banks with over $50 billion in assets. Basel III
introduced a more risk-sensitive treatment of various
exposure categories in the standardized approach, and
required more robust and accurate internal models for
credit, market and operational risk in the advanced
approaches, generally applicable to banks with over
$250 billion in assets. Guidelines establishing
heightened standards from the Office of the
Comptroller of the Currency required that banks with
over $50 billion in assets incorporate quantitative limits
and stress-testing processes into risk appetite exercises.
The current expected credit loss (CECL) model from
the FASB requires a forecast of future expected losses
in calculating the allowance for loan and lease losses
(ALLL) rather than just recognizing already
incurred losses.
Keys to success with advanced practices
In order to comply with new requirements and
increase its value to the enterprise, the risk
management function needs to make a priority of
optimizing the deployment of capital and infusing
objectivity into its allocation.
Success begins with the recognition that it is in the
institution’s best interest to go well beyond checking
the box to satisfy specific regulatory obligations. In
order to work well, advanced approaches must be built
on a comprehensive and robust enterprise, credit,
market and operational risk program. They employ
increasingly advanced analytics and large quantities of
data. Favorable outcomes depend on recognizing that
an analysis or a model is simply a structured approach
to processing information. Data management and
systematic data exploitation are critical to facilitating the
speed, relevance and immediacy of risk management
processes. The availability of data from the compliance,
audit, finance, treasury, marketing and risk functions
enables a cross-functional integrated view of the
business and helps optimize decision-making. Tools
such as stress testing can be leveraged as opportunity
assessment tools — capable of producing insights and
risk and reward trade-offs.
How we can help
Grant Thornton LLP provides a full spectrum of
tailored services to assist financial institutions on the
road to greater risk management efficiency and value
added. We work closely with institutions to help
structure a risk management maturity assessment;
develop a target state roadmap; and manage the
planning, design and execution of an initiative to
enhance the function.
The Risk Center of Excellence within Financial Services
Advisory specializes in working with clients to identify,
remediate and resolve their risk management gaps so
they meet and/or exceed regulatory requirements, or
prepare for enhanced expectations.
Our risk management services
Grant Thornton offers insights and practical risk
management solutions tailored to all three lines of
defense (i.e., front line units, risk and compliance
functions, and internal audit). Our teams consist of
former financial services executives, regulators,
compliance officers and senior leaders who have served
in key risk management roles in financial services, and
bring experience working with institutions of all sizes.