Change in CECL Approved by the FDIC

The Federal Deposit Insurance Corporation (FDIC) approved a measure that will allow a three-year phase in of the impact of CECL on regulatory capital yesterday (12/18/18). This change will also delay the impact on bank stress tests until 2020.  The change does not...

IFRS 17: Killing Two Birds

Time is ticking for the 450 insurers around the world to comply with the International Financial Reporting Standard 17 (IFRS 17) by January 1, 2021 for companies with their financial year starting on January 1. Insurers are at different stages of preparation, ranging...

Data as a Service (DaaS) – The Benefits

Let’s start with a succinct summary of the benefits of DaaS. Data as a Service (DaaS) is one way to consistently deliver and effectively manage data from multiple sources across the firm, both internal and external. It can be used as one “logical” and centralized,...

Data as a Service (DaaS) Solution – Described

Data as a Service (DaaS) can be used to provide a single source of authoritative (or golden) data for use in a firm’s critical applications. Here, a logical layer of the data (often in-memory for quick access) can serve up data that has been verified, defined, and...

Data Management – The Challenges

Does your company suffer the challenges from data silos? Dessa Glasser, Principal with the Financial Risk Group, who assists Virtual Clarity on data solutions as an Associate, discusses the challenges of data management in our second post for our blog series. In our...

Data Is Big, Did You Know?

Data is big. Big news. Big importance. How big, you ask? Consider that all the information we have as the human race has been growing since the beginning of time. At the same time, we are enacting more processes every day that add to this growing data, whether on a...