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# FRG

Analyze Risk Differently.

## Sitemaps

- [XML Sitemap](https://www.frgrisk.com/sitemap.xml): Contains all public & indexable URLs for this website.

## Posts

- [Blog](https://www.frgrisk.com/blog/) - Explore financial risk resources such as credit risk (CECL), economic scenarios, market risk, climate risk, earnings at risk, and more with FRG expert insights.
- [To The Left, To The Left](https://www.frgrisk.com/to-the-left-to-the-left/) - In risk measurement we are always looking for the smartest way to predict how things will go. That often involves a trade-off between accuracy and speed and cost. However, AI techniques such as Generative Adversarial Networks (GANs) and its variations can provide at least the two first at the same time.
- [Might Does Not Make (the Only) Right](https://www.frgrisk.com/might-does-not-make-the-only-right/) - At a time when it seems bigger always equals better, community-focused credit unions remind us that steady and local still matters. The Risk Report looks at the unique risks they navigate and why doing the basics well is their real edge.
- [Can I Put You On Hold?](https://www.frgrisk.com/can-i-put-you-on-hold/) - What does “almost out” really mean when prices are volatile and timing matters? This example about running out of heating oil is a reminder that if you have no buffer left, waiting for a better price is a gamble you may not get to make.
- [Deus Ex Collaborationis](https://www.frgrisk.com/deus-ex-collaborationis/) - Collaboration, not replacement: AI works best when humans stay in the loop. This week’s Risk Report explores why there’s no “God in the machine,” just tools that still depend on human strategy, context, and experience.
- [The Intelligence-Driven Risk Platform](https://www.frgrisk.com/the-intelligence-driven-risk-platform/) - FRG's intelligence-driven risk platform is the next level of what FRG has always done: solving risk issues faster.
- [AI Magic!](https://www.frgrisk.com/ai-magic/) - When it comes to trusting results from agentic AI, “almost right isn’t good enough.” This week’s Risk Report explains why domain expertise is still necessary to trust #AI answers.
- [Cyber Risk Is Financial Risk](https://www.frgrisk.com/cyber-risk-is-financial-risk/) - A recent Fed paper examines how technological vulnerabilities amplify systemic Cyber Risk. Read this week’s Risk Report for more on how “cyber villains be villaining” throughout tightly interconnected financial institutions.
- [Raters of the Private Assets](https://www.frgrisk.com/raters-of-the-private-assets/) - This week’s Risk Report explores how growing reliance on Private Letter Ratings is raising concerns from the BIS, IMF, and SEC around transparency, objectivity, and potential undercapitalization.
- [Renaissance Jeans](https://www.frgrisk.com/renaissance-jeans/) - Like last season’s jeans, everything old is new again—including the “refreshed” Basel III proposal from US bank regulators. This week’s Risk Report explains how much money could be put to work across the banking system, and what the banks might do with it.
- [Fraud or Risk?](https://www.frgrisk.com/fraud-or-risk/) - “If you see one cockroach, there are probably more.” That’s what Jamie Dimon said about private credit, and the comment rings more uncomfortably true than ever. This week’s Risk Report explains.
- [Please, Release Me, Let Me Go](https://www.frgrisk.com/please-release-me-let-me-go/) - Private credit has long promised higher returns in exchange for higher risk. But what happens when investors want out—and the exit isn’t so simple? Read The Risk Report for details of one fund’s experience with private credit redemptions.
- [No, But Also, Yes](https://www.frgrisk.com/no-but-also-yes/) - This week we break down the stablecoin debate, explore why banks are uneasy, and explain why many institutions are quietly building in this space themselves.
- [Trypophobia](https://www.frgrisk.com/trypophobia/) - There’s a word for the fear of bubbles: trypophobia—and it turns out to be surprisingly relevant to today’s markets. The Risk Report explains.
- [Will That Be Credit?](https://www.frgrisk.com/will-that-be-credit/) - An announced annual 10% cap on US credit card interest rates aims to make credit more affordable, but banks warn it could restrict access for higher-risk borrowers.
- [Feeling Less at Home](https://www.frgrisk.com/feeling-less-at-home/) - A year after the LA fires, housing stress persists. Our latest Risk Report examines what distorted data and affordability gaps mean for financial institutions.
- [(Im)Perfect Crime](https://www.frgrisk.com/imperfect-crime/) - The Tricolor case shows how loan data integrity failures can drive fraud risk and instability across private credit and non-bank finance. Read more in The Risk Report.
- [Overly Restrictive](https://www.frgrisk.com/overly-restrictive/) - Bank regulators are rolling back leveraged lending guidance after admitting the post-GFC framework may have gone too far. Read The Risk Report for more about why Team Regulator is loosening the grip.
- [The End of the BINO](https://www.frgrisk.com/the-end-of-the-bino/) - What really makes a bank a bank? Read the latest edition of The Risk Report to see how the definition of a bank is shifting.
- [Creative Destruction](https://www.frgrisk.com/creative-destruction/) - Great technological innovation can come with great risk, especially when it devalues what we already have. Read more about this dynamic in The Risk Report.
- [Glow-Up Gold](https://www.frgrisk.com/glow-up-gold/) - Gold might not be your asset of choice, but it just got a glow-up. Read more about it in The Risk Report.
- [Reducing Model Risk Using Coding Standards](https://www.frgrisk.com/reducing-model-risk-using-coding-standards/) - In our MATHS blog series, the ‘S’ stands for Standardized. Coding standards aren’t just rules on paper. Read the blog to learn how standards help reduce risk.
- [Cars Before Underwear](https://www.frgrisk.com/cars-before-underwear/) - When credit risk is transferred away from banks, it gets more difficult to see early warning signs. Read about it in The Risk Report.
- [Reducing Model Risk by Honing Code](https://www.frgrisk.com/reducing-model-risk-by-honing-code/) - Honing your code takes it from “functional” to completely suitable. That’s why the “H” in our MATHS blog series about coding best practices stands for “Honed.”
- [Circles of Risk](https://www.frgrisk.com/circles-of-risk/) - Synthetic risk transfers are on the rise in banking. Read more about them in The Risk Report.
- [Reducing Model Risk with Testing](https://www.frgrisk.com/reducing-model-risk-with-testing/) - One of the biggest sources of model risk is poorly written code. Our latest blog in the MATHS series shows how testing your code can help you reduce model risk.
- [Bank Regulation Is Just Right!](https://www.frgrisk.com/bank-regulation-is-just-right/) - There seems to be a lull in bank regulation, but that is not the same as saying it should be discarded altogether. Read more about in The Risk Report.
- [Model Risk Management Through Archiving](https://www.frgrisk.com/model-risk-management-through-archiving/) - Reduce model risk with version control. See how archiving code improves usage of valid code, readability, and collaboration while decreasing model risk.
- [A Rare Glimpse of Systemic Risk](https://www.frgrisk.com/a-rare-glimpse-of-systemic-risk/) - Systemic risk is a rare occurrence--some will say too rare to warrant attention. A new paper from ECB proves otherwise. Read more about it in The Risk Report.
- [Reducing Model Risk through Modular Programming](https://www.frgrisk.com/reducing-model-risk-through-modular-programming/) - Learn how modular programming reduces model risk in model development. Discover the benefits of modularized code through FRG’s MATHS best practices framework.
- [Model Risk Management: Reduce your Model Risk through Coding Best Practices](https://www.frgrisk.com/model-risk-management-reduce-your-model-risk-through-coding-best-practices/) - Learn best practices for reducing model risk in code development. FRG’s MATHS framework strengthens Model Risk Management and accelerates model building.
- [Same Buffer, Different Take](https://www.frgrisk.com/same-buffer-different-take/) - Different countries and their bank regulators have different takes on whether the largest banks should hold more capital because they pose a bigger systemic risk. Read more about it in The Risk Report.
- [The Banks Were Good Again](https://www.frgrisk.com/the-banks-were-good-again/) - The latest federal stress test results show that an economic stress scenario will economically stress businesses, consumers, and those who provide them with credit even if the credit providers are well-capitalized. Read more about in The Risk Report.
- [Return-Tinted Glasses](https://www.frgrisk.com/return-tinted-glasses/) - Coming soon to a retirement account near you: private assets! Read more about the risks in The Risk Report.
- [Gold!](https://www.frgrisk.com/gold/) - Gold has had a renaissance as a safe haven asset. The Risk Report looks at the reasons why.
- [Data Matters](https://www.frgrisk.com/data-matters/) - A world without data is almost impossible to imagine. So, it is concerning when data itself is at risk. Data matters. Read more about it in The Risk Report.
- [Annoying Context](https://www.frgrisk.com/annoying-context/) - Rising long-term interest rates on government bonds could mean anything unless it is put in context. Read more about in The Risk Report.
- [A Harbinger of Risk to Come](https://www.frgrisk.com/a-harbinger-of-risk-to-come/) - Foregoing global bank regulation means neither no regulation nor no risk. The Risk Report explains why and what’s on the horizon.
- [It’s Not That Easy to AI](https://www.frgrisk.com/its-not-that-easy-to-ai/) - Some banks are having difficulty leveraging AI technology. Read about why and what to do about it in The Risk Report.
- [Welcome to Oil Club](https://www.frgrisk.com/welcome-to-oil-club/) - With inflation and recession fears on the rise, one would think that falling oil prices would be a ray of sunshine. The Risk Report looks at what might be shading that.
- [Shrinking Carrot,  Flailing Stick](https://www.frgrisk.com/shrinking-carrot-flailing-stick/) - No one wants to be hit with the stick of a trade war, but the motivational effect of the threat might be short as the appeal of the carrot shrinks. The Risk Report looks at the reasons why.
- [The Yellow Speech  or the Green Speech?](https://www.frgrisk.com/the-yellow-speech-or-the-green-speech/) - Everyone is concerned about stagflation, but even worse than that is not knowing whether it is coming or not. Read more about in The Risk Report.
- [BCBS vs. BNM: Comparative Analysis of Treatment of Individual Exposures](https://www.frgrisk.com/bcbs-vs-bnm-comparative-analysis-of-treatment-of-individual-exposures/) - Bank Negara Malaysia (BNM) introduces localized modifications to Basel global standards to reflect the unique characteristics of the Malaysian financial system. Read our post to compare differences in the treatment of individual exposures under the Capital Adequacy Framework between BCBS standards and BNM requirements.
- [Private Equity: Why the Anticipated Boom Didn’t Materialize](https://www.frgrisk.com/private-equity-why-the-anticipated-boom-didnt-materialize/) - The private equity space was hoping for a big deals boom in 2025, but reality has brought more uncertainty. Our new blog post explains.
- [The Nature of News](https://www.frgrisk.com/the-nature-of-news/) - You may need a break from global finance and risk news. Get that from The Risk Report.
- [First I Was Afraid, I Was Petrified](https://www.frgrisk.com/first-i-was-afraid-i-was-petrified/) - In the (disco) light of recent events, Europe is now finding ways to grow economically strong on its own. Read more about it in The Risk Report.
- [Shall We Swap Caterpillars?](https://www.frgrisk.com/shall-we-swap-caterpillars/) - One way of steadying a bank’s net interest income is through caterpillar (structural) hedging. Read more about how that works in The Risk Report.
- [Regretful Readiness](https://www.frgrisk.com/regretful-readiness/) - Canada’s financial supervisory authority, OSFI, just released its annual risk outlook and it’s not all happy moose and maple syrup. Read our take on it in The Risk Report.
- [Dunkelflaute](https://www.frgrisk.com/dunkelflaute/) - More extreme weather means more volatility in energy markets. Luckily, there’s a new AI for that. Read more about it in The Risk Report.
- [European Banks: Less Rizz*, More Value](https://www.frgrisk.com/european-banks-less-rizz-more-value/) - Without making big headlines, European banks have outperformed the top technology stocks by just going about their business. Read about it in The Risk Report.
- [Harry Potter and The Oligopolistic  Market Structure Channel](https://www.frgrisk.com/harry-potter-and-the-oligopolistic-market-structure-channel/) - It's not that risk in the form of volatility is getting less severe or frequent; rather that it's faster to come and go. AI could be a reason for that. Read more about in The Risk Report.
- [Delayed](https://www.frgrisk.com/delayed/) - The Basel III endgame is meeting more of an end than game. The Risk Report looks at whether stopping now will have a material impact.
- [Show Your Work](https://www.frgrisk.com/show-your-work/) - A recent lawsuit has shifted the balance of scrutiny in the annual Dodd-Frank Act Stress Testing (DFAST). Find out more in The Risk Report.
- [So Close and Yet So Tariffs Away](https://www.frgrisk.com/so-close-and-yet-so-tariffs-away/) - It is not clear that tariffs will do the US economy any good, and they will almost certainly harm our trading partners. Read more about it in The Risk Report.
- [Yes, Unfortunately](https://www.frgrisk.com/yes-unfortunately/) - Even while the L.A. wildfires still burn the long road to recovery begins with insurance claims and mortgage payments. Read more about it in The Risk Report.
- [Beyond Stress](https://www.frgrisk.com/beyond-stress/) - The L.A. wildfires are beyond any stress scenario, not because fires are unexpected in California, but because these are so massive they break the framework for scenarios.
- [Where or When](https://www.frgrisk.com/where-or-when/) - Predicting the future? Easier said than done. As the Fed cuts rates again and with inflation not quite on track yet, the dot-plot offers a glimpse of what's next. Read more in The Risk Report.
- [We Should Have Seen This Coming?](https://www.frgrisk.com/we-should-have-seen-this-coming/) - The NY Fed got its hands on 158 years of bank data and there is a lot to learn from that. Read more about it in The Risk Report.
- [Agree Now, Pay Later](https://www.frgrisk.com/agree-now-pay-later/) - COP29: Getting everyone on the same page is difficult when the only thing they agree on is disagreeing with the plan. Read more about COP29 and climate risk scenarios in The Risk Report.
- [Feeling Vulnerable?](https://www.frgrisk.com/feeling-vulnerable/) - Turbulent times can leave anyone feeling a little raw, and banks are no exception. Read more about it in The Risk Report.
- [Navigating Basel 3.1 Standards for Market Risk: Choosing Between ASA vs. IMA Approaches](https://www.frgrisk.com/basel-3-1-market-risk-standards-asa-vs-ima/) - Navigate Basel 3.1 Standards for Market Risk: a guide for UK banks on choosing ASA vs IMA. Explore key factors and expert insights, and learn how FRG and SAS simplify market risk compliance.
- [Putting the Sure in Insured](https://www.frgrisk.com/putting-the-sure-in-insured/) - Recent news out of Oklahoma reminds us again that when banks fail, it matters—a lot—if their deposits are insured. Read more about it in The Risk Report.
- [Taking PCF a Step Further: Pacing Optimization](https://www.frgrisk.com/pacing-optimizer-for-pcf/) - Learn how FRG’s Pacing Optimizer helps asset managers to strategically manage the commitment of private asset investments.
- [The Model Development Lifecycle (MDLC): Model Decommission](https://www.frgrisk.com/the-model-development-lifecycle-mdlc-model-decommission/) - Even accurate financial models will eventually become ineffective or unnecessary. The final step in the Model Development Lifecycle is to decommission the model.
- [Zero Elasticity](https://www.frgrisk.com/zero-elasticity/) - Since last year’s bank upset, Team Regulator has (again) been concerned about the sufficiency of bank reserves. Now a new metric from the Fed shows they are plenty. Read more about it in The Risk Report.
- [The Model Development Lifecycle (MDLC): Model Implementation and Review](https://www.frgrisk.com/the-model-development-lifecycle-mdlc-model-implementation-and-review/) - Model Implementation and Review are important steps in the Model Development Lifecycle that help financial institutions reduce model risk.
- [Good News, Eh!](https://www.frgrisk.com/good-news-eh/) - Who couldn’t use a glimmer of good news? Well, this week The Risk Report has some!
- [The Model Development Lifecycle (MDLC): Model Validation](https://www.frgrisk.com/the-model-development-lifecycle-mdlc-model-validation/) - Learn how model validation can help your financial institution reduce its model risk.
- [Very Not Great](https://www.frgrisk.com/very-not-great/) - The metrics we have traditionally used to predict impact are at best (and in the truest sense) average. Read more about it in The Risk Report.
- [The Model Development Lifecycle (MDLC): Building and Testing the Model](https://www.frgrisk.com/the-model-development-lifecycle-mdlc-building-and-testing-the-model/) - The goal of the model development stage of the model development cycle is to find a sound model that best predicts an outcome based on the data provided.
- [Same Time, Elsewhere](https://www.frgrisk.com/same-time-elsewhere/) - While the US economy and monetary policy have a huge impact on the rest of the world, other countries are also having their own experience of the global economic conditions. Read more about it in The Risk Report.
- [The Model Development Lifecycle (MDLC): Data Assessment](https://www.frgrisk.com/model-development-lifecycle-mdlc-data-assessment/) - Learn why a robust data assessment in the model development lifecycle will help your financial institution build high-quality models.
- [How to Dismantle Two Economic Bombs](https://www.frgrisk.com/how-to-dismantle-two-economic-bombs/) - The Fed has begun walking the proverbial tightrope between unemployment and inflation. Read more about it in The Risk Report.
- [The Model Development Lifecycle (MDLC): Defining the Business and Model Objectives](https://www.frgrisk.com/the-model-development-lifecycle-defining-the-business-and-model-objectives/) - Understand why defining the business and model objectives are the first steps to starting the model development lifecycle.
- [I’m Sorry for What I Said When I Was Worried About Systemic Risk](https://www.frgrisk.com/im-sorry-for-what-i-said-when-i-was-worried-about-systemic-risk/) - US bank regulators plan to dial down almost all the proposed changes to capital requirements after the banks’ pushback. Read more about it in The Risk Report.
- [Expected & Probable Walk into the Same Bar?](https://www.frgrisk.com/expected-probable-walk-into-the-same-bar/) - The CECL accounting rules were supposed to flag expected credit losses earlier, but with the trouble in commercial real estate, some question if the rules work as intended. Read more about it in The Risk Report.
- [What is the Model Development Lifecycle, or, What’s Baking at FRG?](https://www.frgrisk.com/what-is-the-model-development-lifecycle-or-whats-baking-at-frg/) - What is the Model Development Lifecycle? Learn how the stages of the model development lifecycle can indicate where sources of model risk can reside.
- [Sharing is Caring](https://www.frgrisk.com/sharing-is-caring/) - There is a growing trend in banks sharing the risk of high-emission clients with private credit managers. Read more about the wins and not-so-wins of these arrangements in The Risk Report.
- [Situationships](https://www.frgrisk.com/situationships/) - Relationships change over time, and sometimes in ways where old truths are no longer true. That seems to have happened to USD and the prices of gold and oil. Read more about what that means in The Risk Report.
- [Squirrel!](https://www.frgrisk.com/squirrel/) - Minsky theorized that a longer period of debt-financed growth could lead to a collapse in asset values. Read more in The Risk Report.
- [Stick the Soft Landing](https://www.frgrisk.com/stick-the-soft-landing/) - Last week’s stock market turbulence shows how perceptions can get the better of facts. Read more about the rollercoaster ride on The Risk Report.
- [Old(er), Underserved, and Not That Smart](https://www.frgrisk.com/older-underserved-and-not-that-smart/) - The US power grid keeps being strained by weather events such as Hurricane Beryl. Read more about why that is in The Risk Report
- [In Their Swings Era](https://www.frgrisk.com/in-their-swings-era/) - The story of the banks’ second quarter earnings reports is one about the perks of diversification. Read about it in The Risk Report.
- [How Deep Is Your Loss?](https://www.frgrisk.com/how-deep-is-your-loss-stress-test/) - The 31 biggest US banks just had their physical by the Fed. Conclusion: they're mostly healthy. Read more about the stress test results in The Risk Report.
- [This Is An Inter-yen-tion](https://www.frgrisk.com/this-is-an-inter-yen-tion/) - Many currencies have weakened against the US dollar this year, but none as much as the Japanese yen. Read more about what it means in The Risk Report.
- [FRG’s Next-Gen Private Capital Forecasting Model vs the Standard Yale’s Takahashi-Alexander](https://www.frgrisk.com/frgs-private-capital-forecasting-model/) - Learn how FRG's Private Capital Forecasting Model outperforms the Takahashi-Alexander model in forecasting cash flows amid macroeconomic scenarios and events.
- [Conscious Uncoupling](https://www.frgrisk.com/conscious-uncoupling/) - The motion towards lower rates has begun, though with the US hanging back for a bit. What do the multiple speeds mean for the effectiveness of further rate cuts? Read about it in The Risk Report.
- [I Will Be Your Predictor](https://www.frgrisk.com/i-will-be-your-predictor/) - Predictive power ain’t what it used to be, at least not when it comes to the inverted yield curve. Read more about it in The Risk Report.
- [The Tortured Homeowners Department](https://www.frgrisk.com/the-tortured-homeowners-department/) - Hurricanes, (re)insurance hikes, high rates, and zombies. Those are just a few of the difficulties recent home buyers have suffered. Read about it in the Risk Report.
- [Diss Tracks—Bank Edition](https://www.frgrisk.com/diss-tracks-bank-edition/) - US bank regulators are in the process of revising their proposal for stricter capital requirements. Read about the expected revisions and other new regulatory considerations in The Risk Report.
- [Is Your CECL System Meeting Your Needs?](https://www.frgrisk.com/is-your-cecl-system-meeting-your-needs/) - Key factors to ensure your CECL system meets evolving needs with data automation, scalable platforms, advanced models, and customizable reporting.
- [Even Non-Banks Get the Runs](https://www.frgrisk.com/even-non-banks-get-the-runs/) - Entities that act like banks –but aren’t—are largely exempt from regulation, but they are also exempt from the insurance that is afforded by that regulation.
- [Whisk the Risk Away](https://www.frgrisk.com/whisk-the-risk-away/) - The lines between traditional banks and non-bank credit providers are blurring, and the scale is increasingly tipping towards non-bank lenders. Read the Risk Report about the concerns this is raising.
- [Step by Step Guide to Climate Risk Assessment in Banking: How Can My FI Get Started?](https://www.frgrisk.com/step-by-step-guide-to-climate-risk-assessment-in-banking-how-can-my-fi-get-started/) - Explore key industry research into how your financial institution can get started with a proven framework for climate risk assessment to more effectively measure the impact of climate risk on your portfolio.
- [It's Not a Contest, But Europe Is  Winning](https://www.frgrisk.com/its-not-a-contest-but-europe-is-winning/) - Europe is the fastest-warming continent, so is the current regulation and plans enough to reach net-zero emissions with the deadline imposed by international agreements?
- [The Broccoli Is Starting to Bite](https://www.frgrisk.com/the-broccoli-is-starting-to-bite/) - Inflation—like broccoli—is the bit the economy must finish to get to the good stuff—interest rate cuts. But “dessert” keeps getting postponed.
- [Halt the Deckchairs!](https://www.frgrisk.com/halt-the-deckchairs/) - Shareholders and customers are helping to push towards global net zero. Regulation is an important impetus for change, but it isn't the only one.
- [Climate Risk in Banking: Who Are the Regulators and Other Key Players?](https://www.frgrisk.com/climate-risk-in-banking-regulators/) - Explore the climate risk regulator landscape and their principle guidance for banking and climate risk reporting, including FSB, NGFS, IFRS, TCFD, TNFD, and more.
- [You Say Discount Window As If It's A Bad Thing](https://www.frgrisk.com/you-say-discount-window-as-if-its-a-bad-thing/) - The Fed is encouraging banks to borrow from its discount window. Will the regulators’ expected approach of two parts carrot and one part stick work?
- [Back to Black](https://www.frgrisk.com/back-to-black/) - How big of a boost would a negative interest rate give the economy? Well: at least it didn't make things worse.
- [Struggling to Scope](https://www.frgrisk.com/struggling-to-scope/) - The SEC has adopted the final rules for climate disclosure—but they aren’t as robust as originally designed. What information are companies required to release?
- [What is Climate Risk in Finance? Why Is It Important?](https://www.frgrisk.com/what-is-climate-risk-in-finance-why-is-it-important/) - Learn how climate risk in finance, like physical and transition risks, impact traditional risk areas including credit, market, liquidity, operational and legal.
- [Higher for Longer Turns to Higher Forever](https://www.frgrisk.com/interest-rates/) - When will interest rates fall? It isn't likely to be anytime soon.
- [On Second Thought](https://www.frgrisk.com/on-second-thought/) - Remember last summer when we spent endless days going over Team Regulator’s 1,000-page proposal for new bank rules? It seems like Team Regulator wants a redo.
- [The Sound of Many Band-Aids](https://www.frgrisk.com/the-sound-of-many-band-aids/) - We were going to give credit risk and commercial real estate a pass this week, but the news wouldn’t let us. Read our take on the latest FRG Risk Report.
- [IFRS 17 Challenges - Implementation Insights](https://www.frgrisk.com/ifrs-17-challenges-implementation/) - The multi-year implementation of the IFRS 17 accounting standard ("the standard") has required significant enterprise-wide technology changes that have predictably proved challenging and complex for the insurance industry. Since 2017, industry players have invested considerable time, resources, and coordination initiatives across their organizations to meet compliance and operational readiness. Given that the effective date of
- [Data Governance in FIs: Root Cause Analysis](https://www.frgrisk.com/dg-rca/) - This series focuses on Data Governance in Financial Institutions. Our first post introduced the fundamentals of Data Governance. This discussion centers on how to find root causes of problems in organizations and recommend actions to solve them. When analyzing deep issues and causes, it is important to take a comprehensive and holistic approach. Root Cause
- [Private Equity and Debt Liquidity, the “Secondary” Market](https://www.frgrisk.com/private-equity-and-debt-liquidity-the-secondary-market/) - A significant consideration in several aspects of Private Equity and Private Debt has been attributed to the liquidity (or lack thereof) of these investments. The liquidity factor has been cited as a basic investment decision, influencing complex pricing, return of investment and financial risk management. But as the environment has changed and matured, is liquidity
- [Forecasting Capital Calls and Distributions](https://www.frgrisk.com/forecasting-capital-calls-and-distributions/) - Early in his career, one of us was responsible for cash flow forecasting and liquidity management at a large multiline insurance company. We gathered extensive historical data on daily concentration bank deposits, withdrawals, and balances and developed an elementary but fairly effective model. Because insurance companies receive premium payments from and pay claims to many
- [Stress Testing Private Equity](https://www.frgrisk.com/stress-testing-private-equity/) - FRG, partnered with Preqin, has developed a system for simulating cash flows for private capital investments (PCF). PCF allows the analyst to change assumptions about future economic scenarios and investigate the changes in the output cash flows. This post will pick a Venture fund, shock the economy for a mild recession in the following quarters,
- [Does the Liquidity Risk Premium Still Exist in Private Equity?](https://www.frgrisk.com/does-the-liquidity-risk-premium-still-exist-in-private-equity/) - FRG has recently been investigating the dynamics of the private capital markets. Our work has led us to a ground-breaking product designed to help allocators evaluate potential cash flows, risks, and plan future commitments to private capital. You can learn more here and read about our modeling efforts in our white paper, “Macroeconomic Effects On
- [Optimal Pacing for Private Assets: An Example](https://www.frgrisk.com/optimal-pacing-for-private-assets-an-example/) - The FRG Private Capital Forecasting (PCF) solution recently released a module for optimal pacing. Pacing refers to the planning of future commitments. Future commitments encompass a decision on commitment size as well as a decision on commitment timing. This is done to help balance a portfolio’s needs to achieve or maintain allocations to private capital
- [How COVID-19 Could Affect Private Capital Investors](https://www.frgrisk.com/how-covid-19-could-affect-private-capital-investors/) - A new blog by Preqin explores what COVID-19 could mean for private capital investors. FRG and Preqin, an industry-leading provider of data, analytics and insights for the alternative assets community, partnered to develop a novel cash flow prediction model. The model is guided by FRG’s innovative methodology and powered by Preqin’s fund-level cash flow data.
- [Current Expected Credit Loss (CECL) a New Paradigm for Captives, Too](https://www.frgrisk.com/current-expected-credit-loss-cecl-a-new-paradigm-for-captives-too/) - The ramifications of CECL on Financial Institutions has in large part focused on Banks, but as we addressed in a recent paper, “Current Expected Credit Loss: Why the Expectations Are Different,” this new accounting treatment extends to a much larger universe. An example of this are the captives that finance American’s love affair with cars;
- [Change in CECL Approved by the FDIC](https://www.frgrisk.com/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 affect the rule itself but now allows banks the option to phase in
- [Is Your Business Getting The Full Bang for Its CECL Buck?](https://www.frgrisk.com/is-your-business-getting-the-full-bang-for-its-cecl-buck/) - Accounting and regulatory changes often require resources and efforts above and beyond “business as usual”, especially those like CECL that are significant departures from previous methods. The efforts needed can be as complex as those for a completely new technology implementation and can take precedence over projects that are designed to improve your core business
- [CECL Preparation: Data (As Usual) Drives Everything](https://www.frgrisk.com/cecl-data-as-usual-drives-everything/) - To appropriately prepare for CECL a financial institution (FI) must have a hard heart-to-heart with itself about its data. Almost always, simply collecting data in a worksheet, reviewing it for gaps, and then giving it the thumbs up is insufficient. Data drives all parts of the CECL process. The sections below, by no means exhaustive,
- [CECL Preparation: The Caterpillar to Butterfly Evolution of Data for Model Development](https://www.frgrisk.com/cecl-the-caterpillar-to-butterfly-evolution-of-data-for-model-development/) - I don’t know about you, but I find caterpillars to be a bit creepy[1]. On the other hand, I find butterflies to be beautiful[2]. Oddly enough, this aligns to my views on the different stages of data in relation to model development. As a financial institution (FI) prepares for CECL, it is strongly suggested (by
- [CECL Preparation: Questions to Consider When Selecting Loss Methodologies](https://www.frgrisk.com/cecl-questions-to-consider-when-selecting-loss-methodologies/) - Paragraph 326-20-30-3 of the Financial Accounting Standards Board (FASB) standards update[1] states: “The allowance for credit losses may be determined using various methods”. I’m not sure if any statement, other than “We need to talk”, can be as fear inducing. Why is it scary? Because in the world of details and accuracy, this statement is
- [CECL Preparation: The Power of Vintage Analysis](https://www.frgrisk.com/cecl-the-power-of-vintage-analysis/) - I would argue that a critical step in getting ready for CECL is to review the vintage curves of the segments that have been identified. Not only do the resulting graphs provide useful information but the process itself also requires thought on how to prepare the data. Consider the following graph of auto loan losses
- [CECL Preparation: Documenting CECL](https://www.frgrisk.com/documenting-cecl/) - The CECL Standard requires more than just another update in the calculation of a financial institution’s (FI’s) allowance for credit losses; the new standard also pushes institutions to be more involved in the entire allowance process, especially on the management/executive level. From explanations, justifications and rationales to policies and procedures, the standard requires them all.
- [CECL Preparation: How Embracing SR 11-7 Guidelines Can Support the CECL Process](https://www.frgrisk.com/how-embracing-sr-11-7-guidelines-can-support-the-cecl-process/) - The Board of Governors of the Federal Reserve System’s SR 11-7 supervisory guidance (2011) provides an effective model risk management framework for financial institutions (FI’s). SR 11-7 covers everything from the definition of a model to the robust policies/procedures that should exist within a model risk management framework. To reduce model risk, any FI should
- [CECL Preparation: Handling Missing Data for CECL Requirements](https://www.frgrisk.com/handling-missing-data-for-cecl-requirements/) - Most financial institutions (FI’s) find that data is the biggest hurdle when it comes to regulatory requirements: they don’t have enough information, they have the wrong information, or they simply have missing information. With the CECL accounting standard, the range of data required to estimate expected credit losses (e.g., reasonable and supportable forecasts) grew from
- [Florida Man Can't Get Insurance](https://www.frgrisk.com/florida-man-cant-get-insurance/) - It might not be the most spectacular Florida Man story, but it is one of the more concerning ones. In this year of extreme weather events—September was the warmest on record ever—insurance companies are adapting their business models to what is here and will keep coming. WSJ has used the Floridian town of West Palm
- [Climate Risk: How Can My FI Get Started?](https://www.frgrisk.com/climate-risk-how-can-my-fi-get-started/) - This blog series explores initial industry research into managing climate risk so that you understand what is at stake for your financial institution (FI), as well as how to get started with measuring and mitigating this emerging source of risk. We have presented an introduction to the risk that climate change poses to the financial
- [Even Scalier Scales](https://www.frgrisk.com/even-scalier-scales/) - There is a new paper out that explores the need for a new category of hurricanes to capture those that have winds beyond 192 mph—of which the world has measured five, all in the last decade. The authors of the paper (James Kossin and Michael Wehner) predict that if global temperatures rise 2 degrees Celsius
- [Climate Edition](https://www.frgrisk.com/climate-edition/) - Bad COP, Good COP, Take 28 This weekend is the COP28 (which stands for the 28th meeting of the conference of the parties (COP) to the UN Framework Convention on Climate Change (UNFCCC)). It’s being held in Dubai, ten-thousands of people are flying in from all over the world to participate, and this week began
- [Black Swans Don't Live in AI](https://www.frgrisk.com/black-swans-ai/) - Worry is within the purview of Team Regulator, and they do it well. This week, Gary Gensler of the SEC voiced his concern to FT that AI will cause substantial financial instability within the next decade. So here is his thinking: Financial institutions, especially investment banks, asset managers, brokers, and advisors, are increasingly using AI
- [Not All Quant Quakes Are Black Swans](https://www.frgrisk.com/not-all-quant-quakes-are-black-swans/) - Information about the Chinese financial markets is often fleeting, sparse, and long after the fact. This week, however, Bloomberg brought a piece on a recent Quant Quake, a headline too good to pass up. The piece talks about how Chinese quant hedge funds—hedge funds that manage portfolios based on rules-based (quantitative) models—got caught in a
- [O as in Out-Of-Office](https://www.frgrisk.com/o-as-in-out-of-office/) - Yeah, well, there was a fear it might come, there were hints it might come, there were expert predictions it might come, there were small kids yelling: “It’s coming, it’s coming,” and this week it came: the office loan losses. It wasn’t a lot, but enough to evoke that fuzzy feeling of I-told-you-so. New York
- [What Goes Up, Must ... What?](https://www.frgrisk.com/what-goes-up-must-what/) - Everyone knows that January is the time for sales. The market for government debt is no different. Come the new year, and countries around the world are looking to fund their budgets, which usually means that you can snag a good deal on treasury bonds. And in 2024 the everything-must-go could turn out extra special
- [When, How Far, and How Fast?](https://www.frgrisk.com/when-how-far-and-how-fast/) - Source: Wall Street Journal Those are the questions for entering 2024. The importance of interest rates to the global economy in general, and to our clients in particular, cannot be stressed enough (ha-ha.) And last year was a bumpy road trip chasing the elusive soft landing with the kids screaming in the backseat: “Are we
- [No Banking on (U.S.) Banks](https://www.frgrisk.com/no-banking-on-u-s-banks/) - Higher interest rates are meant to be good for banks. It should increase their net interest income, their profits, and their stock price. Instead, this year, the large US bank stocks have fallen 15% whereas the rest of the stock market is up 19%. The Economist calls it “underperformance following a decade of mediocrity.” Ouch.
- [IFRS 17: Bridging the Gap](https://www.frgrisk.com/ifrs-17-bridging-the-gap/) - Existing accounting practices in the insurance industry are inconsistent and unclear. This has led to the issuance of IFRS 17 Insurance Contracts – the first international Standard for insurance contracts. Because this Standard is based solely on principle and does not provide explicit guidance, insurers will need to identify their own best practices of IFRS
- [Data Governance in FIs: Intro to Data Governance](https://www.frgrisk.com/dg-intro/) - This blog series will focus on Data Governance in Financial Institutions. Our first post introduces data governance fundamentals. It will be followed by a discussion of root cause analysis, metadata, the five stages of data governance deployment, and a final blog that crafts a business case for data governance. Today’s industry leaders recognize data among
- [Data Management - The Challenges](https://www.frgrisk.com/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 previous blog, we talked about the need for companies to get a
- [Top 6 Things To Consider When Creating a Data Services Checklist](https://www.frgrisk.com/top-6-things-to-consider-when-creating-a-data-services-checklist/) - "Data! Data! Data! I can't make bricks without clay." — Sherlock Holmes, in Arthur Conan Doyle's The Adventure of the Copper Beeches You should by now have a solid understanding of the growth of and history of data, data challenges and how to effectively manage them, what data as a service (DaaS) is, how to optimize data
- [Turning a Blind Eye to the Risky Business of Incentive-based Sales Practices ](https://www.frgrisk.com/turning-a-blind-eye-to-the-risky-business-of-incentive-based-sales-practices/) - Should you be monitoring your sales activities to detect anomalous behaviors? The use of sales incentives (commissions, bonuses, etc.) to motivate the behavior of salespeople has a long history in the United States. We all hope to assume the initial structuring of incentive-based pay is not intended to have nefarious or abusive impacts on its customers
- [Data Is Big, Did You Know?](https://www.frgrisk.com/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 company or personal level; local
- [Improving Verbal and Nonverbal Communication](https://www.frgrisk.com/improving-verbal-and-nonverbal-communication/) - This is the third post in an occasional series about the importance of technical communication in the workplace. The ability to speak and portray yourself professionally, efficiently, and effectively are the most important business skills any person can have other than skills required by a job title. Those who have impressive verbal/non-verbal communication skills on
- [AI in FIs: Foundations of Machine Learning in Financial Risk](https://www.frgrisk.com/ai-in-fis-foundations-of-machine-learning-in-financial-risk/) - Through the lens of Financial Risk, this blog series will focus on Financial Institutions as a premier business use case for Artificial Intelligence and Machine Learning. Today, opportunities exist for professionals to delegate time-intensive, dense, and complex tasks to machines. Machine Learning (ML) has the ability to automate Artificial Intelligence (AI) and is becoming much
- [The 5 Ws and H of IFRS 17 (Part 2)](https://www.frgrisk.com/the-5-ws-and-h-of-ifrs-17-part-2/) - Previously, we talked about the 5 Ws of IFRS 17. This blog post (Part 2) will discuss the H: How does IFRS 17 replace IFRS 4? A Consistent Model Figure 1: The components that make up IFRS 17 insurance contract liabilities.[1] IFRS 17 introduces the General Measurement Model (GMM) to calculate insurance contract liabilities for
- [The 5 Ws and H of IFRS 17 (Part 1)](https://www.frgrisk.com/the-5-ws-and-h-of-ifrs-17-part-1/) - International Financial Reporting Standards (IFRS) 17 Insurance Contracts, issued in 2017, represents a major overhaul on financial reporting for insurance companies. However, many in the financial industry are still unfamiliar with the Standards. This blog post, Part 1, aims to answer the five basic W questions Who, What, When, Where, and Why of IFRS 17.
- [Five Easy Steps Toward Implementing the Fiduciary Rule](https://www.frgrisk.com/five-easy-steps-toward-implementing-the-fiduciary-rule/) - The Department of Labor’s fiduciary rule became effective in June with an implementation date that is now less than four months away. It is, of course, uncertain that the regulation will stay in place under the new administration. President-elect Trump has named Andrew Puzder as Labor Secretary, and he may wish to buy time to
- [Fed Exempts Large Noncomplex Banks from CCAR Qualitative Assessment](https://www.frgrisk.com/fed-exempts-large-noncomplex-banks-from-ccar-qualitative-assessment/) - The U.S. central bank finalized its rule exempting large and noncomplex banks from the qualitative component of Comprehensive Capital Analysis and Review (CCAR) program. Bank holding companies and U.S. intermediate holding companies of foreign banking organizations that have total consolidated assets between $50 billion and $250 billion and total nonbank assets of less than $75
- [Spreadsheet Risk Is Career Risk](https://www.frgrisk.com/spreadsheet-risk-is-career-risk/) - Stop and think: how much does your firm — and your work group — depend upon electronic spreadsheets to get mission-critical assignments done? How badly could a spreadsheet error damage your company’s reputation? Its financial results? Your own career? Here’s an example. Advising Tibco Software on its sale to Vista Equity Partners, Goldman Sachs used
- [The Case for Outsourced Hosting](https://www.frgrisk.com/the-case-for-outsourced-hosting/) - Middle office jobs are fascinating. In performance analysis, spotting dubious returns and tracing them back to questionable inputs requires insight that seems intuitive or innate but results in fact from a keen understanding of markets, asset classes, investment strategies, security characteristics, and portfolio dynamics. Risk management additionally calls for imagination in scenario forecasting, math and
- [Managing Model Risk](https://www.frgrisk.com/managing-model-risk/) - The Federal Reserve and the OCC define model risk as “the potential for adverse consequences from decisions based on incorrect or misused model outputs and reports.”[1] Statistical models are the core of stress testing and credit analysis, but banks are increasingly using them in strategic planning. And the more banks integrate model outputs into their
- [IFRS 9: Classifying and Staging Financial Assets](https://www.frgrisk.com/ifrs-9-classifying-and-staging-financial-assets/) - Under IFRS 9, Financial Instruments, banks will have to estimate the present value of expected credit losses in a way that reflects not only past events but also current and prospective economic conditions. Clearly, complying with the 160-page standard will require advanced financial modeling skills. We’ll have much more to say about the modeling challenges
- [IFRS 9: Modeling Challenges](https://www.frgrisk.com/ifrs-9-modeling-challenges/) - Calculating expected credit losses under IFRS 9 is easy. It requires little more than high school algebra to determine the aggregate present value of future cash flows. But it is not easy to ascertain the key components that are used by the basic equation—regardless whether the approach taken is “advanced” (i.e., where PD, LGD, and
- [IFRS 9: Evaluating Changes in Credit Risk](https://www.frgrisk.com/ifrs-9-evaluating-changes-in-credit-risk/) - Determining whether an unimpaired asset’s credit risk has meaningfully increased since the asset was initially recognized is one of the most consequential issues banks encounter in complying with IFRS 9. Recall the stakes: The expected credit loss for Stage 1 assets is calculated using the 12-month PD The ECL for Stage 2 assets (defined as
- [Data as a Service (DaaS) Solution - Described](https://www.frgrisk.com/data-as-a-service-daas-solution/) - 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 described with metadata from source systems. This provides
- [Data as a Service (DaaS) Data Sources – Internal or External?](https://www.frgrisk.com/data-as-a-service-daas-data-sources-internal-or-external/) - As mentioned previously, 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, particularly when data is needed from multiple sources or it is ‘siloed’ in the organization. DaaS provides the ability to use a single mechanism to deliver data
- [Data as a Service (DaaS) – The Benefits](https://www.frgrisk.com/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, authoritative (golden) source for critical data used across the organization.
- [IFRS 17: Killing Two Birds](https://www.frgrisk.com/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 from performing gap analyses, to issuing requirements to software and consulting vendors,
- [Avoiding Discrimination in Unstructured Data](https://www.frgrisk.com/avoiding-discrimination-in-unstructured-data/) - An article published by the Wall Street Journal on Jan. 30, 2019 got me thinking about the challenges of using unstructured data in modeling. The article discusses how New York’s Department of Financial Services is allowing life insurers to use social media, as well as other nontraditional sources, to set premium rates. The crux: the
- [Improve Your Problem-Solving Skills](https://www.frgrisk.com/improve-your-problem-solving-skills/) - This is the fifth post in an occasional series about the importance of technical communication in the workplace. “Work organisations are not only using and applying knowledge produced in the university but they are also producing, transforming, and managing knowledge by themselves to create innovations (Tynjälä, Slotte, Nieminen, Lonka, & Olkinuora, 2006)”. Problem-solving skills are
- [The Importance of Technical Communication](https://www.frgrisk.com/the-importance-of-technical-communication/) - This is the introduction to a new blog series, The Importance of Technical Communication, which will focus on topics such as verbal and written communication, workplace etiquette, and teamwork in the workplace. Soft skills, as a general term, include interpersonal skills, leadership, dependability, willingness to learn, and effective communication skills that can be used in
- [Improving Business Email Etiquette](https://www.frgrisk.com/improving-business-email-etiquette/) - This is the second post in an occasional series about the importance of technical communication in the workplace. According to The Radicati Group, Inc., based on a worldwide study in 2015, the number of business emails sent and received per user, per day totals 122, with a circulation of 112.5 billion worldwide. These statistics should
- [The Importance of Good Teamwork in the Technical Workplace](https://www.frgrisk.com/the-importance-of-good-teamwork-in-the-technical-workplace/) - This is the fourth post in an occasional series about the importance of technical communication in the workplace. Daily teamwork is an essential part of technical workplace success. Strong technical communication and collaboration skills are necessary to be an active and successful member of a team working to achieve a common goal. When thinking about
- [AI in FIs: Introducing Machine Learning Algorithms for Risk](https://www.frgrisk.com/ai-in-fis-introducing-machine-learning-algorithms-to-financial-institutions/) - Through the lens of Financial Risk, this blog series will focus on Financial Institutions as a premier business use case for Artificial Intelligence and Machine Learning. For any application of machine learning (ML) being considered for industry practice, the most important thing to remember is that business needs must drive the selection and design of the algorithm
- [AI in FIs: Learning Types and Functions of Machine Learning Algorithms](https://www.frgrisk.com/ai-in-fis-learning-types-and-functions-of-machine-learning-algorithms/) - Through the lens of Financial Risk, this blog series will focus on Financial Institutions as a premier business use case for Artificial Intelligence and Machine Learning. This blog series has covered how a financial institution (FI) can use machine learning (ML) and how these algorithms can augment existing methods for mitigating financial and non-financial risk.
- [The Financial Risk Group Is Now FRG](https://www.frgrisk.com/the-financial-risk-group-is-now-frg/) - We’re making it official: After more than a decade of operating as “The Financial Risk Group,” we’re changing our name to reflect what our clients have called us since the early days. We are excited to formally debut our streamlined “FRG” brand and logo. Our new look is a natural progression from where we started
- [Do You Have a Pandemic Scenario?](https://www.frgrisk.com/do-you-have-a-pandemic-scenario/) - A recent white paper I wrote discussed the benefits of scenario analysis. The purpose of scenario analysis is to see how economic, environmental, political, and technological change can impact a company’s business. The recent outbreak of COVID-19 ("Coronavirus") is a perfect example of how an environmental event can have an impact on the local and, as we
- [Is a Pandemic Scenario Just a Recession Scenario?](https://www.frgrisk.com/is-a-pandemic-scenario-just-a-recession-scenario/) - Recently, I wrote about how a pandemic might be a useful scenario to have for scenario analysis. As I thought about how I might design such a scenario I considered: should I assume a global recession for the pandemic scenario? A pandemic, by definition, is an outbreak of a disease that affects people around the
- [Avoiding Bureaucratic Phrasing](https://www.frgrisk.com/avoiding-bureaucratic-phrasing/) - Employees developed plans during the course of the project in order to create a standardized process with respect to regulation guidelines. Did you understand that sentence reading through the first time? The sentence is filled with bureaucratic phrasing which makes the information more complex than necessary. In the workplace, "bureaucratic" means involving complicated rules and
- [Economic Impact Analysis for Credit Unions](https://www.frgrisk.com/economic-impact-analysis-for-credit-unions/) - In a recent webinar I participated in with SAS we discussed Economic Impact Analysis (EIA). While EIA is similar in concept to stress testing, its main goal is to allow credit unions to move quickly to evaluate economic changes to their portfolio—such as those brought about by a crisis like the COVID-19 pandemic. There are four main
- [Data Management - Leveraging Data for a Competitive Advantage](https://www.frgrisk.com/data-management-leveraging-data-for-a-competitive-advantage/) - This is the first in a series of blogs that explore how data can be an asset or a risk to organizations in an uncertain economic climate. Humanity has always valued novelty. Since the advent of the Digital Age, this preference has driven change at an astronomical pace. For example, more data was generated in
- [Model Updates for FRG's VOR PCF Ensure Continuous Improvement](https://www.frgrisk.com/model-updates/) - FRG regularly launches new models that will enhance the predictive capability of our VOR Private Capital Forecasting (PCF) solution. Together with our partner Preqin, FRG launched PCF last year to help private capital investors better forecast cash flows. Since then, behind the scenes our Business Analytics team has been hard at work fine-tuning the models used
- [Coming Down the Assembly Line: Automated Form PF Reporting](https://www.frgrisk.com/coming-down-the-assembly-line-form-pf-reporting/) - Regulate Your Risk…GET A CAR! Commuters who use public transportation encounter the risk of being tardy on a daily basis. There are so many factors unaccounted for that the probability of arriving on time is not in their favor. What to do? How can they eliminate the chance of, say, a subway breakdown or late
- [Risk Management Technologies](https://www.frgrisk.com/risk-management-technologies/) - FRG is partnering with FINCAD to implement risk management, valuation and modeling technologies, both stand-alone and integrated with existing risk platforms. Click here to visit the FINCAD website for more information
- [IFSUG Presentation](https://www.frgrisk.com/ifsug-presentation/) - FRG Risk consultant Jonathan Leonardelli, FRM, will discuss loss estimation using roll rate matrices on Wednesday, March 20 from 1-2pm ET. This presentation is hosted by the Insurance & Finance SAS User Group (https://www.ifsug.org/). Click here to visit the SAS website for more information and to register
- [Stress Testing](https://www.frgrisk.com/stress-testing/) - FRG is helping clients implement platforms for integrated stress testing covering the full workflow from risk data management, stress models, risk assessment, capital requirements and regulatory reporting. Click here to visit the Federal Reserve website for more information
- [Risk Data Management](https://www.frgrisk.com/risk-data-management/) - FRG is helping clients implement platforms for integrated risk data management. Being able to quickly - seamlessly - access and analyze many data sources is key in risk measurement, and FRG has global experience in designing and implementing such platforms. Click here to visit Risk Tech Forum for more information
- [Why Basel III matters](https://www.frgrisk.com/why-basel-iii-matters/) - FRG has helped many of the SIFI companies design, implement and build world-class risk platforms. We've also helped these institutions implement advanced reporting and analytics designed to minimize the burden of meeting regulatory requirements. Give us a call to find out more about our experience and capabilities. Visit the Motley Fool website for more information
- [Removal of Financial Reporting](https://www.frgrisk.com/removal-of-financial-reporting/) - The tightening of capital requirements and the elimination of AFS filtering means that banks must look elsewhere for areas to minimize capital requirements. FRG has implemented advanced analytics designed to optimize capital. Even small reductions in capital can result in substantial savings to the banks. Please visit the CFA Institute website for more information
- [Risk Weighting, Regulatory Arbitrage, And Other Issues](https://www.frgrisk.com/risk-weighting-regulatory-arbitrage-and-other-issues/) - The proposed shift to internal models for ratings means that calculating regulatory capital will continue to become more complex and sophisticated as the regulations evolve. FRG can assist by providing experienced people capable of understanding the modeling process and the integration of models with the capital processes. Please visit the Seeking Alpha website for more
- [Hierarchy of Visual Understanding](https://www.frgrisk.com/hierarchy-of-visual-understanding/) - Risk visualization as a science and art form is still in it's infancy. The vast majority of users still view data in tabular form or use simple graphs to visualize. FRG can help your firm take the next step in visualization. We use storyboards and informative maps to help users comprehend information and decipher trends
- [The Risks of Oversimplifying Stress Test Models](https://www.frgrisk.com/the-risks-of-oversimplifying-stress-test-models/) - Simple methods of stress testing often result in risky practices, but the trade off of using a simple model occurs through an easier understanding relative to a complex model. FRG's team of consultants develop complex models through an intuitive understanding of the economy that make them simple and easy to understand. Through years of training
- [The Heroes of the Risk Quantification Process](https://www.frgrisk.com/the-heroes-of-the-risk-quantification-process/) - What makes for a successful risk quantification process? Prior to joining the firm I thought it was all about analytics (my own specialty). I’ve come to realize that a happy marriage between data, analytics, and reporting needs to take place. Each component brings a necessary piece to the risk puzzle of a portfolio. But it
- [Time Series Data Curve Balls](https://www.frgrisk.com/time-series-data-curve-balls-2/) - Albert Pujols, one of the best baseball players in the game today, did not start the 2011 baseball season well. Prior to 2011 he had a lifetime batting average (BA) of .331 – that’s almost one hit for every at bat! However, much to the dismay of Cardinals fans (of which I am one) he
- [Numbers Don't Lie](https://www.frgrisk.com/numbers-dont-lie/) - Some years back, I came upon an article in the San Francisco Chronicle comparing major airlines’ on-time performance (1). This comparison was based on data published by the US Department of Transportation on a monthly basis. The article listed the airlines having the best and poorest performance but without any explanation of why that might
- [Catching Up With Volatility](https://www.frgrisk.com/catching-up-with-volatility-2/) - The last few years have seen significant volatility in the financial markets. This has highlighted a basic issue with the popular simulation models used in financial institutions: models have a hard time catching up with volatility. In other words, these models react slowly to changing volatility conditions, causing the risk metrics to be out of
- [The Basel Games](https://www.frgrisk.com/the-basel-games/) - The Basel Games As the 2012 summer Olympic Games descends upon London, England, national pride and attention grows around the world in anticipation of an elite few chasing international glory. Organization of such an international affair takes a great deal of leadership and planning. In 1894, Baron Pierre de Coubertin founded the International Olympic Committee.
- [Given Its Highly Risky Balance Sheet, It's Time to 'Stress Test' the Fed](https://www.frgrisk.com/given-its-highly-risky-balance-sheet-its-time-to-stress-test-the-fed/) - The current economic climate has us riddled with uncertainty to the point that not even The Federal Reserve is immune to huge losses on its portfolio. As economic conditions change, banks must view the scope of uncertainty through a wider lens and keep in mind that traditional measures of risk may not be suitable for
- [Creating Accountability For Controlling Systemic Risk By Assigning Taxpayers A De Jure Equitable Interest In SIFI Earnings](https://www.frgrisk.com/creating-accountability-for-controlling-systemic-risk-by-assigning-taxpayers-a-de-jure-equitable-interest-in-sifi-earnings-2/) - The theme of the 15th International Banking Conference hosted by the Chicago Federal Reserve was about the Social Value of the Financial Sector – Too Big to Fail or Just Too Big? With taxpayer dollars being used to prop up financial institutions across some developed economies, it is expected that a fiduciary relationship is established
- [With Jobs Plentiful, B-Schools Expand Risk Management Offerings](https://www.frgrisk.com/with-jobs-plentiful-b-schools-expand-risk-management-offerings/) - FRG realized, as did business schools such as the University of Pennsylvania's Wharton School, that corporations need to hire trained Risk Management personnel. So in 2011, FRG started a NEET training program for recent college graduates interested in learning SAS software programming skills with practical applications in Risk Management. Please contact FRG to learn how
- [Agencies Seek Comment on Dodd-Frank Act Stress Test Guidance for Medium-Sized Firms](https://www.frgrisk.com/agencies-seek-comment-on-dodd-frank-act-stress-test-guidance-for-medium-sized-firms/) - The OCC, FDIC, and Federal Reserve are seeking comments on stress test guidance for banks with $10 billion to $50 billion in total consolidated assets. The purpose of the guidance is to provide supervisory expectations about the Dodd-Frank Act stress test as well as details about methodologies that should be used (e.g., segmentation, loss estimation).
- [Banks Get a C+ in Postcrisis Risk Management](https://www.frgrisk.com/banks-get-a-c-in-postcrisis-risk-management/) - In the article, from American Banker, there is a concern that Banks are not engaging enough resources in building integrated risk infrastructure across business lines. FRG's consultants have the skill set to assist Risk Managers in finding and implementing the right risk management software. Click below to read the article.
- [Stress Testing Solutions: The Supply and Demand](https://www.frgrisk.com/stress-testing-solutions-the-supply-and-demand/) - More banks are seeking automated systems to stress test their institutions, rather than relying on manual processes that can be time consuming and not always cost effective. A new report by consultants with Aite Group suggests that smaller banks, those with revenues of less than $50 billion, may be more interested in simply complying with
- [Do Bank Stress Tests Mean Anything At All?](https://www.frgrisk.com/do-bank-stress-tests-mean-anything-at-all/) - Bank stress testing is conducted according to future adverse scenarios of the economy that may not truly represent the most likely potential outcomes. The people at FRG recognize this and always seek to develop mathematically robust solutions while still adhering to the guidelines of The Federal Reserve. It is with this mindset that FRG moves
- [Data, Talent, and Compliance Drive the Next Phase of Risk Management](https://www.frgrisk.com/data-talent-and-compliance-drive-the-next-phase-of-risk-management/) - There are many ongoing efforts to reduce exposures to risk, but because of regulatory standards, banks and many risk management firms often deal solely with compliance rather than results. At FRG, the talented team of consultants collaborate in a checks and balances manner to provide the most accurate solutions to portfolio challenges. This dynamic work
- [Regulatory-Only Risk Management Misses Profit Opportunities](https://www.frgrisk.com/regulatory-only-risk-management-misses-profit-opportunities/) - Across the entire spectrum of risk management, it is often the consensus view that risk is simply part of a regulatory requirement that banks must undertake. What many fail to see, however, is that risk is perhaps the number one determinant in profit margins and good business. Utilizing risk as an information building block, rather
- [U.S. Regulators Seeking Data on Banks' Attempts to Slim Down](https://www.frgrisk.com/330-2/) - Too big to fail? Or too big to manage? Some of the country’s largest banks are being asked to simplify their operations, in order to give regulators more accurate information about the risks these giants pose to the country’s financial system. It’s one of many initiatives proposed by the U.S. Office of the Comptroller of
- [Companies Want MBAs Who Can Code](https://www.frgrisk.com/companies-want-mbas-who-can-code/) - Business schools around the country are realizing that management students with coding skills are more valuable to their future employers. According to Business Week, companies want business leaders who know enough about coding to communicate with their technical staff, and elite business programs are responding by making the relevant courses available, if not required, to
- [What Is Stress Testing?](https://www.frgrisk.com/what-is-stress-testing/) - The purpose of stress testing is to evaluate a financial organization’s strength under adverse conditions. But as this Forbe’s article explains, it is not simply a matter of passing or failing. Visit the link below at Forbes.com for more about regulatory stress testing, and what information it can and can’t provide. Still confused about what
- [Economic Research and Stress Testing](https://www.frgrisk.com/economic-research-and-stress-testing/) - Stress testing the country’s banks provides a valuable measurement of how well the banks would perform under unfavorable conditions. In order for the tests to give the most accurate picture of potential vulnerabilities, Federal Reserve officials don’t disclose the specific models used to crunch those numbers. James McAndrews, director of research at the Federal Reserve

## Pages

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- [Learn How to Leverage AI in Financial Risk Management](https://www.frgrisk.com/ai-in-risk-management-roadmap/) - Transform Risk Management with AI Get Your Free 12-Month AI Roadmap Empower your bank with actionable AI strategies for compliance, efficiency, and risk reduction. Book a Complimentary Call with a Senior Risk AdvisorDownload Our AI Solution BriefKey Benefits of Employing AI in Risk Management Frameworks%Cost ReductionOur clients see significant decreases in costs by automating their
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- [Transform Your Private Capital Forecasting](https://www.frgrisk.com/pcf-demo/) - Learn how FRG's Private Capital Forecasting tool empowers you with cutting-edge tools to make data-driven decisions and navigate market fluctuations with confidence.
- [Free Webinar Risk Model Monitoring](https://www.frgrisk.com/free-webinar-financial-risk-model-monitoring/) - Learn why frequent model monitoring is now an essential best practice, and what you need to more easily and accurately monitor and adjust models.
- [Transform Your CECL Reporting: Insights from Industry Leaders](https://www.frgrisk.com/cecl-standard-reporting-guide/) - Modern CECL tools offer unprecedented accuracy, flexibility, and integration. Explore the future of CECL reporting in our latest video podcast.
- [Climate Risk Assessment Framework Template - Free Download](https://www.frgrisk.com/climate-risk-assessment-framework-template-free-download/) - Free climate risk assessment framework template for financial institutions. Aligned with ISO 31000 standard. Prioritize risks, mitigate impact. Download now.
- [VOR Climate Waterway](https://www.frgrisk.com/products/vor-climate-waterway/) - Get ahead of the storm and prepare your risk strategy with VOR Climate Waterway, a climate risk analysis tool for assessing physical risks associated with climate change.
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- [VOR IFRS 9](https://www.frgrisk.com/products/vor-ifrs9/) - Discover our VOR IFRS 9 compliance solution, designed to adapt to your resources, easily handle model management with calibration and feature-based on/off switches.
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- [VOR Scenario Builder](https://www.frgrisk.com/products/vor-scenario-builder/) - Create and streamline scenario creation and analysis with VOR Scenario Builder to better assess possible future environments and their impact on operations.
- [VOR CECL](https://www.frgrisk.com/products/cecl/) - Conquer the challenges of CECL reporting with VOR CECL Waterway to seamlessly integrate data and models for smart, fast processing and accurate results.
- [VOR Private Capital Forecasting](https://www.frgrisk.com/products/vor-private-capital-forecasting/) - Analyze cash flow distribution of private capital investments including equity, debt and real assets with VOR Private Capital Forecasting and its next-gen modeling.
- [VOR Reporting](https://www.frgrisk.com/products/vor-reporting/) - Gain clarity on your portfolio with VOR Reporting's customizable interactive dashboard, offering key metrics and analytics for web and PDF.
- [VOR Risk Premia](https://www.frgrisk.com/products/vor-risk-premia/) - Improve portfolio dynamics and increase potential return opportunities with VOR Risk Premia. Create, optimize and track for better risk / return characteristics.
- [VOR Performance](https://www.frgrisk.com/products/vor-perform/) - Calculate risk and performance metrics with VOR Performance, our powerful measurement and reporting system for fully transparent, customizable analytics.
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- [News & Events](https://www.frgrisk.com/news-events/) - News and Events FRG Announces New Strategic Partnershipby Megan Jones | Oct 1, 2025 | CARY, NC (Sept. 29, 2025) FRG | The Financial Risk Group, LLC (“FRG”), a premier risk management firm delivering specialized advisory, implementation, and software solutions, is pleased to announce a strategic partnership with Main Street Capital Corporation (NYSE:… FRG Volunteers
- [Products](https://www.frgrisk.com/products/) - Discover the power of Visualization of Risk (VOR) software – advanced analytics, portfolio management, and efficient decision-making for comprehensive financial strategies.
- [About Us](https://www.frgrisk.com/about-us/) - FRG empowers financial institutions with smart risk solutions using global expertise and our VOR Risk Intelligence platform, helping clients analyze risk and make smarter decisions.
- [Careers](https://www.frgrisk.com/careers-2-2/) - Start your Financial Risk Management career with exciting job openings at FRG. Join us for rewarding opportunities and professional growth, and get the training you need to succeed.
- [FRG Culture](https://www.frgrisk.com/culture/) - Hannah Wiser, Assistant Consultant, joined FRG's NEET program in 2019. She recently reflected on the company's workplace culture. There are three words that best describe the culture at FRG: communal, sociable, and spontaneous. These traits are fitting for a firm that bridges technology and financial risk management. FRG works to align ever-evolving technology practices with
- [Login](https://www.frgrisk.com/login/) - [RM_Login]
- [Password Recovery](https://www.frgrisk.com/password-recovery/) - [RM_password_recovery]
- [Submissions](https://www.frgrisk.com/submissions/) - [RM_Front_Submissions]
- [Engaging The World](https://www.frgrisk.com/engaging-the-world/) - Initially, we focused on providing clients with expertise and guidance for risk technology projects. We have expanded our reach, now providing implementation, advisory and thought leadership services in various industries, and covering all major disciplines of risk management. The company has helped some of the largest financial, energy and commodity firms successfully implement enterprise risk
- [Managed Services](https://www.frgrisk.com/hosting-services/)
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- [VOR Policies](https://www.frgrisk.com/vor-policies/) - Data security is a building block of the VOR platform. Client data is hosted on a virtual private cloud. All systems access is controlled by 2 factor authentication. Only client staff and authorized FRG personnel have access to the systems and data. For specific information on FRG's policies regarding access control and information security compliance,
- [New Machinist Journal](https://www.frgrisk.com/new-machinist-journal/) - As a technology firm FRG believes future success is dictated by continually reviewing new technologies and innovating from them. This series will explore in more detail actual applications of Machine Learning and Artificial Intelligence in many different environments and use cases, and will provide perspective on the research, approach, and the solutions, as well as
- [Case Studies](https://www.frgrisk.com/case-studies/)
- [Discussions](https://www.frgrisk.com/discussions/)

## Webinars

- [The Analytics Gap: What Modernizing Banks Know that Others Don’t](https://www.frgrisk.com/webinars/what-modernizing-banks-know-that-others-dont/) - A free webinar for community and regional bank leaders ready to close the gap between their analytics are today, and where they need to be.
- [Risk Model Monitoring Webinar](https://www.frgrisk.com/webinars/financial-risk-model-monitoring/) - Don't Let Your Financial Risk Models Drift Off CourseAre your risk models still performing as expected? Or are they slowly drifting off course, potentially exposing your bank to unexpected issues? How can you know?In today's rapidly changing environment, data distributions and relationships can shift. Even your sophisticated and insightful models might deviate from their original
- [TEST Webinar - FRG](https://www.frgrisk.com/webinars/test-webinar-frg/) - This is a test webinar for troubleshooting. Join us!
- [Advanced Tools & Strategies for Analyzing Physical Climate Risk](https://www.frgrisk.com/webinars/climate-risk-management/)

## WPWS Page

- [Webinar Subscription](https://www.frgrisk.com/?wpws_page=webinar-unsubscribe) - You are now unsubscribed
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## Careers

- [Senior Reporting Analyst](https://www.frgrisk.com/careers/senior-reporting-analyst/) - As a member of The Financial Risk Group team, you will be responsible for designing, developing, and writing complex and original software code, specifically focused on surfacing information from the corporate risk platform. You must utilize Business Intelligence (BI) and reporting skills to help the organization present interactive report content to various users of the

## Leadership

- [Jonathan Leonardelli](https://www.frgrisk.com/leadership/jonathan-leonardelli/) - Jonathan Leonardelli, MFM, FRM, is a risk technologist who specializes in credit, market, and operational risk. In addition to helping businesses investigate, identify, quantify, and take action on the risk in their portfolios he also helps clients develop and implement processes to satisfy regulatory requirements. At FRG, Jonathan leads the group focused on business analytics.
- [Michael Forno](https://www.frgrisk.com/leadership/michael-forno/) - Michael Forno has more than 25 years of experience in delivering risk management technology solutions. Mike has worked with some of the largest financial institutions in the world. His clients include banks, asset managers, hedge funds, energy traders, agribusiness companies, state pensions, and private endowments. With such a diverse client base, he has enjoyed implementing sound
- [Chuck Beck](https://www.frgrisk.com/leadership/chuck-beck/) - Chuck Beck is a specialist in business intelligence and data warehousing. Prior to joining FRG, he was an IT manager at SAS world headquarters, where he oversaw the team responsible for the global implementation and support of SAS® Solutions, Data Warehousing & Reporting and Master Data Management. His team was recognized within SAS R&D circles
- [John Bell](https://www.frgrisk.com/leadership/john-bell/) - John Bell is a specialist in market, credit, and operational risk reporting and delivery. He has comprehensive knowledge of SAS software, with particular expertise in SAS® Credit Risk Management for Banking and FRG's reporting solutions. Before becoming a partner with FRG he served as development manager for SAS® Credit Risk Management for Banking and Manager
- [Tim Weeks](https://www.frgrisk.com/leadership/tim-weeks/) - Tim Weeks is a leader in Business Intelligence environments. He sharpened his skill set at SAS Institute headquarters, where he focused on development, database design and business analysis. He was eventually named IT Manager for Global Data Warehousing and Reporting. An early adopter of SAS® BI management solutions, he was a member of several governance
- [Dessa Glasser](https://www.frgrisk.com/leadership/dessa-glasser/) - Dessa Glasser, Ph.D., is a Principal with a 30-year track record designing and implementing innovative solutions and organizations in risk, data, and analytics. She focuses on Data and regulatory solutions and also assists Virtual Clarity, Ltd. on data solutions for their clients. She was recently named an Independent Member of the Board of Directors for
- [Valerie Cooper](https://www.frgrisk.com/leadership/valerie-cooper/) - Valerie Cooper has extensive experience in Program and Project Management, Quality Assurance Management, and Resource Management. She is a certified Project Management Professional (PMP) with expertise in the Information Systems, Manufacturing, State and Local Government, Federal Government, and Healthcare industries. Valerie started her career as a developer before moving into leadership roles. In a leadership
- [Wendy Cutler](https://www.frgrisk.com/leadership/wendy-cutler/) - Wendy Cutler utilizes her leadership expertise in program management and collaboration to improve workflow processes, meet critical deadlines, and exceed profitability goals. Prior to joining FRG in 2016, Wendy led the start-up of a 400,000 square foot distribution center that utilized an auto pick warehousing system. With full plant level P&L and operational responsibilities, she

## News and Events

- [FRG Announces New Strategic Partnership](https://www.frgrisk.com/news-and-events/frg-announces-new-strategic-partnership/) - CARY, NC (Sept. 29, 2025) FRG | The Financial Risk Group, LLC (“FRG”), a premier risk management firm delivering specialized advisory, implementation, and software solutions, is pleased to announce a strategic partnership with Main Street Capital Corporation (NYSE: MAIN) (“Main Street”). This partnership was established through a minority recapitalization of FRG, with Main Street providing
- [FRG Volunteers Help Pack Meals for Communities in Need](https://www.frgrisk.com/news-and-events/frg-volunteers-help-pack-meals-for-communities-in-need/) - FRG participated in a Rise Against Hunger meal packaging event, sending a team to the organization’s Raleigh warehouse for an afternoon of service and teamwork.
- [The Financial Risk Group, Inc. (FRG) Successfully Completes SOC 2 Audit](https://www.frgrisk.com/news-and-events/frg-completes-soc-2-audit/) - FRG Analyze Risk Differently. | The Financial Risk Group, Inc. (FRG) Successfully Completes SOC 2 Audit December 21, 2023
- [FRG Opens First European Office in Munich, Germany](https://www.frgrisk.com/news-and-events/new-germany-office/) - FRG, a global leader in risk management consulting services headquartered in Cary, NC, has opened its first European office in Munich, Germany.
- [SAS Recognizes FRG As Strategic Risk Partner](https://www.frgrisk.com/news-and-events/sas-recognizes-frg-as-strategic-risk-partner/) - FRG is proud to announce our renewed relationship with SAS, leader in risk management analytics software. For 13 years, FRG has worked closely with SAS to provide end-to-end enterprise risk and finance platforms for clients throughout the world. These integrated platforms help to improve the capital planning processes, address international regulatory guidelines and provide robust
- [Women Data Leaders' Global Summit, Nov. 3](https://www.frgrisk.com/news-and-events/women-data-leaders-global-summit/) - Dessa Glasser, FRG Principal and Independent Board Member at Oppenheimer Holdings Inc., will present at the Women Data Leaders’ Global Summit on Nov. 3. This event is hosted by CDO Magazine and EDM Council's Women Data Professionals Forum. FRG is a keynote sponsor. The event’s theme is Innovation and Leadership for Data Management, with more than 30 sessions
- [Introducing the New Machinist Journal](https://www.frgrisk.com/news-and-events/introducing-the-new-machinist-journal/) - Who are the new machinists, and what are their tools? The machinists of the 21st century are working with Artificial Intelligence (AI) and Machine Learning (ML), turning what has been science fiction into science fact. From learning algorithms that nudge us to buy more stuff to self-driving vehicles that “learn” the highways and byways to
- [Private Capital Fund Cash Flows](https://www.frgrisk.com/news-and-events/private-capital-fund-cash-flows/) - Private Capital Funds are the most popular partner at the finance dance these days, and for good reason. Access to this investment class is growing, and investors have money to spend: approximately $1 trillion for the Private Equity subclass alone, according to Prequin. With numbers like that, it's no wonder that the number of funds
- [CECL Scenarios: Considerations, Development, and Opportunities](https://www.frgrisk.com/news-and-events/cecl-scenarios-considerations-development-and-opportunities/) - A white paper by Dr. Jimmie Lenz and Dr. Sanjiv Salwar, FRG principals, explains how institutions can meet the FASB goal of "reasonable and supportable" expected credit loss forecasts. Download "CECL Scenarios: Considerations, Development, and Opportunities" by clicking this link. The paper is an addendum to an earlier CECL paper published by FRG, available by
- [Is Your Business Getting The Full Bang for Its CECL Buck?](https://www.frgrisk.com/news-and-events/is-your-business-getting-the-full-bang-for-its-cecl-buck/) - When it comes to CECL regulations, analytics and data governance will have the biggest institution-wide impact. How can you leverage your investments to get the biggest bang for your buck? FRG Principal Jimmie Lenz explains in a new post on the FRG blog. Click this link to read the full post.
- [FRG's Data Blog Series Concludes](https://www.frgrisk.com/news-and-events/frgs-data-blog-series-concludes/) - A series of blog posts centered on Data as a Service solutions, written by FRG Principal Dessa Glasser, has concluded with the publication of a final post, which outlines six top considerations in creating a corporate data strategy. Glasser published the first of the series' six blog posts in May of this year. The first
- [FRG Releases Pandemic Economic Scenario in Response to COVID-19](https://www.frgrisk.com/news-and-events/frg-releases-pandemic-economic-scenario-in-response-to-covid-19/) - Note: The global economy is changing rapidly as a result of the Coronavirus Pandemic. As new data has become available, FRG is releasing an Updated Pandemic Economic Scenario to help businesses assess and respond to the impact of COVID-19 on their operations. We have made free for download two scenarios – a pandemic shock scenario based on
- [Integrating ECL Onto a Stress Testing Platform: Credit Risk Characteristics](https://www.frgrisk.com/news-and-events/integrating-ecl-onto-a-stress-testing-platform-credit-risk-characteristics/) - FRG's new white paper, the latest in a series, examines how credit loss in the ECL process can leverage the changes in the credit risk profile of a portfolio during a stress scenario. Read it here, and then download other papers in this series authored by Jonathan Leonardelli, FRG's Director of Business Analytics.
- [Scenario Based Management and CECL](https://www.frgrisk.com/news-and-events/scenario-based-management-and-cecl/) - Why should you care about Scenario-Based Management? Jonathan Leonardelli, FRG's Director of Business Analytics, participated in a webinar this week with SAS and Oliver Wyman on the relevance of Scenario-Based Management. They discussed: The relevance of Scenario-Based Management, beyond risk management, and how it can be used for commercial and managerial purposes. How can smaller
- [Pazzula Takes Duke University Faculty Position](https://www.frgrisk.com/news-and-events/pazzula-takes-duke-university-faculty-position/) - Dominic Pazzula, FRG Director of Risk and Asset Allocation, has taken a part-time adjunct assistant professor position at Duke University. Dominic will teach Risk Management courses for the FinTech Master’s Program at Duke’s Pratt School of Engineering. Duke is one of the first universities in the country to offer a financial technology Master’s program through an engineering
- [FRG Sponsors Community Fundraiser](https://www.frgrisk.com/news-and-events/frg-sponsors-community-fundraiser/) - FRG is proud to sponsor this year's Pig Pickin' in the Park, a barbecue fundraiser hosted by the Cary-Kildaire Rotary Club planned for Aug. 5, 2021. Now in its 34th year, the event supports the James Atkins Memorial Scholarship and Humanitarian Fund. Profits from the fundraiser are expected to provide $11,000 for scholarships—enough to support a new
- [Webinar: Transforming how Enterprises Source and Manage Legal Entity Reference Data](https://www.frgrisk.com/news-and-events/webinar-transforming-how-enterprises-source-and-manage-legal-entity-reference-data/) - A webinar this week hosted by the EDM Council will include FRG Principal Dessa Glasser. Glasser, who is also a Board Member for Oppenheimer & Co. and on the Advisory Board for Xoriant, is one of five data experts who will discuss strategic sourcing and management of Legal Entity Reference Data. The panel represents a
- [Economic Research and Stress Testing](https://www.frgrisk.com/news-and-events/economic-research-and-stress-testing/) - Stress testing the country’s banks provides a valuable measurement of how well the banks would perform under unfavorable conditions. In order for the tests to give the most accurate picture of potential vulnerabilities, Federal Reserve officials don’t disclose the specific models used to crunch those numbers. James McAndrews, director of research at the Federal Reserve
- [Dodd Frank Creators Weigh In On Law For Its Fifth Anniversary](https://www.frgrisk.com/news-and-events/dodd-frank-creators-weigh-in-on-law-for-its-fifth-anniversary/) - The Dodd-Frank law turned five years old in July, and its sponsors say they are pleased with what the financial legislation has accomplished. Former Sen. Christopher Dodd and former Rep. Barney Frank discussed the law, its importance and its shortfalls with The Wall Street Journal. Click here to read the article.
- [Survey of Chief Risk Officers Reveals Top Concerns](https://www.frgrisk.com/news-and-events/survey-of-chief-risk-officers-reveals-top-concerns/) - A new survey conducted by American Banker Research provides insight into the responsibilities of risk managers from banks with assets of less than $100 million to more than $10 billion. They answered questions about the tasks that require the biggest chunk of their time, their top challenges, and more. To read the survey, visit AmericanBanker.com.
- [The Fed Plans to Test Banks' Response to Negative Interest Rates](https://www.frgrisk.com/news-and-events/the-fed-plans-to-test-banks-response-to-negative-interest-rates/) - The Federal Reserve has announced its plans to test the ability of the country’s largest banks to weather a prolonged period of negative interest rates. As reported in Bloomberg Business, the Fed wants reassurance from this year’s stress test that these banks can withstand the economic scenarios typical of a severe global recession, which could
- [Quantifying the Value of Electricity Storage](https://www.frgrisk.com/news-and-events/quantifying-the-value-of-electricity-storage/) - ABSTRACT: This research discusses the methodology developed to hedge volatility or identify opportunities resulting from what is normally a discussion constrained to the capital markets. However, the demand (and the associated volatility) for electricity in the United States has never been more pronounced. The upcoming paper, “Quantifying the Value of Electricity Storage,” will examine the
- [Real Time Learning: A Better Approach to Trader Surveillance](https://www.frgrisk.com/news-and-events/real-time-learning-a-better-approach-to-trader-surveillance/) - An often-heard question in any discussion of Machine Learning (ML) tools is maybe most obvious one: “So, how can we use them?” The answer depends on the industry, but we think there are especially useful (and interesting) applications for the financial services sector. These consumers have historically been open to the ML concept but haven’t
- [Macroeconomic Effects on the Modeling of Private Capital Cash Flows](https://www.frgrisk.com/news-and-events/macroeconomic-effects-on-the-modeling-of-private-capital-cash-flows/) - The demand of private capital investing has investors clamoring for more information about prospective cash flows. Historically, that data has been hard to estimate. Because the investments aren’t traded on a public venue, there are few figures generated beyond the data received by existing investors. So what’s an investor to do? FRG has developed a
- [Chaudhry Earns SCR® Certificate](https://www.frgrisk.com/news-and-events/chaudhry-earns-scr-certificate/) - FRG Risk Consultant Deepika Chaudhry has earned the Sustainability and Climate Risk (SCR®) Certificate issued by GARP. She is the first in FRG to do so. GARP writes that the SCR® program "challenges candidates to understand and apply a range of knowledge and skills necessary to function effectively as a sustainability and climate risk specialist." The organization developed the
- [CDO & Data Leaders' Global Summit 2021](https://www.frgrisk.com/news-and-events/cdo-data-leaders-global-summit-2021/) - FRG Principal Dessa Glasser will be a speaker and panelist at the upcoming CDO & Data Leaders' Global Summit 2021 on May 5. The event is co-hosted by CDO Magazine and EDM Council, and will bring together data management and analytics professionals to discuss topics that include: CDO 2030 Data Management and Analytic Best Practices
- [FRG Announces Strategic Reorganization](https://www.frgrisk.com/news-and-events/frg-announces-strategic-reorganization/) - Cary, NC February 1, 2021—FRG, a global leader in risk management consulting services, today announced strategic changes to the organization to help the company build upon its core services, enhance client value, and ensure future growth. The move creates adjustments to the executive leadership team and a new line of business: Tim Weeks will take
- [EDM Council Women in Data Virtual Event, Oct. 1, 2020](https://www.frgrisk.com/news-and-events/edm-council-women-in-data-virtual-event-oct-1-2020/) - The EDM Council Women in Data group, co-chaired by FRG Principal Dessa Glasser, is hosting a virtual Happy Hour event on Thursday, Oct. 1 at 5:30 p.m. ET. The event is currently open for registration. Agenda: Introduction by Women in Data Global co-Presidents Small breakout rooms for professional networking Ice-breaker game Q&A/Updates by Women in
- [FRG Participates In WatersTechnology.com Innovation Exchange Virtual Event](https://www.frgrisk.com/news-and-events/frg-participates-in-waterstechnology-com-innovation-exchange-virtual-event/) - FRG Principal Dessa Glasser will participate in the WatersTechnology.com Innovation Exchange virtual event this week, with panels scheduled for Sept. 15 and 15, 2020. Watch for her sessions: 1. Tuesday, September 15 at 10:30 a.m. – 11:15 a.m. ET - "Why Data Standards Matter : a 360 Overview” 2. Wednesday, September 16 at 8 a.m. – 9:00
- [Data Management Summit USA Virtual, Sept. 29-30, 2020](https://www.frgrisk.com/news-and-events/data-management-summit-usa-virtual-sept-29-30-2020/) - FRG Principal Dessa Glasser will moderate a panel for the Data Management Summit USA Virtual conference, which will explore how sell side and buy side financial institutions are navigating the global crisis and adapting their data strategies to manage in today’s new normal environment. The Sept. 29 panel, "Know your customer – how to get
- [Skiba Earns AWS Certification](https://www.frgrisk.com/news-and-events/skiba-earns-aws-certification/) - Congratulations to Henry Skiba, Director of Risk & Analytical Services for FRG’s APAC Region, who has passed the rigorous exam for AWS Certified Solutions Architect - Professional. This certification is designed for professionals who use their skills and expertise to help develop advanced cloud-based solutions and migrate existing workloads to the cloud. It validates experience
- [IoT Slam 2020 Virtual Internet of Things Conference Aug. 19, 2020](https://www.frgrisk.com/news-and-events/iot-slam-2020-virtual-internet-of-things-conference-aug-19-2020/) - FRG Principal Dessa Glasser has been invited to share her expertise in data strategy, governance and operations to show how data can be organized and leveraged to create value in a panel discussion for the IoT Slam 2020 Virtual Internet of Things Conference planned for August 19. The panel, "Solving the Data (meaning) Dilemma for IoT," is
- [Glasser to Moderate Customer Data Panel Discussion](https://www.frgrisk.com/news-and-events/glasser-to-moderate-customer-data-panel-discussion/) - Dessa Glasser, FRG Principal and Independent Board Member for Oppenheimer Holdings Inc., will serve as panel moderator for the Data Management Summit 2020 virtual event, scheduled for Sept. 29-30. The panel, "Know Your Customer - How to Get Your Customer Data to Support Regulatory Compliance and a Digital Customer Experience," will review best practice approaches to
- [NAFCU Webinar: Credit Loss in the Time of COVID-19](https://www.frgrisk.com/news-and-events/nafcu-webinar-credit-loss-in-the-time-of-covid-19/) - FRG participated in a webinar on June 4 for the National Association of Federally-Insured Credit Unions, which focused on techniques and resources available to credit unions to help them weather the current economic storm. The webinar, “Credit Loss in the Time of COVID-19,” featured thought leaders from SAS and FRG, including Jonathan Leonardelli, FRG’s Director
- [FRG Principal Speaks at International Women's Day Career Panel](https://www.frgrisk.com/news-and-events/frg-principal-speaks-at-international-womens-day-career-panel/) - via Barclays On Thursday March 5, 2020, the Women’s Initiative Network and Women in Technology organizations at Barclays hosted a career panel in Whippany, NJ to mark International Women’s Day. FRG Principal Dessa Glasser was one of the panel speakers. The event was kicked off by Augusta Sanfilippo, Managing Director, Operations Technology, and moderated by Gretchen
- [The Financial Risk Group Is Now FRG](https://www.frgrisk.com/news-and-events/the-financial-risk-group-is-now-frg/) - We’re making it official: After more than a decade of operating as “The Financial Risk Group,” we’re changing our name to reflect what our clients have called us since the early days. We are excited to formally debut our streamlined “FRG” brand and logo. Read more about what is changing - and what is not
- [Will Kerr Joins FRG](https://www.frgrisk.com/news-and-events/will-kerr-joins-frg/) - FRG is pleased to welcome Will Kerr, who has joined the company as Manager of Sales and Strategic Accounts. For 10 years Will has helped Financial Institutions find solutions to their most complex issues in risk management, financial crimes prevention, capital management and risk data aggregation. He has helped his clients navigate on-prem, cloud and hybrid deployments within
- [Women in Data Group Aims to Help Women Achieve Industry Leadership Roles](https://www.frgrisk.com/news-and-events/women-in-data-group-aims-to-help-women-achieve-industry-leadership-roles/) - Dessa Glasser, FRG Principal, is co-chairing a new Women in Data interest group for the EDM Council that aims to advance the role of women in data management. The goal is to help more women achieve leadership positions in data. "We want to help women get the skill sets they need to get ahead," Glasser
- [Granack Earns SAS® Viya® 3.4 Certification](https://www.frgrisk.com/news-and-events/granack-earns-sas-viya-3-4-certification/) - FRG Risk Consultant William “BJ” Granack has earned certification as a “SAS® Viya® 3.4 Ninja” for completing the intensive training courses within the SAS® Viya® 3.4 Post Sales curriculum. The program is designed to give SAS partners like FRG a deeper understand of the entire SAS Viya product. Participants were required to complete multiple e-learning
- [Enterprise Management 360 "Data Transforming Business" PODCAST features FRG's Jimmie Lenz](https://www.frgrisk.com/news-and-events/enterprise-management-360-data-transforming-business-podcast-features-frgs-jimmie-lenz/) - Data visualization isn't just for big financial institutions anymore. Companies like FRG's partner, SAS, have made this technology available for organizations of all sizes ... small, medium AND large. Listen to the podcast to learn more about the current state of data visualization and how it's being used to transform data into easily consumable insights
- [Lenz Named Academic Director of the Financial Technology Graduate program at Duke's Pratt School of Engineering](https://www.frgrisk.com/news-and-events/lenz-named-academic-director-of-the-financial-technology-graduate-program-at-dukes-pratt-school-of-engineering/) - Dr. Jimmie Lenz, FRG Principal, has been named Academic Director of the Financial Technology Graduate program at Duke University’s Pratt School of Engineering, which will welcome its first class in the Fall of 2020. This is a unique opportunity at one of the top universities and engineering schools in the country, and engages Lenz in
- [Dessa Glasser Named "Director to Watch"](https://www.frgrisk.com/news-and-events/dessa-glasser-named-director-to-watch/) - Dessa Glasser, an FRG Principal and Independent Board Member of Oppenheimer & Co. Inc, has been recognized as a “Director to Watch” in Directors & Boards magazine. In the article, Glasser speaks to the importance of risk taking and diversity. Dessa joined FRG in 2017. She has more than 30 years of experience designing and
- [CECL—The Power of Vintage Analysis](https://www.frgrisk.com/news-and-events/cecl-the-power-of-vintage-analysis/) - Performing vintage analysis provides insight into the segments FI's should identify in advance of CECL. Not only do the resulting graphs provide useful information, but the process itself also requires thought on how to prepare the data. Read about why this is important in Jonathan Leonardelli's latest post on the FRG blog, CECL—The Power of
- [CECL - Questions to Consider When Selecting Loss Methodologies](https://www.frgrisk.com/news-and-events/cecl-questions-to-consider-when-selecting-loss-methodologies/) - The FASB requirement is vague, but determining appropriate loss methodologies in advance of CECL doesn't have to be scary. Read FRG's latest blog, "CECL- Questions to Consider When Selecting Loss Methodologies" for a list of questions that can help narrow the field.
- [CECL—The Caterpillar to Butterfly Evolution of Data for Model Development](https://www.frgrisk.com/news-and-events/cecl-the-caterpillar-to-butterfly-evolution-of-data-for-model-development/) - As a financial institution gears up for CECL, it needs to make sure all of its "dirty data" has been scrubbed and made model ready. Jonathan Leonardelli, FRG's Director of Business Analytics, has written a new post about why this step is critical to an FI's modeling and analytics work. Read this entry, the latest
- [The Importance of Technical Communication](https://www.frgrisk.com/news-and-events/the-importance-of-technical-communication/) - Poor communication skills are considered a major shortcoming for job applicants in the technology and finance domains. What can companies do to nurture these skills in their employees? Samantha Zerger introduces a new series on the FRG blog today that examines the importance of soft skills in the workplace.
- [Does the Liquidity Risk Premium Still Exist in Private Equity?](https://www.frgrisk.com/news-and-events/does-the-liquidity-risk-premium-still-exist-in-private-equity/) - FRG has recently been investigating the dynamics of the private capital markets. Our work has led us to a ground-breaking product designed to help allocators evaluate potential cash flows, risks, and plan future commitments to private capital. Learn more here and read about the company's modeling efforts in this FRG white paper, “Macroeconomic Effects On The Modeling
- [Private Equity and Debt Liquidity, the 'Secondary' Market](https://www.frgrisk.com/news-and-events/private-equity-and-debt-liquidity-the-secondary-market/) - A significant consideration in several aspects of Private Equity and Private Debt has been attributed to the liquidity (or lack thereof) of these investments. The liquidity factor has been cited as a basic investment decision, influencing complex pricing, return of investment and financial risk management. But as the environment has changed and matured, is liquidity
- [Change in CECL Approved by the FDIC](https://www.frgrisk.com/news-and-events/1339/) - The Federal Deposit Insurance Corporation (FDIC) has approved a measure that will allow a three-year phase in of the impact of CECL on regulatory capital. Read about the implications of this decision on the FRG blog, "Change in CECL Approved by the FDIC."
- [IFRS 17: Killing Two Birds](https://www.frgrisk.com/news-and-events/ifrs-17-killing-two-birds/) - Compliance with IFRS 17 will cost insurers time, manpower and money – but it will also provide them with analytics to gain better business insights. Read "IFRS 17: Killing Two Birds" on the FRG blog.
- [Glasser To Lead Women in Technology Session](https://www.frgrisk.com/news-and-events/glasser-to-lead-women-in-technology-session/) - Dessa Glasser, FRG Principal, will moderate the “Women in Technology and Data” breakfast discussion at the Waters USA event for technology leaders on Dec. 3 in New York City. Glasser led a similar session that kicked off the WatersTechnology Buy Side Conference in October, which proved so popular that event organizers brought it back. Glasser,
- [Lenz to Give Keynote Speech at Olin Business School](https://www.frgrisk.com/news-and-events/lenz-to-give-keynote-speech-at-olin-business-school/) - Dr. Jimmie Lenz, FRG Principal, has been selected to give the keynote address at Washington University's Olin School of Business Graduation Recognition Ceremony on Saturday, Dec. 8. Lenz earned his master of science in finance and a doctorate in business administration from the school. Lenz, an experienced executive, lecturer, and scholar in the field of
- [FRG Presents at 2018 Canadian Risk Forum](https://www.frgrisk.com/news-and-events/frg-presents-at-2018-canadian-risk-forum/) - Representatives from FRG’s leadership team will present at the 2018 Canadian Risk Forum, planned next week in Toronto, Canada, bringing their expertise in machine learning, risk management and data governance / analytics to an audience of senior risk professionals and industry experts. Dr. Dessa Glasser, Dr. Jimmie Lenz and Jonathan Leonardelli are speaking at this
- [FRG To Sponsor Symposium on Dynamical Systems and Related Fields](https://www.frgrisk.com/news-and-events/frg-to-sponsor-symposium-on-dynamical-systems-and-related-fields/) - The Financial Risk Group will sponsor the “Symposium on Dynamical Systems and Related Fields: From Waterloo to the World and Back” at the University of Waterloo in Ontario, Canada, May 15 – 18. FRG Principal Sanjiv Talwar, part of the organizational committee, will speak at the symposium, which is being held in honor of Professor Navaratnam
- [New Machinist Journal, "Where Machine Learning and Traditional Corporate Finance Meet"](https://www.frgrisk.com/news-and-events/new-machinist-journal-where-machine-learning-and-traditional-corporate-finance-meet/) - While much of the discussion about Machine Learning concerns theoretical applications and experimentation, there are practical uses already in place. Download the latest issue of New Machinist Journal, "Where Machine Learning and Traditional Corporate Finance Meet," to read about how FRG is using this innovative technology to improve understanding of Private Capital investments. This is
- [FRG Welcomes New NEET Trainees](https://www.frgrisk.com/news-and-events/frg-welcomes-new-neet-trainees/) - Financial Risk Group is pleased to announce and welcome its new class of New Employee Excellence Training (NEET) consulting trainees. Juan Venegas, Andrew Moser and Raleigh Armstrong will study under the mentorship and supervision of experienced FRG consultants to learn risk management technology, methodology and processes. FRG is currently teaching two NEET classes. Jannie Khoo, Eu
- [Glasser to Moderate Panel at Data Management Summit](https://www.frgrisk.com/news-and-events/glasser-to-moderate-panel-at-data-management-summit/) - Dessa Glasser, FRG Principal, will moderate a panel session at the Data Management Summit in New York City on September 20, 2018. Glasser will lead a group of industry experts in their discussion of “Reviewing the Regulatory Landscape: The data management response for 2018 and beyond.” Points that the panel plans to cover include: Impact
- [New NEET Consulting Trainees for FRG](https://www.frgrisk.com/news-and-events/new-neet-consulting-trainees-for-frg/) - Ian Oglesby and Mathew Snyder have joined the Financial Risk Group as New Employee Excellence Training (NEET) Consulting Trainees. FRG’s NEET training program provides early support, guidance, experience and the basic tools necessary to strengthen the foundation upon which new hires build their careers. The program's aims are to establish a consistent, organization-wide orientation program
- [New NEET Consulting Trainee for FRG](https://www.frgrisk.com/news-and-events/new-neet-consulting-trainee-for-frg/) - William Evans Price has joined the Financial Risk Group as a New Employee Excellence Training (NEET) Consulting Trainee. FRG’s NEET training program provides early support, guidance, experience and the basic tools necessary to strengthen the foundation upon which new hires build their careers. The program's aims are to establish a consistent, organization-wide orientation program that:
- [New NEET Consulting Trainees for FRG](https://www.frgrisk.com/news-and-events/new-neet-consulting-trainees-for-frg-2/) - The Financial Risk Group welcomes its Summer 2016 class of New Employee Excellence Training (NEET) consulting trainees. Jared Carter, Vahid Behrouzi, Jeffrey Winkle, and Kevin Glover have begun studying under the mentorship and supervision of experienced FRG consultants to learn risk management technology, methodology and processes. Jared Carter is a recent graduate of University of
- [FRG NEET Class Earns SAS Certifications](https://www.frgrisk.com/news-and-events/frg-neet-class-earns-sas-certifications/) - All six participants of FRG’s current NEET (New Employee Excellence Training) class have earned certifications as programmers for SAS 9. Offered through the SAS Global Certification program, the designations represent experience and knowledge in programming and data management. The program is recognized around the world as a universal standard for measuring SAS software knowledge. Those
- [FRG NEET Class Tours SAS Campus](https://www.frgrisk.com/news-and-events/frg-neet-class-tours-sas-campus/) - FRG's summer 2017 NEET (New Employee Excellence Training) trainees toured the SAS campus recently, gaining an insider's look into the operations of one of our company's important partners. Special thanks to Alliance Manager Andrew Lockhart (left), FRG's SAS partner representative, and John Shannon (second from right), Sr. Briefing Center Services Coordinator at SAS and our
- [NEET Trainees Finish On-Site Training](https://www.frgrisk.com/news-and-events/neet-trainees-finish-on-site-training/) - Financial Risk Group hosted four Canadian employees at its Cary headquarters for two months while they underwent NEET (New Employee Excellence Training) "boot camp" and successfully studied for the Base and Advanced SAS 9 exams. They recently returned to Toronto to finish their studies. The Canadian contingent -- Chris Cai, Nicholas Gurpersaud, Andrei Krautsou, and
- [Lenz To Speak On Blockchain Panel](https://www.frgrisk.com/news-and-events/lenz-to-speak-on-blockchain-panel/) - Dr. Jimmie Lenz, Principal with the Financial Risk Group, will participate in a panel discussion on Enterprise Applications of Blockchain in New York City on July 18, 2018. The event is hosted by BCG Digital Ventures. Lenz is an experienced executive, lecturer, and scholar in the field of banking and capital markets and has been
- [Lenz To Serve as Adjunct Professor at USC](https://www.frgrisk.com/news-and-events/lenz-to-serve-as-adjunct-professor-at-usc/) - FRG Principal Dr. Jimmie Lenz will teach a class on Financial Innovation this Fall as an Adjunct Professor in the Finance Department at the Darla Moore School of Business at the University of South Carolina. Lenz will leverage his more than 25 years of industry and academic experience to provide students with a good perspective
- [Dessa Glasser Leads Training Session](https://www.frgrisk.com/news-and-events/dessa-glasser-leads-training-session/) - FRG Principal Dessa Glasser is one of the featured educators participating in the "Data Governance: Latest Developments and Best Practice" training course June 20-21 in New York. The event is hosted by Waters Technology. Dessa will lead the "Implementing a Data Governance Framework" session, focusing on data governance models, managing data ownership, improving data accuracy
- [Dessa Glasser Appointed to Board of Directors of Oppenheimer Holdings Inc.](https://www.frgrisk.com/news-and-events/dessa-glasser-appointed-to-board-of-directors-of-oppenheimer-holdings-inc/) - Dessa Glasser, Principal with The Financial Risk Group, Inc., has been appointed as an Independent Member of the Board of Directors of Oppenheimer Holdings Inc. Oppenheimer Holdings Inc. (OPY on the New York Stock Exchange), and its affiliates provide a full range of wealth management, securities brokerage and investment banking services to high-net-worth individuals, families,
- [FRG Attends LinkBridge Global Investors Annual Meeting](https://www.frgrisk.com/news-and-events/frg-attends-linkbridge-global-investors-annual-meeting/) - Representatives from The Financial Risk Group will participate in the LinkBridge Global Investors Annual Meeting on May 16 and 17. Dominic Pazzula, FRG’s Director of Product Development, and Matt Felix, FRG’s Director of Business Development, will attend the event in New York City, marketing FRG’s VOR Risk Premia product. Mr. Pazzula will moderate a panel
- [FRG Consultants to Present at SAS® Global Forum 2018](https://www.frgrisk.com/news-and-events/frg-consultants-to-present-at-sas-global-forum-2018/) - The Financial Risk Group will be well represented at the SAS® Global Forum 2018 next month, when two of our employees lead presentations at the learning and networking conference. More than 5,000 SAS professionals are expected to attend the annual event, this year held in Denver, Colorado. Jeff Dyson, FRG Senior Consultant, is presenting “An
- [FRG Sets Timeline for Moving Into New Headquarters](https://www.frgrisk.com/news-and-events/frg-sets-timeline-for-moving-into-new-headquarters/) - The Financial Risk Group, Inc. will move into its new global headquarters, located at 264 W. Chatham Street, in mid April. The move will centralize the firm’s US-based employees in a single location and allow for future expansion. Since the September groundbreaking, the building, which formerly housed a retail shop, has undergone a major renovation
- [Dessa Glasser Presents at TXF Singapore 2018](https://www.frgrisk.com/news-and-events/dessa-glasser-presents-at-txf-singapore-2018/) - FRG Principal Dessa Glasser was invited to speak at the TXF Singapore 2018 Trade, Treasury and Commodity Finance conference, a 2-day networking trade conference held in Singapore Feb. 29 - March 1. Glasser's presentation, "Managing Risk in a Globalized Commodity Market," explained how effective management of risk is one of the key challenges facing commodity
- [Dessa Glasser Joins FRG](https://www.frgrisk.com/news-and-events/dessa-glasser-joins-frg/) - The Financial Risk Group, Inc., is happy to announce that Dessa Glasser, Ph.D., has joined the company as a principal consultant in New York, New York. She will develop risk management and data solutions for the company’s growing global client base, drawing upon her 25 years of experience designing and implementing innovative solutions in risk,
- [Lenz Participates in CFANC Panel](https://www.frgrisk.com/news-and-events/lenz-participates-in-cfanc-panel/) - Dr. Jimmie Lenz, a prinicpal with FRG, spoke at the CFA Society North Carolina in Charlotte on Wednesday, Oct. 25, as part of the "Future of Finance Series: Leveraging Technology for the Future of Finance. Lenz is a panelist discussing "Portfolio Management & Research: The Impact of Big Data & Artificial Intelligence on Investment Decision-Making." CFANC explains, "Big
- [FRG To Host Blood Drive on Nov. 14, 2017](https://www.frgrisk.com/news-and-events/frg-to-host-blood-drive-on-nov-14-2017/) - FRG is teaming with the Mayton Inn to host a blood drive for the American Red Cross. We will have a mobile blood donation bus onsite at our company headquarters in Cary, 320 S. Academy Street, on Tuesday, Nov. 14 from 10 a.m. - 2:30 p.m. Please consider joining us. Scheduling an appointment is easy:
- [FRG Breaks Ground On New Headquarters](https://www.frgrisk.com/news-and-events/frg-breaks-ground-on-new-headquarters/) - Partners from The Financial Risk Group were joined by Town of Cary officials, Town Council members and representatives from the Cary Chamber of Commerce to officially break ground on a new 11,000 square foot facility which will serve as global headquarters for the local company. FRG is expected to move operations to its new headquarters
- [FRG Sponsors Pacific Northwest Institutional Investor Forum](https://www.frgrisk.com/news-and-events/frg-sponsors-pacific-northwest-institutional-investor-forum/) - Financial Risk Group was the title sponsor for the Pacific Northwest Institutional Investor Forum, held last week in Portland, Oregon. Dominic Pazzula and Matt Felix represented FRG at the forum, participating in a full agenda of interest to the institutional investment market. Key discussion topics included major economic trends, asset allocation and risk management, ESG
- [Dr. Jimmie Lenz joins FRG](https://www.frgrisk.com/news-and-events/dr-jimmie-lenz-joins-frg/) - The Financial Risk Group, Inc. (“FRG”) is pleased to announce that Dr. Jimmie H. Lenz is joining the firm as a principal in Charlotte, North Carolina. Lenz, who has held a number of senior management roles within the finance community, will work closely with FRG’s growing global client base to develop risk management solutions. His
- [FRG To Sponsor Pacific Northwest Institutional Investor Forum](https://www.frgrisk.com/news-and-events/frg-to-sponsor-pacific-northwest-institutional-investor-forum/) - Financial Risk Group will be the title sponsor for the Pacific Northwest Institutional Investor Forum in Portland, OR on September 14. The forum is an educational initiative for the region’s leading institutional investors, and will feature speakers presenting on major economic trends, asset allocation and risk management, private equity allocation trends, and more. FRG’s VOR
- [Solar Eclipse 2017](https://www.frgrisk.com/news-and-events/solar-eclipse-2017/) - Our consultants wouldn't risk missing the great solar eclipse of 2017. We had a great view in Cary, North Carolina -- clear skies and about 93 percent total coverage. Thanks Wendy Cutler, Martin Hampson, and Jasmine Ma for the pictures.
- [Skiba Earns AWS Certified Solutions Architect - Associate Certification](https://www.frgrisk.com/news-and-events/skiba-earns-aws-certified-solutions-architect-associate-certification/) - FRG is pleased to publicly congratulate one of its employees, Henry Skiba. Henry, a risk consultant based in Financial Risk Group’s Malaysia office, has become an AWS Certified Solutions Architect - Associate. He passed a rigorous exam to earn this certification, which recognizes IT professionals with the technical skills to design, deploy, and operate applications
- [FRG Sponsors Great Plains Institutional Investor Forum](https://www.frgrisk.com/news-and-events/frg-sponsors-great-plains-institutional-investor-forum/) - Financial Risk Group was a platinum sponsor for the 4th Annual Great Plains Institutional Investor Forum, held last week in Minneapolis, MN. The forum is an educational initiative designed through coordination with the region’s leading institutional investors to build a network of peer communities that “merge global best practices with local expertise,” per Markets Group,
- [Financial Risk Group Named SAS 2017 Canada and Latin America Regional Partner of the Year](https://www.frgrisk.com/news-and-events/frg-named-sas-2017-canada-and-latin-america-regional-partner-of-the-year/) - Financial Risk Group was recognized as SAS 2017 Canada and Latin America Regional Partner of the Year at an awards ceremony held during SAS® Global Forum in Orlando, Florida in April. “Last year was a big one for FRG,” said Mike Forno, an FRG Partner and Senior Director of Sales. “We celebrated our 10 year anniversary, surpassed
- [FRG to sponsor SAS Institute's first Financial Services Executive Summit](https://www.frgrisk.com/news-and-events/frg-to-sponsor-sas-institutes-first-financial-services-executive-summit/) - CARY, North Carolina - March 1, 2010 - The Financial Risk Group (FRG) is sponsoring the first SAS Financial Services Executive Summit being held at the new Executive Briefing Center at SAS's World Headquarters in Cary, NC. The Summit is an invite only event targeting an intimate group of senior executives from the financial services
- [FRG executives attended SAS Executive Conference](https://www.frgrisk.com/news-and-events/frg-executives-attended-sas-executive-conference/) - FRG owners, Ron Holanek and Mike Forno attended the executive conference in San Francisco. This conference is designed for leaders looking for fresh ideas and perspectives. Some of the 2013 topics covered this year were: Big data,analytics, high performance analytics and performance management. For more information on this conference, please visit their main website.
- [FRG Sponsored SAS Financial Forum in Cary](https://www.frgrisk.com/news-and-events/frg-sponsored-sas-financial-forum-in-cary/) - FRG was a proud sponsor of the 2013 SAS Financial Forum, this year in April. This forum is designed into interactive sessions allowing the participants the opportunity to collaborate and learn from other executives in the financial service industries. Some of the guest speakers were: Nate Silver, Martha Jane (MJ) Avstreih-Ross, Kathryn Black, James Miller,
- [FRG and SAS Help BB&T Manage Risk Concentrations](https://www.frgrisk.com/news-and-events/frg-and-sas-help-bbt-manage-risk-concentrations/) - CARY, North Carolina - September 1, 2010 - The Financial Risk Group (FRG) has been working in conjunction with SAS Institute to deliver a risk platform at BB&T which will help them better manage risk concentrations and comply with regulatory reporting requirements. The project started over a year ago and along the way SAS risk
- [FINCAD Launches Ground-Breaking Financial Analytics and Risk Solution - F3 SDK](https://www.frgrisk.com/news-and-events/fincad-launches-ground-breaking-financial-analytics-and-risk-solution-f3-sdk/) - Vancouver, BC - March 4 2010 - FINCAD, the industry standard for financial analytics, announces the launch of its next generation derivatives analytics solution for software developers, F3 SDK. F3 SDK is a software development kit that provides developers with the ability to embed FINCAD's most flexible analytics solution into new and existing systems. Suitable
- [RRG and FINCAD Strengthen Partnership and Deliver Superior Value to Their Clients](https://www.frgrisk.com/news-and-events/rrg-and-fincad-strengthen-partnership-and-deliver-superior-value-to-their-clients/) - CARY, North Carolina - December 10, 2009 - The Financial Risk Group (FRG) has been working with FINCAD analytics for many years and has recently formalized a partnership with FINCAD that will allow the two companies to continue delivere superior value to their joint clients, now in a more formalized way. On the heels of
- [FRG Joins Adopt A Spot Program](https://www.frgrisk.com/news-and-events/frg-joins-adopt-a-spot-program/) - The Financial Risk Group is pleased to join the Town of Cary in its efforts to keep downtown clean and free of litter. FRG is participating in the town’s Adopt A Spot program, designed to keep Cary “clean and forever green.” The company has agreed to host quarterly litter sweeps on a mile and a
- [Consultants Earn Advanced Certification](https://www.frgrisk.com/news-and-events/consultants-earn-advanced-certification/) - FRG congratulates the following employees who have passed the SAS Certified Advanced Programmer for SAS 9 certification. Zhang Min Chow, Dao Shyan Liew, Carmen Loh, Jayden Pang, and PengKent Woon, based in FRG’s Malaysia office, and Andrew Gannon, based in Cary, have all passed a rigorous exam that demonstrates a high level of proficiency in programming
- [FRG opens Malaysia office](https://www.frgrisk.com/news-and-events/frg-opens-malaysia-office/) - The Financial Risk Group Inc. (FRG) is pleased to announce the incorporation of its first office in the Asia Pacific region. FRG has chosen Kuala Lumpur, Malaysia, as the site of its new wholly-owned subsidiary. The move to incorporate and establish operations improves the company’s ability to consult with its existing partners and financial institution
- [FRG Consultants Earn Advanced SAS Certification](https://www.frgrisk.com/news-and-events/frg-consultants-earn-advanced-sas-certification-2/) - The majority of the consultants for the Financial Risk Group have now earned coveted certifications for their abilities in programming with SAS software. Since the end of 2014, seven additional risk consultants have passed rigorous exams designating them either SAS Certified Base Programmer for SAS 9, or SAS Certified Advanced Programmer for SAS 9. The certification is
- [Journal publishes paper co-authored by Kyriakoulis](https://www.frgrisk.com/news-and-events/journal-publishes-paper-co-authored-by-kyriakoulis/) - Econometric Reviews, a scholarly econometrics journal, has accepted for publication an article co-authored by Kostas Kyriakoulis, an academic consultant for The Financial Risk Group. Kyriakoulis, along with colleagues in the United Kingdom, presented "Inference in the Presence of Redundant Moment Conditions and the Impact of Government Health Expenditure on Health Outcomes in England." The paper,
- [FRG Consultants Earn Advanced SAS Certification](https://www.frgrisk.com/news-and-events/frg-consultants-earn-advanced-sas-certification/) - Brad Alexander and Phil Maychek, risk consultants for The Financial Risk Group, have earned their SAS Certified Advanced Programmer credentials. The designation proves their expertise in SAS programming, particularly in tasks such as using advanced DATA step programming statements and efficiency techniques to solve complex problems; writing and interpreting SAS SQL code; and creating and
- [Weeks and Stoddard attend NCSU showcase](https://www.frgrisk.com/news-and-events/weeks-and-stoddard-attend-ncsu-showcase/) - Tim Weeks and Ann Stoddard attended the North Carolina State University Poole College of Management's Sixth Annual Leadership and Innovation Showcase on April 15th. This very special presentation featured poster presentations in which NCSU students summarized their innovative work in capstone or other project-based courses completed during the current academic year. It was a great
- [New Intern for FRG](https://www.frgrisk.com/news-and-events/new-intern-for-frg/) - Hui Liu has joined the Financial Risk Group as an intern. Hui, who is currently pursuing a degree in mathematics from California Institute of Technology, will be based in California under the direction of Regitze Ladekarl. As part of the program she will research and describe risk analysis methodologies, assist in translating risk analysis methodologies
- [Tim Weeks Named FRG Partner](https://www.frgrisk.com/news-and-events/tim-weeks-named-frg-partner/) - Tim Weeks has been named a partner of the The Financial Risk Group, the company announced this week. He joins Ronald Holanek, John Bell and Mike Forno in leading the Cary-based risk management firm. Weeks, a risk architect, joined FRG in 2007. He provides technical leadership for risk management products for clients across the banking
- [FRG Expands Into Building G](https://www.frgrisk.com/news-and-events/frg-expands-into-building-g/) - The Financial Risk Group is pleased to announce the completion of its recent expansion project. Located behind the firm’s headquarters at 320 S. Academy Street in historic downtown Cary, Building G comprises more than 830 square feet and will provide much needed space to accommodate the company’s growth. “When we bought the office, the garage
- [FRG Announces New Hires](https://www.frgrisk.com/news-and-events/frg-announces-new-hires/) - The Financial Risk Group (FRG) is pleased to announce that Rory Cullen and Frank Ferriola have joined the firm. Mr. Cullen, risk consultant, is a highly proficient lead developer of SAS software with many years of experience in refactoring code, library design, code encapsulation, and project management for investment bank and money manager clients. He
- [FRG Internship Program](https://www.frgrisk.com/news-and-events/frg-internship-program/) - FRG has hired four new interns this summer: Joe Gong, Chris Gonzalez, Sam Henry, and Brenan Martinez. The interns will be working on various products related to stress testing. Their backgrounds in data management, analytical modeling and programming will be utilized heavily. FRG is excited to have them join us this summer.
- [FRG participates in WPI Wall Street Technology forum](https://www.frgrisk.com/news-and-events/frg-participates-in-wpi-wall-street-technology-forum/) - FRG Partner, John Bell was one of the judges for the 2013 WPI Wall Street and Technology forum. This event is sponsored by companies interested in having technology students explore interdisciplinary skills from the WPI business school combined with their technology education. The business panel consisted of employees from BOA, JP Morgan, BNP PariBas, and
- [FRG Employees Completed the Latest FiNCAD Training](https://www.frgrisk.com/news-and-events/frg-employees-completed-the-latest-fincad-training/) - FRG's employees, Henry Skiba and Thomas Panasiewicz have completed the FinCad F3 4.0 training. This new Fincad release is designed to meet regulatory requirements in today's financial landscape. Fincad states that "Basel III, Dodd-Frank, EMIR and other regulations are placing a greater demand for complex risk measurements including accounting for counterparty credit risk/CVA, the margin
- [FRG Employee Leads Webinar](https://www.frgrisk.com/news-and-events/frg-employee-leads-webinar/) - FRG Consultant Jonathan Leonardelli created and presented a webinar for IFSUG on loss forecasting with Markov chains. IFSUG (Insurance and Finance SAS User Group) provides forums for the exchange of information and promotion of new ideas concerning SAS and related products and assist participants in developing SAS skills. The webinar provided a high-level overview of
- [FRG Announces New Certified Employees](https://www.frgrisk.com/news-and-events/frg-announces-new-certified-employees-4/) - FRG is proud to announce, our 3 newest certified SAS Base Programmers: Bradley Alexander, Charles Eline and Phillip Maychek. To pass this certification they had to prove their SAS skills in the following areas: • import and export raw data files • manipulate and transform data • combine SAS data sets • create basic detail
- [FRG Employee completes Risk Dimensions Trainer Certification](https://www.frgrisk.com/news-and-events/frg-employee-completes-risk-dimensions-trainer-certification/) - Consultant Jonathan Leonardelli became certified as a Risk Dimensions trainer. To become certified Jonathan had to present a section of the Analysis course to the Analytical Education group. The audience evaluated his performance based on how he answered questions and the depth of knowledge he had about the produce and risk concepts in general. He
- [SAS Global Forum 2012](https://www.frgrisk.com/news-and-events/sas-global-forum-2012/) - SAS Global Forum 2012 The SAS Global Forum was held in Orlando this year. The forum is intended for SAS users to come together and exchange ideas and explore ways of using SAS software. It is an excellent educational and networking event that started in 1975. There are two categories of paper presented. Technology solutions
- [FRG Announces New Certified Employees](https://www.frgrisk.com/news-and-events/frg-announces-new-certified-employees-2/) - FRG is proud to announce that Avery Long, Remya Vikram and BJ Granack completed their Certification for Advanced Programmer for SAS 9. The certification touches on the following topics: Accessing Data using SQL Macro Processing Advance Programming Techniques For more information on the certification requirements please visit the SAS website: https://support.sas.com/certify/index.html
- [ConceptONE Announces Form PF Preparation and Advisory Services for Private Fund Advisors](https://www.frgrisk.com/news-and-events/conceptone-announces-form-pf-preparation-and-advisory-services-for-private-fund-advisors/) - GARDEN CITY, N.Y., Nov. 2, 2011 /PRNewswire-iReach/-- The final version of Form PF was confirmed by the SEC and the CFTC on October 31, 2011. Since it was initially proposed in January, ConceptONE has been analyzing the requirements of Form PF and has spent a significant amount of time researching the proposed rules and building
- [FRG ramping up offerings for new Financial Services Regulations](https://www.frgrisk.com/news-and-events/frg-ramping-up-offerings-for-new-financial-services-regulations/) - CARY, North Carolina - March 1, 2011 - The Financial Risk Group (FRG) has been busy preparing for the expected demand for technology solutions tailored to new regulations being introduced in the financial services industry. Even before the credit crisis stated in 2008, there was plenty of speculation on how governmental agencies were preparing more
- [RiskONE Provides New Technology and Services for SEC Reporting Proposal](https://www.frgrisk.com/news-and-events/riskone-provides-new-technology-and-services-for-sec-reporting-proposal/) - New York, NY - February 25, 2011 - RiskONE announced today that it is providing enterprise-level portfolio risk management technology, personnel and advisory services to meet proposed SEC reporting requirements for hedge fund managers. RiskONE is offering these services in conjunction with Risk Resources, an industry leading risk management advisor and reporting solution. RiskONE comprehensively
- [FRG partners with Concept Capital Fund Services to Deliver ConceptONE](https://www.frgrisk.com/news-and-events/frg-partners-with-concept-capital-fund-services-to-deliver-conceptone/) - NEW YORK, New York - December 20, 2010 -The Financial Risk Group (FRG) has partnered with Concept Capital to deliver a multi-custodian prime brokerage and risk portal; ConceptONE. The need for such a portal has become increasingly important as transparency into, and consolidated reporting of, assets held across multiple custodian platforms is required due to
- [FRG Launches New Website](https://www.frgrisk.com/news-and-events/frg-launches-new-website/) - CARY, North Carolina - March 16, 2009 - The Financial Risk Group (FRG) launched it's new website today. Designed by award winning strategic branding firm Fabrik Agency, the site is the latest phase of a corporate identity project that Fabrik has been leading for FRG since late last year. "The corporate identity that Fabrik has
- [FRG to Expand Advisory Services Practice](https://www.frgrisk.com/news-and-events/frg-to-expand-advisory-services-practice/) - NEW YORK, New York - March 1, 2009 -The Financial Risk Group (FRG) announced today that Sunil Panikkath has joined FRG as a Director and will be leading the expansion of its risk advisory services practice. Dr. Panikkath will be based in New York. "Based on our clients' needs, our initial focus on risk technology
- [Risk Data Practice Manager Passes FRM Exam](https://www.frgrisk.com/news-and-events/risk-data-practice-manager-passes-frm-exam/) - Cary, North Carolina - January 20, 2009 - Tim Weeks, the manager of FRG's Risk Data practice was part of the 42% of people that passed the 2008 FRM exam. "FRG's commitment to providing consultants that can bridge the gap between technology and business is evident in Tim's achievement. We provide incentives for our employees
- [FRG announced as new brand name for Ron Holanek & Associates Inc.](https://www.frgrisk.com/news-and-events/frg-announced-as-new-brand-name-for-ron-holanek-associates-inc/) - Cary, NC February, 01 2007: Ronald Holanek & Associates Inc., founded by Ronald Holanek, Cary NC is pleased to announce its new brand name and corporate identity ? The Financial Risk Group. The new brand distinguishes the company as a separate entity from its founding members and should position the brand strongly in the risk
- [The Financial Risk Group (FRG) signs reseller agreement with SAS](https://www.frgrisk.com/news-and-events/the-financial-risk-group-frg-signs-reseller-agreement-with-sas/) - The Financial Risk Group (FRG) is proud to announce the establishment of a reseller agreement with SAS Institute. This agreement allows the firm to re-sell SAS risk technologies to clients within specific geographic territories. This agreement gives the firm the flexibility of packaging risk services together with award winning SAS technologies. FRG will offer clients
- [FRG Consultants Earn SAS Programmer Certifications](https://www.frgrisk.com/news-and-events/frg-consultants-earn-sas-programmer-certifications/) - Chelsea Leighton and Mat Snyder, consultants for the Financial Risk Group, have earned professional certifications from SAS. The designation proves their expertise in SAS programming. Chelsea Leighton is now a SAS Certified Base Programmer for SAS® 9. To pass the rigorous examination, she had to prove her knowledge of accessing data, creating data structures, managing
- [FRG Presents at UNCW Business Week](https://www.frgrisk.com/news-and-events/frg-presents-at-uncw-business-week/) - On March 25 FRG employees Ian Oglesby, Mat Snyder, and Ann Stoddard spoke at the University of North Carolina Wilmington for the Cameron School of Business 33rd annual Business Week. The event is designed to provide an “innovative and engaging" experience for students, while giving them a first-hand glimpse into the business world. FRG presented
- [FRG consultants earn SAS certifications](https://www.frgrisk.com/news-and-events/frg-consultants-earn-sas-certifications/) - The Financial Risk Group is pleased to announce that three more consultants have earned credentials for their knowledge of SAS software through the SAS Global Certification program. Ian Oglesby and Mathew Snyder are now SAS Certified Base Programmers for SAS® 9. William Price is now a SAS Certified Advanced Programmer for SAS® 9. These certifications

## Resources

- [Optimal Pacing for Private Capital Portfolios](https://www.frgrisk.com/resources/optimal-pacing-for-private-capital-portfolios/) - Download this technical paper that explains FRG's pacing model which uses PCF cash flows along with non-linear optimization to help clients construct their pacing plans.
- [The Ultimate Guide to Modern CECL Reporting Tools](https://www.frgrisk.com/resources/the-ultimate-guide-to-modern-cecl-reporting-tools/) - Download this guide to best practices and key features for simplifying financial risk reporting.
- [BCBS vs. BNM: Credit Risk Standardised Approach for Individual Exposures](https://www.frgrisk.com/resources/bcbs-vs-bnm-credit-risk-standardised-approach-for-individual-exposures/) - This document provides a detailed, side-by-side comparison of the treatment of individual exposures under the Standardised Approach for Credit Risk, highlighting key differences between the Basel Committee on Banking Supervision (BCBS) standards and Bank Negara Malaysia's (BNM) regulatory requirements within the Capital Adequacy Framework (or Basel III Reforms Framework).
- [Private Capital Fund Cash Flows](https://www.frgrisk.com/resources/private-capital-cash-fund-flows/) - Download an article that explores a potential solution to the problem of accurately forecasting capital call and distribution probabilities.
- [Quantifying Acute Physical Climate Risk](https://www.frgrisk.com/resources/quantifying-acute-physical-climate-risk/) - Orbyfy and FRG have partnered to leverage their complementary strengths in addressing the multifaceted challenges of climate risk management. Read this white paper to see how together, Orbyfy and FRG convert the collateral damage outputs from digital twin simulations into actionable financial insights.
- [Macroeconomic Effects on the Modeling of Private Capital Cash Flows](https://www.frgrisk.com/resources/macroeconomic-effects-on-the-modeling-of-private-capital-cash-flows/) - Download this white paper improving on existing modeling efforts undertaken to address investors' need for Private Capital cash flow information, and some of the methodology applied to achieve the results.
- [Sample Climate Risk Framework for Consumer Lending](https://www.frgrisk.com/resources/sample-climate-risk-framework-for-consumer-lending/) - A Climate Risk susceptibility framework can help your Financial Institution estimate the credit risk impacts of climate risk on your portfolio. Download FRG’s customizable Framework for Consumer Lending (Excel Worksheet) to get started.
- [The Big Picture Brochure](https://www.frgrisk.com/resources/the-big-picture-brochure/) - Download our overview brochure for an in-depth look at who we are and our financial risk management product and service offerings.
- [Basel III Overview](https://www.frgrisk.com/resources/basel-iii-overview/) - Download an overview of the Basel III regulations and how FRG can help.
- [Climate Risk in Banking](https://www.frgrisk.com/resources/3478/) - Learn how climate-related financial risk can significantly affect banks as FRG explores its impacts on loan portfolios using scenario analysis.
- [The Basel Games](https://www.frgrisk.com/resources/the-basel-games/) - Evaluation of Basel I, II and III
- [Solvency II Overview](https://www.frgrisk.com/resources/solvency-ii-overview/) - Download an overview of Solvency II regulations and how FRG can help.
- [Flex and SAS Testing Module](https://www.frgrisk.com/resources/flex-and-sas-testing-module/) - Allows administrators to test SAS infrastructure for a Flex application deployment.
- [FINCAD F3 SDK Brochure](https://www.frgrisk.com/resources/fincad-f3-sdk-brochure/) - Download FINCAD's F3 SDK Brochure to find out more about their new, revolutionry technology.
- [Dodd-Frank Overview](https://www.frgrisk.com/resources/dodd-frank-overview/) - Download an overview of Dodd-Frank regulations and how FRG can help.
- [VOR Overview](https://www.frgrisk.com/resources/vor-visualization-of-risk/) - Download an overview brochure about the VOR (Visualization of Risk) platform designed to help money managers better understand their portfolio risk and performance.
- [VOR Risk Premia Brochure](https://www.frgrisk.com/resources/vor-risk-premia-brochure/) - Download this brochure for more information about FRG's VOR Risk Premia portfolio management tool.
- [VOR Performance Brochure](https://www.frgrisk.com/resources/vor-performance-brochure/) - Download this brochure for more information about FRG's VOR performance and attribution engine.
- [New Machinist Journal Vol. 1](https://www.frgrisk.com/resources/new-machinist-journal-vol-1/) - Download the first in a series of journal articles exploring the New Machinists and their Artificial Intelligence and Machine Learning tools.
- [Real Time Learning: A Better Approach to Trader Surveillance (New Machinist Journal 1, no. 2)](https://www.frgrisk.com/resources/real-time-learning-a-better-approach-to-trader-surveillance-new-machinist-journal-1-no-2/) - Download an issue of the New Machinist Journal examining how Machine Learning could be applied to Trade Desk Surveillance, an area of risk management.
- [The New Machinist’s Process Flow (New Machinist Journal 1, No. 3)](https://www.frgrisk.com/resources/the-new-machinists-process-flow-new-machinist-journal-1-no-3/) - Download an examination of the New Machinist's process flow.
- [The New Machinist’s Toolkit: Heatmaps – Part I (New Machinist Journal 1, No. 4)](https://www.frgrisk.com/resources/the-new-machinists-toolkit-heatmaps-part-i-new-machinist-journal-1-no-4/) - Heatmaps are a visualization technique to help build insight from available data. Download the latest issue to see how they fit in the New Machinist's toolkit.
- [The New Machinist's Toolkit: Heatmaps - Part 2 (New Machinist Journal 1, No. 5)](https://www.frgrisk.com/resources/the-new-machinists-toolkit-heatmaps-part-2-new-machinist-journal-1-no-5/) - Dendrograms are a visualization tool that allows one to view the similarities among objects in addition to the “strength” of the similarity, and are a common addition to heatmaps. Download the latest issue of the New Machinist Journal to see how they can be used together to help identify relationships.
- [VOR Private Capital Forecasting](https://www.frgrisk.com/resources/vor-private-capital-modeling-pcm/) - Download this brochure for more information about FRG's VOR Private Capital Forecasting (PCF).
- [VOR Scenario Builder: Obtaining Business Insight from Scenarios](https://www.frgrisk.com/resources/vor-scenario-builder-facilitating-creativity-in-scenario-building/) - Scenario Analysis is a useful exercise that can help companies with their strategic planning. Download this white paper by Jonathan Leonardelli to read how FRG's VOR Scenario Builder solution streamlines scenario creation to make it easier for companies to use this process more often.
- [VOR Scenario Builder](https://www.frgrisk.com/resources/vor-scenario-builder/) - Download this one page guide to FRG's VOR Scenario Builder, which helps companies determine their exposure to economic events.
- [BB&T manages risk concentration with SAS](https://www.frgrisk.com/resources/bbt-manages-risk-concentration-with-sas/) - Download a customer success story authored by SAS, describing projects delivered jointly with FRG to BB&T.
- [FINCAD Case Study](https://www.frgrisk.com/resources/fincad-case-study/) - Download a case study authored by FINCAD, describing integrated services that FRG has provided to their clients.
- [Dodd-Frank Act: Implications for Risk Professionals](https://www.frgrisk.com/resources/dodd-frank-act-implications-for-risk-professionals/) - Download a white paper prepared by Jonathan Leonardelli, FRM, covering the implications of the Dodd-Frank act for risk professionals.
- [An Introduction to the Improved SAS® Data Integration Studio Batch  Deployment Utility on UNIX](https://www.frgrisk.com/resources/an-introduction-to-the-improved-sas-data-integration-studio-batch-deployment-utility-on-unix/) - Download a white paper prepared by Jeff Dyson, senior consultant, to learn how the updated batch deployment utility in SAS Data Integration Studio 4.901 gives the ETL Tech Lead a more efficient and repeatable method for administering batch jobs.
- [PMML & SAS®: An Introduction to PMML and PROC PSCORE](https://www.frgrisk.com/resources/pmml-sas-an-introduction-to-pmml-and-proc-pscore/) - Download a white paper prepared by Andrew Gannon, risk consultant, to learn more about PMML language and its terminology, as well as an introduction to the PROC PSCORE method in SAS.
- [Sales Practices - Understanding the Behaviors They Incentivize](https://www.frgrisk.com/resources/sales-practices-understanding-the-behaviors-they-incentivize/) - Download a paper by Dr. Jimmie Lenz examining the use of commissions, bonuses, and other incentives to motivate salespeople.
- [Quantifying the Value of Electricity Storage in Dynamic Use Environments](https://www.frgrisk.com/resources/quantifying-the-value-of-electricity-storage-in-dynamic-use-environments/) - Download a paper by Dr. Jimmie Lenz that examines the economics for companies that generate and distribute energy. Part 1 of 2.
- [Quantifying the Value of Electricity Storage in Dynamic Use Environments, Part 2](https://www.frgrisk.com/resources/quantifying-the-value-of-electricity-storage-in-dynamic-use-environments-part-2/) - Download a paper by Dr. Jimmie Lenz that presents potential solutions for companies facing technological and demand changes in the U.S. Electricity Generation industry. Part 2 of 2.
- [The Operational Controls And Processes Tipping Point: Is Machine Learning The Answer?](https://www.frgrisk.com/resources/the-operational-controls-and-processes-tipping-point-is-machine-learning-the-answer/) - Download this white paper that examines how technological advances can create create more efficient process and risk controls.
- [Why Is Trade Desk Surveillance So Challenging?](https://www.frgrisk.com/resources/why-is-trade-desk-surveillance-so-challenging/) - Download this white paper that examines how new technology can help monitor and detect problems at the trade desk.
- [Current Expected Credit Loss: Why The Expectations Are Different](https://www.frgrisk.com/resources/current-expected-credit-loss-why-the-expectations-are-different/) - Download this white paper exploring the shift in risk management approaches brought about by the new CECL standard.
- [Extracting Value from Stress Testing](https://www.frgrisk.com/resources/extracting-value-from-stress-testing/) - FRG Principal Dr. Sanjiv Talwar and Stuart Turnbull explore how firms can benefit by exploring stress testing to examine a wide array of issues in this paper, originally published by the Global Risk Institute.
- [CECL Scenarios: Considerations, Development, and Opportunities](https://www.frgrisk.com/resources/cecl-scenarios-considerations-development-and-opportunities/) - Download this white paper discussing methodologies for achieving the “reasonable and supportable” expected credit loss forecasts required by FASB.
- [The Effect of Private Capital Liquidations - Transactions in the Growing Secondary Market](https://www.frgrisk.com/resources/the-effect-of-private-capital-liquidations-transactions-in-the-growing-secondary-market/) - Download this white paper that explores how accurate modeling of probable Private Equity and Private Debt cash flows can help investors make informed secondary market business decisions.
- [Methodological Considerations For Integrating ECL On a Stress Testing Platform](https://www.frgrisk.com/resources/methodological-considerations-for-integrating-ecl-on-a-stress-testing-platform/) - Financial Institutions (FIs) are challenged to produce stress testing expected credit loss values that comply with IFRS 9 as well as CECL Standards. There are two ways to address this challenge: a technological approach and a methodological approach. This white paper examines both strategies to help you decide on the best action for your FI.
- [Integrating ECL Onto a Stress Testing Platform: Scenarios](https://www.frgrisk.com/resources/integrating-ecl-onto-a-stress-testing-platform-scenarios/) - Integrating an ECL process onto a stress test platform requires careful consideration of several steps, including which scenarios to use and how to define scenario weights. Download this paper to read an overview of the reasoning and decisions FRG made as we implemented our CECL process onto an internal stress test platform.
- [Integrating ECL Onto a Stress Testing Platform: Credit Risk Characteristics](https://www.frgrisk.com/resources/integrating-ecl-onto-a-stress-testing-platform-credit-risk-characteristics/) - There are three considerations an FI should address when considering methodological integration of ECL onto a stress test platform. In part three of this series, FRG examines how credit loss in the ECL process can leverage the changes in the credit risk profile of a portfolio during a stress scenario.
- [Integrating ECL Onto a Stress Testing Platform: Portfolio Composition](https://www.frgrisk.com/resources/integrating-ecl-onto-a-stress-testing-platform-portfolio-composition/) - Financial Institutions must consider several factors when integrating the expected credit loss (ECL) process onto a stress test platform. In this final paper of our series, FRG addresses how to grow a portfolio that is internally consistent with a stress scenario.
- [Updated Pandemic Economic Scenario](https://www.frgrisk.com/resources/updated-pandemic-economic-scenario/) - The global economy is changing rapidly as a result of the Coronavirus Pandemic. As new data has become available, FRG is releasing an updated version of our Pandemic Economic Scenario to help businesses assess and respond to the impact of COVID-19 on their operations. Download this file which provides two scenarios – a pandemic shock
- [Pandemic Economic Scenario](https://www.frgrisk.com/resources/pandemic-scenario/) - FRG has received a number of requests from market participants to help them interpret the impact COVID-19 may continue to have on their businesses. In response, we are offering our Pandemic Economic Scenario for download at no cost. The Scenario contains forecasted macroeconomic variables, for use as-is or with your company's modifications. The zip file also includes
- [Playing With History Can Affect Your Future](https://www.frgrisk.com/resources/playing-with-history-can-affect-your-future/) - How handling missing data can impact parameter estimation and risk measure.
- [Platform Services Overview](https://www.frgrisk.com/resources/platform-services-overview/) - Download information about FRG's Platform Services team, which provides a range of outsourced technology operations for your company's risk products.
- [Superior Returns](https://www.frgrisk.com/resources/superior-returns/) - GIPS Standards help ensure a standardized approach to tracking the performance of an investment portfolio.
- [Why We Love Standards](https://www.frgrisk.com/resources/why-we-love-standards/) - Following a standard lets you focus on investment performance, rather than on its measurement.

## Categories

- [Uncategorized](https://www.frgrisk.com/category/uncategorized/)
- [General](https://www.frgrisk.com/category/frg_blog/)
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- [Basel 3.1 Market Risk](https://www.frgrisk.com/category/basel-3-1-market-risk/)
- [AI](https://www.frgrisk.com/category/ai/)

## Tags

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- [private capital forecasting model](https://www.frgrisk.com/tag/private-capital-forecasting-model/)
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- [financial risk report](https://www.frgrisk.com/tag/financial-risk-report/)
- [financial risk](https://www.frgrisk.com/tag/financial-risk/)
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- [the risk report](https://www.frgrisk.com/tag/the-risk-report/)
- [the financial risk group](https://www.frgrisk.com/tag/the-financial-risk-group/)
- [credit risk analysis](https://www.frgrisk.com/tag/credit-risk-analysis/)
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- [private credit](https://www.frgrisk.com/tag/private-credit/)
- [bank regulation](https://www.frgrisk.com/tag/bank-regulation/)
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- [accounting rules](https://www.frgrisk.com/tag/accounting-rules/)
- [FASB](https://www.frgrisk.com/tag/fasb/)
- [Financial Accounting Standards](https://www.frgrisk.com/tag/financial-accounting-standards/)
- [Basel](https://www.frgrisk.com/tag/basel/)
- [Federal Reserve](https://www.frgrisk.com/tag/federal-reserve/)
- [MDLC](https://www.frgrisk.com/tag/mdlc/)
- [inflation](https://www.frgrisk.com/tag/inflation/)
- [climate change](https://www.frgrisk.com/tag/climate-change/)
- [Model Development Lifecycle](https://www.frgrisk.com/tag/model-development-lifecycle/)
- [Basel III](https://www.frgrisk.com/tag/basel-iii/)
- [UK banking regulations](https://www.frgrisk.com/tag/uk-banking-regulations/)
- [regulatory compliance](https://www.frgrisk.com/tag/regulatory-compliance/)
- [Fundamental Review of the Trading Book FRTB](https://www.frgrisk.com/tag/fundamental-review-of-the-trading-book-frtb/)
- [Basel 3.1](https://www.frgrisk.com/tag/basel-3-1/)
- [banks](https://www.frgrisk.com/tag/banks/)
- [bank vulnerability](https://www.frgrisk.com/tag/bank-vulnerability/)
- [Paris Agreement](https://www.frgrisk.com/tag/paris-agreement/)
- [climate scenario](https://www.frgrisk.com/tag/climate-scenario/)
- [bank failures](https://www.frgrisk.com/tag/bank-failures/)
- [Banking History](https://www.frgrisk.com/tag/banking-history/)
- [NY Fed](https://www.frgrisk.com/tag/ny-fed/)
- [Financial Data](https://www.frgrisk.com/tag/financial-data/)
- [economy](https://www.frgrisk.com/tag/economy/)
- [Fed rates](https://www.frgrisk.com/tag/fed-rates/)
- [climate models](https://www.frgrisk.com/tag/climate-models/)
- [wildfires](https://www.frgrisk.com/tag/wildfires/)
- [California](https://www.frgrisk.com/tag/california/)
- [stress scenarios](https://www.frgrisk.com/tag/stress-scenarios/)
- [California wildfires](https://www.frgrisk.com/tag/california-wildfires/)
- [probability of default](https://www.frgrisk.com/tag/probability-of-default/)
- [loss given default](https://www.frgrisk.com/tag/loss-given-default/)
- [global trade](https://www.frgrisk.com/tag/global-trade/)
- [tariffs](https://www.frgrisk.com/tag/tariffs/)
- [DFAST](https://www.frgrisk.com/tag/dfast/)
- [capital requirement](https://www.frgrisk.com/tag/capital-requirement/)
- [OSFI](https://www.frgrisk.com/tag/osfi/)
- [Risk Weighted Assets](https://www.frgrisk.com/tag/risk-weighted-assets/)
- [AI](https://www.frgrisk.com/tag/ai/)
- [recession](https://www.frgrisk.com/tag/recession/)
- [stocks](https://www.frgrisk.com/tag/stocks/)
- [energy markets](https://www.frgrisk.com/tag/energy-markets/)
- [bank supervision](https://www.frgrisk.com/tag/bank-supervision/)
- [Canadian Banks](https://www.frgrisk.com/tag/canadian-banks/)
- [bank earnings](https://www.frgrisk.com/tag/bank-earnings/)
- [interest rate risk](https://www.frgrisk.com/tag/interest-rate-risk/)
- [asset liability management](https://www.frgrisk.com/tag/asset-liability-management/)
- [ALM](https://www.frgrisk.com/tag/alm/)
- [EU](https://www.frgrisk.com/tag/eu/)
- [European Banks](https://www.frgrisk.com/tag/european-banks/)
- [Economic Growth](https://www.frgrisk.com/tag/economic-growth/)
- [trade](https://www.frgrisk.com/tag/trade/)
- [nature](https://www.frgrisk.com/tag/nature/)
- [mergers and acquisitions](https://www.frgrisk.com/tag/mergers-and-acquisitions/)
- [financial forecasting](https://www.frgrisk.com/tag/financial-forecasting/)
- [PE](https://www.frgrisk.com/tag/pe/)
- [APAC](https://www.frgrisk.com/tag/apac/)
- [Malaysia](https://www.frgrisk.com/tag/malaysia/)
- [BCBS](https://www.frgrisk.com/tag/bcbs/)
- [BNM](https://www.frgrisk.com/tag/bnm/)
- [Basel Committee on Banking Supervision](https://www.frgrisk.com/tag/basel-committee-on-banking-supervision/)
- [Bank Negara Malaysia](https://www.frgrisk.com/tag/bank-negara-malaysia/)
- [Malaysia financial system](https://www.frgrisk.com/tag/malaysia-financial-system/)
- [Canada](https://www.frgrisk.com/tag/canada/)
- [capital markets](https://www.frgrisk.com/tag/capital-markets/)
- [commodity risk](https://www.frgrisk.com/tag/commodity-risk/)
- [ML](https://www.frgrisk.com/tag/ml/)
- [Basel Endgame](https://www.frgrisk.com/tag/basel-endgame/)
- [bonds](https://www.frgrisk.com/tag/bonds/)
- [Bank of Japan](https://www.frgrisk.com/tag/bank-of-japan/)
- [economic anxiety](https://www.frgrisk.com/tag/economic-anxiety/)
- [treasury bond](https://www.frgrisk.com/tag/treasury-bond/)
- [debt](https://www.frgrisk.com/tag/debt/)
- [gold](https://www.frgrisk.com/tag/gold/)
- [central banks](https://www.frgrisk.com/tag/central-banks/)
- [safe haven](https://www.frgrisk.com/tag/safe-haven/)
- [Private Assets](https://www.frgrisk.com/tag/private-assets/)
- [Investment Strategy](https://www.frgrisk.com/tag/investment-strategy/)
- [Retirement Assets](https://www.frgrisk.com/tag/retirement-assets/)
- [Dodd Frank Act](https://www.frgrisk.com/tag/dodd-frank-act/)
- [Fed](https://www.frgrisk.com/tag/fed/)
- [global financial crisis](https://www.frgrisk.com/tag/global-financial-crisis/)
- [bank regulations](https://www.frgrisk.com/tag/bank-regulations/)
- [capital requirements](https://www.frgrisk.com/tag/capital-requirements/)
- [capital ratios](https://www.frgrisk.com/tag/capital-ratios/)
- [stress scenario](https://www.frgrisk.com/tag/stress-scenario/)
- [bank regulators](https://www.frgrisk.com/tag/bank-regulators/)
- [capital](https://www.frgrisk.com/tag/capital/)
- [financial markets](https://www.frgrisk.com/tag/financial-markets/)
- [systemic risk](https://www.frgrisk.com/tag/systemic-risk/)
- [Coding](https://www.frgrisk.com/tag/coding/)
- [Model Risk Management](https://www.frgrisk.com/tag/model-risk-management/)
- [MRM](https://www.frgrisk.com/tag/mrm/)
- [programming](https://www.frgrisk.com/tag/programming/)
- [modular programming](https://www.frgrisk.com/tag/modular-programming/)
- [version control](https://www.frgrisk.com/tag/version-control/)
- [coding best practices](https://www.frgrisk.com/tag/coding-best-practices/)
- [European Central Bank](https://www.frgrisk.com/tag/european-central-bank/)
- [ECB](https://www.frgrisk.com/tag/ecb/)
- [Higher Order Exposures](https://www.frgrisk.com/tag/higher-order-exposures/)
- [Risk Exposure](https://www.frgrisk.com/tag/risk-exposure/)
- [testing](https://www.frgrisk.com/tag/testing/)
- [syntax errors](https://www.frgrisk.com/tag/syntax-errors/)
- [conceptual errors](https://www.frgrisk.com/tag/conceptual-errors/)
- [unit testing](https://www.frgrisk.com/tag/unit-testing/)
- [SIT testing](https://www.frgrisk.com/tag/sit-testing/)
- [UAT testing](https://www.frgrisk.com/tag/uat-testing/)
- [data science](https://www.frgrisk.com/tag/data-science/)
- [best practices](https://www.frgrisk.com/tag/best-practices/)
- [model developing](https://www.frgrisk.com/tag/model-developing/)
- [honed code](https://www.frgrisk.com/tag/honed-code/)
- [honing code](https://www.frgrisk.com/tag/honing-code/)
- [Common Equity Tier 1](https://www.frgrisk.com/tag/common-equity-tier-1/)
- [CET1](https://www.frgrisk.com/tag/cet1/)
- [resolution requirements](https://www.frgrisk.com/tag/resolution-requirements/)
- [global banking](https://www.frgrisk.com/tag/global-banking/)
- [international banks](https://www.frgrisk.com/tag/international-banks/)
- [expected credit loss](https://www.frgrisk.com/tag/expected-credit-loss/)
- [ECL](https://www.frgrisk.com/tag/ecl/)
- [synthetic risk transfer](https://www.frgrisk.com/tag/synthetic-risk-transfer/)
- [SRT](https://www.frgrisk.com/tag/srt/)
- [investor funds](https://www.frgrisk.com/tag/investor-funds/)
- [commercial lending](https://www.frgrisk.com/tag/commercial-lending/)
- [loan portfolios](https://www.frgrisk.com/tag/loan-portfolios/)
- [commercial real estate](https://www.frgrisk.com/tag/commercial-real-estate/)
- [subprime lending](https://www.frgrisk.com/tag/subprime-lending/)
- [economic indicator](https://www.frgrisk.com/tag/economic-indicator/)
- [auto finance](https://www.frgrisk.com/tag/auto-finance/)
- [coding standards](https://www.frgrisk.com/tag/coding-standards/)
- [standardized code](https://www.frgrisk.com/tag/standardized-code/)
- [standards](https://www.frgrisk.com/tag/standards/)
- [comments](https://www.frgrisk.com/tag/comments/)
- [readability](https://www.frgrisk.com/tag/readability/)
- [guidelines](https://www.frgrisk.com/tag/guidelines/)
- [gold prices](https://www.frgrisk.com/tag/gold-prices/)
- [financial analysis](https://www.frgrisk.com/tag/financial-analysis/)
- [asset values](https://www.frgrisk.com/tag/asset-values/)
- [investors](https://www.frgrisk.com/tag/investors/)
- [commodities](https://www.frgrisk.com/tag/commodities/)
- [Technological Innovation](https://www.frgrisk.com/tag/technological-innovation/)
- [Asset Valuation](https://www.frgrisk.com/tag/asset-valuation/)
- [Market Volatility](https://www.frgrisk.com/tag/market-volatility/)
- [credit](https://www.frgrisk.com/tag/credit/)
- [private markets](https://www.frgrisk.com/tag/private-markets/)
- [capital adequacy](https://www.frgrisk.com/tag/capital-adequacy/)
- [lending institutions](https://www.frgrisk.com/tag/lending-institutions/)
- [regulatory change](https://www.frgrisk.com/tag/regulatory-change/)
- [loan data integrity](https://www.frgrisk.com/tag/loan-data-integrity/)
- [fraud](https://www.frgrisk.com/tag/fraud/)
- [auto loans](https://www.frgrisk.com/tag/auto-loans/)
- [loan portfolio risk](https://www.frgrisk.com/tag/loan-portfolio-risk/)
- [credit risk management](https://www.frgrisk.com/tag/credit-risk-management/)
- [financial fraud](https://www.frgrisk.com/tag/financial-fraud/)
- [housing market](https://www.frgrisk.com/tag/housing-market/)
- [economic trends](https://www.frgrisk.com/tag/economic-trends/)
- [banking regulation](https://www.frgrisk.com/tag/banking-regulation/)
- [consumer credit](https://www.frgrisk.com/tag/consumer-credit/)
- [investment risk](https://www.frgrisk.com/tag/investment-risk/)
- [Digital Assets](https://www.frgrisk.com/tag/digital-assets/)
- [Stablecoins](https://www.frgrisk.com/tag/stablecoins/)
- [Financial Infrastructure](https://www.frgrisk.com/tag/financial-infrastructure/)
- [Banking Innovation](https://www.frgrisk.com/tag/banking-innovation/)
- [Crypto Regulation](https://www.frgrisk.com/tag/crypto-regulation/)
- [Risk Analytics](https://www.frgrisk.com/tag/risk-analytics/)
- [capital strategy](https://www.frgrisk.com/tag/capital-strategy/)
- [financial regulation](https://www.frgrisk.com/tag/financial-regulation/)
- [System Risk](https://www.frgrisk.com/tag/system-risk/)
- [Cyber Risk](https://www.frgrisk.com/tag/cyber-risk/)
- [FinTech](https://www.frgrisk.com/tag/fintech/)
- [Financial Stability](https://www.frgrisk.com/tag/financial-stability/)
- [Federal Reserve of New York](https://www.frgrisk.com/tag/federal-reserve-of-new-york/)
- [Cyber Attacks](https://www.frgrisk.com/tag/cyber-attacks/)
- [Asset Class](https://www.frgrisk.com/tag/asset-class/)
- [Agentic AI](https://www.frgrisk.com/tag/agentic-ai/)
- [LLM](https://www.frgrisk.com/tag/llm/)
- [large language models](https://www.frgrisk.com/tag/large-language-models/)
- [AI reasoning](https://www.frgrisk.com/tag/ai-reasoning/)
- [domain expertise](https://www.frgrisk.com/tag/domain-expertise/)
- [risk intelligence](https://www.frgrisk.com/tag/risk-intelligence/)
- [Generative AI](https://www.frgrisk.com/tag/generative-ai/)
- [human in the loop](https://www.frgrisk.com/tag/human-in-the-loop/)
- [energy prices](https://www.frgrisk.com/tag/energy-prices/)
- [diversification](https://www.frgrisk.com/tag/diversification/)
- [value at risk](https://www.frgrisk.com/tag/value-at-risk/)
- [expected shortfall](https://www.frgrisk.com/tag/expected-shortfall/)
- [GAN](https://www.frgrisk.com/tag/gan/)
- [WGAN](https://www.frgrisk.com/tag/wgan/)
- [TailGAN](https://www.frgrisk.com/tag/tailgan/)
- [risk measurement](https://www.frgrisk.com/tag/risk-measurement/)