Is IFRS9 compliance costing you a lot of money and time? Whether your IFRS9 compliance is on track, no one inhales their own exhaust. You need to validate your model. Look through the window for fresh air.
Summit Consulting Ltd has developed an IFRS9 Toolkit to facilitate swift IFRS9 compliance for Banks at an affordable cost. The summitIFRS9 Toolkit comes with the following, six tools for ultimate sustainable compliance, at a low cost. It will free your finance and credit team time to focus on strategic issues like cost to income management, Interest and non-interest income growth and leveraging on technology.
a) IFRS9 Readiness Assessment
Review of the state of readiness in IFRS9 implementation, including extent of compliance so far done, quality of reporting and the ease of the process, current modelling framework and tools, mode of implementation and the cost of current practices.
We are then able to provide the bank with a clear IFRS9 ongoing compliance action plan that is easy to implement and affordable.
There is no need for your Finance, Credit and IT teams to sleep in the bank trying to comply with IFRS9. The #summitIFRS9 Tool easily imports your loan portfolio into our automated MSEXCEL tool for easy compliance. Depending on your risk appetite, we are able to create an Application Programming Interface (API) to link our IFRS9 Tool, directly to your loan book for swift and seamless IFRS9 compliance.
b) IFRS9 Staff briefing
A one to five days detailed briefing with Bank staff and Top Management about IFRS9. Role for Top Management in IFRS9 compliance as well roles of different departments – Finance, IT, Credit, Operations, HR, Treasury, Marketing and Legal among others in IFRS9 compliance including Key Result Areas (KRAs) expected from each and timing to facilitate swift compliance. As a bonus, get a free credit loan assessment tool to help your credit team assess credit risk in line with IFRS9.
c) IFRS9 impact on profits and Equity
As part of our IFRS9 training, we sign an NDA, and thereafter the bank provides us with their loan book which we then run in the #summitIFRS9 Tool so as to get the impact of IFRS9 on the bank’s profit and loss and equity, compared to the IAS39 impact. This gives you a clear picture of your bank.
d) IFRS9 Board briefing
A one-two hours high level presentation to the Board of Directors on IFRS9 requirements, impact on loan portfolio and role of the Board in IFRS9 Compliance.
Click here to request for an IFRS9 Toolkit demo
e) IFRS9 policy
Work with Bank leadership to develop IFRS9 policy in line with the chosen IFRS9 Business model. The policy developed is aligned to the #summitIFRS9 Tool, which is also clearly explained to facilitate effective understanding and ownership across the Board.
f) IFRS9 ongoing Implementation Support
Work with your Finance, Credit team to facilitate swift compliance to all regulatory requirements including reporting. In case you wish to automate IFRS9 compliance, we are able to work with your IT Team to facilitate the process.
Talk to our IFRS9 champion
To know more about #summitIFRS9 Toolkit, visit www.summitcl.com/ifrs9
The purpose of this letter is to seek for an appointment with your technical team to present our tool for your analysis and discussion on the next steps, and modalities of terms, if any.
Please call Godfrey Ssenyonjo on +256 775 845691 or +256 414 231136 or email [email protected] for an appointment.
We look forward to working with you.