Automating fair decisions in AI is a significant challenge for Bank’s - unlike humans decision makers, machines will not understand the context of society or have empathy in certain situations.
Today 4most, the global credit risk and insurance consultancy, announces the appointment of Sheikh Yasir as an Actuarial Consultant to join their fast-growing insurance division. Sheikh joins from the Bank of England, where he led the Solvency II review….
Since the implementation of International Financial Reporting Standard (IFRS) 9, capital & impairment forecasting and stress testing has seen a sharp rise in complexity across the banking industry. 4most consultants have been working on projects dealing with Internal Capital Adequacy Assessment Process (ICAAP)…
27 June 2019, London: 4most, the international credit risk consultancy, has announced structural changes following the move to an Employee Share Ownership Trust (ESOT)…
Wednesday 22 May 2019: 4most has been awarded Best Company to Work For at the prestigious Credit Strategy Awards 2019, held at the Grosvenor House Hotel in London last week.
On the 15th April the PRA wrote to the CFO’s of the top seven banks to give their initial opinions on the implementation of the new impairment requirements under IFRS 9. As expected for such a substantial subject, the findings, based on their written auditor reporting work, are varied in nature. Through discussion with a range of lenders and client engagements, we see many of the issues raised by the PRA. However, there are also some omissions that we expected to see.
Machine Learning has been one of the hot topics in finance over the last few years, with benefits observed in most areas – many large institutions have prototyped and implemented techniques across decisioning, strategy optimisation, and fraud. The other key area that Machine Learning can bring significant benefits to, is automation.