Sourcing the single-system solution

As head of the Basel project office at Bank of New York, Nicholas Silitch faces the toughest challenge of his 20-year career at the bank.

Nicholas Silitch is a rarity in the financial world in having worked at the same institution for his entire career. An economics alumnus of Colby College in Maine in the US, he began his career at the Bank of New York (BoNY) in 1983, and was most recently given the role of overseeing its Basel project office in May 2004.

In 2001, Silitch began running BoNY’s portfolio management division, charged with implementing a new ratings system and economic capital model to monitor the bank’s portfolio

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Credit risk & modelling – Special report 2021

This Risk special report provides an insight on the challenges facing banks in measuring and mitigating credit risk in the current environment, and the strategies they are deploying to adapt to a more stringent regulatory approach.

The wild world of credit models

The Covid-19 pandemic has induced a kind of schizophrenia in loan-loss models. When the pandemic hit, banks overprovisioned for credit losses on the assumption that the economy would head south. But when government stimulus packages put wads of cash in…

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