Investment Banking & Financial Corporate Brand & Identity // Linda C. Modica
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Transcript of Investment Banking & Financial Corporate Brand & Identity // Linda C. Modica
portfolio > Linda C. ModicaArt Director | Brand Specialist | Graphic Designer
2-10 Black Swan Consulting 2/ Leading Fixed Income Specialist (front) 3/ Leading Fixed Income Specialist (back) 4/ Basel III (front) 5/ Basel III (back)
6/ Due Dilligence, Independent Valuation & Basel III (front) 7/ Inforgraphic study from Basel III 8/ Infographic (detailed view) from Independent Valuation 9/ Event signage & table cloth 10/ Business card + identity
graphic design
INVESTMENT BANKING & FINANCIAL / CORPORATE BRAND & IDENTITY
BASEL IIISECURITIZATION FRAMEWORK SUPPORT
With the introduction of the Simplified Supervisory Formula Approach (SSFA)and the continued use of the gross-up approach, institutions have the ability to choose how to calculate the risk weighting of securitization exposures. Based on our experience, the SSFA approach results in lower capital charge on senior, well-capitalized tranches compared to the gross-up approach. In order to use the SSFA, however, institutions must have access to the appropriate deal and loan-level data as well as the necessary expertise to carry out the calculation.
Aaron Wong | [email protected]
Kristen Verberkmoes | [email protected]
Please visit us at: www.BlackSwanConsultingGroup.com Our telephone number is (917) 338-2380
Inquiries related to our products and services can be directed to
Bank regulators have finalized adoption of the revised Basel III capital framework and have set forth due diligence requirements with respect to private label securitizations (e.g., ABS, MBS, CDOs) and structured credit derivatives. In addition to broadening the definition of securitization exposures, the adopted rules remove the ratings-based approach found in Basel II with respect to calculating the capital charge to comply with the Dodd-Frank Act.
SS
FAG
ross
-Up
Loan-level Collateral Performance
Detailed Capital Structure
Funded Reserve Accounts
Capital Charge of Underlying Assets
Exposure to Tranche
Amount of Senior Tranche(s)
Amortized Cost of Exposure
Risk Weight of Underlying Assets
Basel III SSFA_v4.indd 1 9/12/14 12:30 PM
INVESTMENTDUE DILIGENCE
Our investment due diligence process is completely independent. We are focused on the needs of fiduciaries to guard against fraud and conflicts of interest. Black Swan is not affiliated with any managers, products, funds or advisors.
We believe in the inherent benefits of understanding manager performance. The goal of our process is to identify and validate sound investment programs. In a dynamic environment, it is critical to analyze and understand investment style as well as risk management procedures.
Black Swan Consulting is an independent advisory firm dedicated to meeting the complex and mission critical needs of financial institutions. We develop our solutions and services around a team-based approach that capitalizes on the expertise of our specialists.
Benefits of Investment Due Diligence:
• Strengthenworkingrelationshipwithmanagers and trustees
• Identifyingsoundinvestmentprograms and practices
• Identifyingcompetenttrustees
• Deeperunderstandingof investmentdecisions and performance
• Validationof investmentpolicyadherence
Aaron Wong | [email protected]
Kristen Verberkmoes |[email protected]
Please visit us at: www.BlackSwanConsultingGroup.com Our telephone number is (917) 338-2380
Inquiries related to our products and services can be directed to
Capital MarketsUnderwriting
TradingInvestment Management
Valuation
Risk ManagementSurveillance AccountingAuditing
Legal & ComplianceRegulatory ComplianceLegal Case Review
Technology DevelopmentCash Flow Analytics
Performance Surveillance DataVisualization
Multi- Disciplinary
Approach
• AssetBackedSecurities
•ResidentialMBS
•CommercialMBS
•AgencyMBS
•MunicipalBonds
• CollateralizedLoanObligations
LeadingFixed incomeSpeciaLiSt
Black Swan Consultingwas founded in2008at theheightof thefinancial crisis to provide product expertise to financial institutions.Ourclientsincludeinstitutionsof alltypesandsizes,including:
Wehaveextensivecapitalmarketsexperienceandarewell-versedinregulatoryandaccountingissues.Throughtheintegrationof capitalmarkets expertise with best-in-class analytics we deliver the bestpossibleservicesandsolutionstoourclients.
Ourteamisuniquelyexperiencedinanalyzingcomplextransactionsandstructuredfinancialproducts.Weareadeptatmodelingcreditandwhole-loanportfoliosandcomplexstructuredfinanceproducts.
expert, independent
advice
productexpertise
• CollateralizedDebtObligations
• PooledTrustPreferredSecurities
•CreditPortfolios
•CoveredBonds
• InterestRateDerivatives
•CreditDerivatives
Black swan consulting is a certified minority- owned enterprise and small business.
www.BlackSwanConsultingGroup.com
Black Swan Consultingisdedicatedtoprovidingthehighestcaliberindepen-
dent advice and solutions. We are not a
broker-dealer, asset manager or financial
products seller. Our goal is to provide
clientsthebestpossibleexpertise.Ourcapital
markets specialists draw upon years of
sell-side and buy-side industry experience
to give our clients a competitive edge in the
marketplace. We take a focused approach in
workingwithclientstoensurethatoursolutions
arecost-effectivewhileadheringtobestpractices.
Banks Insurance companies Credit unions
Asset managersHedge funds Broker-dealers
Issuers Fund administrators Financial regulators
About Black Swan_v4.indd 1 4/8/14 10:31 AM
6
InvestmentDue DIlIgence
Our investment due diligence process is completely independent. We are focused on the needs of fiduciaries to guard against fraud and conflicts of interest. Black Swan is not affiliated with any managers, products, funds or advisors.
We believe in the inherent benefits of understanding manager performance. The goal of our process is to identify and validate sound investment programs. In a dynamic environment, it is critical to analyze and understand investment style as well as risk management procedures.
Black Swan Consulting is an independent advisory firm dedicated to meeting the complex and mission critical needs of financial institutions. We develop our solutions and services around a team-based approach that capitalizes on the expertise of our specialists.
Benefits of Investment Due Diligence:
• Strengthenworkingrelationshipwithmanagers and trustees
• Identifyingsoundinvestmentprograms and practices
• Identifyingcompetenttrustees
• Deeperunderstandingof investmentdecisions and performance
• Validationof investmentpolicyadherence
Aaron Wong | [email protected]
Kristen Verberkmoes |[email protected]
Please visit us at: www.BlackSwanConsultingGroup.com Our telephone number is (917) 338-2380
Inquiries related to our products and services can be directed to
Capital MarketsUnderwriting
TradingInvestment Management
Valuation
Risk ManagementSurveillance AccountingAuditing
Legal & ComplianceRegulatory ComplianceLegal Case Review
Technology DevelopmentCash Flow Analytics
Performance Surveillance DataVisualization
Multi- Disciplinary
Approach
Investment Due Diligence_v5_press.indd 1 4/1/13 4:49 PM
BASEL IIISECURITIZATION FRAMEWORK SUPPORT
With the introduction of the Simplified Supervisory Formula Approach (SSFA)and the continued use of the gross-up approach, institutions have the ability to choose how to calculate the risk weighting of securitization exposures. Based on our experience, the SSFA approach results in lower capital charge on senior, well-capitalized tranches compared to the gross-up approach. In order to use the SSFA, however, institutions must have access to the appropriate deal and loan-level data as well as the necessary expertise to carry out the calculation.
Aaron Wong | [email protected]
Kristen Verberkmoes | [email protected]
Please visit us at: www.BlackSwanConsultingGroup.com Our telephone number is (917) 338-2380
Inquiries related to our products and services can be directed to
Bank regulators have finalized adoption of the revised Basel III capital framework and have set forth due diligence requirements with respect to private label securitizations (e.g., ABS, MBS, CDOs) and structured credit derivatives. In addition to broadening the definition of securitization exposures, the adopted rules remove the ratings-based approach found in Basel II with respect to calculating the capital charge to comply with the Dodd-Frank Act.
SS
FAG
ross
-Up
Loan-level Collateral Performance
Detailed Capital Structure
Funded Reserve Accounts
Capital Charge of Underlying Assets
Exposure to Tranche
Amount of Senior Tranche(s)
Amortized Cost of Exposure
Risk Weight of Underlying Assets
Basel III SSFA_v4.indd 1 9/12/14 12:30 PM
Aaron Wong | [email protected]
Kristen Verberkmoes | [email protected]
Please visit us at: www.BlackSwanConsultingGroup.com Our telephone number is (917) 338-2380
Inquiries related to our products and services can be directed to
IndependentvaluatIon
We currently offer valuations on a variety of fixed income products, including:Recent codification of Fair Value Measurements and
Disclosures promotes use of valuation models for inactive and disorderly markets. Our valuation framework utilizes a granular credit approach and is designed for transparency, consistency, and regulatory compliance. By incorporating model-based valuations into their surveillance process, investment managers can assess whether market prices are consistent with performance.
Benefits of our valuation methodologies•Complieswithindustry-specificaccountingrules
• Utilizesmultipleindependentcreditassessments of underlying collateral
• Incorporatesreviewof allrelevanttransactiondocuments
• Producesresultsthatareusefulindeterminingother-than-temporary impairment
•Measurestail-riskandoptionvalues
•Producesreliableandconsistentresults
• IndependentLevel3inputstoprojectand value future cash flows
We can design and implement valuation frameworks for all fixed income product types.
Black Swan Consulting is an independent advisory firm specializing in fixed income markets. Our team of product specialists is dedicated to assisting financial institutions manage risk and to comply with regu-latory requirements. Our services range from comprehensive portfolio reviews to providing independent valuations that meet industry-specific accounting rules with respect to fair value and impairment.
Collateralized debt obligations(aBS Cdos, Clos, CRe Cdos, eM Cdos, Synthetic Cdos, and trupS Cdos)
Residential mortgage-backed securities
Commercial mortgage-backed securities
asset-backed securities
Independent Valuation_v3a.indd 1 3/4/14 11:12 AM
8
DUE DILIGENCEPROCESS
Black Swan uses both quantitative and qualitative analysis to evaluate investment programs. Using quantitative methods we focus on the contributing factors behind overall returns and to assess the investment manager’s ability to outperform benchmarks. The qualitative component allows us to reach a subjective decision about the ability of managers to produce attractive returns over multiple market cycles.
Quantitative Measures:
• Benchmarking• Performance ratio• Expense ratio• Absolute returns• Tracking error• Leading/lagging trends• Trading effectiveness• Conflicts of interest
Qualitative Measures:
• Cost-benefit analysis• Adherence to covenants• Appropriateness of asset pricing• Adherence to fiduciary responsibilities• Custodian/trustee accountability
Aaron Wong | [email protected]
Kristen Verberkmoes | [email protected]
Please visit us at: www.BlackSwanConsultingGroup.com Our telephone number is (917) 338-2380
Inquiries related to our products and services can be directed to
Investment Documentation
Regulatory Compliance
Performance01Preliminary Assessment
Strategy
Portfolio Composition
Investment Decision Process
Risk Management Process
02Quantitative and Qualitative Analysis
Organization and Staffing
Key Personnel and Expertise
Systems and Tools
Risk Reporting and Internal Controls
03Operational Review
Performance Track Records
Custodian
Brokerage
Accountants and Auditors
Legal and Compliance
04External Validation
Key Personnel
Risk Managers
Compliance Officers
Trustees
05Background Check
Organization and Staffing Changes
Performance Updates
Regulatory Updates
Market Changes
06Ongoing Monitoring
Investment Due Diligence_v5_press.indd 2 4/1/13 4:49 PM
INVESTMENTDUE DILIGENCE
Our investment due diligence process is completely independent. We are focused on the needs of fiduciaries to guard against fraud and conflicts of interest. Black Swan is not affiliated with any managers, products, funds or advisors.
We believe in the inherent benefits of understanding manager performance. The goal of our process is to identify and validate sound investment programs. In a dynamic environment, it is critical to analyze and understand investment style as well as risk management procedures.
Black Swan Consulting is an independent advisory firm dedicated to meeting the complex and mission critical needs of financial institutions. We develop our solutions and services around a team-based approach that capitalizes on the expertise of our specialists.
Benefits of Investment Due Diligence:
• Strengthen working relationship with managers and trustees
• Identifying sound investment programs and practices
• Identifying competent trustees
• Deeper understanding of investment decisions and performance
• Validation of investment policy adherence
Aaron Wong | [email protected]
Kristen Verberkmoes | [email protected]
Please visit us at: www.BlackSwanConsultingGroup.com Our telephone number is (917) 338-2380
Inquiries related to our products and services can be directed to
Capital MarketsUnderwriting
TradingInvestment Management
Valuation
Risk ManagementSurveillance AccountingAuditing
Legal & ComplianceRegulatory ComplianceLegal Case Review
Technology DevelopmentCash Flow Analytics
Performance Surveillance Data Visualization
Multi-Disciplinary
Approach
Investment Due Diligence_v5_press.indd 1 4/1/13 4:49 PM
DUE DILIGENCEPROCESS
Black Swan uses both quantitative and qualitative analysis to evaluate investment programs. Using quantitative methods we focus on the contributing factors behind overall returns and to assess the investment manager’s ability to outperform benchmarks. The qualitative component allows us to reach a subjective decision about the ability of managers to produce attractive returns over multiple market cycles.
Quantitative Measures:
• Benchmarking• Performance ratio• Expense ratio• Absolute returns• Tracking error• Leading/lagging trends• Trading effectiveness• Conflicts of interest
Qualitative Measures:
• Cost-benefit analysis• Adherence to covenants• Appropriateness of asset pricing• Adherence to fiduciary responsibilities• Custodian/trustee accountability
Aaron Wong | [email protected]
Kristen Verberkmoes | [email protected]
Please visit us at: www.BlackSwanConsultingGroup.com Our telephone number is (917) 338-2380
Inquiries related to our products and services can be directed to
Investment Documentation
Regulatory Compliance
Performance01Preliminary Assessment
Strategy
Portfolio Composition
Investment Decision Process
Risk Management Process
02Quantitative and Qualitative Analysis
Organization and Staffing
Key Personnel and Expertise
Systems and Tools
Risk Reporting and Internal Controls
03Operational Review
Performance Track Records
Custodian
Brokerage
Accountants and Auditors
Legal and Compliance
04External Validation
Key Personnel
Risk Managers
Compliance Officers
Trustees
05Background Check
Organization and Staffing Changes
Performance Updates
Regulatory Updates
Market Changes
06Ongoing Monitoring
Investment Due Diligence_v5_press.indd 2 4/1/13 4:49 PM
INVESTMENTDUE DILIGENCE
Our investment due diligence process is completely independent. We are focused on the needs of fiduciaries to guard against fraud and conflicts of interest. Black Swan is not affiliated with any managers, products, funds or advisors.
We believe in the inherent benefits of understanding manager performance. The goal of our process is to identify and validate sound investment programs. In a dynamic environment, it is critical to analyze and understand investment style as well as risk management procedures.
Black Swan Consulting is an independent advisory firm dedicated to meeting the complex and mission critical needs of financial institutions. We develop our solutions and services around a team-based approach that capitalizes on the expertise of our specialists.
Benefits of Investment Due Diligence:
• Strengthen working relationship with managers and trustees
• Identifying sound investment programs and practices
• Identifying competent trustees
• Deeper understanding of investment decisions and performance
• Validation of investment policy adherence
Aaron Wong | [email protected]
Kristen Verberkmoes | [email protected]
Please visit us at: www.BlackSwanConsultingGroup.com Our telephone number is (917) 338-2380
Inquiries related to our products and services can be directed to
Capital MarketsUnderwriting
TradingInvestment Management
Valuation
Risk ManagementSurveillance AccountingAuditing
Legal & ComplianceRegulatory ComplianceLegal Case Review
Technology DevelopmentCash Flow Analytics
Performance Surveillance Data Visualization
Multi-Disciplinary
Approach
Investment Due Diligence_v5_press.indd 1 4/1/13 4:49 PM