Moody’s Analytics to Power Raymond James’ CECL Calculations
NEWS | For Immediate Release
NEW YORK, January 30, 2019 – Moody’s Analytics, a leading provider of financial intelligence and analytical tools, announced today that Raymond James Financial has selected the Moody’s Analytics Current Expected Credit Loss (CECL) solution to generate CECL estimates for the loan portfolios of its whole-loan-trading clients, and for loan packages intended for purchase or sale.
The centerpiece of the Moody’s Analytics CECL solution is the ImpairmentStudio™ platform, which lets financial institutions automate allowance calculation, analysis, reporting, and workflow. The solution also supports custom model development, validation, monitoring, and execution alongside a wide range of off-the-shelf loss-forecasting models.
As part of their business of providing high-quality analytics of loan portfolios, Raymond James will use the Moody’s Analytics CECL solution to provide their 900+ institutional clients with CECL estimates for their auto, commercial, and mortgage loan portfolios. The ability to generate these estimates quickly and efficiently – backed by rich data sets and robust econometric models from Moody’s Analytics – enhances Raymond James’ ability to furnish clients with superior portfolio-advisory services. The CECL estimates also strengthen the analysis and underwriting of loan packages being marketed for sale.
“After interviewing a half-dozen providers, we chose Moody’s Analytics to collaborate with us on CECL because of their data-driven approach to this new requirement for our clients,” said John Toohig, Head of Whole Loan Trading at Raymond James. “Their willingness to listen to our needs and desire to serve our clients, and to move outside their normal framework to accommodate our whole-loan-trading platform set them apart – as did their team of professionals who will make the process of gathering the necessary information as painless as possible.”
Chartis Research recently awarded Moody’s Analytics the distinction of Category Leader in a study comparing 17 vendors that offer CECL solutions.
“We are excited at the prospect of making our CECL capabilities available to such a wide range of institutional clients,” said Moody’s Analytics Managing Director Eric Ebel. “The impact of CECL on loan portfolios is now a critical consideration, and we look forward to working with Raymond James to continue deploying CECL models across more asset classes.”
Click here to learn more about the Moody's Analytics ImpairmentStudio solution.
About Moody’s Analytics
Moody’s Analytics provides financial intelligence and analytical tools to help business leaders make better, faster decisions. Our deep risk expertise, expansive information resources, and innovative application of technology help our clients confidently navigate an evolving marketplace. We are known for our industry-leading and award-winning solutions, made up of research, data, software, and professional services, assembled to deliver a seamless customer experience. We create confidence in thousands of organizations worldwide, with our commitment to excellence, open mindset approach, and focus on meeting customer needs. For more information about Moody’s Analytics, visit www.moodysanalytics.com.
Moody's Analytics is a subsidiary of Moody's Corporation (NYSE: MCO). Moody's Corporation reported revenue of $4.2 billion in 2017, employs approximately 12,600 people worldwide and maintains a presence in 42 countries.
About Raymond James Financial, Inc.
Raymond James Financial, Inc. (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The company has approximately 7,800 financial advisors throughout the United States, Canada and overseas. Total client assets are $725 billion. Public since 1983, the firm is listed on the New York Stock Exchange under the symbol RJF. Additional information is available at www.raymondjames.com.