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German
English
German
Regulatory
under control.
NORD/LB Norddeutsche Landesbank
Reference SaaS-operation
Implementation of Impairment
To implement the new IFRS 9 requirements, NORD/LB chose zeb as its implementation partner and decided to roll out zeb.control Impairment.
Results at a glance
NORD/LB chose zeb as its partner to implement the new IFRS 9 requirements for calculating loan loss provisions. Together, the two companies implemented zeb.control Impairment and integrated it into the existing system landscape.
Background & Objectives
The implementation of the IFRS 9 accounting standard presented NORD/LB with extensive business and technical challenges. The goal was to find a solution that would enable a comprehensive calculation of risk provisions while also supporting financial reporting and regulatory reporting requirements.
Objectives
- Implementation of IFRS 9 requirements
- Introduction of a centralized impairment solution
- Definition of a business and technical target vision
- Integration into the existing IT landscape
- Ensuring comprehensive financial and regulatory reporting
The Solution: Implementation of zeb.control Impairment
NORD/LB chose zeb and decided to implement zeb.control Impairment. Once the selection phase was complete, implementation began with an interdisciplinary project team consisting of business and IT experts. The goal was to successfully put the solution into production by the specified go-live date.
Key Elements
- Interdisciplinary project approach
- Close collaboration between business units and IT
- Implementation of zeb.control Impairment
- Integration into the existing system landscape
- Preparation for on-time go-live
Requirements Analysis and Definition of the Target State
By mid-2016, the NORD/LB Group’s technical IFRS 9 impairment requirements had been identified and documented in detail. In workshops with Accounting, Financial and Risk Controlling, Special Credit Management, and IT, the requirements for the solution were refined and set forth in a requirements specification. At the same time, a technical target vision was developed, including the interfaces to upstream and downstream systems.
Key areas
- Functional Requirements Analysis
- Workshops with Relevant Departments
- Preparation of a Requirements Specification
- Development of a Technical Vision
- Interface Design for End-to-End Processing
Results and Future Stability
CONTACT
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REFERENCES
Selected References
With our support, our clients address pressing issues and challenges arising from industry transformation and new regulatory requirements for risk management. As “partners for change,” we work together to master the only constant—change.
