Rating Manager is designed to enable financial institutions to improve the credit risk rating process. Using definable workflows, it automates the retrieval of existing data and ultimately route as the rating to designated staff for peer review, override or final approval, while storing historical rating data for future analysis.
âThe functionality in Rating Manager is essential to maintain the level of portfolio management and underwriting analysis required to meet the needs of todayâs challenging credit management and regulatory environment,â said Latimer Asch, managing principal of Asch Advisory Services LLC and member of the Credit Risk Consortium. âWith this technology, financial institutions are more equipped to manage and mitigate credit losses and proactively meet regulatory standards. Rating Manager provides the tools and reporting necessary to help create and maintain outstanding credit management practices in an organization.â
The browser-based solution can accommodate multiple rating models that may be required to rate the various types of counterparties and credit products within an institutionâs credit portfolio. It enables easy deployment of internal rating models and provides enhanced staff collaboration during processing.
âThe recent economic conditions and credit volatility have highlighted to lenders the need to reassess, more frequently, the business on their books and reconsider the evaluation criteriaâ said Scott Hansen, executive vice president of business development, Harland Financial Solutions. âRating Manager provides the functionality lenders need to efficiently apply objective rating processes, both when evaluating borrower and loan risk at the point of initial approval, and at scheduled review points. This leads to better, more consistent risk decisions and improved performance outcomes.â
With growing regulatory and compliance pressures, the CreditQuest risk and credit management software suite provides financial institutions with the tools to streamline their credit management process, strengthen their ability to quickly identify risk and deliver consistent results. Its credit risk management technology offers end-to-end straight through processing from origination to financial analysis, risk rating, portfolio management and reporting. The key functions of CreditQuest cover the entire credit management process, and it scales to meet the credit risk management needs of financial institutions of all sizes.