Financial Services

CRISIL GR&A's services complement the onshore financial research teams of some of the world's largest financial institutions and insurance companies. Its associates possess research expertise in a variety of asset classes. CRISIL GR&A also provides comprehensive consulting and finance offshoring services with solutions customised to meet the needs of various clients. Furthermore, insurance companies and consultants have benefited from CRISIL GR&A's services based on the foundation of reduced costs and value-added analysis.

Equity Research
CRISIL GR&A provides a full spectrum of equity research services, from searching and aggregating data to building models, generating ideas for onshore analysts and writing in-depth reports. CRISIL GR&A pioneered outsourced equity research and analytics in 2001 and retains this vanguard position with over 50 of the world's leading buy- and sell-side financial institutions as clients.

Investment Banking Research
We have an impressive track record in supporting global investment banks, asset managers, private equity firms and other financial institutions in different assignments. During the last decade, we have diversified our offerings across various spectra of research. Irevna supports investment banking firms across their operations. In the field of investment banking work, we categorise the work that we perform into analytics, data & library services and presentation support.

Irevna understands the nature of IB work, where workflow tends to be unpredictable and spikes as well as lean patches are hard to foresee over the medium-to-long term.

Given our scale and the clear understanding of the nature of workflow, we are able to provide our clients, tailor-made delivery models, which are designed to keep the fixed cost for our client under control, and at the same time ensure that there are enough resources available to handle the spikes in volume.

Credit Research
CRISIL GR&A provides valuable credit research and credit sourcing services to its clients with capabilities across industries, lending types and geographies. CRISIL GR&A has closely worked with financial institutions such as banks, thrifts, asset management firms, private equity firms and insurance companies. The credit research services offered include:

 
  • Credit Sourcing
  • Economic/Sector Assessments
  • Financial Modeling
  • Credit Risk Assessments
  • Legal Due Diligence
  • Credit Risk Monitoring
  • Portfolio Monitoring
  • Retail Brokerage Research
    CRISIL GR&A's retail research services include end-to-end stock initiation reports, financial performance projections, publishing (industry, market and thematic) research reports, conducting comprehensive fundamental credit research, performing sovereign and economics research, drafting mutual/hedge fund performance reports, and creating newsletters, periodicals, and marketing presentations.

    Derivatives Offshoring
    CRISIL GR&A is at the forefront of derivatives research offshoring. Clients depend on its deep knowledge of various derivative classes, including equity, credit, commodities, interest rate, and foreign exchange (FX) products, as well as structured and exotic offerings. CRISIL GR&A's high-caliber associates allow it to offer an array of middle-office, product control, and derivatives IT solutions.

    Financial Technology
    CRISIL GR&A's extensive experience is used to implement and maintain complex financial technologies and systems through an amalgamation of technology, domain, and project management. This enables CRISIL GR&A to deliver solutions of the highest quality and efficiency on deliverables such as:

     
  • Integration of heterogeneous systems
  • End-to-end system development
  • Technology consulting and business analysis
  • FX and Economics
    In order to negotiate and work within the highly volatile FX markets clients require partners who have a deep understanding of macroeconomics and that's where CRISIL GR&A offers its full support. CRISIL GR&A is highly skilled in creating quantitative models for FX forecasting, back testing and new product development. It also supports traders with trade book migration, IT and application support for algorithmic trading projects, and structured trade reviews of exotic fixed-income derivatives trades.

    Quantitative Analytics
    In a fast-changing and complex business environment, companies face many challenges. CRISIL GR&A's quantitative analytics research team uses specialised statistical and pricing tools to help financial institutions assess risk and make well-informed decisions to maximise returns. Some of its services include derivatives pricing, index construction and maintenance, product development and research monetization.

    Commodities Research
    With the nature of commodity markets being highly volatile, in-depth commodities research is critical. Through CRISIL GR&A, market participants are supported through comprehensive commodities research services such as price discovery using quantitative models, performance and volatility analytics.

    Risk and Actuarial Services

    • Risk Services


    • CRISIL GR&A supports risk management initiatives of banks and insurance firms by providing analytical modeling, framework design and implementation support in various risk governance and capital assessment projects. CRISIL GR&A has experience working on different projects related to model development, model validation, capital modeling, Solvency II and risk software implementation.

      Internal Model Development and Model Validation Services

      CRISIL GR&A assists internal model development, validation and governance teams of its clients by providing support in developing and validating various risk and pricing models including value-at-risk (VaR), macro-economic forecasting, derivatives pricing, credit scoring, PD/LGD models, counterparty credit risk and actuarial models.

      Solvency II Implementation Support Services

      CRISIL GR&A supports Solvency II projects of clients by providing experienced actuarial, quant and risk management support teams to work in the areas of model development, model documentation, model migration, model validation, capital modeling, data management etc.

      Capital Modeling Services

      CRISIL GR&A supports development and implementation of various capital assessment models/frameworks complying with BASEL II/III and Solvency II guidelines. CRISIL GRA assists its clients in development of economic capital models, computation of regulatory capital, implementation of stress testing frameworks and regular reporting of results.

      Retail Risk Analytics Services

      CRISIL GR&A builds empirical models (scorecards) and strategies and performs data driven analyses across various stages of the consumer credit life cycle - product planning, credit acquisition, account maintenance, collections and account write offs.

      Software Implementation Services

      CRISIL GR&A develops and implements various risk software in accordance with national regulatory and BASEL/Solvency II guidelines. Some of the solutions we implement include VaR and economic capital calculators, operational loss modeling software and enterprise risk management dashboards

    • Actuarial Services


    • Actuarial Services - Life Insurance

      CRISIL GR&A supports Life insurance and reinsurance companies and actuarial consulting firms by providing actuarial and analytics services. CRISIL GR&A has experience in pricing, reserving, experience analysis, building and validating actuarial models, auditing of reserving procedures, software support etc

      Basic and Advanced Reserving Analysis : Performing monthly and quarterly reserving exercises across various life insurance products. This includes development of reserving models, validating the models, running the reserving models and generation of reserve reports

      Experience Analysis : Performing routine Actual vs Expected calculations for monthly mortality and persistency studies

      System Conversion : Conversion of models from in house tools / excel into standard actuarial software

      Actuarial Data Management : Extracting, cleaning, grouping and merging of claims and policy data. Validating and reconciliation of data from different data sources. Preparing data for analysis purposes. Respond to ad hoc data requirements for specific studies or management reports

      Others: IFRS, ERM, Solvency II, EEV / MCEV, reinsurance treaties parameterization etc

      Actuarial Services - Retirement Benefits

      CRISIL GR&A supports actuarial consulting firms and HR consulting firms in USA, UK and Canada to perform valuations of post retirement and post employment employee benefit plans.

      Funding & Accounting Valuations : Perform end to end annual pension plan & retiree medical valuations and generate draft actuarial reports for plan actuaries sign off

      Disclosures and Form Filings : Prepare various regulatory disclosures and assist the companies in regulatory form submissions

      Pension Administration: Perform data management, benefit calculations, individual membership calculations etc

      System Migration: Migration of plan valuations from in house tools to standard pension valuation software

      Others: Experience studies, LDI, Non-Discriminative testing, Investment research, support to pension fund managers etc

      Actuarial Services - General Insurance/Property & Casualty Insurance

      CRISIL GR&A supports General Insurance or P&C insurance companies and actuarial consulting firms by providing actuarial and analytics services. CRISIL GR&A has experience in pricing and reserving analysis, designing, implementing and validating actuarial models, statutory reporting projects etc.

      Basic and Advanced Reserving Analysis : Performing deterministic and stochastic methods for reserving analysis. CRISIL GR&A also performs reserving analysis for complex exposures like Construction defects, Claims-made Medical Malpractice and Asbestos and Environmental.

      Premium Rating and price optimization : Determining appropriate rate levels and Optimization of price based on grouping or addition of new rating variables

      Reporting : Creation of reports for discussion with senior management and support for issuing Statement of Actuarial Opinion and other supervisory reports

      Actuarial Data Management : Extracting, cleaning, grouping and merging of claims and policy data. Validating and reconciliation of data from different data sources. Preparing data for analysis purposes. Extraction of historical loss, premiums, and exposure data and collation of market data as inputs to premium rating. Respond to ad hoc data requirements for specific studies or management reports

      Others: Other activities like Enterprise Risk Management, Predictive Modeling, Reinsurance Reserving, Pricing and Cat Modeling, Investment Analysis and profitability analysis

    Private Wealth Management
    In the current market scenario, providers of private wealth management offshoring services with specialised industry expertise and exposure to multiple asset classes have a critical role to play. CRISIL GR&A's experience in diverse domains of financial offshoring such as equity, fixed income, derivatives and risk management helps provide customised services to private wealth management firms.

    Insurance Actuarial Services
    CRISIL GR&A is a pioneer in insurance actuarial offshoring. CRISIL GR&A's actuarial team is a mix of actuaries, student actuaries, CAs, MBAs, and statisticians. CRISIL GR&A's clients include general and life insurance, reinsurance, and pension and investment management firms and provide them with effective problem-solving tools such as sophisticated actuarial models.

    Retail Risk Analytics
    CRISIL GR&A's risk analytics team, has experience in building empirical models (scorecards), strategies and performing data-driven analyses in the risk domain for consumer banking/finance businesses, across various stages of the consumer's credit life cycle - Product Planning, Credit Acquisition, Account Maintenance, Collections, and Account-Write-Offs.

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    Financial Research Services - CRISIL India