Experience

Challenge

The external auditor rejected the group's internal end-of-service provision weeks before sign-off. The figure had to be rebuilt for every operating entity on a basis the auditor could test.

Approach

Valued the end-of-service obligation of each operating entity under IAS 19 using the projected unit credit method, on one consistent set of assumptions, and prepared the workings the auditor needed to review.

Delivered

• Projected unit credit valuation for each operating entity
• Assumptions and workings for the auditor's review
• A group provision figure with its supporting workings

Work done by members of the Finbryn team in earlier roles, before Finbryn. Client identity and location are withheld. These were not Finbryn clients, and the account has not been independently verified.

Challenge

Expected credit loss on trade receivables had to be calculated at each valuation date from live company data, not rebuilt by hand every period.

Approach

Built a dashboard on the company's own data that calculates probability of default, loss given default and exposure at default, builds the provision matrix and produces the expected credit loss amount at a chosen valuation date.

Delivered

• Provision matrix
• Expected credit loss amount at any valuation date
• Dashboard on the company's own data

Work done by members of the Finbryn team in earlier roles, before Finbryn. Client identity and location are withheld. These were not Finbryn clients, and the account has not been independently verified.

Challenge

Management needed to see portfolio performance as it happened to set rates.

Approach

Built a business intelligence dashboard on the insurer's own data that shows portfolio performance in real time.

Delivered

• Portfolio performance dashboard on the insurer's own data

Work done by members of the Finbryn team in earlier roles, before Finbryn. Client identity and location are withheld. These were not Finbryn clients, and the account has not been independently verified.

Challenge

Management reporting was assembled by hand, and supplier invoices were posted manually in accounts payable.

Approach

Phase one digitized management reporting. The next phase is to replace manual invoice posting in accounts payable with AI-based invoice recognition.

Delivered

• Digitized management reporting

Work done by members of the Finbryn team in earlier roles, before Finbryn. Client identity and location are withheld. These were not Finbryn clients, and the account has not been independently verified.