As the pace of business quickens, is your organization keeping up?
Spinnaker Consulting Group helps Fortune 500s get to where they’re going, faster.
Within days of the international declaration of the pandemic, federal leaders tossed a lifeline to small businesses in the form of the Paycheck Protection Program. But before the ink was dry on the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which offered forgivable loans to help eligible American companies keep their lights turned on and pay their employees, banks were stepping into a minefield of risk.
In the financial services industry – particularly in the risk space – continuing education and certification are essential for staying abreast of changes and demonstrating expertise. Chris Lucas, a director in our Risk Management and Compliance practice, places equal weight on cultivating expertise in his personal pursuits. More specifically, he’s got the paperwork to prove he’s a certified BBQ judge, able to discern nuances in flavor profiles and how different woods add unique smoke layers to food. The fact that he earned his first paycheck by herding pigs at a livestock auction makes his ascent to BBQ critic a logical progression.
As the world braces itself for the economic impact of COVID-19, banks are looking to credit risk models in an attempt to quickly understand and forecast the effects of such rapid change. But putting these models to work is no easy task.
Spinnaker is a management consulting firm that ranked #160 on the Inc. 5000. Ranked #3 on RVA BizSense Fastest-Growing Businesses. Member of the Forbes Finance Council. RTD Best Places to Work.