06 Jul Invictus Creates New Climate Risk Division
The Invictus Group has created a new climate risk analytical division to help community banks.
“Our company, which cemented its reputation in stress testing before it became a bank standard, saw the need for this type of community bank analytical product,” said Invictus CEO Adam Mustafa.
While there’s no regulatory requirement yet for community banks, all the bank regulators say they expect community banks will have to comply with some type of climate risk management framework in the future.
Invictus has developed a simple suite of climate risk analytics that community banks can use as a starting point. These initial analytics will provide community banks insights into the physical risks their banks may face from climate change, as well as help launch valuable discussions in the boardroom and with bank examiners.
The new division will continue to develop climate risk analytics as regulatory expectations become clearer.