Press release

Grant Thornton Ireland and Cyprus launch a joint quantitative risk offering

Dwayne Price Dwayne Price

Grant Thornton Ireland and Cyprus have today launched a joint quantitative risk offering. The offering will allow Grant Thornton to provide market-leading services, including: Data science & analytics; Model development and assurance; and, Portfolio risk management, to banks and financial services institutions in Cyprus and the region. Such services encompass key risks, including credit risk and span a range of requirements, such as: IFRS9 models; IRB; Stress Testing; and other forecasting models.

Dwayne Price, Partner in Financial Services Advisory at Grant Thornton Ireland noted “Financial institutions across the EU are facing increasing complexity and are critically dependent on accurate risk modelling for numerous reasons. Cypriot and other Eurozone banks face the same regulatory challenges and requirements as their ECB regulated peers.  Our expertise, regulatory insight and national market knowledge will allow us to deliver solutions that satisfy all stakeholders requirements.”: “

As well as resource, capability and practical support from Grant Thornton Ireland and the Grant Thornton International; network, Grant Thornton Cyprus have also appointed Andreas Spyrides as a Director and Head of Quantitative Risk. Andreas joined Grant Thornton on 1 October 2020 and he has more than 7 years of experience in the international financial services industry. Andreas joined the firm from Barclays Bank in London where he held the position of Vice President and lead a team of analysts in the Wholesale Credit Risk department. He is a CFA charter holder, and holds an M.Sc. in Banking and Risk from The University of Edinburgh and a B.Sc. in Computer Science from The University of Surrey.

“We are all very proud for our joint venture agreement with Grant Thornton Ireland as it strengthens our relationship and also builds on the  launch of the newly established department, giving  an enhanced advisory service to our clients’ ” said Stavros Ioannou, CEO Grant Thornton Cyprus.

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