The Monticello team joined an exciting Risk.net conversation today on the state of Artificial Intelligence (AI) and Machine Learning (ML) in capital markets. Processes and systems within financial services firms are no longer fit for purpose across the Industry and have a need to quickly adapt to today’s complexity in risk and regulatory environments. Financial institutions also have a need for real-time access to reliable and trusted data to be able to respond to unexpected events. Overall AI and ML adoption across the industry has been relatively slow; however, financial crime departments appear to be taking the lead while compliance is not far behind. We look forward to working with our clients to support their digital transformation needs in 2021 and beyond.
Racial Equity in Asset Management - CFA Society NY Event
Today’s webinar titled - “Racial Equity in Asset Management: Asset Owners’ Perspectives” hosted by the CFA Society NY was thought-provoking and encouraging! The industry leaders who presented discussed ideas on how we can increase our portfolio performance and strength of our overall firms by embracing diverse and emerging managers. Brian O’Neil stressed how he feels we need to see where we are today, and grow from here! Thanks to all the speakers who shared their thoughts today.
Celebrating Presidents Day!
On this President’s Day, we honor our great country’s past and present leaders, and wish Mr. Biden well in addressing the many pressing issues facing out nation today. Thank you to all of our presidents who have guided our union towards progress, freedom and inclusivity for all, we will continue to do our part! And enjoy this lovely day off team Monticello!
Monticello Trivia Night - Winter Edition
The Monticello team gathered for a fun evening of winter inspired trivia yesterday evening and a great time was had by all. Rebecca Smith pulled together an inspiring event with challenging questions and Jeff Souva proved once again that he is a force to be reckoned with as he took first place with ease! The groundhog may not have seen his shadow, but this team knows how to take advantage of six more weeks of winter.
Supporting Girl Scouts of America & NYC's homeless!
Monticello is pleased to support the Girl Scouts of America this year, as we love the support they provide to girls across the country. “Do a good turn daily” - what a motto! Doing good can make a major impact, as you can order Girl Scout cookies to support homeless girls in New York City this year, by buying directly from Girl Scout Troop 600, which is tailor-made for girls in the New York's shelter system. An estimated 70,000 people live in the city's homeless shelters; the average stay is 18 months before families transition to permanent housing. During that transition, Troop 6000 helps girls enjoy close friendships and plenty of support. Their mission is to instill girls with courage, confidence and character. For the girls of Troop 6000, Girl Scouts provides consistency and community that might otherwise be difficult to achieve. To support this incredible group, please visit: Troop 6000 | Girl Scouts of Greater New York (girlscoutsnyc.org)
U.S. House Subcommittee Hearing on Supporting Minority-Owned Businesses
Yesterday’s U.S. House Subcommittee on Financial Services hosted a hearing titled “Supporting Small & Minority Owned Businesses Through the Pandemic,” which was an insightful and valuable conversation! Monticello joined this webinar as it is more timely than ever to focus on helping the small & minority-owned firms navigate through these difficult times. As Congresswoman Maxine Waters stated, “small and minority-owned businesses are the heartbeat of our economy” and we can all agree that the proper assistance is needed now as we push forward in our ever-evolving society. The industry and gov’t leaders who presented discussed ideas around this support, including providing a different route to access capital and technical support, as these small & MBE firms are making a real differences in our economy, increasing home ownership, increasing tax revenue, closing the wage gap, and providing upward mobility. To hear the full hearing, please visit: Virtual Hearing - Supporting Small and Minority-Owned Businesses Through the Pandemic | Financial Services Committee (house.gov)
Monticello Joins Gartner Conversations on The Art of Storytelling
The Monticello team recently joined a pair of conversations designed to explore approaches to captivate your audience and discover how to use storytelling to articulate business strategy and success.
Gartner provided valuable insights by connecting Ethos (you), Logos (your message) and Pathos (your audience and their emotions) together as a means to win people over. “When dealing with people, let us remember we are not dealing with creatures of logic,” stated Dale Carnegie. Oftentimes, logic and reason are not enough to persuade, while connecting on an emotional level is the real game changer. Although connecting with people through a personal story adds that emotional touch, it is critical to ensure that it demonstrates the business value, plan for success, and required investment. Turning this into a one-page strategy allows business leaders to boil everything down to its simplest form and align it with core values, purpose, and action items.
As consultants, we are constantly working with our clients to help them achieve growth and remain competitive. We look forward to working with our clients on their communications strategies to drive critical change initiatives, effectively engage stakeholders, and improve operational performance.
Celebrating Black History Month!
Monticello is so pleased to celebrate Black History Month, recognizing the many contributions of courageous African-American leaders in our country over the years. Please join our minority owned business as we celebrate all those past, present, and future African-American influential citizens who make our country greater together!
Monticello Leadership Team Convenes to Discuss the State of (L)IBOR in 2021
The Monticello Consulting Group (L)IBOR Center of Excellence (COE) team conducted their monthly summit earlier this week. The team discussed the impact of the most recent regulatory guidelines and milestones across the various (L)IBOR benchmarks. One recurring theme of the conversation was the deviation in market adoption and banking institution momentum related to the various risk-free alternatives. Where SONIA and SARON have gained momentum in the market, it appears SOFR and ESTR are lagging behind. In addition, 2021 continues to see a market that strongly prefers a credit sensitive rate that reflects cost of funding, similar to what (L)IBOR rates offer.
The (L)IBOR COE team explored drivers for this dichotomy including the analysis of industry charts depicting the spreads of SOFR to USD LIBOR being far greater than the spreads of SONIA to GBP LIBOR and the causes for the variance in spread. In addition to how the spread from LIBOR may impact adoption, the group discussed jurisdictional risk-sensitive IBOR alternatives to the BBA published rates such as AMERIBOR. EURIBOR, and TIBOR that have been gaining favor.
As consultants, our ability to knowledge exchange and bring different perspectives on a single challenge gives us the ability to pose different scenarios to our clients. As we continue to support our clients on the (L)IBOR transition, we recognize that the end-state market has not solidified, and our goal is be ready for and anticipate future change.
For the latest news, insights, and transition timelines, please visit our (L)IBOR Center of Excellence here.
Monticello Joins ISDA Virtual Conference on Collateral Management Transformation
The Monticello team joined ISDAs Virtual Conference on Collateral Management Transformation where panelists discussed how buy-side and sell-side firms can improve operational processes and use technology to further drive efficiencies ahead of UMR phases five and six. This conference focused on streamlining collateral management operations by optimizing the onboarding process for segregated accounts, addressing solutions to portfolio reconciliation and dispute resolution approaches, and implementing various digital documentation strategies. As consultants, it is critical for our team to fully understand the operational risks and complexities these topics pose to our clients beyond the initial investment made to support earlier phases of UMR non-cleared OTCs. Monticello realizes the importance of leveraging existing data strategies and ISDAs recommended CDM (Common Domain Model) and processes across other asset classes to reduce redundancies and boost productivity throughout all of collateral management operations. We look forward to working with our clients to support their collateral management transformation initiatives in 2021 and beyond.
Honoring Dr. Martin Luther King Jr.!
Today, we as a firm honor the visionary Dr. Martin Luther King Jr., as he not only set an example for all of us to speak up and do for others, but he dedicated his life towards improving communities, not just his own but for all diverse people. As a diverse owned firm, we appreciate the groundbreaking vital work that Dr. King achieved during his lifetime, and we will continue to strive to follow in his selflessness with our work with our community partnerships today. Thank you Dr. King for your leadership!
Monticello Joins Conversation on Cybersecurity - The Cost of a Breach
The Monticello team joined a WSJ cybersecurity conversation to look at the complexity and analysis required to understand the true cost of a cybersecurity breach. Notable breaches have cost firms in excess of $100M and during the pandemic it seems the frequency has only increased. As consultants, it is critical for our team to fully understand the cost of cybersecurity failures and work with CISO’s to educate their leadership teams on the full impact. We look forward to working with our clients to support their cyber initiatives in 2021 and beyond.
Komera Org 2021 Support!
In Rwanda, “Komera” means “be strong, have courage.” The Komera Organization develops self-confident young women through education, community development, and sport - Monticello was honored to kick off 2021 in supporting Komera’s valuable mission! Please join us: About — Komera
Monticello Participates in Leadership Vision for Data & Analytics
The Monticello team participated in a conversation with Gartner distinguished Analysts to discuss challenges and trends that will most impact data & analytics leaders in the coming year. As an industry leader in research and advisory services, Gartner provided valuable insights into the importance of recognizing and reporting business value from Data & Analytics. Analytics is one of the biggest game changer technologies to emerge stronger from the COVID-19 crisis and will continue to be at the forefront of Boards of Directors going forward. As consultants, it is critical for our team to stay at the forefront of innovation and enable our clients to make the most of their data to effectively drive business strategy to achieve growth and remain competitive.
Monticello Holiday Trivia Night
The Monticello team gathered for one last time in 2020 to spread some cheer during Holiday Trivia Night. Good times were had by all as we had a nice toast to a great year ahead. Cheers to 2021!
Cheers to 2021!
Supporting the American Cancer Society’s Staten Island Chapter!
Cancer treatments can compromise immune systems, making cancer patients even more vulnerable to COVID-19. This year Monticello Consulting Group again has decided to support The American Cancer Society’s Staten Island, NY chapter in their vital mission to keep critical support and resources available to cancer patients during this difficult time – please join us in donating if you can! | The American Cancer Society
Happy Holidays from Monticello Consulting Group!
As we turn the page on a long and challenging year, we are reflecting on the spirit of community that has seen us through. We thank you deeply for your continued support and hope you will have a chance to take a breath, unwind and get ready for an exciting new year together.
Monticello Participates in American Banker Digital Banking 2020 Conference
The Monticello team was excited to participate in this years Digital Banking conference hosted by American Banker. While financial institutions continue to evaluate customer needs and daily operations, one subject comes to the forefront - the accelerating digital imperative. The survival of banks depends on making smart technology choices in the way they handle data and interact with customers. It was great to learn about the latest insights and innovations across the industry and we look forward to working with our clients on their digital transformations in 2021.
NAF Org!
NAF Organization 2020 Support!
Now more than ever community partnerships are so important, given the difficulties many have faced this year with COVID-19. Monticello ends 2020 with supporting one of our favorite charitable organizations, NAF - the mission of NAF is to solve some of the biggest challenges facing education and the economy by bringing education, business, and community leaders together to transform the high school experience. Cheers to the impactful work your team continues to forge ahead with and we look forward to growing our partnership with you in 2021. To join us in donating: NAF
HWW/Children's Village 2020 Virtual Toy Drive!
This year’s High Water Women/Children’s Village’s annual toy drive looks different due to COVID-19, yet we are still pushing forward with supporting this great cause! If you’re interested in joining us, please reach out and we’ll happily provide the children’s wish list for you! : )