CC Pace Partners with FIRM Advisors for LIBOR Transition

CC Pace & FIRM Advisors are partnering to provide services to financial institutions for the upcoming LIBOR to SOFR transition.
FAIRFAX, Va. - Jan. 13, 2020 - PRLog -- CC Pace Systems, Inc. (CC Pace), a leading Financial Services consulting provider, announces a strategic partnership with Fiduciary Investment and Risk Management Advisors, LLC (FIRM Advisors, FIRM), an expert advisory firm for Banking, Insurance, Mortgage and Capital Markets. They will provide services to the financial services industry for the upcoming London Interbank Offered Rate (LIBOR) to Secured Overnight Funds Rate (SOFR) transition taking place at the end of 2021.

The regulatory pressure for the industry transition from LIBOR to SOFR creates fundamental challenges, particularly for mid-tier financial institutions. Given the volume of products and processes that have to change, they will aid in the preparations that need to start immediately for these organizations. "For years LIBOR has served as the de facto standard of interest rate index for the majority of financial transactions," said Craig Hughes, Managing Director, Financial Consulting at CC Pace. "The unwinding of such a deeply entrenched underpinning of financial products and contracts is unprecedented, making the combined service offerings of FIRM Advisors and CC Pace critical for the successful transition required of these institutions."

FIRM and CC Pace have created a transition program for their clients to identify issues and execution gaps, improve operations, conduct complex data analysis, validate models, advise on product pricing, valuation, alternative replacement strategies, devise hedging scenarios and help resolve governance issues. "The transition away from LIBOR is going to be complex, multi-dimensional, and quite the opposite of a simplistic replacement that many financial institutions are misunderstanding it to be", said Mohit Sudhakar, Managing Partner at FIRM.  "There are significant synergies between our firms to further develop our joint eco-system.  We are thrilled to partner with CC Pace to provide strategic advisory services and deliver innovative solutions for the transition challenges."

FIRM Advisors is an expert advisory firm providing strategic consulting and innovative solutions for business growth and risk management of clients in the financial services industry.  FIRM's Advisors, principals, and expert consultants are industry-recognized thought leaders for the LIBOR Transition with active hands-on experience in trading, hedging, modeling, processing, and risk managing billions of dollars of mortgages, debt, derivatives, loans, liquidity and capital products.

CC Pace is a leading provider of Financial Services consulting services. Founded in 1980, CC Pace is nationally recognized for solving business problems and delivering high-impact results that improve their clients' productivity and competitiveness. A management and technology consulting firm, CC Pace specializes in the financial services and health care industries. Headquartered in Fairfax, Virginia, CC Pace is a privately held company, serving both commercial and Government clients.

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