How does an annuity potentially decrease bequests to heirs?

Internalization of retail trading volume can circumvent NBBO protocols. What procedures can restore confidence for liquidity providers?

Dodd-Frank sets position limits on commodity derivatives contracts. How can data warehouses help establish market breadth and volume?

66% of retirees and 75% of pre-retirees have no formal plan to manage income, expenses, and assets in retirement. What planning tools help overcome avoidance?

How can assumptions about skewness and kurtosis in investment returns improve Sharpe ratio analysis?

Lack of personalization, no perspective on other assets, uniform risk profile, singular glide path, no deculumation provision. What alternatives are available for these target date fund deficiencies?

How can regression analysis help construct portfolios on the efficient risk frontier?

Nearly 25% of middle-income Americans save nothing annually for retirement. What approach can encourage higher savings rates?

What role should inflation assumptions play in retirement planning?

Over the 20th century, inflation eroded U.S. purchasing power by 95%, reducing a 1900 dollar to a 2000 nickel. What investment approach combats the effects of inflation?

Regulatory reform could include increased capital minimums and a conservation buffer that restricts dividends and stock buy backs in times of distress. How should equity pricing models adjust?

How should pricing models adjust for access to dark trading pools?

How can valuation and liquidity models improve with issuer disclosure of asset quality in ABS securitizations?

What structure of swap execution facilities (SEF) will balance a need for trade transparency with breadth of standardization?

U.S. regulatory rules do not always require capital to cover counterparty credit risk in credit derivatives. Should an economic model?

A 2013 study found that the ability to replace income in retirement is not tied to income level but rather to savings level, with 10% savings as the key threshold. What is your savings history?

Dodd-Frank elminated the use of credit agency ratings in capital calculations, yet Basel liquidity rules rely on them for securitizations. What substitutes are viable and how can credit models adapt?

How does investment cost relate to investment performance?

How can innovation in liquid investment vehicles move an efficient frontier? Can new asset classes move it up and to the left?

With updated regulatory requirements for liquidity risk, how can firms take advantage of thinly traded securities?

Fewer than 33% of workers had defined-benefit coverage in 2010, down from 88% in 1983. Investment responsibility now resides with employees. How should they adapt?

Today, there is a 25% chance that at least one member of a 65 year-old couple lives to age 97. With a potential need for 30-40 years of retirement income, how can one guage retirement readiness?

40% of retirement plan sponsors admit that they don't fully understand their fiduciary responsibilities. Does this situation create liability?

How do mutual funds disclose costs, such as 12(b)1 fees and sub-transfer agent fees, in reported expense ratios? Can plans avoid these costs in other investment vehicles?

The % of workers under 40 who said their retirement program was an important factor in accepting their jobs: 28% in 2009, 63% in 2011. How can employers differentiate their retirement plan and attract top talent?

What role should longevity insurance play in mitigating the risk of outliving your assets?

Within active investment approaches, how does past performance relate to future performance?

What asset allocation strategy is prudent given increased market volatility and higher correlation coefficients across asset classes?

In tight credit markets, how should investment managers adjust their ROI on leveraged private equity investments?

How do asset classes perform in various economic cycles? How should these correlations influence asset allocation?

An ERBI study found that 55% of working adults do not know how much they need to save to retire comfortably. What is an appropriate retirement adequacy savings formula?

Over the last century, domestic stocks have outperformed bonds and cash over almost every 20+ year period. What are the investment implications for retirement income that may need to cover 30 years or more?

How can a firm substantiate, through a principle-based approach, that a hedge derivative isn't speculative?

A plan sponsor is responsible as a fiduciary for accumulation of participant assets prior to retirement. Should it be responsible for decumulation in retirement?

67% of U.S. workers say they are behind schedule in saving for retirement. 42% say they don't currently save for retirement, with 60% over age 55 having less than $100k in retirement savings. What's the solution for increased savings incentives?

How can firms assess the net effect of OTC derivatives migrating to guaranteed exchanges, balancing increased costs and margin requirements with the elimination of credit risk?

Large Cap U.S. stocks have produced positive returns over every 20 year period since 1926, but also declines of 68% in one year and 50% over 18 months. What asset classes best offset equity volatility?

62% of private sector employees had a defined benefit pension in 1980. In 2012: 7%. How should workers manage the loss of guaranteed retirement income?

A 2013 study found that investors who work with a financial advisor replace 80% of their working income in retirement, while those who don't replace 56%. What is the value of financial advice?

How can a consistent definition of risk lower implementation and maintenance costs for economic analysis and regulatory compliance?

Fund Selection. Asset Allocation. Rebalancing. Increased Savings. Which variable is most important for retirement income adequacy?

The net stable funding ratio will likely diminish the market for short term funding, such as commercial paper. How will this rule affect modeled forward spreads on longer maturity corporate debt?

50% of plan sponsors say employee participation is their paramount concern. What is the most effective way to engage participants?

The worst performing funds are 2.5 times likelier to be removed from a plan menu if they are unaffiliated with the trustee. How does conflict of interest threaten fiduciary duty?

Capital quality initiatives, such as leverage ratios, will further de-lever bank balance sheets. How will financial modelers need to adjust bond spreads?

What role should currency play in asset allocation?

Past regulation addressed ABCP programs as securitizations. How can risk models adjust to new wrinkles such as CDO SIVs with parent guarantees?

Historically, health care costs have risen at about 2x, and long term care insurance about 3x, the rate of a comprehensive inflation index. What are the implications for retirement income planning?

ISDA eliminates restructuring as a credit event. How should pricing and credit models for credit default swaps change?

Are the probabilities of economic cycles equivalent across sovereign states? What if fiscal and monetary policies are governed at different levels, e.g., Europe?

How can offshore, private equity, and hedge funds build the infrastructure to meet regulatory reporting and internal control requirements under Dodd-Frank?

Research shows the potential for deeper recessions and slower recoveries moving forward. How can low volatility portfolios enhance long-term returns in these environments?

Research suggests that most people should save between 6-19% of their income for retirement, depending on their age, yet less than 1/3 actually do. What can spur employees to save more?

How can a liquidity risk model include an estimate of funding concentration risk?

By 2030 almost 20% of the U.S. population will be over 65 and in need of retirement income. What investment approach can best satisfy this need?

How can factors for cognitive bias and behavioral economics improve pricing and risk models?

What investment vehicles can lower plan costs for small to medium sized pension plans?

Gen X investors control $3 Trillion in financial assets, yet more than half of them admit to having little or no knowledge of investments and financial products. What advice distribution channel can reach the greatest number of them?

What internal processes are necessary to support securitization modeling for Special Purpose Entities and Asset Backed Commercial Paper conduits?

Short interest and pricing provides important market information. With a ban on short sales, what substitutes can market participants utilize?

Client account trading can circumvent the Volcker rule. What are the implications for monitoring market and concentration risk?

How should studies on risk factors in market capitalization and price to book value affect asset allocation decisions?

How can a yield curve interpolation method improve the accuracy of financial modeling?

In 2011, 29% of defined contribution plans included a self-directed brokerage window. What does this mean for 404(c) compliance and participant investment decision making?

Appeals courts ruled that company stock in pension plans is entitled to the presumption of prudence, a ruling the Supreme Court declined to review. Is company stock practically prudent as an investment option?

Should plan sponsors include insurance products, such as longevity insurance and annuities, as investment options? What are the regulatory guidelines?

Is leverage an acceptable mechanism to achieve a target risk level?

Brokerage commission and bid-ask spread costs are not embedded in mutual fund expense ratios. To what degree can these hidden costs affect fund performance?

How can triggers for tax loss sales help limit tax liability and improve portfolio diversification?

How can an institution facilitate a regulatory sandbox environment for Quantitative Impact Studies and portfolio stress tests?

How can NRSRO severity ratings improve internal credit loss estimation?

If Fannie and Freddie dissolve and lenders are forced to pay the government insurance premiums to guarantee mortgage securities, how could loan pricing adjust?

How can return and risk-based portfolio management improve retirement readiness?

The 10 year period that ended in 2009 produced the worst domestic stock performance ever. What are the implications for portfolio risk management?

Decimalization in securities quotation ushered in the era of high frequency trading. What is the effect on volatility assumptions in risk modeling?

How can empirical requirements for “significant losses” in the trading book improve the accuracy of a stressed VaR calculation?

How should asset class correlation models adjust to data from the 4^th Quarter of 2008? What are the effects on Modern Portfolio Theory?

How can a custody business hedge against a ban on short selling?

Studies show that increased savings, not investment returns, are the strongest catalyst for a secure retirement. What can sponsors do to encourage participant contributions?

How can synthetic NAVs hide the true costs of an investment product?

Why is index construction especially important in emerging markets?

How can securitization issuance volume contribute as a model variable for market liquidity risk quantification?

How should CDS derivative modeling account for jurisdictional differences in credit event payout triggers to protection buyers in bankruptcy?

Research studies indicate 401(k) participants who seek financial advice are more diversified and realize better long-term investment returns. How should plan sponsors implement an advice-based model?

Retirees are retiring earlier and living longer. Investment returns may not approach historical averages. What is an appropriate drawdown rate assumption for retirement spending?

With increasing expected life spans and potentially muted forward investment returns, what is an suitable investment drawdown assumption in retirement?

With substantial interbank lending, how should "too big to fail" legislation affect credit default & loss modeling?

What approach can circumvent Required Minimum Distributions from qualified retirement accounts?

What's the best method for estimating liquidity haircuts for assets other than cash and sovereign debt?

How should back-testing calibrate a VaR model?

How should a risk model adjust to changes in book value and cash flow from a preliminary loan modification?

Fidelity faces a class action lawsuit alleging fiduciary self dealing in float interest. How can turnkey pension providers claim fiduciary status?

Numerous studies show that movement along an efficient frontier accounts for approximately 90% of investment return variance. What approach can move the frontier itself to improve investment returns?

How can firms reposition their collateral inventories to meet requirements for liquidity buffers?

How does short selling influence the correlation statistics for traditional asset classes? Can short correlations be captured through hedge fund betas?

Matrix pricing can misrepresent security valuation in an index. How should a portfolio reporting solution adjust?

How can a firm adhere to a common fiduciary standard for investment advisors and broker-dealers and related evidentiary reporting?

When exchange clearing is unnecessary, how can a firm support federal monitoring requirements for OTC derivatives contracts?

83% of DC pension participants withdraw their entire balance within 3 years of retirement. Should pension managers strategically position the DC pension as an accumulation or distribution vehicle?

If Federal monetary policy pushes interest rates near a floor of 0, how can a risk sensitive approach to net interest margin and market risk capital modeling improve decision making?

53% of American households won't be able to support their working lifestyle in retirement, a $6.6 trillion savings deficit. How can employers address this problem?

What role should external credit agency benchmarking play in an economic credit model, given their inaccuracies in during the 2008 credit crisis and the emergence of structured finance deals without ratings?

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Company Profile

OUR HISTORY AND FUTURE

Since its inception in 2002, eBIS has dedicated itself to financial services and the challenges facing this industry. We have delivered numerous solutions to help our clients implement risk-appropriate investment portfolios, understand their businesses better, execute a strategic vision, meet regulatory requirements, and improve internal processes (see our success stories). Leveraging our knowledge capital in both finance and solution delivery, we strive to build bridges between the two, using questions to generate ideas, and our best practice toolkit to deliver them as solutions.

We created our professional services firm out of two drivers: independent thought and innovation. In our experience, these two factors contribute overwhelmingly to the success of any initiative. Institutions, be they banks, asset managers, regulatory agencies or pension providers, often find success using products or methods in which they've developed a competency. Then things change. New opportunities arise. New requirements are mandated. It's those firms that are agile enough to adapt that thrive, using independent thought and innovative ideas as the catalyst.

On each engagement, we commit to the innovation that drove our creation. The ability to generate new ideas and the dedication to realize them as solutions: this mantra guides us. We approach every challenge with the objective of thinking in new ways, questioning conventional wisdom until we've exhausted all options and arrived at the best one. We are financial modelers and financial architects with a passion for solving problems and a commitment to the satisfaction of our clients.

As our industry continues to evolve, with vicissitudes in structured products and derivatives, increased sophistication in portfolio modeling, and a dynamic regulatory landscape being shaped by the aftermath of the global credit crisis, innovative financial solutions are needed now more than ever. eBIS is here to help.

OUR NICHE

Our corporate metaphor is the span of a bridge, addressing a gap we've observed in the professional services sector. Strategy consultancies sell transformative ideas. Large implementation partners engineer proprietary bundled solutions and support them with a services business unit. What connects these two? Further, what firm can deliver a custom solution when the proprietary solution proves too rigid, and the overreaching transformation too onerous? eBIS is this company, bridging ideas and solutions by offering independent views that add business value.

We are a privately held professional services firm, focused on financial services. eBIS lies in the niche of small, industry-specific firms comprised of expert professionals who provide independent thought and depth of knowledge in specific areas. We believe the presence of deeply qualified, independent thinkers is vital to the success of any initiative, and often difficult to find through traditional consulting partnerships. Whether you need better cohesion between the latest academic research and bundled solution offerings on an enterprise project, an independent view on a tactical initiative, or something in between: our role as bridge builders is important, one every initiative should embrace.

Our clients agree: the eBIS client list includes top ten international and U.S. financial institutions in commercial and retail banking, investment banking and asset management.

How can we help you? Contact us if you need a reliable bridge to get from requirements to business benefit, while managing risk and maximizing return on investment.