Our CBS (Core Banking System) project is a generational project which will transform the way we do business at the Bank. We looked for a partner to engage and collaborate with us in navigating the challenging request for proposal (RFP) process and subsequent review and analysis process. Based on our prior relationship with Epsilon we engaged Epsilon to be our strategic partner. The Bank and Epsilon collaborated in a strategic and collaborative manner to conduct a vendor search, which originated with the development of an RFP document, identifying key vendors in the space, developing a methodology to score the proposals, helping stakeholders evaluate the responses, developing a detailed proof of concept approach, evaluating vendor demonstrations and assisting with final vendor selection.

I am happy to say that Epsilon met or exceeded our expectations on this project. We successfully completed the RFP project and selected a system that was right for our business.

I would consider using Epsilon again for a similar RFP process.

Chief Financial Officer
Federal Home Loan Bank

“Our innovative asset management firm is a uniquely capitalized structured credit products company and was founded in December 2004. During our startup phase, Epsilon team members were instrumental in the setup of a new support platform by first understanding our requirements and then configuring the platform for our trade capture, processing, reporting and accounting needs. Subsequently, Epsilon remains an extension of our internal support team providing practical and efficient solutions. I would recommend Epsilon as a reliable and knowledgeable partner in Capital Markets space.”

Senior Vice President – Controller
New York based Asset Management Company

The Bank partnered with Epsilon to implement a comprehensive hedge accounting (FAS 133) solution. We engaged Epsilon to work with us in a comprehensive manner on this complex and critical project. It required a well-coordinated action plan involving multiple functional areas of the Bank working closely with one another and Epsilon.

We were impressed with their expertise in trading platforms, knowledge of our business, hedge accounting domain, as well as translating our requirements in a prudent and cost effective solution. We were pleased with the final product that was developed.

I would recommend the Epsilon team as a results-oriented consulting partner in the capital markets/treasury space.

Chief Financial Officer
Federal Home Loan Bank

We engaged Epsilon to validate some of our mission critical valuation and hedge accounting models. We valued the expertise level of the Epsilon team members both technically and their knowledge of our business.

Epsilon produced a valuable report which was detailed and thorough. We will consider Epsilon for further model validation work.

Chief Financial Officer
Federal Home Loan Bank

“We engaged Epsilon to partner with us to integrate data management processes for a critical trading platform. This project had pressing deadlines and a tight budget. The Epsilon team was highly knowledgeable, aware of our business, and excellent in collaborating with our business and IT stakeholders to deliver the best possible solution. Throughout our project, we were very pleased with our working relationship, the responsiveness of the Epsilon team and the solution they designed for us. The project was completed on schedule and on budget and clearly demonstrated high-impact results. We would certainly recommend Epsilon for any project in the Capital Markets space.”

Vice President, Risk Group
Federal Home Loan Bank

When the Bank elected to take on a project to replace its core transactional system, we knew we needed a partner to help us evaluate the options available. Epsilon provided the strategic guidance we needed throughout a rigorous vendor search and evaluation process. They worked closely with our team to develop a thorough Request For Proposal (RFP), select qualified vendors from which to seek a response, and develop a systematic way to evaluate and score the responses. Epsilon continued to collaborate with the Bank’s stakeholders through a comprehensive Proof of Concept process in order to thoroughly evaluate the capabilities of the solutions proposed by vendor finalists. Epsilon concluded their work by assisting with preparation and presentation of a final recommendation to the Bank’s Board of Directors.

Epsilon’s knowledge of the marketplace and of our business requirements was invaluable throughout this process. With their assistance, I feel that we were able to select the optimal solution for the Bank’s needs. I would highly recommend their services in this area.

Retired CIO
A Major U.S. Bank

We engaged Epsilon to validate our mission critical valuation and hedge accounting models. We appreciated the expertise of the Epsilon team; Epsilon understood the valuation and pricing methodologies for our portfolio as well as market standards as they apply to basic interest rate processes and the OIS curve.

Epsilon produced an excellent report, which was detailed and thorough; the report was written to be easily understood by all stakeholders at the Bank– from traders to our hedge accounting team. We were impressed with the final product and Epsilon’s team.

Former AVP, Market Risk Manager
Federal Home Loan Bank

As part of looking for a solution to replace our core banking system, we engaged Epsilon to assist us in scoping and drafting an RFP. We found Epsilon’s approach to constructing the RFP to be highly effective and efficient. Working together with our IT team, Epsilon ensured that all stakeholders were identified and consulted as to their requirements. Epsilon then assisted us in reducing these requirements to their abstract essentials, which were then incorporated in the RFP to allow for objective evaluations across multiple vendors. The RFP project was completed earlier than originally anticipated, and the final product was considered to be of high quality by all stakeholders.

A critical component of success of this project was the engagement model that allowed Epsilon to partner with our IT groups to facilitate meaningful and targeted discussions with our business stakeholders. Epsilon’s domain knowledge of our business, of other similar institutions, and of leading trading platforms in the industry allowed these discussions to be focused and collaborative, which increased stakeholders’ buy-in on this critical phase of the project. We would recommend Epsilon for projects such as these.

Director of Accounting Operations
Federal Home Loan Bank

We engaged Epsilon to validate our mission critical valuation and hedge accounting model. We were impressed with the level of expertise of the Epsilon team members. I am happy to say that Epsilon produced a quality report, which was detailed, thorough and presented in a way that was easily accessible to all stakeholders at FHLBank, from our Capital Markets team to our hedge accounting team. All findings were explained in a collaborative and courteous manner. We were very impressed with the product and the team and are pleased to be partnering with Epsilon.

Vice President, Risk Group
Federal Home Loan Bank

After assisting us with the RFP and vendor selection process, the Bank elected to engage Epsilon to assist us with the implementation of the selected system. This was an extensive project involving a large team. Epsilon was engaged to provide specific deliverables for the project as well as to assist the Bank’s project management by providing ongoing guidance and coordination. Epsilon brought expert resources to the project with extensive knowledge of the application and of our business processes. Their experience with projects of this nature also helped us organize the overall effort and design an effective approach to the implementation. All Epsilon deliverables were completed and delivered within the scheduled timeframe and Epsilon’s contributions to the control and coordination of the overall project effort were greatly appreciated.

I would recommend Epsilon’s services with respect to resourcing and guidance on large, complex projects.

Retired CIO
A Major U.S. Bank

We engaged Epsilon to validate our mission critical valuation and hedge accounting models. We appreciated the expertise of the Epsilon team; Epsilon understood the valuation and pricing methodologies for our portfolio as well as market standards as they apply to basic interest rate processes and the OIS curve.

Epsilon produced an excellent report, which was detailed and thorough; the report was written to be easily understood by all stakeholders at the Bank– from traders to our hedge accounting team. We were impressed with the final product and Epsilon’s team.

AVP, Model Validation Program Manager
Federally-Chartered Wholesale Bank

The Bank has a significant investment in our Principia application and a heavy reliance on it to perform mission-critical functions including valuations and FAS 133 accounting. As such, we felt that we needed to take steps to ensure timely and effective support for any issues that occurred with the system. We contracted with Epsilon to provide this type of ongoing support. The Epsilon team exhibited dedication, responsiveness, extensive knowledge of the Principia application, and a thorough understanding of our business processes. The result was top-notch level of support from a dedicated team, often exceeding my expectations when providing assistance at critical times in order to meet the Bank’s processing or reporting deadlines.

I would not hesitate to recommend Epsilon for similar ongoing support or resourcing needs.

Retired CIO
A Major U.S. Bank

Hedge accounting (FAS 133) is a crucial element of the business practices of FHLB Des Moines. When we made the decision to implement a more comprehensive and automated solution for this function, we turned to Epsilon Consulting for assistance. Epsilon brought depth of knowledge on hedge accounting and resources that were committed to helping us implement a solution in a timely and cost-effective manner.

This was a complex and extensive project, involving several key areas of the Bank, and Epsilon worked with us in a collaborative and efficient manner. The resulting outcome was well-received by all of the stakeholders. I would not hesitate to recommend Epsilon to anyone seeking a collaborative and effective partner in the capital markets, treasury, and accounting areas.

Retired CIO
A Major U.S. Bank

Federal Home Loan Bank engaged Epsilon Consulting Services to assist with the integration of two mission critical trading platforms. This project had pressing deadlines and a tight budget. We were pleased with the solution that Epsilon designed for us. The project was completed on schedule and on budget. The Epsilon team was highly knowledgeable, aware of our business, and delivered solutions that met our requirements. I would recommend Epsilon for projects in the Capital Markets domain.

Director
Federal Home Loan Bank

The Bank engaged Epsilon to provide on-going support for Principia, which is a mission critical platform used for derivative accounting, valuation and hedge accounting. We are very pleased with the manner in which Epsilon has engaged with the Bank. We have found Epsilon’s team to be highly effective and timely in responding to our support needs through their hard work, focus, and knowledge of the Principia platform, and knowledge of our business. On several occasions, the team went “beyond the call of duty” to provide the support that we needed to meet our reporting deadlines.

We have been very pleased with this service arrangement and would recommend Epsilon for their external resourcing/support needs.

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