Ask a bank what made its first significant risk transfer trade difficult and you will hear a lot about how operations happen.. Tranching, the capital treatment, getting the credit committee and the regulator comfortable, finding the right investor. All of it is hard work, requires exceptional planning and team work, and all of it must be finished within a few months.
Once the deal then closes and the actual work starts: which may be equally hard as the structuring part.
You need to do portfolio selection for the next trade. Then replenishment tests. And there comes the ongoing monitoring of a reference pool that keeps changing. Investor reporting must be on schedule regardless how busy the quarter is for you. This is often something that does not get discussed enough at conferences, because it is not that interesting until it is your job daily. At the same time, most programs still run on spreadsheets built by two or three people who know where the numbers come from.
That is the part where we help our clients and what we will be discussing throughout the SCI World Risk Sharing Week 2026 in London. Stay with us and read where you can meet us to learn more.
New Issuers’ Forum 2026: Technology and Portfolio Management
At the SCI New Issuers Forum on 7 October, an invitation-only day for banks that are active in synthetic securitization or seriously looking at it, our CEO András Vajda and Managing Director, Eric Andersson are moderating a discussion around the topic on how data and technology can improve portfolio selection, monitoring, operations, reporting, and the efficiency of an SRT program.
“The interesting question is not whether technology helps – everyone accepts that it does. The question is which part of the program you fix first, and most teams get that order wrong. They automate reporting because reporting is what gets a lot of visibility, and they often leave portfolio selection sitting in a spreadsheet, but this is where the real money is and can impact your balance sheet massively. I am looking forward to hear from the participants at the table what actually costs them the most time and then work out the most suitable solution for that. I can’t wait to meet everyone in London!”
András Vajda, CEO, iconicchain
Roundtables work when the people at them are honest about where the challenges are, so if you are attending and there is something you want raised, you can tell us beforehand and András will make sure to include it during the discussion.
Operational management and reporting
On 7 October, day two of SCI’s SRT Training for New Market Entrants, András Vajda is running the Operational Management and Reporting session from 09.30 to 10.45. It covers waterfall calculations, including replenishment, the handling of triggers and the management of defaults, then reporting towards investors and regulators, ESMA templates and COREP.
“The real challenge is making sure you have a reliable, automated, and proven way to get your numbers right: the waterfall calculation, trigger tests and default definitions that all sit in different places, maintained by different people. You only find the discrepancy when you go to report, which is often too near the deadline. During this training, will go through the pitfalls and the best practices to address those.”
András Vajda, CEO, iconicchain
More information >>
SCI Risk Sharing Awards: nominated for Service Provider of the Year
We are on the shortlist for Service Provider of the Year at the SCI Risk Sharing Awards, alongside BNY, KPMG, Ocorian and Oxane Partners. The category covers advisory and analytics firms, brokers and intermediaries, trustees, rating agencies and STS verification agents that stood out in the SRT market between 1 July 2025 and 30 June 2026. Nominees were assessed on mandates won, technological and product progress, engagement with clients and the market, and their contribution to how the market develops.
We are the software company in that group, and we think that says something about where the market is going. The operational layer of an SRT program is now treated as something worth judging in its own right.
“Being on this list next to those names is not a small thing for us. We got there by doing the unglamorous work, the reporting, the monitoring, the data plumbing that keeps a program running long after the deal is done. That is what our clients rely on us for, so it is good to see it recognized.”
András Vajda, CEO, iconicchain
Read the full announcement on our website >>
SCI Risk Sharing Awards: We Are the Official Sponsor of the North American Deal Category
We are also sponsoring the North American deal category at the SCI Risk Sharing Awards.
“Europe has had a functioning risk sharing market for years and we have been actively working with a great number of clients to help to run their programs. North America is where the growth is now, and deals are emerging rapidly. We have been partnering with US banks to bring our expertise to their teams, so backing this category was an easy decision.”
Eric Andersson, Head of Sales, iconicchain
At the World Risk Sharing Summit
András and Eric will both be at the SCI World Risk Sharing Summit where we are also a sponsor alongside attending the event.
“I want to meet with issuers who have done two or three deals and are starting to feel the weight of running them, and with the ones deciding whether the first deal is worth it at all. Those two conversations are extremely useful for us, but also for the people we meet.”
Eric Andersson, Head of Sales, iconicchain
Come and meet us
iconicSecurities exists because the operational side of structured finance is where cost and risk quietly add up and because the tooling and workflows most teams inherited were never designed for programs that run continuously.
If that sounds like your week, London is a good place to talk about it. Connect with Eric or András via LinkedIn or leave us a message via the website and we will reach out to schedule a meeting with you.