Vlad Eidelman, Chief Scientist at FiscalNote, Joins Summit’s Advisory Board
Summit was excited to welcome Vlad Eidelman as the newest member of our advisory board in January 2022. Vlad is the chief scientist at FiscalNote and will bring valuable expertise in data science and AI to Summit.
Summit Recertified with the National LGBT Chamber of Commerce
Summit is proud to announce that we have recertified with the National LGBT Chamber of Commerce (NGLCC) as of March 2022. We have been part of the NGLCC since 2017.
The NGLCC is the only national advocacy organization dedicated to expanding economic opportunities for the LGBT business community.
Welcome to Federal Credit Fridays, Our New Podcast Series!
About Federal Credit Fridays: The U.S. government is one of the largest lenders and credit guarantors on earth. Its portfolio is estimated at over $3.6 trillion, as measured by loan assets and the face value of loan guarantees. The government uses credit for a wide variety of policy missions, including housing, higher education, small businesses, rural and urban economic development, infrastructure, and export promotion, among others. This podcast will familiarize you with the vast world of federal credit, and we hope that you’ll learn about similarities and differences between these programs as well as the importance of their work to achieving policy missions within the framework of public-private collaboration.
In our inaugural episode, Susan Craft Hernandez, an expert in federal credit budget execution and formulation at Summit Consulting, discusses the role of apportionments for loan programs with cohort-level credit subsidy scoring. This means that all loans in an annual cohort share a single risk estimation, as opposed to each loan carrying its own individual risk estimation. She shares her tips for success and what to avoid.
In our second episode, Kim Klein, a Summit expert in federal credit, discusses the role of apportionments for loan programs with loan-level credit subsidy scoring. This means that each loan receives an individual risk assessment, as opposed a risk assessment at the cohort level. She talks about the do’s and don’ts of loan apportionments.
Listen to both podcasts here and let us know what you think.
Summit is proud to be working with the University of Maryland to (virtually) host the 8th annual DC DataFest over the weekend of April 22–24, 2022.
What is DataFest?
DataFest is a series of events started and sponsored by the American Statistical Association (ASA). Events are held throughout the year and across the country. Each DataFest event consists of a 48-hour competition where teams of undergraduate students from the local area compete virtually to analyze rich, complex datasets from a major organization.
Our local DC DataFest has been cohosted by Summit and the University of Maryland for the past 8 years. While the pandemic has forced us to go virtual, we’re still excited to help bring together the data science community.
Know any undergraduate students who might want to participate?
The competition is open to undergraduate students from the University of Maryland and other prominent universities and colleges in the DC metropolitan area.
Thank you in advance to all our sponsors, VIP consultants, and teams for ensuring this year’s DataFest is a success!
Summit Leaders Represent at the
Spring 2022 Women in Technology Job Fair
Job seekers got to meet the powerhouse duo of Sarah Sparks Read, left, and Sarah Cunningham at the Women In Technology job fair on March 24, 2022. Seekers learned more about the exciting roles open at Summit and had the opportunity to chat with Summit’s thought leaders in person.
Summit founder and lead economist Albert Lee spoke about accelerating AI in the public sector at Data Coalition’s AI Public Forum in March 2022. Summit has been a proud member of Data Coalition for 2 years.
A collaborative series by Summit and Huron, a Global Consultancy. Authored by Kami Ehrich and Lisa Dailey, with contributions by Teresa Kline
In this blog series, we look at how an office climate assessment is a valuable tool to gain insight into employee perceptions of company policies and procedures. We talk about data collection techniques, engagement in a remote workplace, and a case study of a real organization. Check out the whole series on the Summit blog:
A blog series by Lorenzo Rollhauser, with contributions by Kami Ehrich
In the past two decades, there has been a large shift to online shopping, evidenced by the increase in percentage of total sales rising from 1% in 2000 to 16% in 2019. With this shift, electronic payment methods have adapted to meet the needs of consumers. A prominent development has been the buy now, pay later (BNPL) option. Although BNPL services have only existed for 5 years, they are now available to online shoppers at most of their favorite retailers. While BNPL offers a cost-friendly alternative to traditional credit cards when making a bigger purchase, unforeseen additional fees and interest have caused financial stress among consumers—and prompted concern among government officials.
In part one (What Is Buy Now, Pay Later?), we introduce buy now, pay later and its services. In part two (The Dangers of Buy Now, Pay Later), we talk about the dangers of these services. And in the third and final part, we will discuss potential ways to regulate the services to protect consumers.
Subscribe now to receive part three of this series right in your email inbox!
Latest Episodes
Check out our three-part series on mortgage finance from Milliman’s Ken Bjurstrom and Summit’s Josh Goldberg:
Also, in January, Centri Tech founder and CEO Rey Ramsey sat down with Summit director Josh Goldberg to discuss affordable housing and technology. Listen to the podcasthere.
The ICRC is on the ground actively responding to urgent humanitarian needs in Ukraine. Please consider joining our staff and leaders indonating to the ICRC to support Ukraine.
U.S. Department of Agriculture Rural Development, Financial and Business Support Services Task
Summit won a 1-month follow-on task order under the USDA Rural Development Financial and Business Support Services BPA as a subcontractor to Blake Wilson Group. Our teams support the Credit Modeling Branch, budget execution, budget formulation, and the Office of Accounting and Finance.
U.S. Department of Housing and Urban Development, Risk Management & Capital Assessment Projections
We will continue to support HUD and Risk Management at the Federal Housing Agency. RMCAP is a highly visible suite of econometric models used for loan loss guarantee, credit subsidy calculations, and the annual report to Congress on the financial status of the Mutual Mortgage Insurance Fund.
U.S. Department of Labor Chief Evaluation Office, Administrative Data Research and Analysis
Summit will be helping the Chief Evaluation Office run various equity data analyses on Unemployment Insurance claims data provided by states.
Federal Emergency Management Agency, Data Analytics Support
We will be continuing to help FEMA detect fraud in their Individual Housing Program through data analytics.
U.S. Department of Agriculture National Agricultural Statistics Service, Automated Editing and Imputation System
Summit was awarded the first option year in the NASS project, in which we are creating a production-level automated editing and imputation system that leverages current NASS systems and databases and can be leveraged for use with any survey.
Consumer Financial Protection Bureau, Data Science Support
Summit will be a subcontractor to Integrated Financial Engineering for data support for CFPB investigations.
Federal Deposit Insurance Corporation, Bidder Qualification Assistance
Summit will be supporting the client with their bidder qualification process through the FDIC’s Joint Venture program, which is designed to assist the FDIC with the aftermath of bank failure and disposal of bank assets.
American Heart Association, National Hypertension Initiative Evaluation
Summit will be supporting the AHA by:
Updating the logic model and evaluation design and statistical analysis plan
Performing statistical analysis
Doing OMB PRA and IRB package preparation
Collecting data via Qualtrics survey
Performing a feasibility assessment
Monitoring and providing evaluation technical assistance
Federal Deposit Insurance Corporation
We won the exercise of an option year to validate an additional four models. This is part of our broader Model Risk Management practice.
U.S. Department of Housing and Urban Development Office of Multifamily Housing, Loan Underwriting and Closing
Providing loan underwriting and closing support to help HUD’s Office of Multifamily Housing process their backlog of loan applications, as well as new applications. This is the first project won by our joint venture, NuvoSum.
Federal Financing Bank, Service Organizational Control (SOC-1) Readiness Assessment
Summit won this contract, with support from Kearney & Company, to complete a Service Organization Control 1 (SOC-1) readiness assessment for the Federal Financing Bank (FFB). This assessment will help the FFB prepare for the necessary SOC-1 audit later this year, which will enable the FFB to leverage its nearly 50-year history as a federal lending partner with strong financial management and internal controls and become a provider of loan servicing and accounting to other federal agencies.
Federal Financing Bank, Treasury — Coronavirus Emergency Relief
Summit won this 2-year contract to provide compliance and reporting support to the Treasury CERTS program office.
U.S. Department of Education Office of Federal Student Aid, Next Gen Program Management Support Services
Summit earned a modification to fund data analysis support for the Department of Education's Office of Federal Student Aid in relation to the American Rescue Plan funds to span over the next 6 months.
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Summit Consulting, LLC, 601 New Jersey Ave, NW, Suite 400, Washington, DC 20001, USA, 202-407-8300
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