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Model Risk Management Application

Mitigate risk at every stage of the model lifecycle and comply with reporting requirements through centralized documentation, automated processes, and reporting.

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Model Risk Management

What is the Model Risk Management Application?

The Application mitigates model risk by centralizing documentation of financial models across the organization within a single inventory and standardizing the development process. Automated validation workflows ensure that every model is assigned a classification tier and any findings are remediated.

Centralize Model Risk Management

Standardize, document, and measure the performance of your model risk management framework to comply with regulations and mitigate the risk of incorrect models.

Improve visibility into the models used across your organization

Keep a standardized model repository with key details like purpose, type, limits, and needs

Regularly validate models and assign change requests as needed.

Model Risk Management 02 Features 01

Standardize the Model Assessment Process

Develop, document, and validate models in a consistent and standardized way and align your stakeholders to a repeatable model risk management process that prioritizes validations and remediations based on model tier or impact on the business. This ensures every active model is assigned the appropriate tier classification and regularly reviewed for accuracy.

Model Risk Management 02 Features 02

Quickly Mitigate Model Validation Findings

Quickly action model validation findings by documenting related weaknesses and remediation plans, owners, and progress in one platform. The application allows for tracking changes made to an existing model so you can ensure all stakeholders have access to the most accurate and up-to-date model available at all times. You can implement remediation plans as quickly and efficiently as possible to reduce associated risks.

Model Risk Management 02 Features 03

Monitor Model Accuracy and Risk With Pre-Built Reports

Pre-configured dashboards and reports help your organization quickly analyze the status and results of model evaluations. Easily capture and report data like complete model validations, change requests, findings, and more to ensure model accuracy and effectively inform strategic business decisions at every level of the organization.