Customer Ask
We have manual processes to manage the risk models, a time consuming and tedious way to commission, update or decommission risk models.
We implemented the “Model Risk Management” solution for a mid-sized Banking & Financial Services Organization to manage risk models under the enterprise governance framework, improving the efficiencies by 30%.
“As a Risk Manager, this solution enabled me to govern the risk models across three lines of AML defense."
– VP, Risk Management
Regulatory and Compliance Office
60%
30% Improved efficiency on Updation of Models
(New, Modify or Decommission of models)
The Solution
Governing the risk models enable organizations to the commission, decommission, or modifying models. Model Risk Management provides comprehensive documentation, workflow, auditing, and reporting capability to Risk Models. Model Risk Management is a critical compliance requirement that ensures proper documentation and evidence for any change management aspects.
Core Features
- Inventory management & Effective documentation
- Monitoring and Auditing
- Auditable Workflow & Assessment tests (Qualitative and Quantitative)
- Data Quality Report & Alert notifications
- MRM Dashboard
