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Continuous model risk governance and ongoing monitoring

Model Risk Management

Create and maintain your model inventory using effective workflow management with robust governance frameworks.

Why choose Model Risk Management?

Model Risk Management, a solution on our Connected Risk platform, enables your teams to manage workflow processes with an enterprise-wide approach. The solution adapts to your organization by providing a robust and streamlined workflow, and enables your teams to evidence an ongoing monitoring function and continuous model risk governance.

An agile, phased approach to implementation ensures a methodical deployment that reduces risk, engages your key stakeholders during the necessary stages, and aligns with organizational governance requirements.

The design can be easily refined retrospectively to match any changes you want to make to your risk management processes.

Features & benefits

What you get with Model Risk Management

Reduced risk of non-compliance

Inform the right stakeholders of deadlines and actions, for a faster response to changes impacting your models.

Holistic approach

Track models across various risk thematics using a single inventory store to reveal potential redundancy and duplication.

Complete document access

Get a multi-tiered security model with controlled access, version history, and easy search capabilities.

Flexible data mapping

Enhanced drag-and-drop and powerful data mapping capabilities to create​ additional taxonomies and linkages​ to neighboring risk areas.

How it works

Model Risk Management in action

Upload documentation at any phase

Policy documents and regulatory references can be uploaded and mapped to the relevant models. This can be integrated with other document management systems. Add commentary, committee meeting minutes, and sign-offs, and capture any amendments made during this process. Teams receive warnings as they try to upload a file if it already exists in the system. They are then prompted to link to the existing file rather than upload a duplicate, which encourages best practice document referencing.

End-to-end governance workflow

Data, documentation, and emerging issues are available on the go through a simple yet powerful workflow. Receive timely alerts for approaching due dates and overdue activities as well as email notifications for relevant action details and direct links to the updated pages. Leverage operational statistics to uncover potential blockages, as well as regular automated review cycles for the periodic assessments of models.

Identify and track issues through to resolution

Perform issue identification for point-of-source capture in near real-time. Manage issues through simple resolution and sign-off workflows, track progress with responsible owners, and monitor expected due dates with associated email alerts.