MODEL RISK MANAGEMENT FOR CONNECTED RISK®
Model risk management empowers your organisation to create and maintain your model inventory using effective workflow management
Models have become more complex and widespread and the increase in regulatory oversight and governance has grown accordingly
Model risk management provides you with a comprehensive approach to model inventory management, enabling your teams to:
Track all models
Track all models, across all risk themes, using a single inventory store, helping to reveal any potential redundancy and duplication within the inventory.
Identify issues
Identify model issues and track through to resolution.
Add documentation
Add supporting documentation to demonstrate methodology and results.
Evidence governance
Evidence necessary governance for independent and regulatory review.
Faster responses
Have a faster response to regulatory changes that impact your models.
Reduce risk
Reduce the risk of noncompliance and recognize potential opportunities.
Empower your model risk management practices with features designed to expand your Connected Risk® solution
An inventory single source of truth for all models including: versions, materiality, relationships, dependencies, with full lifecycle management. This also includes structural taxonomy tags, links to inputs, outputs, and documentation.
A user’s access and security rights are defined by their roles & responsibilities within your model risk management framework. Dashboards, email notifications and collaborative tools engage users and maintain the system.
Model Risk Management provides one-click access to model documentation. This includes document dependencies, version history, review cycles and security access control. Integration with the Committees provides evidence of review and sign off.
Lifecycle management is established throughout 1st and 2nd line with clear responsibility throughout the model development, validation, review, and production phases demonstrated though links to the models, processes, and policies.
Model issue and weaknesses management are captured as part of the model validation and review lifecycle so that you can manage ownership, track status, and document resolution.
Connected Risk® provides you with a single source of truth that provides infinite linkage capabilities, and in turn, increases data quality and knowledge sharing.
Connected Risk® utilises enhanced drag-and-drop and powerful data mapping capabilities for creating additional taxonomies and linkages into neighbouring risk areas.
The Model Risk Management module is highly configurable and can help your teams:
Tailor-made, just for your organisation
Tailor the solution to meet your organisation’s growing regulatory needs
Evolve with regulatory change
Ensure evolving regulatory needs and internal policy updates are incorporated into the organization’s model inventory management.
Provide evidence with integrated reporting
Provide evidence of the latest taxonomies and relationships with our integrated reporting capabilities.
Expand with our RESTful API
The Connected Risk® platform provides RESTful web service endpoints that allow bi-directional integration of your data.
Schedule a demo of Connected Risk®'s model risk management module and see how your organisation can advance with confidence
Start a free trial of
Connected Risk®
"*" indicates required fields
Not quite ready for a demo?
Download a copy of our Model Risk Management datasheet and see how our model risk solutions can work for your organisation.
Learn more about MRM from Our Blog
What Are the Loopholes in Basel III That Could Lead to an Instant Bank Liquidity Crisis?
Banks are constantly at risk of liquidity crises, which is why it’s essential that they have effective policies in place to protect against them. One
Model Risk Management in the Wake of a Bank Failure: Learning from Silicon Valley Bank
In 2023, Silicon Valley Bank, one of the biggest banks in the US, was forced to close its doors due to a core risky financial
An Introduction to Neural Networks and Their Uses
Neural networks are becoming increasingly important in risk management, as they provide the tools necessary to accurately predict outcomes of complex models. Neural networks are
Understanding The Monte Carlo Simulation
Monte Carlo Simulation (MCS) is a powerful risk modeling tool that has been used in financial services for decades. It’s a method of evaluating the
Share this page with your model risk practice
Expand and integrate your solution with
Operational Risk Management
Quickly identify, capture and manage multiple sources of risk across the enterprise.
Compliance Management
Aggregate and streamline compliance programmes and reveal an understanding of your risks.
Audit Management
Simplify the workflow and collaboration process of compiling audits.
"Powerful Platform For Compliance With Dynamic Regulatory Environment"
“The product is a powerful platform for regulated firms in the financial industry to comply with the ever-changing regulatory environment. The software helps my organization navigate rules and regulations, internal processes, and regulatory reporting requirements.”
Senior Associate, Finance Organisation with an annual return of $1-3BN USD
