MODEL GOVERNANCE SUITE
The one tool you need to govern your risk model portfolio.
ENABLE HIGHLY QUALIFIED PEOPLE TO FOCUS
ON THEIR EXPERTISE DOMAIN
We provide you with a suite of software tools to govern the risk of a much higher number of models without increasing the team size.
Everything right at your fingertips
Thanks to the central model inventory, you can find out quickly which models are active, most important, closest to a deadline, or other criteria. You can have model attributes and data, development and validation data, workflows, documentation, and all communication related to a particular model in one place.
Stop data collection, start data interpretation
Make data access a commodity. Simplify data collection, storage, and analysis. Upload data just once, or go even further – don't upload them manually at all. Use the power of ETL processes instead.
Automation and monitoring
By automating various aspects of your model governance process, you can save significant costs and prevent errors caused by monkey work. Define your monitoring strategy to increase your confidence in your model quality. Connect to your existing systems through REST API.
Use Model Governance Suite from day one
Let us help you! We're not only software engineers, but we've also been in the risk management business for more than 10 years. Focus on your business and we will take care of your "workhorse". We set up MGS for you by our standard kick-off procedures.
COMPLIANCE WITH MODEL GOVERNANCE AND MRM REGULATIONS
Model Governance Suite enables to achieve full compliance with industry regulations like SR 11-7, PS 7/18, SS3/18, BCBS 350 or TRIM.
INVEST YOUR TIME WISELY TO MAKE YOUR MODELS BETTER
Manage a much higher number of models without increasing team size.
Your operational cockpit
Get instant insight into the current state of your entire model portfolio, crucial models, and deadlines. Display predefined dashboards on one click and get an overview of your portfolio.
User role management
Grant access to everybody involved by using and setting various roles. Open your model governance process and let anybody contribute. Get full control of your data security.
Decentralized / distributed
Access the application via a web browser. It is also optimized for mobile devices. Develop and govern a high number of models with the same number of experts.
Define your tiering methodology.
Scan your portfolio automatically and continuously reclassify the risk score of all your models.
Get the maximum from your team by focusing on the validation of the highest risk tier models.
Save time by composing documentation using predefined building blocks. Don't search hundreds of pages of model documentation to find out what has changed in new versions.
Increase transparency by tracking all changes and activities. Provide information to internal teams as well as for audit purposes. View and visualize the history of all an attribute's changes.
Formalized validation process
Be aware of the status of your model portfolio at any time. Remove any "fuzziness" and always know what step to do next. Connect tasks to your experts and have a constant overview. Delegate your experts directly and keep all the communication in one searchable place.
Analytical tools you know on your fingertips
Manage, analyze, and develop your models – all from one place. Get the power of R or Python on your side in one click without any need to struggle with data transfer.
Model source code management
Bring the GitHub style to your model development. Make your model validation more transparent by visualizing differences between model revisions.
Use Model Governance Suite from day one! We set it up for you through our standard kick-off procedures.
CONSULTING SERVICE IN MODEL RISK MANAGEMENT
Let us help you! We've been in the risk management business for more than 10 years. Based on our experience we know how to do things "smart" and how to get you where you want to be. Add new features and let us deliver a personalized solution perfectly fulfilling your requirements and gaining you a competitive advantage.
TAKE A SIMPLE STEP TO GET ORGANIZED AND READY
Build foundation elements or choose a comfortable variant in complete and unique solution for your model risk management.
Automation in model risk management
|Inventory of models and validations||✔||✔|
|Model lifecycle workflows||✔||✔|
|Integration into your systems||✔|
|Managed git repository||
|Initial setup done by our experts||✔||
For more information and package customization please contact our sales team.
The MGS is used by
Models used by financial institutions (FIs) are not defined only by their source code, datasets, and documentation, but also by the entire model lifecycle, which can typically be broken down into a set of workflows. Therefore, FIs often acquire workflow management systems, typically standalone, or the processes are "defined and maintained" in good old Excel sheets. While this might have seemed like a sufficient solution, there are much more advanced approaches, with an incomparably higher value for the business.
Model governance regulators are moving their focus closer and closer to the qualitative elements of a model – the model governance process. Unfortunately, the regulator also often asks the bank to explain their internal risk mitigation process without the providing the specific guidelines necessary to match the model to the bank’s methodology.
Model inventories start to become more complex when one starts contemplating and later implementing them. They very often become an elementary component for all later model governance/model risk management related efforts. Having a solid foundation is key to smooth sailing in the future.
I would like to discuss a problem with you that I see repeatedly encountered when performing complex, multifarious tasks such as bank stress tests: the lack of ability to concentrate on the "bigger picture" and the consequences this has on the analyst.
WHAT HAPPENS WHEN MODEL RISK MANAGEMENT GOES WRONG?
Reduce the risk connected with model risk management to prevent significant financial losses.
2012, $440 million loss
A "significant error" in the computer code for one of its investment models. [CNN, 2012]
2012, $6.2 billion loss
"The role of Model Risk in this scandal [...] is important in that at least part of the impetus to take huge positions was due to incorrect risk modeling." [McConnell, 2013]
2009, $217 Million loss
Undetected error in model source code.
[U.S. Securities and Exchange Commission, 2011]
LET'S SEE WHAT MGS CAN DO FOR YOU!
Please contact us directly, or fill in the form and we will contact you.