Model Risk Management | Model Governance - ClusterSeven

Model Risk Management

Our Clients

Manual Processes Not Enough For Model Governance

Traditional GRC or risk management systems lack flexibility. This leads many businesses to resort to manual controls, taking more time and effort for both users and management.

Manual model risk management controls can lack the full transparency required by regulators and auditors. Whilst businesses are challenged to streamline their processes, enhance compliance & reduce exposure to risks, enhancing model risk management systems can be time consuming and expensive. We can help.

CECL Reporting    SS3/18 Stress Testing    SR 11-7 Model Governance

Where We Help

Build A Central Inventory Of Models, Tools & Calculators

Identify, analyze and manage your models, tools and calculators in a centralized enterprise-wide model inventory.

Our platform is designed with a highly configurable view, comprehensive document storage and powerful data connection mapping functions. These allow organizations to quickly deploy a model risk management solution without the need for custom development.

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Document & Track Models Throughout The Model Lifecycle

Build an automated model risk management workflow and task management process utilizing our proactive monitoring and alerting capabilities.

Simply and quickly define attributes, workflows, reports, screen layouts, algorithms, risk checks, data flows and lineage. Capture the structure and complexity of your models, tools and calculators.

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Gain Confidence With Role-Based Security & Full Audit Trail

Achieve a complete audit trail of updates & interactions with your model risk management framework, allowing you to understand your model risk. Define roles and access to the platform giving you full role-based security management, delivering increased transparency with an enterprise-wide view.

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The Solution?

Enterprise-wide Model Risk Management

MRM helps users to understand models better in terms of their capabilities and limitations, and a greater understanding of predictive models allows them to be used more effectively. With model risk management, problems can be spotted at an earlier stage and inefficiencies can also be identified more easily, helping improve models over time.

Sophisticated risk management models not only satisfy regulations, but they also simplify and improve workflow. Advanced automated risk management models are more cost effective through decreased financial losses and time saved overall, as well as allowing for better judgements to be made through increased model transparency.

ClusterSeven provides a comprehensive, specialist, model risk management solution for organizations managing model risk, whether to manage the business, develop new products, or complying with regulations like SR11-7, SS3 18, TRIM or initiatives like the UK’s Operational Resilience. It enables model teams to create, maintain, validate an enterprise-wide model inventory to support supervisory guidance and business objectives, to set policy and documentation standards, and easily share auditable information.

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