Have you ever imagined leveraging the cutting edge technology to facilitate your model risk management process?
PwC can help your institution implement a holistic end-to-end MRM solution based on your existing GRC platform including Archer, MetricStream, ServiceNow, SAI Global, Riskonnect and others. Our MRM solutions provide significantly expanded capabilities when compared to the out-of-the-box capabilities of the GRC platforms. They cover all key workflows and processes typically needed as part of an MRM framework, and are supported by powerful and flexible model inventory and reporting systems. At a high level, the solution offers the following key capabilities:
House the organization’s model inventory and associated artifacts (e.g., model documentation, validation reports, ongoing monitoring reports).
Support model risk management processes and controls via flexible workflows covering the full model lifecycle.
Provide robust customizable reporting capabilities and notifications for various groups of stakeholders and committees.
Bring in flexible data model, role-specific functionalities and screens, and full auditability of changes to the information.
The following tabs provide more details on the key capabilities of the MRM Technology Solution along various phases of the model lifecycle
- Model identification / acquisition
- Model development & implementation
- Model validation
- Model approval
- Model use and ongoing monitoring
- Model maintenance and improvement
- Model risk reporting and management
Model identification / acquisition
Model vs. Non-model tool questionnaire & identification system
Flexible Model inventory capturing key model meta data with ability to capture multiple business uses
Model inventory system capable of supporting search for model by attributes
Auto assignment of unique IDs for Model or Non-Model / EUC
Role-based level of access control for models and validations
Comprehensive audit trail for all information changes and actions
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