Financial services and insurance organizations use mathematical models to inform business decisions and estimate risk. Because these models can have a material impact on an organization's business strategies and financial statements, it is imperative that the models are accurate at all times.

The RSA Archer Model Risk Management app-pack provides an automated governance process to document and manage changes to the organization’s model and model inventory. This app-pack captures model inventory and model documentation; tracks changes, validations, and approvals; and formally certifies model completeness. RSA Archer Model Risk Management helps the organization document and manage findings, analyse performance, and decommission models as needed.

With RSA Archer, organizations can establish a consistent process for the entire model risk lifecycle, reducing financial impacts from outdated information and improving model health and visibility.

Key Features

• Document the organization’s model inventory and model documentation
• Track model and model inventory changes
• Track model validation and approvals
• Formally certify that the model inventory is complete and up to date
• Document validation findings
• Analyse model performance indicators
• Decommission models as needed

Benefits

• Consistent and repeatable process for documenting, validating, and managing changes to models
• Reduce unauthorized changes to the model
• Reduce likelihood of outdated information in a model
• Reduce financial penalties, financial losses, or unforeseen risks due to model inaccuracies or insufficient testing
• Improve visibility into the health and status of the model inventory