The use of models invariably presents model risk, which is the potential for adverse consequences from decisions based on incorrect or misused model outputs and reports. Model Risk Management must be done by any lending business to mitigate financial loss, poor business and strategic decision making, or damage to a bank's reputation.
MATRiX provides solutions in all aspects of the MRM stated by the guidelines in SR 11-7.
MATRiX provides solutions in all aspects of the MRM stated by the guidelines in SR 11-7.
- Robust model development, implementation and use
- Sound and independent model validation process
- Effective Governance framework with defined roles and responsibilities for clear communication of model limitations and assumptions, as well as the authority to restrict model usage
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Advanced Model Monitoring and Tracking
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Performance Statistics
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Inventory Management
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Validation workflow for Existing Models
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Workflow for New Model Development with Validation
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