CRISIL Ltd, an S&P Global company, has won the prestigious RiskTech100® Award for 2023 in the Model Validation category.

The award, instituted by Chartis, is globally acknowledged as the most comprehensive and independent study of the major providers of risk and compliance technologies. It ranks the top 100 risk technology providers and identifies the best ones in specific risk and compliance categories.

CRISIL’s Model Validation Group is part of its Global Research & Risk Solutions practice that provides end-to-end services ranging from model development, enhancement, documentation, validation and governance.

Risk services that leverage global expertise have gained significant traction with model-risk regulations maturing and new challenges emerging.

CRISIL’s deep capabilities in model validation span all types of risks — credit, market and newer areas such as climate — and also Machine Learning-based solutions.

Banks and financial institutions are increasingly relying on CRISIL’s capabilities to introduce automation, reduce turnaround time, and streamline effort and spend for the model validation function.

“This year, the model validation award for CRISIL (an S&P Global Company) reflects the company’s standout Model Validation Group,” said Sid Dash, Research Director at Chartis. ‘The firm boasts possibly the broadest coverage in this area, as well as a deep bench of skilled quantitative analysts.”

Says Anshuman Prasad, CRISIL’s London-based Global Head of Risk Analytics, “We are delighted at being recognised as the winner and this reinforces our position as the largest and most innovative global player in model validation.”

CRISIL’s cutting-edge platforms such as Model Infinity and SEM use technology to introduce automation and create standardisation in risk processes.

Model Infinity helps financial institutions manage their model inventory by automating the first- and second-line touchpoints and streamlining the entire model lifecycle.

Scenario Expansion Manager (SEM) is a pioneering solution supporting banks in their stress testing and scenario analysis needs.

For more details on CRISIL’s model validation services, please visit:
https://www.crisil.com/en/home/our-businesses/global-research-and-risk-solutions/our-offerings/model-risk/model-risk-management.html.