Model Infinity

The solution is fully compliant with industry standard on model risk management including guidance from OCC's MRM Comptroller's Handbook

The platform has been built by codifying industry best practices – following our work in MRM with 17 / 20 global banks

Adopting the solution is an easy-ticket to automatic ‘best-in-class’ MRM governance practices

The solution is cloud-ready and can be deployed in a hosted mode, or on-premise within the firm's ecosystem

CRISIL can take complete ownership of cloud and platform management, with its pay-as-you-use commercial model

The platform is built on CRISIL's powerful Fulkrum technology engine, which comes with an embedded ETL engine, which can be used for pre-processing and initial data load

The platform can be linked to bank's other model and model risk systems for ensuring high model data and operational integrity

The solution aims to conduct model-level communication between 1st line and 2nd line on the platform itself, reducing dependency on email and effective tracking

Users can post queries seeking clarification and approvals

Communication is logged and recorded at model level and key contacts of the model get email notification

The solution comes with pre-built model development and model validation workflows, which are flexible and highly customizable to adapt to the firm's model risk process, policies and practices

The platform has several smart features on workflows, including auto-routing, offline email approvals, auto-versioning, reminders and alerts

Validation findings can be auto-logged from the validation activity, tracked and monitored for implementation

A detailed audit trail is created for every activity on the platform – from model development to model validation. The generated audit trail can be exported to excel in a single click

The solution also has the ability to request additional reviews and attestation of models

Platform is capable of generating live and canned reports with an option to schedule reports and share output via mail

Users can create live “slice-and-dice” reports based on data schemas for data captured across the platform. Users can select fields and create active pivots and generate reports on-the-fly

The live report feature also presents options to save, download, schedule and email reports

Reporting and visualization uses latest web-tools from D3.Js and FusionCharts

Preset or canned reports also generate template-style reports with live MRM data

Users can host documents straight on the platform and it allows upload of any binary file type

Document hosting, document categorization and smart-indexing are some of the key features

The search feature not only searches by parsing the documents, but also indexes all meta-data including model information and communication logs

Users can also download an auto-filled template, containing all model meta-data information in a .docx file, which is a great starting point for both 1st line and 2nd line model documentation

The platform houses a live formula-builder to create and apply formulae for risk scoring and risk tiering models based on meta-data and workflow parameters

History of risk scores can be maintained and risk scores reviewed and updated frequently across several models

A post-validation survey also helps build a quality-score for the model, that can be integrated to produce an overall model score

Scheduled jobs can be run to automatically calculate risk score/tier for every model in an overnight batch