Archer Model Risk Management App-Pack

[SusanReadMiller]

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 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. Archer Model Risk Management helps the organization document and manage findings, analyze performance, and decommission models as needed.

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organizations can establish a consistent process for the entire model risk lifecycle, reducing financial impacts from outdated information and improving model health and visibility.

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• Reduce likelihood of outdated information in a model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

Key Features

Archer Model Risk Management enables organizations to:

• Document model inventory and model documentation
• Track changes to models and model inventory 
• Track model validation and approvals
• Formally certify a complete, up-to-date model inventory
• Document validation findings
• Analyze model performance indicators
• Decommission models as needed

Solution and Platform Information

• Solution Area: Archer Regulatory Corporate & Compliance Management
• Prerequisite Use Cases:  This offering requires Business Asset Catalog or IT Asset Catalog.
• Supported Platform Version: Archer Platform Release 6.10
• Supported Archer Environments:
  • On-Premises
  • Archer Hosted
  • Archer SaaS

Archer On-Demand Application (ODA) Licenses

One (1) to Three (3) Archer On-Demand Application (ODA) licenses are required for Archer Model Risk Management depending on use case implementation.  Review the implementation guide for optional ODAs.

For More Information

To learn more about Archer Model Risk Management App-Pack:

• Watch a short video;
• Read the implementation guide; and
• Download the installation package.

The Archer Model Risk Management App-Pack is an offering provided through the Archer Exchange to help you manage your Archer use cases. To learn more about the Archer Exchange, please visit the Archer Exchange on the Archer Community.

For Additional Support

To learn more about this offering, please contact your Account Rep for additional details. For technical support questions regarding this offering, please open a support case.

Archer Model Risk Management

Model Owner Dashboard

Archer Model Risk Management

Model Risk Program Manager Dashboard