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, analyze 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organizations can establish a consistent process for the entire model risk lifecycle, reducing financial impacts from outdated information and improving model health and visibility.
- 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
- Analyze model performance indicators
- Decommission models as needed
- 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- Reduce likelihood of outdated information in a model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
This offering requires the Business Unit application which is available in several use cases. In addition, the RSA Archer Issues Management use case is required.
The RSA Archer Key Indicator Management is optional. Please review the implementation guide for a full list of the applications, use cases, and pre-requisite dependencies that are required for this offering.
Supported Platform Version
RSA Archer Model Risk Management was developed for and validated on the RSA Archer Platform for Release 6.4.
RSA Archer On-Demand Application (ODA) Licenses
Three (3) RSA Archer On-Demand Application (ODA) licenses and one (1) questionnaire are required for RSA Archer Model Risk Management.
For More Information
To learn more about RSA Archer Model Risk Management:
- Watch a short demonstration video;
- Read the RSA Archer Model Risk Management app-pack implementation guide; and
- Download the RSA Archer Model Risk Management installation package.
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 or contact RSA Archer at firstname.lastname@example.org for more information.
RSA Archer Model Risk Management - Model Risk Owner Dashboard
RSA Archer Model Risk Management - Model Inventory