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Model Risk Management

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VALUE PROPOSITION

  • A major Digital Transformation leap, utilising ELEMENT’s revolutionary schemaless Knowledge Graph technology to richly capture model attributes, scenarios and testing activities, plus seamless data source connectivity
  • Unparalleled implementation speed, taking only 10 weeks to pilot and several more weeks for each iterative step, due to ELEMENT’s whitebox transparency and effortless connectivity to data sources
  • Enhanced flexibility to adapt to changing regulatory requirements, catering for any risk model using any process and data flow
  • Lower Total Cost of Ownership, accomplished by shifting to OpEx via a low code cloud platform and decreasing labor-intensive tasks by embedding Composite AI technologies

Modernising risk modelling infrastructure and lifecycle management at a world-leading bank – demonstrating advanced AI modelling, IP asset cataloging and workflow, and enterprise-wide data integration and cross-functional use

 

BACKGROUND

Global bank faced multiple issues with its Model Risk Management (MRM) processes, resulting in poor data quality, inefficiency and limited reliability

Largely manual processes to audit and investigate model accuracy 

Models and related data spread across multiple, segregated systems 

Sub-optimal IP controls, which created operational risk 

Jeopardised ability to comply with risk-related regulations

TARGETS

  • Revamp the entire MRM lifecycle for risk planning, model development, monitoring and evaluation, improving model value and adaptability
  • Achieve greater control and utilisation of diverse data sources for greater functional effectiveness and regulatory compliance
  • Markedly reduce infrastructure and labour costs resulting from fragmented systems and processes

ADDRESSING THE NEED

  • Support for scenario planning and risk model development, applying multiple AI-based modelling methods
  • Comprehensive MRM lifecycle support includes full auditability, model playback, and adaptability to regulatory changes, plus collaborative cross-functional involvement
  • A global model inventory across all business lines, captured using ELEMENT’s revolutionary knowledge graph
  • Continuous monitoring of model use and efficiency with automated detection of threats to model integrity (changes to data and sources), using “SecureSwan” technology with custom integrated alerts

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Modernisation of a world-leading managed service provider offering third party risk management solutions, by automating workflows and increasing integration to reduce administrative burden [...]

About BlackSwan Technologies

BlackSwan Technologies is a SaaS Product company. Its Flagship product ELEMENT is a cognitive operating system that enables rapid development of Enterprise AI-Driven applications. ELEMENT is the foundation that can be used by enterprises across multiple industries to build robust AI applications, tools and workflows. With hundreds of pre-configured data fetchers, analytical functions, models and user interface components, element makes heavy use of knowledge graphs and a range of Machine Learning techniques to help companies improve outcomes and reduce costs.

BlackSwan ELEMENT is trusted by some of the largest, fastest, and most innovative companies in the world.