Prometeia Model Risk Management

Models are strategic elements in decision-making and regulatory compliance processes, and the management of their life cycle has many elements of complexity. Regulatory principles are increasingly pushing for the development of a Model Management framework to minimize model risk and reduce capital add-ons and margins of conservativism.

Prometeia Model Risk Management (MRM) is a comprehensive framework where all the steps in the model’s lifecycle are properly defined, allocated to specific owners, monitored, documented, and traced for future regulatory checks. The Prometeia solution has been designed to streamline the Model Management cycle, implement robust controls and ensure governance consistent with regulatory principles.

Key Features:

• Part of a more comprehensive and scalable platform for model development / implementation/ validation
  
• Zero code approach for easy change management
• Immediate view of model status to prioritize the evolution/ remedy actions
• Model risk evaluation embedded in the solution: tiering, model management index, scorecards
  
• Specific functionalities designed to cover AI models in particular for their internal validation