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QRM Model Risk Management from QRM (Quantitative Risk Management)

Offers end-to-end model inventory management, validation, performance monitoring, scenario analysis, documentation, controls, and workflow for all model types, with a focus on compliance with industry regulations and pension fund requirements.

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More about QRM (Quantitative Risk Management)

Product analysis by function

Model Validation Software for Risk Management

Tools that independently verify and validate the mathematical and financial models used in pension fund management, ensuring accuracy and appropriate use of actuarial and investment models.
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Model Coverage
(11 Yes /11 Known /12 Possible features)

Accuracy and Validation Processes
(8 Yes /8 Known /11 Possible features)

Auditability and Reporting
(5 Yes /5 Known /11 Possible features)

Integration and Compatibility
(5 Yes /5 Known /10 Possible features)

Security and Data Privacy
(4 Yes /4 Known /10 Possible features)

Usability and User Experience
(5 Yes /5 Known /10 Possible features)

Performance and Scalability
(2 Yes /2 Known /10 Possible features)

Governance and Documentation
(10 Yes /10 Known /10 Possible features)

Vendor Support and SLAs
(6 Yes /6 Known /10 Possible features)

Cost and Licensing Flexibility
(0 Yes /0 Known /10 Possible features)

Innovation and Futureproofing
(8 Yes /8 Known /10 Possible features)

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Asset Class Support Ability to validate models for a wide variety of asset classes including equities, fixed income, real estate, private equity, infrastructure, and alternatives.		Marketing materials and solutions overview indicate broad asset class support (equities, fixed income, real estate, etc.)
Regulatory Compliance Models Supports checking that models adhere to regulatory standards (e.g., Solvency II, IFRS, local pension regulations).		Vendor emphasizes compliance focus and support for Solvency II, IFRS, and pension requirements.
Actuarial Model Validation Capability to validate actuarial models for liabilities, mortality/longevity, and other pension-specific risk factors.		Actuarial and risk models (liabilities, longevity) specifically called out in pension fund context.
Investment Model Validation Verification and independent validation of investment and asset allocation models.		Investment model validation is listed as a core use case.
Scenario Analysis Coverage Verifies models across stress scenarios and forecast situations.		Scenario analysis and stress testing are key dashboard/workflow components.
Economic Assumptions Validation Checks the reasonableness and consistency of macroeconomic and market assumptions in models.		Product validates macroeconomic and market assumptions as a control step.
Stochastic Model Support Evaluates the appropriateness and calibration of stochastic simulation models.		Stochastic simulation models are included among supported model types.
Deterministic Model Support Supports validation of deterministic models alongside stochastic models.		Deterministic and stochastic models are both supported per product literature.
Hybrid Model Support Ability to handle and validate hybrid (e.g., deterministic/stochastic mixed) models.		Hybrid models (mixed deterministic/stochastic) are part of the supported framework.
Model Interdependency Analysis Checks the proper integration and interaction of multiple models (e.g., asset-liability modeling).		Asset-liability modeling and model interdependencies are highlighted in documentation and workflows.
Cash Flow Models Supports validation of cash flow projection models.		Cash flow projection validation is a supported model type.
Statistical Model Types Supported Number of statistical models (e.g., regression, time series, machine learning) the system can validate.		No information available

Sensitivity Analysis Tools Software provides functionality to test model output sensitivity to input changes.		Sensitivity and scenario/distribution testing tools referenced as part of analysis suite.
Backtesting Framework Includes automated routines for comparing model predictions vs actual historical results.		Backtesting is part of the validation control processes.
Benchmark Comparisons Ability to compare model outputs against industry benchmarks and standards.		Solution supports use of benchmarks and industry standards for comparative analysis.
Model Calibration Checks Verifies calibration of model input parameters.		Calibration checks are included as standard validation protocols.
Hypothesis Testing Automates statistical hypothesis testing for model robustness.		No information available
Parameter Validation Assures validity and ranges of key model parameters.		Parameter validation is explicitly referenced as a safeguard.
Error Detection Rate Number/percentage of material model logic, coding or data errors detected by the tool.		No information available
Assumption Documentation Ensures all model assumptions are documented and validated.		Assumptions documentation/validation process is a standard function.
Validation Frequency How often models can be automatically or manually re-validated.		No information available
Replication Capability Ability to independently reproduce model results using input data and model code.		Model outputs are independently reproducible as per controls design.
Custom Validation Procedures Allows user-defined tests and validation scripts to be integrated.		Platform allows custom scripting and bespoke procedures.

Automated Report Generation Can automatically produce validation reports in multiple formats (PDF, Excel, HTML).		Automated reporting (PDF, Excel, etc.) is a standard feature.
Model Version Tracking Keeps a detailed version history of models tested and validated.		Version control/tracking for every model is included as an audit feature.
Validation Audit Trails Complete logs of validation steps, findings, and actions taken.		System keeps audit trails and validation step logs.
Export to Regulator Formats Exports results and reports in formats acceptable to regulators.		No information available
Automated Exception Tracking Logs and alerts where models fail validation criteria.		Exception tracking and alerting are core controls features.
Customizable Report Templates Enables users to define and reuse custom report layouts.		No information available
Stakeholder Access Control Granular permissions to allow auditors and regulators selective report access.		Role- and stakeholder-based access control documented.
Dashboard Overview Visual dashboards summarizing validation status and issues across models.		No information available
Data Lineage Capture Records where and how input data was sourced and transformed.		No information available
Findings Severity Rating Ability to classify and rate severity/impact of validation findings.		No information available
Change Log Frequency Tracks frequency of model changes between validation cycles.		No information available

API Integration Provides APIs for integrating validation tools with model risk management systems, data warehouses, and reporting tools.		Integration capabilities including API for data/reporting systems described.
Direct Data Import Ability to directly import data from common sources (databases, CSV, actuarial software, etc).		System allows direct data import from standard sources.
Supported Input Formats Number of natively supported input file/data types.		No information available
Open Model Interface Accepts externally coded models (e.g., Python, R, SAS, Excel/VBA).		Open interfaces accept externally coded models (Python, R, Excel, etc.).
Cloud Deployment Options Available as cloud-hosted/SaaS as well as on-premises.		Available as SaaS/cloud and on-premise per vendor deployment options.
Batch Processing Capability Supports bulk validation processing runs for multiple models or scenarios.		Batch processes for validating multiple models are referenced.
Single Sign-On (SSO) Support Integrates with enterprise SSO/LDAP for user authentication.		No information available
Plug-in Architecture Allows user extensions or connectors for bespoke data/model integration.		No information available
Real-Time Data Sync Can receive and process real-time data updates from external sources.		No information available
Compatibility with Risk Engines Integrates with major risk analytics platforms (e.g., BlackRock Aladdin, MSCI Barra).		No information available

Role-Based Access Control Granular control over who can view/modify/validate models and access reports.		Role-based and granular access controls available, as referenced under controls/workflow.
Data Encryption in Transit Uses encryption for data transmitted between systems and users.		Industry standard; referenced as part of security controls.
Data Encryption at Rest Encrypts stored input data, models, and validation results.		Data at rest encryption is mentioned in security policies.
GDPR/CCPA Compliance Supports compliance with global/regional data privacy laws.		No information available
Audit Log Tamper Detection Detects and alerts any unauthorized modifications to audit logs.		No information available
User Activity Monitoring Monitors and reports on all user login and activity events.		No information available
Secure Data Erasure Provides secure deletion of sensitive data after use.		Secure deletion of sensitive records is referenced in compliance documentation.
Time-Limited Access Tokens Allows issuing temporary credentials for third-party integrations.		No information available
Multi-Factor Authentication Enforces multi-step verification for sensitive operations.		No information available
Incident Response Procedures Documented and automated workflows for data breaches or security incidents.		No information available

Intuitive User Interface Clear and organized navigation with contextual help.		UI guided with process support, navigation and documentation referenced.
User Customization Options Ability to customize dashboards, views, and notifications.		No information available
Visualization Tools Provides interactive charts and visual summaries of validation results.		Visual dashboards and reporting of validation results included.
Guided Validation Workflows Built-in guided processes to streamline validation tasks.		Workflow guidance is referenced as a key usability attribute.
Bulk Action Support Can perform multiple validation/reporting actions in a single operation.		Bulk validation and reporting actions possible (batch support).
Accessibility Compliance Meets key accessibility standards for differently abled users.		No information available
Mobile Access Available interface optimized for mobile/tablet.		No information available
Multi-Language Support Interface and documentation available in multiple languages.		No information available
Help and Documentation Integration Contextual help, FAQ, and tutorials embedded in the UI.		In-product help and workflow documentation referenced.
Training Mode Provides guided training environments for new users.		No information available

Concurrent Model Validations Number of models that can be validated simultaneously.		No information available
Validation Throughput Number of full validation runs completed per hour.		No information available
Response Time Average time for interactive model validation tasks.		No information available
Scalability to Large Data Sets Software performance with growing model and data sizes (e.g., stress-tested at +TB scale).		Explicit reference to handling of large, institutional model/data environments.
Cluster/Distributed Computing Support Ability to distribute validation workload across multiple nodes or clouds.		No information available
Parallel Processing Capability Runs multiple validation steps in parallel for speedup.		No information available
High Availability Supports automated failover and uptime above industry standard.		High business continuity and system resilience (high availability) described.
Resource Elasticity Dynamically allocates compute resources for peak demand.		No information available
Maximum Model Size Supported Handles large model files or systems up to specified limit.		No information available
Concurrent User Sessions Max number of simultaneous active users supported.		No information available

Model Inventory Management Maintains centralized register of all models in use or review.		Centralized model inventory is a core claim of the QRM offering.
Approval Workflow Automation Automates routing of models for validation, sign-off, and periodic review.		Automated workflow for model review and sign-off referenced.
Roles and Responsibilities Matrix Links approval/review steps to responsible individuals or jobs.		Role responsibility mapping and audit trails are standard in workflow documentation.
Documentation Linkage Connects validation tests with supporting documentation and model rationale.		Validation, documentation, and evidence are tightly linked by design.
Model Lifecycle Tracking Tracks model development, deployment, validation, review, and retirement.		Model lifecycle management referenced as a distinct solution category.
Automated Reminders and Alerts Sends email or dashboard alerts for deadlines or required reviews.		Automated reminders and dashboard alerts included as notification functions.
Compliant Record Retention Supports long-term storage of validation records per regulatory guidance.		Compliant record retention featured in audit and regulatory compliance documentation.
Policy and Procedure Templates Includes templates for documenting model risk policies, processes, and validations.		Policy/procedure templates and documentation referenced as standard market support.
Change Management Logs Automated tracking of changes to models, validation logic, and key inputs.		Change logs and audit logs maintained as part of governance and workflow.
Evidence Attachment Capability Allows attachment of working papers, emails, screenshots to validation records.		System supports attachment of evidence to validation records.

24x7 Technical Support Support/helpdesk available round the clock.		24x7 support referenced as available for enterprise clients.
Custom Development Services Vendor offers additional customization services or development upon request.		Vendor offers custom service development on request.
Service Uptime Commitment Guaranteed system uptime per year.		No information available
Patch and Upgrade Frequency Number of software upgrades or patches released per year.		No information available
Onboarding and Training Programs Vendor provides comprehensive onboarding, training and certification programs.		Onboarding, training, and certification documentation available.
Issue Resolution Time SLA Maximum guaranteed time to resolve high-severity issues.		No information available
Named Account Manager Dedicated account manager provided for ongoing support.		Named account managers referenced for ongoing support in enterprise contracts.
User Community/Forums User forums or online communities for peer support and knowledge sharing.		User communities/forums referenced for customer and peer support.
Multi-Region Support Centers Vendor has geographically distributed support/resources for local compliance.		No information available
API/Integration Support Services Vendor will assist with systems integration and bespoke API connections.		Bespoke API integration and support are listed as vendor services.

Transparent Pricing Clear, published pricing and billing with no hidden charges.		No information available
Modular Licensing License individual modules/features as needed.		No information available
Pay-as-You-Go Option Supports usage-based billing for smaller or irregular workloads.		No information available
Concurrent User Licenses Number of users who can access the system at once under license.		No information available
Enterprise Discounting Volume or enterprise-wide discounts available.		No information available
Contract Length Flexibility Can select short-term, annual, or multiyear contracts.		No information available
Free Trial Availability Availability of a software trial or pilot period before purchase.		No information available
Customization Cost Transparency Clear cost breakdowns for extra integrations/customization.		No information available
Upgrade/Maintenance Included Upgrades and regular maintenance costs included in license fee.		No information available
Nonprofit/Government Pricing Special pricing available for nonprofit or public-sector pension funds.		No information available

AI/ML Model Validation Validates machine learning/AI-driven models, including explainability/robustness checks.		Machine learning/AI model validation and explainability referenced among advanced functions.
Explainable AI Tools Provides transparency features for black box models.		Explainability tools included for AI/ML models.
Scenario Generator Integration Integrates with stochastic scenario generators for model testing.		QRM integrates with stochastic scenario generators.
Open Standards Support Supports open-source data/model standards (e.g., ONNX, Predictive Model Markup Language).		No information available
Continuous Integration (CI) Support Provides APIs/tools for CI pipelines and automated model risk management.		No information available
Support for Regulatory Change Management Includes workflows and alerting for evolving regulatory standards.		Platform supports alerts and workflows for regulatory change as cited in compliance features.
Data Quality Monitoring Automated monitoring for input data quality and timeliness.		Automated data quality/timeliness monitoring included in data controls.
Legacy Model Compatibility Can import and validate legacy models built on older systems.		Legacy model/data import supported for institutional client base.
Sandbox/Experimentation Environment Dedicated safe environment for testing new models and validation logic.		Sandbox environment referenced for model and validation testing.
Cloud-Native Architecture Engineered for microservices/cloud-native deployment models for future scalability.		Cloud-native/microservices referenced for SaaS deployment scalability.

QRM Model Risk Management from QRM (Quantitative Risk Management)

Product analysis by function

Model Validation Software for Risk Management

Model Coverage (11 Yes /11 Known /12 Possible features)

Accuracy and Validation Processes (8 Yes /8 Known /11 Possible features)

Auditability and Reporting (5 Yes /5 Known /11 Possible features)

Integration and Compatibility (5 Yes /5 Known /10 Possible features)

Security and Data Privacy (4 Yes /4 Known /10 Possible features)

Usability and User Experience (5 Yes /5 Known /10 Possible features)

Performance and Scalability (2 Yes /2 Known /10 Possible features)

Governance and Documentation (10 Yes /10 Known /10 Possible features)

Vendor Support and SLAs (6 Yes /6 Known /10 Possible features)

Cost and Licensing Flexibility (0 Yes /0 Known /10 Possible features)

Innovation and Futureproofing (8 Yes /8 Known /10 Possible features)