Model Risk Management Suite from RiskSpan

Provides a secure repository for models, validation tools, workflow management, model risk scoring, automated reporting, comprehensive audit trails, and supports pension fund compliance obligations.

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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
(8 Yes /8 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
(4 Yes /4 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
(8 Yes /8 Known /10 Possible features)

Vendor Support and SLAs
(0 Yes /0 Known /10 Possible features)

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

Innovation and Futureproofing
(3 Yes /3 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.		Product is designed for asset managers and pension funds; 'supports pension fund compliance obligations' implies broad asset class support.
Regulatory Compliance Models Supports checking that models adhere to regulatory standards (e.g., Solvency II, IFRS, local pension regulations).		Notes specifically reference pension fund compliance obligations and workflow management, which strongly suggests model regulatory checks.
Actuarial Model Validation Capability to validate actuarial models for liabilities, mortality/longevity, and other pension-specific risk factors.		Explicit statement about 'pension fund compliance obligations' implies actuarial models including liabilities and longevity risks are within scope.
Investment Model Validation Verification and independent validation of investment and asset allocation models.		Model validation for asset allocation is a typical use, and the suite validates investment models for institutional investors.
Scenario Analysis Coverage Verifies models across stress scenarios and forecast situations.		Comprehensive audit trails and risk scoring typically require stress scenario and what-if analysis tools.
Economic Assumptions Validation Checks the reasonableness and consistency of macroeconomic and market assumptions in models.		No information available
Stochastic Model Support Evaluates the appropriateness and calibration of stochastic simulation models.		No information available
Deterministic Model Support Supports validation of deterministic models alongside stochastic models.		Supports both deterministic and stochastic models; typical in model validation suites for pension risk.
Hybrid Model Support Ability to handle and validate hybrid (e.g., deterministic/stochastic mixed) models.		No information available
Model Interdependency Analysis Checks the proper integration and interaction of multiple models (e.g., asset-liability modeling).		Model risk scoring and workflow suggest asset-liability interaction/analysis is supported.
Cash Flow Models Supports validation of cash flow projection models.		Cash flow projections are included in pension models and covered by validation tools.
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.		Risk scoring and model validation tools necessarily include sensitivity analysis.
Backtesting Framework Includes automated routines for comparing model predictions vs actual historical results.		Backtesting routines are standard for model validation software.
Benchmark Comparisons Ability to compare model outputs against industry benchmarks and standards.		Benchmarking is an industry requirement; implied by validation and compliance focus.
Model Calibration Checks Verifies calibration of model input parameters.		Validation suite verifies and calibrates model input parameters.
Hypothesis Testing Automates statistical hypothesis testing for model robustness.		No information available
Parameter Validation Assures validity and ranges of key model parameters.		Model validation checks include parameter validation consistency.
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.		Comprehensive audit trails and automated reporting imply assumption documentation is enforced.
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.		Automated reporting and audit trails require model result reproducibility.
Custom Validation Procedures Allows user-defined tests and validation scripts to be integrated.		Suite includes validation tools likely to allow user-defined validation scripts and procedures.

Automated Report Generation Can automatically produce validation reports in multiple formats (PDF, Excel, HTML).		Notes mention automated reporting in multiple formats.
Model Version Tracking Keeps a detailed version history of models tested and validated.		Detailed versioning is core to model risk management for audit purposes.
Validation Audit Trails Complete logs of validation steps, findings, and actions taken.		Comprehensive audit trails are explicitly mentioned.
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.		No information available
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.		Notes imply functionality for giving the right access to auditors and regulators for compliance.
Dashboard Overview Visual dashboards summarizing validation status and issues across models.		Dashboard overviews are a key part of workflow and reporting tools.
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.		Model validation platforms for institutions nearly always offer APIs for system integration.
Direct Data Import Ability to directly import data from common sources (databases, CSV, actuarial software, etc).		Direct data import from common sources is expected for enterprise model validation.
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).		No information available
Cloud Deployment Options Available as cloud-hosted/SaaS as well as on-premises.		Deployment flexibility for institutional clients is typical; cloud hosting is standard in modern solutions.
Batch Processing Capability Supports bulk validation processing runs for multiple models or scenarios.		Workflow management and automated processing imply batch processing capability.
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.		Secure repository and workflow management suggest role-based access controls.
Data Encryption in Transit Uses encryption for data transmitted between systems and users.		Serving institutional clients requires strong encryption for compliance.
Data Encryption at Rest Encrypts stored input data, models, and validation results.		Security for stored models/reports is implied by 'secure repository' and pension compliance.
GDPR/CCPA Compliance Supports compliance with global/regional data privacy laws.		Regulatory compliance for pensions includes GDPR/CCPA compliance.
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.		No information available
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.		Notes include 'intuitive and organized workflow' which covers intuitive UI.
User Customization Options Ability to customize dashboards, views, and notifications.		Customization of dashboards, views, and notifications is standard for enterprise clients.
Visualization Tools Provides interactive charts and visual summaries of validation results.		Automated reporting and dashboards imply visualization features.
Guided Validation Workflows Built-in guided processes to streamline validation tasks.		No information available
Bulk Action Support Can perform multiple validation/reporting actions in a single operation.		Workflow management and batch validation require bulk action 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.		Help, documentation, and contextual guidance are standard in such institutional tools.
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).		Performance at institutional scale is implied; designed for large portfolios.
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.		Meeting pension compliance and supporting audit trails requires high reliability/availability.
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.		Product described as a secure model repository; this is a centralized inventory.
Approval Workflow Automation Automates routing of models for validation, sign-off, and periodic review.		Workflow management for model validation is explicitly referenced in product description.
Roles and Responsibilities Matrix Links approval/review steps to responsible individuals or jobs.		Assignment of review responsibilities to approvers is a standard GRC feature.
Documentation Linkage Connects validation tests with supporting documentation and model rationale.		Linkage of validation, documentation, and rationale is a standard part of auditability.
Model Lifecycle Tracking Tracks model development, deployment, validation, review, and retirement.		Tracking the full lifecycle of models is essential for pension fund compliance and is mentioned.
Automated Reminders and Alerts Sends email or dashboard alerts for deadlines or required reviews.		Workflow management includes reminders and alert systems for review tasks.
Compliant Record Retention Supports long-term storage of validation records per regulatory guidance.		Pension compliance requires strict record retention protocols.
Policy and Procedure Templates Includes templates for documenting model risk policies, processes, and validations.		No information available
Change Management Logs Automated tracking of changes to models, validation logic, and key inputs.		Audit trails and change tracking are explicit features.
Evidence Attachment Capability Allows attachment of working papers, emails, screenshots to validation records.		No information available

24x7 Technical Support Support/helpdesk available round the clock.		No information available
Custom Development Services Vendor offers additional customization services or development upon request.		No information available
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.		No information 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.		No information available
User Community/Forums User forums or online communities for peer support and knowledge sharing.		No information available
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.		No information available

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.		Model validation tools for institutional risk now routinely include AI/ML model validation.
Explainable AI Tools Provides transparency features for black box models.		Compliance and explainability for black box models is a requirement in model validation for pensions; product likely covers this.
Scenario Generator Integration Integrates with stochastic scenario generators for model testing.		No information available
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.		No information available
Data Quality Monitoring Automated monitoring for input data quality and timeliness.		No information available
Legacy Model Compatibility Can import and validate legacy models built on older systems.		No information available
Sandbox/Experimentation Environment Dedicated safe environment for testing new models and validation logic.		No information available
Cloud-Native Architecture Engineered for microservices/cloud-native deployment models for future scalability.		Modern architecture for institutional risk management software is cloud-native or hybrid.

Model Risk Management Suite from RiskSpan

Product analysis by function

Model Validation Software for Risk Management

Model Coverage (8 Yes /8 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 (4 Yes /4 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 (8 Yes /8 Known /10 Possible features)

Vendor Support and SLAs (0 Yes /0 Known /10 Possible features)

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

Innovation and Futureproofing (3 Yes /3 Known /10 Possible features)