FI Consulting Announces Release of Model Risk Manager
Model Risk Manager Allows for Full Lifecycle Model Risk Management with the Flexibility to Meet Financial Institution’s Needs.
ARLINGTON, VA – August 16, 2016 – FI Consulting is pleased to announce its new Model Risk Manager solution to help financial organizations manage their model portfolio and associated model risk. Powered by Microsoft’s Dynamics platform, Model Risk Manager is a powerful, highly adaptable software product to provide end-to-end model risk management lifecycle support.
“We perceived a real market need for a new generation of model risk management systems and our customer validations confirmed this,” said Robert Silverman, Managing Director responsible for FI Consulting’s solution initiatives. “Our approach was to develop the product using agile principles and leveraging direct, iterative feedback from bank executives with real life experience facing the daily challenges of implementing model risk management. In effect, we let customers help us design the product they need, to solve the problems that are most important to them.”
Financial institutions rely on a wide range of models to guide business decisions, to support financial and regulatory reporting, and to manage risk. Increased governance requirements and closer scrutiny of risk exposure have pushed these institutions to seek greater visibility into their modeling assets risk—and to demonstrate that they are making highly controlled, informed decisions throughout the entire model development, validation, and deployment cycle. Ever evolving requirements have created a need for model risk management systems that can make this process more efficient and can adapt quickly to evolving requirements.
“Throughout our customer validation process, we heard model risk practitioners express a desire for a system that could be deployed more easily, in less time, and that was easier to modify. They were looking for a solution that could support model risk management out of the gate while also providing a flexible, configurable foundation that can adapt as requirements change and as the organization evolves its practices. Today, we are pleased to release our Model Risk Manager solution to satisfy those needs,” said Roman Iwachiw, CEO at FI Consulting.
About FI Consulting
FI Consulting specializes in helping commercial and government sector financial institutions leverage data, analytics, modeling, and technology and stay at the forefront of a changing industry. With experience serving federal regulators, federal credit agencies, GSEs, and private sector financial institutions, we offer our clients a unique perspective that brings leading practices from across the financial services landscape. Learn more at www.ficonsulting.com and join the conversation @FI_Consulting.