Demonstrate strong model governance, reporting and compliance with the IBM OpenPages Model Risk Governance module, using an integrated and transparent approach.
Bring together all the key stakeholders who often work independently on siloed data. The OpenPages Model Risk Governance module combines a flexible data model with document management, powerful workflow capabilities, and business intelligence. It helps ensure a greater level of engagement and transparency in the model risk management and governance processes.
Helps organizations meet compliance requirements and reduce maintenance costs with a variety of model-focused regulations across regions and jurisdictions. Your organization can map policies, metrics and models to multiple regulatory requirements to support assessments across complementary regulations.
Centralize the models used by banks, insurance firms and other financial institutions to measure and manage financial risk. This enables your organization to maintain an enterprise-wide list of models and documents, as well as track issues associated with models. Assign appropriate roles for model ownership, and report on model inventory and issues.
Watson OpenScale aids enterprises to validate pre-production AI models and monitor production AI models to ensure they can be trusted to perform as intended. The built-in integration permits OpenPages users to automatically receive metrics and reports from Watson OpenScale, as well as store documentation of model validation test results from Watson OpenScale.
The dashboard delivers all of the information related to models, including a breakdown of use cases and models by status, change requests in process, challenges, issues and tasks assigned to the various stakeholders.
Monitor the effectiveness of models with metrics. Metric values are captured for each metric and a breach status is automatically calculated to indicate if the metric is red, yellow, or green.
The model manager is ready to approve the model review report performed by the model validator. If there were any issues, then the model can be sent back to the validator for further preparation.
Automate your GRC processes with ease
IBM OpenPages offers you the capability to deploy domain-targeted product modules to meet specific governance, risk, and compliance challenges. Choose the product modules you need within a single integrated environment.