OpenPages Model Risk Governance objects

This topic provides information about the IBM OpenPages® Model Risk Governance objects.

Change Request
The Change Request object is a child of the Model and Usage objects and allows for the creation and tracking of governance activities that are related to changes in Models and their deployments. The object captures data such as Change Type, Change Description and Status as well as allowing for the recording of the key Approval and governance steps in the change request lifecycle.
Committee
The Committee object is a child of the Business Entity and allows an organization to represent governance groups/committees. These can then be aligned to Models and can also be a parent of the Employee object. It can store information such as the Terms of Reference for a committee, frequency of meetings, and detail of the Chairperson.
Metric
The Metric object records the definition of a performance measurement that the organization chooses to track. A user sets the Metric Type, Yellow, and Red Thresholds and other collection information. A Metric is a child of Usage and Model objects.
Metric Value
The Metric Value object records the result of the metric performance measurement. It is designed to behave in a way to allow the organization to store time series results of measurement.
Model
The Model object provides representation of the Models within an organization. At a theoretical level a model as a quantitative method, system or approach that applies statistical, economic, financial or mathematical theories, techniques and assumptions to process input data into quantitative estimates. Within the Model object, key model information can be represented, including: Model Description, Model Ownership, Model Status, Development lifecycle dates, Model Type and Category, and Model Risk Assessment data. A Model object is a child of a Business Entity and parent of Usage objects.
Model Attestation
Model Attestation allows an organization to request a regular sign off or attestation of a Model. The MRG administrator periodically creates a set of blank Model Attestations, which are assigned to the respective Model Owners. Each Model Owner answers a set of questions about the Model and submits their Model Attestation.
Model Input
If an organization wants to adopt a more granular approach to model documentation, the Model Input object provides the ability to record the inputs. Fields include Input Owner, Type, Status, and Description. A Model Input object can also be the child of a Model Output object, which allows for the creation of Model chains at a detail level if the Model Link approach is not granular enough.
Model Link
If an organization wants to adopt a less granular approach to Model documentation, use Model Link, which is a broad-type association that does not provide explicit details of the feed from one model to another. It acts as a child of multiple models to allow for the generation of Model chains.
Model Output
If an organization wants to adopt a more granular approach to Model documentation, the Model Output object provides the ability to record the Outputs of the Model. The intended purpose is to record the Description and Overview of the Output from a governance point of view and not to record the Model Result.
Model Scorecard
Model risk assessments are performed during the development and documentation phase of a Model. They are also typically performed periodically after a Model is in production. The Model Scorecard object is used to conduct this risk assessment. The user answers a number of questions about the Model. Model Scorecard triggers calculate a risk score and determine the Model tier.
Register
The Register object is a child of Entity and a parent of the Model object. The usage of the Register object is optional. Its primary purpose is to act as a library of Models during development.
Review
The Review object is used to record the scheduling and outcomes of any Model Review activity. It is the child of both the Usage and Model objects. The object is intended to capture the outcomes of Reviews whether they are pre-implementation, post-implementation, and performed by second or third line of defense.
Usage
The Usage object is a child of Model. It is used as a key element of recording the deployment of one or more models.

Parent topic: OpenPages Model Risk Governance objects