By using IBM OpenPages, iTechGRC brings together all the key stakeholders who typically work independently on isolated data. OpenPages Model Risk Governance offers a versatile data model, document management, robust workflow capabilities, and business intelligence, which when combined, ensures increased engagement and transparency in the model risk management and governance processes.
Enables organizations to comply with diverse model-focused regulations across regions and jurisdictions, while minimizing maintenance costs. Organizations can align policies, metrics, and models with multiple regulatory requirements, facilitating assessments across complementary regulations.
Centralizes the models used by banks, insurance firms and other financial institutions to measure and manage financial risk. This allows organizations 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 Studio 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 Studio, as well as store documentation of model validation test results from Watson Studio.
Helps managers proactively and efficiently assign tasks to mitigate model risk
Supports model risk regulatory compliance by creating and maintaining a comprehensive model inventory
Helps track issues and metrics associated with models and provides dynamic dashboards for reporting on model inventory management
Assigns applicable roles and responsibilities for model ownership with the capability to identify model owners
Banks and financial institutions confront serious risks on a daily basis, with many of these threats being unavoidable due to…
Financial services companies routinely confront a variety of risk factors, threats, and vulnerabilities as part of their risk management and…