Thomson Reuters Enhances Model Risk Platform

Thomson Reuters has expanded its Connected Risk platform to include a Model Risk Management (MRM) solution, allowing institutions to demonstrate a real-time understanding of their model risk landscape, with the ability to report on the model’s governance status, sign-offs and related issues from a single platform source.
The firm says that financial modelling plays a critical role in several financial institution activities, including credit underwriting, risk management, capital adequacy and instrument valuation.
It adds that its MRM solution is designed to provide risk professionals with a holistic understanding of how each of these models in the business is derived, validated and applied.