Manual processes aren’t enough for model governance

Our powerful Model Risk Management (MRM) capabilities allow financial institutions to carry out MRM initiatives quickly, efficiently, and effectively.

Institutions need a flexible, dynamic, and effective MRM solution that can evolve in step with their requirements and business. Uniquely, ClusterSeven MRM covers a range of model environments and the tools and calculators that feed them, providing a powerful, flexible, cost-effective MRM for any institution.

What is model risk? It’s the risk of loss resulting from using insufficiently accurate models to make decisions.  This was recognized early on as a concern in financial services, but as more businesses have turned to models, it’s become even more important to manage them so they’re accurate and reliable.

Lighten the pressures and cut your costs

Model applications are typically managed manually, putting modeling teams under pressure to verify accuracy and manage change documentation, generate reports and provide the transparency and enhanced service that management and regulators increasingly demand.  All with limited time and budget.

By automating modern governance, ClusterSeven MRM helps mitigate risk and support compliance at an entirely new level, while delivering efficiency and precision no manual process can even approach.

Build a central inventory of models, tools & calculators

Identify, analyze and manage your models, tools, and calculators in a centralized enterprise-wide model inventory.

Our platform is designed with a highly configurable view, comprehensive document storage, and powerful data connection mapping functions. These allow you quickly deploy a model risk management solution without the need for custom development.

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Document & track models throughout their lifecycle

Build an automated model risk management workflow and task management process utilizing our proactive monitoring and alerting capabilities.

Simply and quickly define attributes, workflows, reports, screen layouts, algorithms, risk checks, data flows and lineage. Capture the structure and complexity of your models, tools and calculators.

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Gain confidence with role-based security & full audit trails

Get a complete audit trail of updates and interactions with your model risk management framework, allowing you to understand your model risk. Define roles and access to the platform giving you full role-based security management, delivering increased transparency with an enterprise-wide view.

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Enterprise-wide model risk management

ClusterSeven MRM helps your modeling team to better understand the capabilities and limitations of models. That lets you use models more effectively. Problems and inefficiencies can be spotted earlier and more easily, helping you improve models.

Sophisticated, automated risk management models not only satisfy regulators, but also streamline workflow and are more cost-effective, thanks to time savings and reduced financial losses.  Plus, they allow better business judgments to be made through increased model transparency.

ClusterSeven MRM is a uniquely comprehensive solution for managing model risk, whether you’re using models to manage the business, develop new products, or to comply with regulations like SR11-7, SS3 18, TRIM or initiatives like the UK’s Operational Resilience.

Who’s using ClusterSeven?

Click on the client logos below to see each Case Study.

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Uncover your Shadow IT risk with a ClusterSeven Health Check

Want to gain insight into the hidden spreadsheets and EUC files scattered throughout your enterprise? A comprehensive ClusterSeven Health Check will automate their discovery, risk-assess them, and store them in an active inventory as part of your ongoing business-as-usual continuity process.

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Discover ClusterSeven Model Risk Manager

Learn more about how to manage the spreadsheets and potential risk hidden across your organization.