Thomson Reuters Expands Risk Management Platform

Thomson Reuters has expanded its Connected Risk platform to include a Model Risk Management (MRM) solution. The solution allows 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. Financial modeling plays a critical role in several financial institution activities, including credit underwriting, risk management, capital adequacy and instrument valuation. The MRM solution is designed to provide Risk professionals with an understanding of how each of these models in the business is derived, validated and applied. It features a simple approach to model governance, allowing for the capture of on-the-go updates and additions to the model inventory with real-time reporting to regulators, committees and cross-risk functions. Changes are managed with an audit trail of supporting documentation, issues resolution and sign-off.