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MEGA’s Solutions for Model Risk Management: Innovation in Risk Management

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Over time models have grown in variety, complexity, and use within financial services organizations.  They have moved from tactical pieces of input to a strategic pillar that provides the infrastructure and backbone for strategy and decisions at all levels of the organization. Time and evolution of models left uncontrolled bring forth loss and potential disaster.  Unfortunately, many organizations lack governance and architecture for model risk management. Financial services organizations need to provide a structured approach for model risk management that addresses model governance, lifecycle, and architecture to manage models and mitigate the risk they introduce while capitalizing on the significant value of models when properly used. MEGA’s solutions for Model Risk Management has been researched, evaluated, and reviewed by GRC 20/20, with organizations that are using it in changing, distributed, and dynamic business environments. GRC 20/20 has evaluated and verified the innovation found in the MEGA HOPEX platform and sees this as a compelling offering for model risk management with a compelling approach applying enterprise architecture capabilities to model an organizations models.  Their unique approach makes organizations more efficient, effective, and agile in keeping inventories and documentation of how models should function. In this context, GRC 20/20 has recognized MEGA with a 2015 GRC Innovation Award for the best technology innovation for risk management in 2015.

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Product Description

MEGA’s Solutions for Model Risk Management

Innovation in Risk Management

Over time models have grown in variety, complexity, and use within financial services organizations.  They have moved from tactical pieces of input to a strategic pillar that provides the infrastructure and backbone for strategy and decisions at all levels of the organization. Time and evolution of models left uncontrolled bring forth loss and potential disaster.  Unfortunately, many organizations lack governance and architecture for model risk management. Financial services organizations need to provide a structured approach for model risk management that addresses model governance, lifecycle, and architecture to manage models and mitigate the risk they introduce while capitalizing on the significant value of models when properly used. MEGA’s solutions for Model Risk Management has been researched, evaluated, and reviewed by GRC 20/20, with organizations that are using it in changing, distributed, and dynamic business environments. GRC 20/20 has evaluated and verified the innovation found in the MEGA HOPEX platform and sees this as a compelling offering for model risk management with a compelling approach applying enterprise architecture capabilities to model an organizations models.  Their unique approach makes organizations more efficient, effective, and agile in keeping inventories and documentation of how models should function. In this context, GRC 20/20 has recognized MEGA with a 2015 GRC Innovation Award for the best technology innovation for risk management in 2015.

  1. Organizations are Dependent Upon Models
    • How Models Work
    • When Models Fail
  2. Model Risk Management Architecture
    • ‘Modeling’ the Models
  3. MEGA’s Solutions for Model Risk Management
    • Innovation in Risk Management
    • What MEGA’s Model Risk Management Innovation is About
    • How are MEGA’s solutions for Model Risk Management Innovation Different?
    • Considerations in Context of MEGA’s solutions for Model Risk Management
  4. About GRC 20/20 Research, LLC
  5. Research Methodology

rasmussenMichael Rasmussen – The GRC Pundit @ GRC 20/20 Research, Michael Rasmussen is an internationally recognized pundit on governance, risk management, and compliance (GRC) – with specific expertise on the topics of GRC strategy, process, information, and technology architectures and solutions. With 23+ years of experience, Michael helps organizations improve GRC processes, design and implement GRC architectures, and select solutions that are effective, efficient, and agile. He is a sought-after keynote speaker, author, and advisor and is noted as the “Father of GRC” — being the first to define and model the GRC market in February 2002 while at Forrester Research, Inc.


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