Scale and streamline MRM processes

Overview

A local tier 1 bank was looking for technology to automate MRM processes and enforce a consistent way of working across the
model development and model validation teams. While they were considering building a solution in-house, the configurability
and flexibility of Chiron Enterprise’s features were the deciding factors for the bank to team up with Yields.io.

The bank’s challenges

Manual and inconsistent documentation

The creation of model documentation is time-consuming, and it’s structure and content is inconsistent and often incomplete.

Working in silos

Model development and model validation teams are using different tools leading to an inefficient transfer of data and an undesirable slow interaction between both teams.

Lack of control

Due to the absence of a workflow management tool, the bank’s management team struggles to monitor MRM activities and enforce compliance to their model risk policies and procedures.

Our Solution

The bank has chosen an on-premise deployment of Chiron Enterprise to streamline end-to-end MRM activities and improve the collaboration between the first and second line of defence. Chiron Enterprise will be integrated with the bank’s existing data repositories, and other internally used systems to support the target-state MRM lifecycle.

Benefits of Chiron Enterprise

Eased model documentation

With the documentation builder in Chiron Enterprise you can create documentation by selecting content instead of writing it. The tool standardises the structure of the documentation, embeds quality controls, and produces significant efficiency gains.

Customized workflows

The workflows in Chiron Enterprise can be configured to replicate existing MRM business processes while maintaining the ability to adapt some of their components over time in a dynamic market and regulatory environment.

Improved collaboration

Chiron Enterprise facilitates collaboration between model development and model validation so that model related information and documentation can be shared centrally and in a controlled manner. Deploying Chiron Enterprise as orchestrator enables the bank to move away from a fragmented way of operating.