Enterprise-wide model risk, ready for OSFI E-23
OSFI Guideline E-23 sets enterprise-wide expectations for how federally regulated financial institutions govern, validate, and monitor models across their full lifecycle. Yields gives you one configurable platform to operationalise those expectations, from a complete model inventory to risk-based assurance and a traceable audit trail.
Trusted by leading financial institutions including HSBC, BNP Paribas, Euroclear, and Banco do Brasil.
The context
What OSFI E-23 asks of you
E-23 is OSFI's guideline on enterprise-wide model risk management for federally regulated financial institutions in Canada, covering banks, foreign bank branches, life insurers, property and casualty companies, and trust and loan companies. It applies to all models that carry risk, whether built in-house or sourced from a third party, and AI and machine-learning models are explicitly in scope.
The guideline is principles-based, but operationally prescriptive. It sets out twelve principles across three pillars, along with concrete activities and a minimum model inventory standard. Model risk management is no longer a point-in-time exercise or the job of a single team. Responsibilities are distributed across model owners, reviewers, approvers, monitors, and implementers, and the requirement to track, evidence, and report on model risk at enterprise scale points firmly towards a system-based approach. That is where Yields comes in.
The Yields approach
How Yields gets you E-23 ready
E-23 is principles-based, so hard-coded systems become a liability. Meeting it requires a configurable platform with a complete inventory, lifecycle management, controls linked to risk, ongoing monitoring, and a traceable audit trail, so you can operationalise your own policies and stay regulator-ready. Yields is built exactly this way, and maps directly onto the guideline's three pillars.
A complete, structured model inventory
E-23 sets a minimum standard for what a model inventory must capture. Yields gives you a formal, comprehensive inventory that records the attributes the guideline expects for every model, in-house or third-party, so your inventory is a live source of truth rather than a spreadsheet that ages the moment it is saved.
Risk tiering that drives assurance
E-23 requires each model to be assessed with an inherent model risk rating, and for that rating to drive the depth and frequency of independent review. Yields operationalises this risk-based approach, so tiering flows straight through to assurance activity, and oversight concentrates where inherent risk is highest.
Full model lifecycle governance
E-23 details expected activities across the lifecycle, from design and development, data, and independent review through approval, implementation, monitoring, and decommissioning. Yields provides the workflows that carry a model through each stage, capturing the data points that drive governance steps, reporting, and the flow of subsequent activities.
Enterprise-wide roles and accountability
Under E-23, model risk management is not the job of one team. Yields supports the full taxonomy of roles, model owners, reviewers, approvers, monitors, and implementers, with clear ownership at each stage, so the enterprise-wide mandate of the guideline is reflected in how work actually gets done.
Continuous monitoring for dynamic and AI models
E-23 was driven in part by the rise of dynamic, self-learning, and autonomous AI models, and it treats monitoring as an ongoing discipline with defined thresholds and escalation. Yields supports continuous monitoring of performance and data behaviour, with thresholds that surface issues early, keeping even continuously updating models under control.
A traceable, regulator-ready audit trail
Every activity under E-23 needs to be tracked, evidenced, and available for internal management, audit, and regulatory scrutiny. Yields maintains a transparent, traceable record across the lifecycle, so the evidence a supervisor expects is a by-product of the process rather than a scramble before a review.
One inventory, risk-based assurance, lifecycle workflows, and a full audit trail. Structured, enterprise-wide, and regulator-ready.
See it in action →Why one platform matters
One framework for a multi-jurisdiction reality
E-23 rarely stands alone. Institutions operating across borders also answer to frameworks that take a different approach, most notably the US SR 26-2, which narrows the definition of a model, concentrates its heaviest expectations on the largest institutions, and routes generative and agentic AI to separate governance. A single model used across borders can fall under strict, all-model lifecycle governance in Canada and a narrower, materiality-driven scope in the US at the same time.
Forcing these regimes into one rigid framework breaks down fast, and running them as separate silos creates duplication and constant reconciliation. The Yields Multi-Governance framework structures the complexity instead of flattening it. Its Triplet architecture, Model x Usage x Governance, lets a single model carry multiple governance lenses without ever being duplicated. Core model information lives once as a single source of truth, while each regime keeps its own attributes, workflows, and lifecycle. The result is clear oversight across borders, far less manual reconciliation, and validation work that can be reused from one regime to the next.
Why Yields
Built for enterprise-wide model risk
E-23 raises the bar and broadens the mandate, putting model risk teams under pressure and making the right tools essential. Because model risk is now an enterprise-wide responsibility spread across many stakeholders, a system-based solution is no longer optional. Yields is that system: a configurable platform that operationalises your own policies, captures the data that governance depends on, and gives every stakeholder a shared, structured view of model risk.
Configurable platform built for enterprise-wide MRM
AI and machine-learning models fully supported, alongside traditional models
Trusted by HSBC, BNP Paribas, Euroclear, and Banco do Brasil
Turn E-23 into everyday model risk management
Yields helps you move from principles on paper to model risk management that runs every day, with the configurability to operationalise your own policies and the traceability to prove you are in control across the full lifecycle. Built to evolve with your risk profile, and ready whenever the supervisor asks.