Model Risk Management Solutions for Banks

EXL provides comprehensive Model Risk Management (MRM) services designed to help banks comply with stringent guidelines like SR11-7 and TRIM. They offer expert risk advisory to enhance MRM compliance and bespoke tools to standardize and automate workflows while managing model inventories. Their end-to-end services cover model validation, performance monitoring, and detailed reporting to stakeholders. EXL’s approach includes right-sizing MRM coverage based on complexity, developing KPIs, and implementing risk triggers for model performance. They address AI/ML modelling risks through cross-validation and bias mitigation techniques. Their governance framework includes defining roles and processes, formalizing standards, and ensuring robust oversight through expert panels and technical committees. EXL supports board-level communications with simplified summary reports and necessary trainings. They also focus on balancing organizational agility with robust MRM practices. EXL helps banks address gaps in their MRM processes and improve execution speed while maintaining compliance. Overall, EXL’s services aim to simplify model creation, monitoring, and risk management.