About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Thomson Reuters Adds Model Risk Management to Connected Risk Platform

Subscribe to our newsletter

Thomson Reuters is building out its Connected Risk platform with the addition of a Model Risk Management (MRM) solution that allows financial institutions to demonstrate real-time understanding of their model risk landscape and report on model governance status and sign-offs from a single platform source.

The solution provides risk professionals with a holistic understanding of how each model in the business is derived, validated and applied. It includes a simple, yet powerful, approach to model governance, allowing the capture of updates and additions to the model inventory with real-time reporting to regulators. Changes are managed with an audit trail of supporting documentation, issues resolution and sign-off.

Regulations for which the MRM solution is a good fit include the Comprehensive Capital Analysis and Review (CCAR), Fundamental Review of the Trading Book (FRTB), Targeted Review of Internal Models (TRIM), International Financial Reporting Standard 9 (IFRS 9) and Basel III.

Gareth Evans, managing director, Enterprise Risk Management at Thomson Reuters, says: “Model transparency and efficiency continue to be challenges for many of our global customers. The MRM solution not only helps save time and costs, but also evidences a robust framework for internal and external stakeholders, while mitigating the risk of model failure, regulatory fines and operational losses.”

As well as supporting regulatory compliance, the MRM solution enables governance, risk and compliance teams to track all models across all risk themes using a single inventory store, helping to reveal potential redundancy and duplication within the inventory. Issues with models can be identified and tracked through to resolution, with supporting documentation showing methodology and results.

The Thomson Reuters Connected Risk compliance platform was introduced early this year and offers institutions ready-to-go risk and compliance functionality, as well as the option to integrate third-party RegTech and legacy technologies into a complete enterprise risk management solution. It includes technology that can translate internal and external data to a common standard, and provides user defined dashboards that show all risk data required by specific business strategies or regulators. The ultimate aim is an automated solution that gives firms a true and timely understanding of their risk profile and the information they need to make informed decisions.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Managing Off-Channel Communications Compliance

Managing off-channel communications – business interactions occurring outside of approved corporate systems – continues to challenge firms’ compliance efforts. The rise of personal messaging apps, social media, and other unmonitored channels – for example, messaging functionality embedded in an order management system – exposes firms to substantial regulatory risk. Enforcement actions by regulatory bodies, such...

BLOG

Unlocking $100 Trillion: Chainlink’s New Framework for On-chain Institutional Finance

Chainlink, the decentralized blockchain network designed to facilitate the transfer of tamper-proof data from off-chain sources to on-chain smart contracts, has introduced its Automated Compliance Engine (ACE). ACE is a modular framework aimed at addressing compliance challenges in onchain finance and facilitating institutional participation in blockchain markets. Built atop the Chainlink Runtime Environment, ACE is...

EVENT

Data Management Summit London

Now in its 16th year, the Data Management Summit (DMS) in London brings together the European capital markets enterprise data management community, to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

The DORA Implementation Playbook: A Practitioner’s Guide to Demonstrating Resilience Beyond the Deadline

The Digital Operational Resilience Act (DORA) has fundamentally reshaped the European Union’s financial regulatory landscape, with its full application beginning on January 17, 2025. This regulation goes beyond traditional risk management, explicitly acknowledging that digital incidents can threaten the stability of the entire financial system. As the deadline has passed, the focus is now shifting...