CHICAGO (June 15, 2015) – To help financial institutions more effectively manage model risk and respond to examiner expectations, Crowe Horwath LLP, one of the largest public accounting, consulting and technology firms in the U.S., has introduced the Crowe Model Risk Manager solution.
Crowe Model Risk Manager is a software solution that facilitates an organization’s model risk management process and provides meaningful insight into the complex inter-relationship of models across the enterprise. Unlike simple spreadsheets or databases, Crowe Model Risk Manager is an enterprise tool that provides a single view to more easily manage and control models.
“Financial institutions can have hundreds, if not thousands, of models, making model risk management incredibly complex and challenging. We combined our technology background with our extensive experience working with financial institutions to develop a solution that supports sound practices and provides the automation required for effective model governance. This gives financial institutions a consistent way to identity, manage and mitigate model risk while meeting regulatory and business requirements,” said Brian Kloostra, a principal in the Crowe Risk Consulting group.
Crowe Model Risk Manager was built to satisfy the requirements outlined in the latest supervisory guidance and provides a comprehensive approach to allowing an organization to identify and inventory models and understand model risk; develop, monitor and validate models; and deploy effective model governance and control.
Crowe Model Risk Manager includes the following components:
For more information on Crowe Model Risk Manager, visit http://www.crowehorwath.com/mrm.
About Crowe HorwathCrowe Horwath LLP (www.crowehorwath.com) is one of the largest public accounting, consulting, and technology firms in the United States. Under its core purpose of “Building Value with Values®,” Crowe uses its deep industry expertise to provide audit services to public and private entities while also helping clients reach their goals with tax, advisory, risk and performance services. With offices coast to coast and 3,000 personnel, Crowe is recognized by many organizations as one of the country's best places to work. Crowe serves clients worldwide as an independent member of Crowe Horwath International, one of the largest global accounting networks in the world. The network consists of more than 200 independent accounting and advisory services firms in more than 120 countries around the world.