Model Risk Workspace

The Model Risk Workspace enables the model risk governance team and model validators to view the action items that require their immediate attention.

The Model Risk Workspace gives model risk governance teams and model validators a centralized environment to monitor, track, and act on model-related tasks and issues. It organizes key information into easily accessible tabs, helping you prioritize your work and take timely risk management actions.

It displays overdue items, upcoming deadlines, critical issues, new initiated models, and the status of models throughout their life cycle. The workspace enables teams to make informed decisions quickly and reduces the need to navigate multiple pages or reports.

You can access the Model Risk Workspace by navigating to All > Model Risk Workspace.

The Homepage of the Model Risk Workspace contains the following information:

Figure 1. Model Risk Workspace

Tab	Description
What’s new	The What's new section shows information based on the selected time period of 30, 60, and 90 days.
Needs attention
Overdue task	Lists model risk tasks that have passed their due date and require immediate action.
Tasks due in a week	Lists model risk tasks with deadlines within the next seven days, enabling you to plan ahead.
Critical open issues	Shows unresolved high-severity issues related to the model risk that may significantly impact compliance or operations.
Issues due in a week	Shows issues that must be resolved within the next seven days, enabling you to plan ahead.
Initiated models	Lists models that have been created but haven’t yet progressed to later life cycle stages such as assessment or validation.