Perform model risk assessment

Perform the model risk assessment initiated by the Model Governance team to identify and assess the risks related to a quantitative model using the Model Risk Management application.

Before you begin

Role required: sn_model_risk_mgmt.model_owner or sn_model_risk_mgmt.model_validator

Note:

To perform the model risk assessment from the GRC task page, you must assign either the business_user or business_user_lite role to sn_model_risk_mgmt.model_owner.

Procedure

1. Navigate to All > Self-Service > Employee Center.
2. Under My active items, select GRC tasks.
3. Select the model risk assessment from the My to-dos card.
4. Respond to all the factors or questions listed in the Materiality Assessment.
5. Respond to all the factors or questions listed in the Risk Assessment.
6. Select Submit.
   After you submit your responses, you are no longer able to modify them.

Result

The model risk task is submitted for approval. If no approvers are configured, the model directly moves to the Pre-deployment state.