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Risk Model Monitoring & Refinement

3AI August 17, 2020

A Leading Mortgage Services Company

Problem Statement

  • Ask was monitoring expertise which can help improve model monitoring structure. There were no standardized set of model monitoring parameters
  • Model documentations were typically not available, in some cases the owners were also not known
  • There was manual process of monitoring the models and producing PDF reports with immense man hours getting lost in the process

Analytics Led Approach

  • A VBA-based dashboard was prepared which automated the entire process ,reducing the chances of error drastically
  • It provided excessive ease of usability by avoiding multiple steps of fetching data , running codes, downloading data and chart creation
  • The tool churned out ready to consume reports, which provided a snapshot of the health of the model for more informed decision making

Business Impact

  • 80% reduction in manual effort by automating model performance report generation
  • Ensured that business decisions were in line with the correct scoring definition
  • Keeping the model variables relevant and at its optimal performance
  • Overall impact of the tool
    • Total man-hours saved ~ 720
    • Dollar impact in the upwards of $ 300K

Critical Success Factors

  • Standardization of the entire model monitoring process
  • Removal of any kind of subjective decision
  • Maintaining data integrity
  • Timely compliance with regulatory requirements

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