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Oracle Financial Services Model Risk Management

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1. Validation Type Criticality i E Target Date Pr Model Tier y Y Y K la El Last Modified w The definitions list that match the search criteria is displayed in the Model Management window A 1 1 2 1 Save Advanced Search You can save an Advanced Search once you have populated the search criteria Such a saved search is considered as a pre defined search and is listed in Views Search drop down list A 1 1 3 Views Views represent pre populated search queries and helps you to filter the processes based on the pre defined views Click Views button to access Views Search Example A 3 Views If you want to retrieve a list of Models in Model Management window whose parameters are similar then you can make use of Views Search E Views Pending Retire Approval Model w AA Manage Views Ll Search Ll Advanced Search To search for a set of Models using Views 1 Click Views button in Search grid of the Model Management window The Views search is displayed 2 Select the required pre defined view from the drop down list The Models matching the selected view are displayed in Model Management window A 1 1 3 1 Manage Views From the Views Search window you can manage the existing View Searches or define new View Searches To create a new View Search from Manage Views window 1 Enter the name of the new Search in the Search Name field 2 Enter the description for the new search in Search D
2. A estati n Frequency Hall West Regelation MPD D450 Model Tier Tier To Restriecnon on Usa ASSUFTIP IGE Kacern LirnilaGon Dane Ar i TE Lee al intranet Prefinehed Mode OM fa HINS The Status of a saved definition changes to Draft and is displayed on the top right corner of the Model Management Details window The saved Model is displayed in the Model Management window You can click the Model ID to view the details 4 5 1 2 View Model Definition A pre defined Model definition can be viewed from the Model Management window To view the details of a pre defined Model definition from the Model Management window Click the Model ID of the definition you want to view The Model Definition details are displayed in Model Management Details window 4 5 1 3 Edit Model Definition The Model Creator Model Owner can edit a saved Model definition if it is in Draft In Development or In Review status from the Model Management window Analyst can edit a saved Model definition if it is in In Development status Editing Model definition facilitates the population of additional details and further actions after the creation of the Model To edit a Model definition from the Model Management window follow these steps 1 Click the Model ID of the Model definition which you want to edit The Model Management Details window is displayed 2 Click the Edit button from the Definition tab 4 12 Oracle Financial Ser
3. E E a Derek t High Risk Usage t Usage status Tire mwn 7339 2011 9 06 09 AM Time mun By 4003 Gobble AH gt 40 Gun aA au a me 60 u J ND a E z Q ai Has 7 ai Mas 16 _ daa 15 io m E 5 RA oa i E A a k E TEF a E 5 5 k 7 i k H Par PER EYE El LE ae Tue Pee Ga BS 2 E EE Fe E E Dene ky Leca intranet Protected Mode Off ig Rin This view displays the reports in left and right panes along with the Tasks amp Notification report and Announcements at the center Home 2 1 Home Window If you are any user other than Admin user your Home window is as follows 4 Model Fisk Management Windows memet Lxplores ORACLE Model Risk Management liodel Creator Thursday August 23 2043 ama inbox Medal Management Admin Daabbaard View Reports High Risk Models and Usage Announcements Notifications E Modifications 34 2 Gereerap 113 gt 5 t High Risk Models Hotication Name Entity Time nuns 6 2013 004 31 AM hoot Retremen Model Rebied hodel crea Le Hoot Rebrement Model Reinig Model crea La ne A Hotty Rotor Model Retined Model crea Len b ao q Notify Retirement Modal Ratirad Model crea Lin p men Mont Approval Model Approved E ua Model crea Lae 4 ase J Mait Comge Model i Model rea e 0 a Notify Approval Model Approved ae Model crea 22 4 Hetty Approval Model Approved L 2 LINK heal Comple on Model Dewela Wl LINK Mani Appia Mode
4. The selected Issue s are linked with the Model definition and are listed under Issues grid in Issues and Actions tab of Model Details Management page The Issues are listed with the details such as Issue ID Issue Name Type Creator Owner CCY Estimated Cost Target Date Last Modified and Status You can view the Actions associated with each Issue by selecting the check box adjacent to the Issue ID The associated Actions are displayed under Actions grid You can also select the check box adjacent to an Issue ID and click Delink button in the Issues grid to delink an Issue from the Model definition 4 5 1 9 10 Change Log The change log helps you to track any amendments made to the Model definition This is possible only for a definition which is in In Use status To create a new log information for a Model definition which is in In Use status follow these steps 1 Click the Model ID of a Model to which you want to associate a change log The Model Management Details window is displayed By default the Definition tab with the basic Model definition details are displayed 2 Click the Other Information tab The Other Information tab is enabled This tab displays the available change log details under Change Log grid The Other Information tab also displays the Model ID Model Name Status Version Model Owner and BU Head details 3 By default the Change Log Details form is in editable status Alternatively you can c
5. 7 2 3 12 2 Overdue Usage Issues Overdue Usage Issues report provides you the details of Usage Issues which are overdue Overdue Usage Issues Time run 9 3 2013 2 22 48 PM Usage ID Version Usage Name Business Line Category Usage Owner BUHead Issue ID Issue Name Status Target Completion Date 42 0 Barrier Option Network and Advisory Sales Credit Risk 81327314 testing issue profile report Open 31 Aug 13 81223241 R1 1 Retail Banking Network and Advisory Sales Liquidity Risk Tom Harely _ Black Hanes 81254333 IS5_1 Draft 31 Aug 13 8124213911 Usage Validation Wholesale Banking Credit Risk Mark Owens Black Hanes 31254356 ISS_ 2 Draft 31 Aug 13 8124771011 Validation Wholesale Banking Credit Risk Mark Owens Black Hanes 31249635 Issue Created for Usage Validation Open 31 Aug 13 81249651 Validation Usage Open 31 Aug 13 81258671 1 0 _ PD Model for Corporate Finance Wholesale Banking Division Credit Risk _ Mark Owens Black Hanes 31262753 PD Model calibration Open 07 Aug 13 81272491 1 REJ Wholesale Banking Market Risk Mark Owens Black Hanes 31320340 testing issue for linkages tab Open 31 Aug 13 81319815 ERRIC ERRIC Network and Advisory Sales Liquidity Risk Owner Black Hanes 81324316 ERRIC Open 81320273 ccd _ ecd Wholesale Banking Market Risk Owner Black Hanes 81324169 ccd Open 81323483 1 REINST Network and Advisory Sales
6. a External u IT a Infrastructure 5 Select the type of the Question as Single Choice Multiple Choice Free Text Number or Range from the Question Type field Depending on the choice of your type selection enter the details from the following sections 6 22 Oracle Financial Services Model Risk Managemet Questionnaire 6 10 1 1 1 Single Choice If you have selected the Question type as Single Choice enter the following details under the Single Choice field le Select Display as drop down or Display as Radio Buttons option by selecting the appropriate radio button Add the drop down or radio button options by clicking the Add Option button and entering the option in the Response Options field You can also select the check box adjacent to the Response Options field and edit an existing option or click Delete Options button to remove an unwanted option The Question will be displayed as shown in the following example Question 1 What is the capital of America Select the correct option Select one Option 6 10 1 1 2 Multiple Choice If you have selected the Question type as Multiple Choice enter the following details under the Multiple Choice field 1 Select Display as Check box list or Display as a Combo Box option by selecting the appropriate radio button Add the drop down list or radio button options by clicking the Add Option button and entering the option in the Response Options field Y
7. r E Workflow Stage Details Windows Internet Explorer Stage ld 81299347 Name Model at Stage Draft Entity Status Draft Entry Point Description Model at Stage Draft Mandatory Status Enable Is Committee Stage Is User Based Yes Pre Condition Post Condition Comments Level Created By Created Date Last Modified By Last Modified Date Save Back i Local intranet Protected Mode Off 2 Populate the form details as tabulated below Table 6 4 Field Description The field s marked in asterisks mandatory Stage ID This is an auto populated sequential tracking number assigned to Workflow Stages This field is not editable Name Enter the name of the Workflow Stage Entity Status Click Browse button and select the status in which the Workflow Stage is active from the Hierarchy Browser Entry Point Enter the entry point value of the Workflow Stage This field is numeric and the values are set in individual Stages Description Enter a brief description of the Workflow Stage Mandatory Select Yes if the Stage is mandatory in the Workflow Status Select Enable to enable the Workflow Stages and Disable Is Committee Stage Is User Based Pre Condition otherwise Select Yes if the Workflow Stage requires committee approval and No otherwise If committee approval is set for a Workflow Stage the Workf
8. 3 Click OK in the confirmation dialog box The Question review has been initiated and the status is changed to In Review Note Clicking the Submit button of a Question definition in In Review status moves the definition to Open status 6 10 1 4 Delete Question You can delete the details of a Question which is in Draft status from the Questions Library window To delete the definition details of a Question from the Questions Library window follow these steps 1 Select the check box adjacent to the Question ID of the Question definition which you want to remove Admin 6 25 Questionnaire 2 Click Delete Question button 3 Click OK in the confirmation dialog box The Question definition details are deleted and removed from the Questions grid 6 10 2 Questionnaire Library The Questionnaire Library allows you to create and manage Questionnaires which are a set of Questions to be used to determine the stability of Models You can navigate to Admin gt Questionnaire gt Questionnaire Library from the OFSMRM Home screen to access Questionnaire Library window The Questionnaire definitions are displayed with details such as ID Name Type Purpose Number of Questions Status and Last Modified Date information You can search for a Questionnaire or a set of Questionnaires from the Questionnaire Library window For more information refer to Search and Filter section The following actions are possible from the Q
9. 4 42 Oracle Financial Services Model Risk Managemet Components of Model Management 10 Click Submit The Usage validation is scheduled and the schedule is displayed under Scheduled Validation grid of the Validation tab 1 Click the Model ID of a Model to which you want to schedule a validation The Model Management Details window is displayed By default the Definition tab with the basic Model definition details are displayed 2 Click Validation tab The Validation tab is enabled The Validation tab displays the Model ID Model Name Status Version Model Owner and BU Head details 3 To schedule the validation for a selected Model click the Schedule New button from the Scheduled Validation grid The Model Validation window is displayed 4 Populate the form with the necessary details as tabulated below Table 4 15 Field Description The fields marked in asterisks are mandatory ID The ID of the validation is auto populated and this field is not editable Type Select the type of the validation from the drop down list The available values are Back Testing Control Evaluation of the Conceptual Soundness Ongoing Monitoring Outgoing Analysis Result Full Scope Review Quantitative Performance Monitoring Validation Start Date Select the start date of validation from the Calendar Prior Notification Enter the number of days prior to the validation execution you want the
10. Close Validation Task Role Validator Analyst Approver Approved k NY F Validation Approved Eeo f Reopen Validation Task by Validator _ 4 4 Oracle Financial Services Model Risk Managemet New Pending Approved Closed User Roles and Actions 4 2 4 Stage The following figure depicts the workflow of a Stage G Start Link Stage for the Model or Usage a TT m Capture Stage Owner and Approver a Z D Z E Role Model Creator Usage Creator Model Owner dj Developmentof model or usage stage activities and submit for approval In E foe stage Owner Reviewer re Verification and Approval of the Stage E Pending Rejected _ Approved Stage Approved hd Approved i Reopen Stage 2 z Approved l r j MI 4 3 User Roles and Actions Different actions that can be performed on a Model are dependant on the roles assigned to each of the users The following table describes the actions that can be performed by various users in the Model Usage Development workflow Table 4 1 Action Action Taker Create Model Usage Creator Update Modify Details Creator Analyst Link Stages Creator Model Owner Delete Model Usage Creator E mail Model Usage Creator Owner Analyst Approver Details Model Management 4 5 User Roles and Actions The following table describes the actions that can be performed by various users in the Model Usage Stag
11. Version Model Name Description Source Development Objective Preceding Model ID Developed By Business Line Category Model Owner BU Head The Model ID is auto generated Enter the version of the new Model The maximum allowed characters are five Enter the required name of the new Model The maximum number of characters should not exceed 50 Enter a description for the Model under development Select the Source from the drop down list The available values are In House These Models are developed within the organization Third Party These Models are developed by a third party and are implemented by the organization Hosted These Models are developed and serviced by a third party but is implemented within the organization Select the development objective from the drop down list The available values are Automation Automation facilitates the automation of the concept behind the Model Replacement In Replacement the objective is to replace an existing Model with a new one a Recalibration In Recalibration the variables within an existing Model are updated Redevelopment In Redevelopment the development of an existing Model is re initiated for an updated concept New Development In New Development a new Model with new concepts is developed Select the preceding Model ID from the Hierarchy Browser window by clicking the Browse button This field
12. MER DE Pead Hoda dor wat bus DEL Anat Darin Credit Fark Marcar mu ven Gee Hacia Modo x peor Dar Maron ls oda Bu Low Ter Gee Vel t Dene Pend ha iL ABC LEA Marat hee Moda Bu Modus Ter T Dra bid Th Then i por te pei meed ard Meter ad Adry Lai Mayra El Low Te LEP iat Cure Peai Taniy imt al Ema ring Credit Fak Modal fi E Tier Teg Hero Heal This or 1 ADC LA Credit Fak Moear El era Low Ter Dre Tee Shanes ros ME 1 MC LEA Credit Fog Model mu er Low Tier Dre Ter Geer Heal Hal reirte misi Testy Pisi Tearky Pending Incl dppro E Milena Peking Lore dr Pending Reire doped En Dreigt Eri Line The reports available under Usage tab are the following High Risk Usage Usage by Regulation Current Vs Previous Usage Validation Rating Usage Validations Task Schedule Usage Validation Heat Map Additional Reports Usage Status Report Overdue Usage Issues Overdue Usage Actions Overdue Usage Attestations Overdue Usage Validations Overdue Usage Change Log Pending Approval Usage Stages Usage Details isideter akon uscar a Barg Lada aise ee Be g En BLAS 10434 g brii buig y Pri EEEE BEITE BMEIMHJIIT BLA Stone 3 Lee High 27 Lom mi High 42 Len yO Edo pas AO kate LHD kE THO keh ae WENED de dan ea E ATT 1 37 00 ima ATT Le ima FH 3000 aT LR O Ret Berki D erica 3 Heri 3
13. Version Source Development Objective and Preceding Usage ID of a Usage definition which is in In Development In Review or Rejected and Rework status Model Management 4 33 Components of Model Management For more information refer to Create Issue section 3 Once all the necessary details are updated click Update button The Usage definition details are updated 4 5 2 4 Submit Usage for Initial Approval A Usage definition which is in Draft or Rejected status whose Source is In House or Hosted has to be submitted for initial approval Only a user who has Idea Approver role assigned can approve a Usage definition To send a Usage definition for approval from the Usage Management window perform the following actions 1 Click the Usage ID of the Usage definition which is to be sent for initial approval The Usage definition details are displayed 2 Click Submit for initial Approval button 3 The Usage Initial Approval dialog box is displayed 4 Select the Initial Approver by clicking Browse button and selecting the user from Hierarchy Browser window 5 Enter the required comments in Comments field 6 Click Submit The Usage definition has been submitted for initial approval 4 5 2 5 Submit Usage for Approval A Usage definition whose status is in In review In Development and Rejected and Rework has to be submitted for approval Only a user who has Usage Approver role assigned can approve a Usage def
14. 10 PM mi23 For Vaidabon check better not touch 3123 Private Barking Credit Rink Ter Tree Contra 8 23 2013 1 07 31 PM Ongeing Monitonng 4 2 13 11 34 02 AM 8 28 2013 11 32 14 AM Read B 2R I0 13 11 32 14 AM 8 23 2013 11 34 43 AM 7 2 4 2 Usage Validation Heat Map Model Validation heat map provides you a detailed view of Models with validation ratings This report tabulates the validation details with details such as Model ID 7 16 Oracle Financial Services Model Risk Managemet Reports Model Name Version Business Line Category Criticality Tier Validation Type Validation Rating and Validated Date t Usage Validation Heat Map ES Tine run 8 28 2013 11 53 43 AM io ad vekote vr c ID Lice Mare Wengen lueness line Categery Griat Tier vadiden Tppe valdabon Rating Vikdated Dase ADIDI Lise hr bet rep Ea 001 Die treks ai dub y Sad Licda y Pies Tr Thee Eraka of Concept Siit 101 2013 3 35 34 hm HEAL 007 PA Result 80312013 223 8 M HEND 2 a 26007 Leta ood Errante Bankir Gredt Riik T Pour Era bon of Conor Sarita 104 0013 2 57 17 PH 454501 255 18 PM ar 20 255 11 PM Organ Hirronng MA ATM 106 3013 3 56 57 PA Theis Th te Reng e HAM Tha 6 der tester th The Presi Bork Credit Fisk Were Low Ter Tes uires Anges 472013 122509 PM Result 037120139 Leesa FM 427 2017 152508 PM 10730013 11 355 PM 42712013 1231 12 PM Lee Lime Usage Wholesale Barbone Credit Ask Medium Ter Three Bleck Tering 0 25 2017 114400 dde
15. 31231570 Model Vaidai Schedule Ar27 2013 2 23 28 PM Tom Hare tine A 2003 2 00 30 PH GM 002 Usage Model Owner DU Head Prate Banking Credteisk Control Monthy 312941 Model Validator adhoc AN 2013 10 10 07 AM sonedile ANAD poste 30 AM Return Edt Refah Pont Export 7 2 3 12 6 Overdue Usage Change Log Overdue Usage Change Log report provides you the details of Usage Change Logs which are overdue Overdue Usage Change Log YA Time run 8 28 2013 12 03 00 PM Usage ID Version Usage Name Usage Owner Business Line Category BU Head Change Log ID Change Name Source Owner Created by Closed By Closed On Duedate 1 0 1 0 Usage of mark et risk model Model Owner ABC USA Market Risk BU Head 81231533 change Internal MOWN MRGA MOWN 24 Aug 13 81233105 ww_ External mown MOWN MOWN 24Aug 13 A Peet leo 81234 26 assa__ ExtermalMOWN MOWN MOWN 23 Aug 13 13523 3 sdfsdg Model Owner Network and Advisory Sales Liquidity Risk BU Head 81235618 second usage External MOWN MRGA MRGA 23 Aug 13 4USG002 002 Usage Model Owner Private Banking Credit Risk BU Head 81239254 Name Internal MRGA MRGA IMRGA 26 Aug 13 Return Edit Refresh Print Export 7 2 3 12 7 Pending Approval Usage Stages Pending Approval Usage Stages report provides you the details of Usage Stages which are Pending Approval Pending Approval Usage Stages TA Time run 8 2
16. A II E AN 2 3 o sis et eects teen eee Ged et eee Get ate ee at 2 3 Retire Announce i dais 2 3 3 Inbox Y ark asa eee aa EA eso ec 3 1 FR ASS UOT Sa A A A datas A A 3 3 4 Model Management OVINOS 4 1 Model and Usage Management Workflow ooonoconocnnocinoconincnoninancnnncnnonananonorononanonononanonncnnnonanons 4 1 Mode a aa ce act te ee lacy cea ee eae Tomas dha iain sta iS a carted dea ae fc 4 2 Usa nals ome E E E aa cus sata ue cnnaania a ecnap tea duate 4 3 VOM Oia id E 4 4 EET eA A E E A E noose sah suse E tsa tases aaa E E E 4 5 User Roles and Act Ons cuasi adicta 4 5 Tasksand Noufncationsin Models ida i a e a E sees sestibemuasciuys 4 6 Tasks and Notifications tv Usage A OER 4 6 Access Model Management cerios ireira A A AA AAA A 4 7 Components of Model Management daa 4 7 Mode Sessa id 4 7 Crete Modelado 4 8 View Model Dei ia 4 12 Edit Mogel Detrol N 4 12 submit Model tor Initial Ap prov all nen EN E a ueguans 4 13 submit WIOCE TOL 2x19 Pi OV alra a o A A 4 13 Submit Mode fOr Revie Wo Naia 4 14 Attest Model dis 4 14 A corsaias Sacae va darsacr T th aabataotacten E atesicteds 4 15 Model Details Mane netas a 4 15 Retire Model a AAA 4 27 Neristate Mode patatas 4 27 Delete Models ata nds 4 28 US pines 4 28 Create Uadec 4 29 View U sag e Derio rs 4 33 Pit Usa ce Dei dara 4 33 submit Usage tor Mial Approval essa EN 4 34 Submit Usage for Approval epi a 4 34 Submit Usagetor Revia A A tieethanaateee 4 34 Ate tU
17. Action as stakeholders To add a new user who does not have a User ID as a stakeholder of an Action from the Actions window follow these steps 1 Click the Action ID of the Action to which you want to create new stakeholders The Action Details window is displayed 2 Click button to expand the View More section 3 Click Add Stakeholder button from the Stakeholders grid A check box is populated under Stakeholders grid 4 Select the check box populated under Stakeholders grid The fields are enabled for edit 5 Enter the stakeholder details as tabulated below Issues and Actions 5 19 Components of Issues and Actions Table 5 11 Field Description User Name Enter the name of the stakeholder Designation Enter the designation of the stakeholder Email ID Enter the email ID of the stakeholder 6 Click Save button The stakeholder details are saved and is displayed under Stakeholders grid You can also select the check box adjacent to an existing stakeholder name and perform the following Update the details and click Save button to update the stakeholder information a Click Delink Stakeholders button to remove a linked stakeholder from the Action Note Delink operation is possible only if you have linked the stakeholder a Click Delete Stakeholders button to delink and delete a linked stakeholder from the Action a Click Send Mail button to populate the details and send an email to the st
18. Approver 4 Approve Enable model development through stages On approval of all development stages submit for final approval Validations have to be scheduled by the Analyst before the rigs Modelcan be submitted for approval Verification amp Approval of Model by Model Approver e _ Review Model and make necessary Rejected gt gt changes Modelis deployed in business area b validation and monitoring of model SA Review Model and make necessary changes Review _ gt oe Eg Recommend to Retire Model by Analyst Mm T ej Retire Model by Approver A Eg Approve Modelis retired A oe a Renee eraser ey Approved EA Recommend Reinstatement of Model by Analyst Mane pproval of Reinstatement of Model 4 2 Oracle Financial Services Model Risk Managemet Rejected Draft Pending Initial Approval In Development Pending Approval Rejected amp Rework In Use Pending Retire Approval Retired Pending Reinstatement Approval Model and Usage Management Workflow 4 2 2 Usage The following figure depicts the workflow of a Usage Creation of Usage by Usage Creator more Capture additional information of Usage by Usage Creator and submit model for initial approval Rejected Verification of Initial Usage by Idea Approver Approve Enable model developme
19. High Risk E Models U w om o mc Secs no ae ES aw BS n n O 2 aN a oc o CS gt gt Da Business Line Refresh Print Export You can also click any of the bar graph item to view the details of the High Risk Models in that Business Line or Category 7 2 3 2 Models by Regulation Models by Regulation report provides you a detailed view of the number of Models under different regulatories in a Business Line You can choose to view the number of Models either in various Business Lines or in different Categories from the View by drop down list Models by Regulation E Time run 8 28 2013 11 36 48 AM View by Business Line Msox MM Patriot ACT mocc IE MiFID E Dodd Frank Rule CFTC Margin Requirement Count of Models a MM BASEL E ASX Trading Rule DO a N ww a om y om p ABC USA Network and Advisory Sales Retail Banking Business Line Refresh Print Export Dashboard 7 7 Reports 7 2 3 3 Current Vs Previous Model Validation Rating Current Vs Previous Model Validation Rating report provides you the number of Models undergo different Validation Types t Current Vs Previous Model Validation Rating He Time run 8 5 2013 4 29 46 PM LI o a BEE PEL TI 34 Ind palis adoJs BuBu Busa AAAA 7 asaupunos jendacuos uogenjesg Buuopuopy validation Types Refresh Print Export 7 2 3 4 Model Validations Task Schedule Model Validations
20. Key Business Dimensions with user roles To map the access rights with user group from the User Profile Maintenance window perform the following steps 1 Select the check box adjacent to the User Group name to which you want to map access rights The Access Rights grid is enabled 2 Click Map Rights button from the Access Rights grid The Add Access Rights window is displayed 3 From the Add Access Rights window click the Browse button and select a Business Line for which the Access Rights have been assigned from the Hierarchy Browser window 4 Click the Browse button and select the category of locations for which the Access Rights have been assigned from the Hierarchy Browser 5 Select the check boxes adjacent to the Business Lines you want to map with the User Roles 6 Select the check boxes adjacent to the Role Codes of the user roles which you want to map with the Business Lines Admin 6 15 Access Rights You can search for a specific User Role from the Search grid using Role Code and Role name 7 Click Map Rights button The access rights are mapped to the selected user group 6 6 1 3 Delete User Group You can delete a user group which is no longer required and if there are no users mapped to the group To delete a user group which has no users mapped from the User Profile Maintenance window follow these steps 1 Select the check box adjacent to the user group name 2 Click Delete gr
21. Line Refresh Print Export 7 12 Oracle Financial Services Model Risk Managemet M Volker Rule IE Volcker Rule W U S Securities and Exchange IE Trust Indenture Act of 1939 Ml Securities and Exchange Act Ml Securities Exchange Act of 19 H Securities Act of 1933 M Sarbanes Oxley Act SOX MN Patriot ACT Ml Office of the Comptroller of t M Office of Thrift Supervision mocc MM National Credit Union Admini i MiFID Ml Investment Comnany Art of 4 Reports 7 2 3 9 Current Vs Previous Usage Validation Rating Current Vs Previous Usage Validation Rating report provides you the number of Usages undergo different Validation Types t _ Current Vs Previous Usage Validation Rating WO Time run 8 28 2013 11 37 06 AM 04 m oom ze P Z3 Mm m wn 30 E ze E 20r y aS sia Jg BES on 2 Validation Types Refresh Print Export 7 2 3 10 Usage Validations Task Schedule Usage Validations Task Schedule provides you the percentage of the number of validations scheduled in different quarters Usage Validations Task Schdule fed Time run 8 28 2013 11 56 01 AM 20 07 Mi Jan Mar i July Sep 57 14 us 14 29 No of Validations Scheduled Refresh Print Export 7 2 3 11 Usage Validation Heat Map Usage Validation heat map provides you a detailed view of Usages with validation ratings This report tabulates the validation details with details such as Usage ID Dashboard 7
22. Management 4 35 Components of Model Management On submit the status of the attestation is changed to Completed 4 5 2 8 Create Issue Issues can be assigned to a Usage which is in use To create an Issue for a Usage in use from the Usage Management window 1 Click the Usage ID of a Model definition about which you want to report an Issue Note Ensure that you have selected a Usage which is in In Use status The Usage definition is displayed in Usage Management Details window 2 Click Create Issue button The Issue Details window is displayed 3 Populate the required Issue Details For more information refer to Create Issue section 4 5 2 9 Usage Details Management You can incorporate additional details such as Products Source and Output details Stages Validation Schedule linkage of Issues and Actions Attestation details and Document attachment to a Usage for its further Usage Usage Management Details window allows you to perform these actions The actions that are possible on a Usage from the Usage Management Details window are the following Define Source Details Define Output Details Link Stages Inherit Stages Schedule Validation Link Issues and Actions Change Log Attach Documents Audit Trail You can download the profile report of a Usage definition which provides all the details associated with the selected definition For more information refer to View Profi
23. Owner Displays the user who is responsible for assessing the Action at present New Owner Select the new user who would be responsible for assessing the Action from the Hierarchy Browser Comments Enter any additional remarks regarding the Action 4 Click Submit The Action ownership has been updated You can transfer the ownership of an Action from the Action Details window as well 5 4 2 4 Force Closure of an Action An Action closes when the progress reaches 100 You can also force close an Action when you have completed all the activities created for an Action To force close an Action the status of the same must be Open and the status of the associated Activities must be Completed To force close an Action from the Actions window follow these steps 1 Select the check box adjacent to the Action ID which you want to close 2 Click Force Close Action button The Action Details window is displayed 3 Enter the reason for closure in the Reason for Closure field 4 Click Submit The Action is closed You can close an Action from the Action Details window as well 5 4 2 5 Reopen Closed Action An Issue Owner can reopen a closed Action To reopen a closed Action from the Actions window follow these steps Issues and Actions 5 17 Components of Issues and Actions 5 18 1 Select the check box adjacent to the Action ID of the Action which is to be reopened Note Only those Actions which are in Comple
24. Services Model Risk Managemet Components of Issues and Actions Table 5 10 Cont Field Description Progress Enter the progress of the activity in percentage Start Date Select the start date of the Activity from the Calendar End Date Select the end date of the Activity from the Calendar Comments Enter the required comments 6 Click Save button The activity is saved You can also select the check box adjacent to an existing activity and perform the following Update the details and click Save button to update the activity Click Delete Activities button to remove activity 5 4 2 6 2 Add Link Stakeholders You can create new stakeholders or link existing stake holders for an Action To link a user to the Action as a stakeholder from the Actions window follow these steps 1 Click the Action ID of the Action to which you want to link stakeholders The Action Details window is displayed 2 Click button to expand the View More section 3 Click Link Stakeholders button from the Stakeholders grid The Users window is displayed with the available list of users You can search for a specific user or a set of users from the Users window using the search parameters Name Business Line Location Designation or Email For more information refer to Search and Filter section 4 Select the check box s adjacent to the users you want to link as stakeholders 5 Click Link button the selected users are linked to the
25. Stages are activities involved in developing and building Models Model Creator and Model Owner can link the Stages which are appropriate for the Model to be developed Stages can be linked to an approved Model when it is in In Development status If all the Stages linked to the Model and the Model definition submitted for approval by the Analyst are approved by the Model Approver the status of the Stages changes to be Completed The Analyst has to submit the Model to Model Approver for approval Once submitted the status is changed to Pending Approval After approval the Model is changed to In Use status To link Stages to a Model which is in In Development status from the Model Management window follow these steps 1 Click the Model ID of a Model to which you want to link Stages Note Ensure that the Model definition you have selected is in In Development status The Model Management Details window is displayed By default the Definition tab with the basic Model definition details are displayed 2 Click Stages tab The Stages tab is enabled The Stages tab displays the Model ID Model Name Status Version Model Owner and BU Head details 3 Click Link Stages button from the Stages grid The Stages window is displayed The Stages window lists all the available Stages 4 Select a Stage by clicking the check box adjacent to the required Stage s and clicking Link button The selected Stages are linked to
26. Status Due Date Overdue By Description Displays the unique ID to identify the task Displays the Task name Displays the name of the entity This entity can be Model Usage Issue Action Stage or Change Log Displays the current status of the entity Displays the date on which the task is due to be completed Displays the number of days for which the task is pending after its due date Inbox 3 1 Overview Table 3 1 Tab Description Received On Displays the date on which the task has been received Completed Tasks are listed with following details Table 3 2 Tab Description Task ID The unique ID to identify the task Name Displays the Task name Entity Name Displays the name of the entity This entity can be Model Usage Issue or Action Entity Status Displays the current status of the entity Received On Displays the date on which the task was received Completed On Displays the date on which the task was completed Completed By Displays the user name who has completed the task Notifications are listed with following details Table 3 3 Tab Description Task ID The unique ID to identify the Notification Name Displays the Notification name Entity Name Displays the name of the entity This entity can be Model Usage Issue or Action Entity Status Displays the current status of the entity Received On Displays the date on which the notification has been received Due Date Displays the
27. Summary tool bar to Edit the mapping details Click Delete button in the Mappings Summary tool bar to Delete the mapping details 6 7 2 Excel Upload Excel Upload helps you to upload Excel Data to destination table in the database Excel Upload supports excel files created in Microsoft 2007 and earlier versions along with the option to map and upload multiple sheets created within a single excel file You need to ensure that the excel data contains the dates in the format as defined in Add Excel Entity Mapping definition To upload excel data in the Excel Upload screen 6 18 Oracle Financial Services Model Risk Managemet Document Upload 1 Click Browse in the Excel File to Upload grid The Choose File to Upload dialog box is displayed 2 Select the required Excel and click Preview button The columns in excel are populated in the Sheet drop down list and the Preview grid displays the data of the selected excel file 3 Click Browse in the Excel Entity Mappings grid The Mapping Selector dialog box is displayed with the pre defined mapping details 4 Select the check box adjacent to the required mapping definition and click OK 5 Click Upload A confirmation dialog is displayed on successful upload and the excel data is uploaded to the database table 6 8 User Interface Language Manager The User Interface Language Manager section allows you to maintain the labels of screens fields containers and messages in multiple
28. Task Schedule provides you the percentage of the number of validations scheduled in different quarters m Model Validations Task Schdule be J Timerun 8 28 2013 11 44 25 AM E Jan Mar E Juty Sep Oct Dec 50 00 No of Validations Scheduled Refresh Print Export 7 2 3 5 Model Validation Heat Map Model Validation heat map provides you a detailed view of Models with validation ratings This report tabulates the validation details with details such as Model ID 7 8 Oracle Financial Services Model Risk Managemet Reports Model Name Version Business Line Category Criticality Tier Validation Type Validation Rating and Validated Date t Model Validation Heat Map Time run 0 5 2013 4 29 46 PM Model IDA Modei Name Vergor Anares Lre Category Criscalty Ter Vakdaton Type Vakdiabon Ratno Vabdleted Date Ord Chid Model 1 Wholetale Barking Credit Rik Very Low Corral 7 4 20 13 8 43 45 PM 7 4 2013 8 53 38 PM MODELO 1 PO Model for North American Obligors 1 0 Wholesale Barking Credit Rink High Ter One Ful Scope Review 7 18 2013 3 02 58 PM Quantitative Performance Monitoring 7 18 2013 3 37 00 PM 8 5 2013 90 40 56 AM 8 5 2013 1 09 59 PM 7 2 2013 1 44 57 PM 7 9 20 13 5 37 29 PM 2 2 2013 2 11 52 PM 6 28 2013 12007 AM 5 27 2013 7 28 24 PM 3 1 2013 3 41 56 PM 5 27 2013 12 17 30 PM 6 27 2013 12 10 54 PM TITFTT TrTTTT 111 Wholesale Larang Market Rak Medium Tier One Dad Testng 1 19 2013 12 13 51 PM 1 19 2013 12 20 31 PM 1 19 2
29. Tasks tab of the Inbox window you can reassign a task to another user by performing the following steps 1 To select the task you want to reassign to a user select the check box adjacent to the Task ID 2 Click Reassign button The Re assign Task window is displayed E Re assign Task Windows Internet Explorer Business Line reasu Category Credit Risk Role Mod Risk Grp Supervisor Re Assign To Tom Harely Submit Back Local intranet Protected Mode Off 3 Enter the details in Re assign Task window tabulated as follows Table 3 5 Field Description Field s marked in asterisks are mandatory Business Line Displays the Business Line to which the Task has been localized Category Displays the Category to which the selected Task has been localized Role Displays the role for which the re assignment is to be done Re Assign To Select the user name to whom the re assignment is to be done form the user list in the Hierarchy Browser window by clicking Browse button 4 Click Submit The task is re assigned to the selected user and the entity associated with the re assigned task has been moved to the re assigned user s name Inbox 3 3 Reassign Task Once reassigned the entity moves from Open Tasks tab to Reassigned Tasks tab Note To reassign a Task you have to update it at the record level The reassign functionality will work only if the Tasks are defined for user roles and no
30. and listed under List grid Note An expired node will not be available for creation of new records However the node will be available for previously created records An updated node will be available for all the records on which the node is used with the updated details An expired node can be revived by modifying the End Date 6 4 Preferences The Preferences section allows you to set and manage the email notification configurations You can access the Preferences section by navigating to Admin gt Preferences from the OFSMRM Home screen The Preferences window is displayed with General tab enabled Under the General tab you can configure the Email Notification settings as follows Admin 6 3 Application Preference Select the Email option from the drop down list The available options are No Email No email will be generated Email Digest Provides you all the emails generated for you in a package at the end of the day All Email Email is sent as it is generated Select the Attach Profile Reports option either as Yes or as No from the drop down list The option is enabled only if you have selected All Email option in the Email field Click Save button The selected preferences are saved and this will be used in all instances where Send Email option is present 6 5 Application Preference The Application Preference section allows you to predefine the functionalities of general workflow i
31. date field Select First Row is the Header check box if the first row in the Excel has headings Select the mapping database table by clicking on the symbol or table name Click Automap The respective columns with the similar names in the excel and database is mapped You need to manually map the other columns The mapping details are displayed in the Mapping Information grid which facilitates you to edit the details as required Select Save with Authorization check box to authorize and upload the data The 3 mandatory fields i e Maker_id System_Date and Authorization_Status are displayed in the Select Excel Columns grid Optional Select Bulk Authorization check box to assign the Excel_Name across the selected column For example the selected column v_fic_description will have the Excel Name assigned Note Ensure that the selected Varchar2 column contains the required length to hold the Excel Name In order to select Bulk Authorization you need to have Save with Authorization check box selected Select Save Mapping The Excel Entity Mapping screen displays the excel database table mapping details Mapping helps the further upload of data in the specified format and it does not require the user to map the entities again In the Excel Entity Mappings window you can also do the following Click View button in the Mappings Summary tool bar to View the mapping details Click Edit button in the Mappings
32. default the currently used password is checked for validity if password history is not set New password should be different from previously used passwords based on the password history which can be configured If you encounter any of the following problems contact the System Administrator Your user ID and password are not recognized a Your user ID has been disabled 1 4 Oracle Financial Services Model Risk Managemet Home 2 1 Overview The Home window is the landing screen of OFSMRM This window provides you an option to view few major reports latest announcements and notifications and tasks assigned to you There are two different basic views present depending on the user roles If you are an Admin user your Home window is as follows WA Model Risk Management Windows Internet Explorer ORACLE Model Risk Management A AA isma inhoa Madal Management EEES Aamin Dashboard View Reports High Risk Models and Usage t Tasks amp Notifications We Reports Salus of Model amp Uissges r Tire run Af 29 2003 Gobbi AM t High Risk Models Model Status 100 A E Ty fasta t Trre runs 4 29 1013 5 06 09 AM 100 l a 14 1 Bede Diesel peel p 10 Comi Lindel liga ge Cie bypranj z Mo a 4 Models E Hage z i lil 4 Mde ra rn ze a i 5 FU Se coe TT E itr Tf Pa TE T E ry E da AT A a E 3 y 3 n 3 4 bh a it ae la ae oe a ae gut kat EE Fee FEE pE E bepse E E g
33. herdi J mirria G Mirri 0 Heti D Beri G Meria 2 Herni 2 Berdi G Mirri G Mirri D Heti merki Dashboard 7 11 Reports 7 2 3 7 High Risk Usage This report provides you an insight to the number of Usages which are at risk among different Business Lines and Categories You can choose to view the number of high risk Usage either in various Business Lines or in different Categories High Risk Usage vi Time run 8 5 2013 4 29 46 PM View by Business Line sa 120 100 30 60 40 20 0 00 ao o lt UE L g p w ar DU co ve E pu ou cP S PE D 5 Dm wm oc oe Em p Se 2c zu a E aa 233 Em co li or iz o p 5e Zo o SE 5 52 2 Es Ez Business Line Refresh Print Export Wholesale Banking Division Count of E Usage High Risk E Usage Wholesale Finance You can also click any of the bar graph item to view the details of the High Risk Usage in that Business Line or Category 7 2 3 8 Usage by Regulation Usage by Regulation report provides you a detailed view of the number of Usage under different regulatories in a Business Line You can choose to view the number of Usage either in various Business Lines or in different Categories from the View by drop down list Usage by Regulation be Time run 9 3 2013 2 19 05 PM View by Business Line A Count of Usages on gt T z J DO vas amp a SHE paag Z0 mza W 5 3D o gt 2 D a a y J0 E T Business
34. list is exported and is saved in the spreadsheet A 3 View Profile Reports The profile report of a definition provides all the details associated with the particular definition From the definition details window you can view and download the definition details in PDF format To view and download the definition details in a PDF follow these steps 1 Select the check box adjacent to the definition of which you want to view and download the details in PDF 2 Click the Profile button above the Details tab The File Download window is displayed 3 Click Open Save to open t and view the file or save the file on your local computer This PDF contains all the details associated with the definition References A 3 Hierarchy Browser A 4 Hierarchy Browser The Hierarchy Browser window displays an entire node of hierarchical items including root parent and child nodes This facilitates you to drill through the hierarchy and select a specific item to be used for processing Hierarchy Browser Windows Internet Explorer Sets Business Line Treasury Wholesale Banking OK Cancel You can use the hierarchical member code name or node name to search for a specific member In the Hierarchy Browser window you can also perform the following actions Click Expand All button to expand all the branches Click Expand Branch button to expand a selected branch Click Collapse Branch button to collaps
35. notification to be sent Frequency Select the validation frequency from the drop down list The available values are Monthly Quarterly Half Yearly Yearly Validation End Date Select the end date of validation from the Calendar 5 Click Save The validation is saved Model Management 4 43 Components of Model Management Once the validation is scheduled the Validators and Questionnaire grids are enabled in the Model Validation window 6 Add validators by clicking Link button in the Validators grid and selecting the user from the Hierarchy Browser window You can also select the check box adjacent to a Validator and click Delink to remove the selected validator 7 Select the Questionnaires by clicking Link button in the Questionnaire grid The Link Questionnaire window is displayed You can search for a particular Questionnaire by providing the Questionnaire ID Questionnaire Name Created From or Created To details For more information refer to Search and Filter section For more information regarding Questiomnaires refer to Questionnaire section from the Admin module 8 Select the check box adjacent toe the Questionnaire ID 9 Click Link The selected Questionnaire is displayed under Questionnaire grid of Model Validation window You can also select the check box adjacent to an ID and click Delink to remove the selected Questionnaire 10 Click Back button The Usage validation is s
36. ran dadaon ieee bla tts 4 35 Create lud ai 4 36 Usage Details Manasenetta a 4 36 Retreat 4 48 Romstar Us re idos 4 48 Delete Sastre 4 49 5 Issues and Actions OVERVIEW A O A r sesuse 5 1 User Roles and Actions 0000 A aia leben 5 1 Tasks and Nottications 1m ISSUICS sna Atienden aT A E T 5 1 TASKS TANI NO PLE CA tons In ACHOS 05 a S T inis 5 2 Access ISSUES Ce A CUO S A ea ae ee cae weiss 5 3 Components of Issues and Acti0NS oooonocnnononocononononanononononanonanonnncnn conan cano nan or no nano nn nonn nono non nonanananinnnns 5 3 ESA A 5 3 Croate a daa aeetme nas 5 4 VIEW Issue Delito Deta leisson a 5 8 Ed DE A ao 5 8 Transter Issue Owners Di Pia 5 8 closc ASSIS aaner T a a emo ees 5 9 Reopen Closed Issue A Sa tos 5 9 Issue Details Manat e nea iia 5 9 Pelee lisas 5 14 ACOD ene eee RCO A me TEER Ee Te Ree Oe ee em 5 15 View Action Detiution Detalla si n 5 16 Bit A ChOM Delito 5 16 Transier ACHO OWNerS AI ois os corse E la 5 17 Force Cl os re f an ACH OM ii ias 5 17 Reopen Closed cuidada la 5 17 ACTION Details Mana Sent si 5 18 6 Admin OACI WS esd aes 6 1 ACCESS ACUM str See a ic s 6 1 Reference Data Management A A A A o dd badea din S 6 2 Create New NOd east ii 6 3 Preferences td e le dede 6 3 Application Preference si A eee eee ee 6 4 Work a is A E E O 6 4 Create Worl OWN 6 5 COPY WoOrkiOWetnisansna nante al ft so ES 6 6 Deactivate Work Wena iii 6 7 Worktlow Details Ma as eme 6 7 Create Work IOW
37. source function for which the Issue is being created Issues and Actions 5 11 Components of Issues and Actions Table 5 6 Cont Field Description Business Line Click the Browse button and select the Business Line from the Hierarchy Browser window Category Click the Browse button and select the category of the Action from the Hierarchy Browser window Comments Enter any other information related to the Action 2 You have the following options to save an Action definition a Click Save Draft button The Action definition is saved and the details are displayed in Action Details window The status of a saved Action changes to Draft a Click Submit button The Action definition is saved and is submitted to the Action Owner for taking further actions The Action definition details are displayed in Action Details window 5 Tem Heey Thursday Ageet 20 2012 3 Action Detail Window memet Explorer ORACLE Model Risk Management Horne bik Mode Management suc E Achons Admin Dashboard Haig fret a Action Deisis aj Lar ReminderidapsT 30 Progress Estimated Cost Component Mods Primary Soros Facies ld Network and Addis or Sales Category ES View More pr i Local irene Peebected Med CHF i S108 F The status of a saved Action changes to Open 9 4 1 7 2 Link Action Actions are required to resolve every Issue The Actions that are necessary to resolve a particular Issue can be lin
38. tas usa 6 7 FVV OTK TONT n A A E ts see auesl suas sntaaaieee ety canton eosasueurae 6 9 Map Routine Rules usina 6 9 Create NouNCaNONS areke A di 6 10 Create Task iia lidia 6 12 Issuestan d AchoOns COMMO UT AMON ias is 6 14 Access RIO td iaa 6 14 Users Prot le Maintenance Ai Aena 6 14 Create User Groups sitial aso 6 15 Map Access Salt 6 15 Delete User Eros 6 16 User Erotle Mapp NE sE NI 6 16 Map User Groups to the Users id do 6 16 Delete User Group Map an a OO 6 17 ECSU distal dodo 6 17 ExcelEntity Mappi s cn ia 6 17 Add EXCele Bitty Mappihg S ni 6 17 Excel UP iii A 6 18 User Interface Language Manager ni Ai Ala 6 19 Document Up ad trono t ario 6 19 Attachi DOCUNEES AS acta A 6 20 Ed DOCUMEN eron clio iia 6 20 Delete Documents iaa Ao 6 21 O 6 21 Qwest ons IN dad ad e ata 6 21 Create OUEN ia 6 22 Copy QUESO il 6 24 Question Details Mana OS eee areca 6 24 Delete CU SSTION unas iaa rr 6 25 Questionnaire LibratYianias das 6 26 Crede Oues honnai eerren n idas 6 26 Copy Queso Ie syrra E E did 6 27 Questionnaire Details Mana eme E 6 27 Delete Cuestion did 6 30 7 Dashboard O in e E a o a O a la 7 1 PROCES Di d eraa i 7 1 REPOS non O O a O 7 1 Executive Dashboard ira R S N R 7 1 Aging OF Model SES O A 7 2 ALINE OF USA STS SSS AAA 7 2 Addtonal EDO Sisa 7 3 SU ACOSO SS E one eat ele sea aac aetna cea Gaeta anes 7 3 Ssues across Cate Viatri 7 4 ACHONS across Caida 7 4 Issues across DUSINGSS LINES alte lina elias
39. text that you enter vill 1 Model Risk Management 1 1 Overview The Oracle Financial Services Model Risk Management OFSMRM enables financial institutions to record all activities related to Model Development Customization and Implementation Process and identify and regularize validations in order to evaluate and assess performance and risk associated with the Models Many organizations use Models to ensure smooth running of their day to day activities Financial institutions rely on financial or economic Models for various activities such as risk management valuation and financial or regulatory reporting According to the Federal Reserve System a Model is a quantitative method system or approach that applies statistical economic financial or mathematical theories techniques and assumptions to process input data into quantitative estimates Some of the areas where Models are used extensively are Business planning and forecasting Product development underwriting and pricing a Client advice and asset management Investment decision support and monitoring a Valuation of assets and liabilities Asset and liability management Risk management catastrophe market credit operational liquidity and so on Model risk is the risk of financial loss poor decision making or damage to company s reputation These risks arises due to Incorrect Model inputs or assumptions Erroneous implementati
40. the Access Rights grid The Map Groups to User window is displayed 6 16 Oracle Financial Services Model Risk Managemet Excel Upload In the Map Groups to User window you can search for a specific group or a set of groups using the Group Code Group Name Description Business Line or Category parameters 3 Select the check boxes adjacent to the Group Codes of the user groups which you want to map with the Users 4 Click Map Groups button The selected user groups are mapped to the user and are displayed under the User Group Mapping grid of the User Profile Mapping window You can view the access rights mapped to the user group by selecting the check box adjacent to the User Group Code of the User Group you have mapped The access codes are displayed under Access Rights grid 6 6 2 2 Delete User Group Mapping You can delete a user group mapping from the User Profile Mapping window and thereby unmap the group from a user To delete and unmap a user group from the User Profile Mapping window follow these steps 1 Select the check box adjacent to the User Group Code from the User Group Mapping erid 2 Click Delete Group button 3 Click OK in the confirmation dialog box The user group mapping is deleted from the user Deleting a mapping removes the associated roles from the user 6 7 Excel Upload Excel Upload utility facilitates you to upload excel data sheets to specific destination table and map the t
41. the Link Usage button The Upstream Usage window is displayed In the Upstream Usage window you can search for a set of Models using the Usage ID Usage Name Version Business Line Category and Usage Owner details For more information refer to Search and Filter section Select the required Models by selecting the check box adjacent to the Usage ID s and clicking the Link button The selected Models are listed under Upstream Models grid with the Usage ID Name Version Business Line Category Status and Criticality details You can also Delink a selected Usage by clicking the Delink button and clicking OK in the confirmation dialog box 4 5 2 9 2 Define Output Details Output section in Usage Management Details window fetch the intended use and Usage downstream details of a Usage definition To link the Usage output details from the Usage Management window follow these steps 1 Click the Usage ID of a Model to which you want to provide Output and Intended Use and downstream Usage details The Usage Management Details window is displayed By default the Definition tab with the basic Usage definition details are displayed Expand the View More section by clicking the button Further expand the Output section by clicking the button Link the Usage Output and Intended Use by clicking the Link button and selecting the source members from the Hierarchy Browser window The selected members are displayed under Intended U
42. to retire an announcement from the Home window click X button adjacent to an Announcement title A confirmation dialog is displayed Click OK The Announcement is removed from the Home window Home 2 3 Home Window 2 4 Oracle Financial Services Model Risk Managemet 3 1 Overview This chapter explains the components of the Inbox window All tasks and notifications received are available in the Inbox Inbox by default displays the Open Tasks tab This window has other tabs such as Completed Tasks Notifications and Reassigned Tasks Pol Ibo Windows Internet Explorer Inbox ORACLE Model Risk Management Hema Inbox Modal Managemant El Search a Clear Open Tasks hamen A Actions Aamin CH Ge E pon Tasks 136 Reasaign 12 Urrerrap Task ID Diari ti 212431560 pizz DI24ITAZ BUZATTTE piz EPS RY Kame Reopen Validation Model Validation mopen Requed aidaion Model Valdabon Requesd Validation Model Validation Reques Aphia Pending Approval of Sta Raqueri Validation Usage Validation Reassigned Validation Usage validation re lesu denied Mew issued assegred fo you Issue denied Mia issued a44 90ed bo you Rajaced sage Rejected far Rework lepua Heniied Hew ikeued assigned io you Request Vaidation Usage Validation Reques Vaidaion Usage Validabon Requesa Validation Usage Validation Requerd validation Usage Validation Raqueri Valeabon Usage Validation Rejecied M
43. trademarks or registered trademarks of SPARC International Inc AMD Opteron the AMD logo and the AMD Opteron logo are trademarks or registered trademarks of Advanced Micro Devices UNIX is a registered trademark of The Open Group This software or hardware and documentation may provide access to or information on content products and services from third parties Oracle Corporation and its affiliates are not responsible for and expressly disclaim all warranties of any kind with respect to third party content products and services Oracle Corporation and its affiliates will not be responsible for any loss costs or damages incurred due to your access to or use of third party content products or services o e ET E EEA AE E AE EA EEA ET EEA AEN SET E AENT EESE A vii Lo A A A Een Sn ene TPo vii Documentation Access osier E amiueduiaa inane munud eaguaalamion simi vii Related DOCUMENTS it taa vii CONVENIOS cne a O a vertu biad dined aia Meise ee vides aden ide haadunansemanaenten viii 1 Model Risk Management OVA a E a O A 1 1 Components o OESMRM sesana a aa O E E N N 1 2 A OPS MR AAA a a II O O A AN 1 2 OESMEM EOS else neat Uae sega hese ae one nna dante aa ae ancn omens 1 3 2 Home RS 2 1 Homne Window eee nC Myke ene r nee ee Poo enn en See nen tees mee E a RN ree en ee a eee 2 2 High Risk Models and Us A AS 2 2 Issues E Actions tor Models a 2 2 Models Usage by Business Lei vate E sees 2 3 Dracus Ol Models and Usao Sienan a 2 3 AO
44. y ES E 2 572 2 Ex E 5 PF E a d E E Status Return Edit Refresh Print Export Create Bookmark Link 7 2 2 Issue amp Actions The following reports are available as part of Issue amp Actions dashboard Issues across Category Actions across Category Issues across Business Lines Actions across Business Lines Aging of Issues Dashboard 7 3 Reports Aging of Actions 7 2 2 1 Issues across Category Issues across Category provides you a detailed view of Issues across different categories This report plots the number of Issues and Issue Cost for different categories such as Credit Risk Liquidity Risk and Market Risk Issues across Category EN Time run 8 28 2013 10 07 54 AM _E_6 lt _ E gt lt A Credit Risk Liquidity Risk Market Risk E issue Cost m Count of Issues Refresh Print Export 7 2 2 2 Actions across Category Actions across Category provides you a detailed view of Actions across different categories This report plots the number of Actions and Action Cost for different categories such as Credit Risk and Liquidity Risk Actions across Category A Time run 8 28 2013 10 07 54 AM 5 600 R 500 i la 400 300 z E 200 2 E 100 a Credit Risk Liquidity Risk BB Action Cost Count of Actions Refresh Print Export 7 4 Oracle Financial Services Model Risk Managemet Reports 7 2 2 3 Issues across Business Lines Issues acr
45. 013 12 21 37 PM 1 19 2013 12 23 17 PM Vaki22 Vahd32 1 Wholetale Barking Credit Rink Very Low Back Testing 7 2 2013 2 12 36 PM 7 2 2013 1 44 57 PM Refresh Print Expors MODELOS Revenue Infaben 10 Network and Advisory Sales Credit Risk Low Ter Two Evelueton of Conceptual Soundress MOOVAL Model Veideton 1 Wholesale Banking Credt Risk Very Low Ter Two Ongoing Monitoring SOOLI SPOL 1 Wholesale Banking Market Risk Very Low Ter One Ongoing Monitoring 7 2 3 6 Additional Reports The following additional reports are part of Models tab of Models amp Usage dashboard 7 2 3 6 1 Model Status Report Model Status Report provides you the number of Models present in different statuses Model by Status WoO Time run 8 28 2013 11 46 29 AM CountofiModels O 2 FI 605 da En on T 2 cp Pe pe go fe E ES Y 5 2 3 55 ES 8 ge p se s E 8 98 8 58 y Be 2 57 2 Ez E D m 2 a g 5 Cc a status Return Edit Refresh Print Export 7 2 3 6 2 Overdue Model Issues Overdue Model Issues report provides you the details of Models Issues which are overdue Overdue Model Issues we Time run 8 28 2013 11 47 45 AM Model ID W ersion Model Name Business Line Category Model Owner BU Head Target Completion Date NEW i NEW ABCUSA CreditRisk Model Owner BU Head 81244067 model test issue Return Edit Refresh Print Export Dashboard 7 9 Reports 7 2 3 6 3 Overdue Model Actions
46. 13 Reports Usage Name Version Business Line Category Criticality Tier Validation Type Validation Rating and Validated Date t Usage Validation Heat Map Time run B 28 2013 11 30 98 AM Logo Icasegory recair Ter valdison Type ALPES Leag lor tering buj ODI Newark and Achiary Salet Liquecity Bick Ter Tres Evaluation of Corceptial Scere Sree vakdarson Rating waldared Dase ADEA 8 23 2013 3 03 02 PM Result AEN20L3 2 28028 pm 42017 2 40 30 PM ALDO Li coy Prrvate arica Credi Biik Ter Fo Fvakabon of Conceptual boure re LO Ll ATAOI 2 54 15 PH 8 25 2013 2 55 11 PM Ongoing Monitoring Aj 2017 2 56 47 P A th The Private Baring Eredi Bak Wery Ler Ter Tres uice Araha Remit kage Uoo ope Whana Barking Eredit Bink Medan Ter Teror Slack Testing Corral Outcome Araba 7 2 3 12 Additional Reports 4 2 2017 2 56 57 PM NAIEN BAS Leesa PM o AZAL tk PM ATL 13 31 13 ha 8 26 2013 11 4400 AM 8 26 2013 11 44 00 AM A 26 2013 1144000 AM The following additional reports are part of Usage tab of Models amp Usage dashboard 7 2 3 12 1 Usage Status Report Usage Status Report provides you the number of Usage present in different statuses Usage by Status i Time run 8 28 2013 11 13 46 AM 45 40 3 5 3 0 25 2 0 1 5 1 0 0 5 0 0 Count of Usage In Development F a In Le Pending Approval Rework Retired Return Edit Refresh Print Export
47. 2 4 Delete Questionnaire You can delete the details of a Questionnaire which is in Draft status from the Questionnaire Library window To delete the definition details of a Questionnaire from the Questionnaire Library window follow these steps 1 Select the check box adjacent to the Questionnaire ID of the Questionnaire definition which you want to remove 2 Click Delete Questionnaire button 3 Click OK in the confirmation dialog box The Questionnaire definition details are deleted and removed from the Questionnaires grid 6 30 Oracle Financial Services Model Risk Managemet l Dashboard 7 1 Overview The dashboard of OFSMRM integrates the results generated by the OFSMRM application with Oracle Business Intelligence OBI giving users the ability to perform queries on OFSMRM components This ability enables the user to access seeded reports and dashboards and to quickly develop new reports on a wide variety of information Standard reports and dashboards are part of the installation of OFSMRM You can implement these reports as they are available or modify them to the specifications of your users Within minutes you can access valuable information such as High Risk Models and Usages Model Validation Rating analysis Aging of Model Issues Heat map of components and so on This chapter describes the available OFSMRM reports 7 1 1 Access Dashboard You can access Dashboards from the OFSMRM home page by clicking Dashb
48. 3 03 PM Outcome Analysis Monthly 81233233 Adhoc 8 25 2013 3 34 04PM _ f g 7 i Schedule 8 25 20 13 3 33 03 PM Im123 3123 For Validation check better not touch Model Owner BU Head Private Banking Credit Risk Control Monthly 81229855 Adhoc 8 25 2013 11 58 39 AM B 8 25 2013 1 07 31 PM Schedule 8 25 2013 11 58 21 AM Return Edit Refresh Print Export 7 2 3 6 6 Overdue Model Change Log Overdue Model Change Log report provides you the details of Models Change Log which are overdue Overdue Model Change Log Time run 8 28 2013 11 51 53 AM aE al Model ID Version fs Model Name _ _ Model Owner BU Head Business Line Category _ Change Log ID Change Name _ Change Source Owner _ Created by Closed By Closed On Due Date _ 2 0 2 0 credit risk model for change log _ Model Owner BU Head ABC USA Credit Risk 81230053 test change Internal IMOWN MRGA MRGA 24 Aug 13 13 0 3 0 Thisis for testing the MRM This is for testing th Model Owner BU Head ABC USA MarketRisk 81239231 changed Internal MRGS MOWN MOWN 26 Aug 13 81239704 hnhg Internal MRGA__ MOWN mown 27 Aug 13 81239711 fe External IMOWN MOWN MOWN 26 Aug 13 avDL006 002 Model Model Owner BU Head Wholesale Banking Market Risk 81244181 new change log Internal MRGA QAUSER QAUSER _ _ 25 Aug 13 81244273 tester Internal IMOWN QA
49. 4 F 2 Chater Tom Harely ow y Primary Soeroe Lage a Be Caiagony Market Fisk ue EL Local mirant Peobecked Mode HI a Se The default status of an Issue under creation is New 2 Populate the form details as tabulated below Table 5 5 Field Description The fields marked in asterisks are mandatory Name ID Description Issue Category Cause Category Enter the name of the Issue This field is alphanumeric and the maximum allowed characters are 300 Displays the sequential tracking number assigned to the Issue This field is not editable Enter a brief description about the Issue The Maximum number of characters allowed in this field are 3000 Select the classification of the Issue from the drop down list The available values are External Others Design Deficiency Human Resources a Finance Administration a Security Non Compliance Accounting Control Authorization a Data Privacy Select the reason for occurrence of the Issue by clicking the browse button and selecting from the Hierarchy Browser window Issues and Actions 5 5 Components of Issues and Actions Table 5 5 Cont Field Description Criticality Select the criticality from the drop down list This determines the level of importance to be given towards the mitigation of this Issue The available values are Low Medium High Priority Select the Priority from the drop down li
50. 4324 testing action linkage tab 31 Aug 13 o 181320273 ccd ccd Wholesale Banking Market Risk Owner Black Hanes 81324187 werwer lt 31 Aug 13 0 ly A EPA a PARC 81324222 as34efidasf 31 Aug 13 o 181323483 1 REINST Network and Advisory Sales Credit Risk Mark Owens Black Hanes 31318103 testing action workflow 00236 30 Aug 13 1 o 81318151 testing action wf bug fix 30 Aug 13 0 81318196 testign action workflow bugs 31 Aug 13 0 Return Edit Refresh Print Export 7 2 3 12 4 Overdue Usage Attestations Overdue Usage Attestations report provides you the details of Usage Attestations which are overdue Overdue Usage Attestations PUE Time run 8 28 2013 12 00 26 PM Criticality Category __ Attestation 1D 4U5G001 Usage for testing bugs Model Owner Network and Advisory Sales Liquidity Risk 81231602 Return Edit Refresh Print Export 7 2 3 12 5 Overdue Usage Validations Overdue Usage Validations report provides you the details of Usage Validations which are overdue t gt Overdue Usage Validations EF Time run S202013 13 00 44 PM see 10 verson Usage Mame Usage Diner OU read Business Line Category Walton Tepe vaasan Frequency Vakdaton ID vabdator Walia Son Source Duedste TERMI 001 Lage lor bathing bue Miia Sherer AU Head He brwork and Adbhror y Sala Lipadily Rick Fusion ol Conceptual Soiree Hall Yearly 321231257 Tom Hlarely fiar A 77 7043 3 05 09 Pt Schedule MAJO 23 PM Real Manthly
51. 8 2013 12 04 11 PM T Usage IDV Version Usage Name Usage Owner Stage ID Stage Name Stage Owner Stage Approver Pending From 81234421 3 0 This is for testing the MRM This is for testing th Model Owner 31233211 Testing Application ML SAPP 18 26 2013 12 00 00 AM Return Edit Refresh Print Export Dashboard 7 15 Reports 7 2 3 12 8 Usage Details Usage Details report provides you then details of all the Usage available ho Ves Details me nunc ANOS 1200525 PH jua TO Lege Hinta Vapor hanan Lire Category Model I Las Dara qu Crscadep Tier ii a Sia clan mern bla tar Vabciaies Cin aria Lage ee el re recia LO AL LA Mirto Hs m1 Model eter A ey Loe Te Pour A Perra era MITA a weti Herd ora MA aad d Shes ial hii y E E apra Model Geter Bu A oer et 1 an Me ie Ses Fant hi Tret Tiii dl for cir Pre LA Tha i hee Ab A LEA Airtel A AROS Modo re PU Wey Loa Ter Teo HS prnl Mei inig E vien Th ip dr e He MAH Tha i or ag AS LEA Maret Fock 4401000 Model Dare Mi low Te Te Ha seran ita Appr Sg rac mir E ie Jr aF AE LA Market Flake 10 Model Dara DU Tier oa rakiy or Maru Heri Tret LUGO pe dor ering aag DEL Meteors and khas Liaquachiy mid Model Qarar Gi Ter oa Pearly Sending Eire Aap taal i A 3 Mare a a Heri Tree m ht rriki Meta TH Parti 404301 met Fi AND Eee Mera Fi A Thiet i scars AS LEA Haket Fock 4401000 Meron Wi e Fo oe HIN Mano Der Heed EA El Erma Panda JtAsk mi Model Garer Gi F H Mera Fri
52. Actions 5 1 Overview The Issues and Actions module is an integral part of the OFSMRM solution An Issue can be defined as a problem statement and Actions are plans or activities taken up to resolve those Issues Organizations may need to identify and track Issues whenever there is an alarming situation such as when an incident is reported Key Indicators KIs are breached risk is assessed as high control is assessed as ineffective regulation is breached and so on Action plans aim at estimating the cost involved in addressing Issues If the cost of taking up the Action is more than the risk involved in the Issue an organization can choose to close the Issues without any Actions 5 2 User Roles and Actions Different Actions that can be performed on Issues Actions are dependent on the roles assigned to each of the users The following table describes the Actions that can be performed by various users in the Issue Action development workflow Table 5 1 User Role Actions Issue Creator Creating Issue Editing Issue Deleting Issue Closing Issue and Reopening Issue Issue Owner Action Creating Action Editing Issue Transferring Ownership and Creator Deleting Action Action Owner Editing Action and Transferring Ownership Note Allthe Actions performed on Issues and Actions are user based and users particular to each record only can be entitled to perform those Actions 5 2 1 Tasks and Notifications in Issue
53. Corral MA 217 11400 AM DOutorre Anaya 8 55 5013 11 400 AM Bebesh Pint Export 7 2 4 3 Validator Occupancy Report Validator Occupancy Report provides you the number of Models and Usages assigned to each of the users with Validator role in the applications Validator occupancy Report Time run 8 28 2013 12 05 01 PM I Model I Usage Model Validator Tom Harely Validator Refresh Print Export Dashboard 7 17 Reports 7 18 Oracle Financial Services Model Risk Managemet A References A 1 Workspace Options The workspace option consists of the various elements available in the user interface to help you in selecting an option or to navigate to a specific location on the page The available workspace options are discussed in detail A 1 1 Search and Filter Model E Search R Advanc The Search and Filter option in the user interface helps you to find the required information You can enter the nearest matching keywords to search and filter the results by entering information in the additional fields OFSMRM provides you an option to search and find information in the following ways Basic Search Advanced Search Views A 1 1 1 Basic Search This is the default search option in any of the OFSMRM modules This search is based on limited set of search parameters and helps you to retrieve the relevant details Example A 1 Basic Search If you are in Model Management window and need t
54. Credit Risk _ Mark Owens Black Hanes 81318071 issue workflow testing 001 Open 31 Aug 13 Return Edit Refresh Print Export 7 14 Oracle Financial Services Model Risk Managemet Reports 7 2 3 12 3 Overdue Usage Actions Overdue Usage Actions report provides you the details of Usage Actions which are overdue Y Overdue Usage Actions YA Time run 9 3 2013 2 25 56 PM Usage ID Version Usage Name Business Line Category Usage Owner BUHead Action Id Action Name Target V No of Issues Linked 42 0 Barrier Option Network and Advisory Sales Credit Risk 81262778 Modelre calibrated 10 Jul 13 __0O O PE O EE S e 81318103 testing action workflow 00236 30 Aug 13 o 81247710 1 Validation Wholesale Banking Credit Risk Mark Owens Black Hanes 81223855 testing action for reopen 003 16 Jul 13 o 81224735 Action Created to test reopen 003 25 Jun 13 0 81224847 wqefsadgtfrwet 18 Jun 13 0 81225343 testssdfasdfg 18 Jun 13 0 81225790 Action created to test WF dose 26 Jun 13 0 181258671 1 0 PD Model for Corporate Finance Wholesale Banking Division Credit Risk Mark Owens Black Hanes 81262778 Model re calibrated 10 Jul 13 0 181272491 1 REJ Wholesale Banking Market Risk Mark Owens Black Hanes 81322221 testing action workflow 31 Aug 13 0 81319815 ERRIC ERRIC Network and Advisory Sales Liquidity Risk Owner Black Hanes 8132
55. General Single Level 6 2 Oracle Financial Services Model Risk Managemet Preferences You can click the Code adjacent to each Name of the reference data elements to view the list of nodes in that particular element You can also create new nodes for a selected reference data element 6 3 1 Create New Node To create a new node for a reference data element from the Reference Data window follow these steps 1 Click the Code of the Reference Data element for which you want to create a node The Reference Data Management Details window is displayed 2 Click Add New Node button from the Action List grid The Details and Locale grids are enabled 3 Populate the data in Details grid as tabulated below Table 6 2 Field Description The field s marked in asterisks are mandatory Description Enter the description for the new reference data management element The maximum allowed characters in this field are 3000 Start Date Select the start date of the element from the Calendar End Date Select the end date of the element from the Calendar After this date the node will not be available for use 4 Select the required locale s by selecting the check box adjacent to the available locale names You can also select all the available locales by selecting the check box adjacent to the Locale tab 5 Enter the Name of the new Node under the Name tab of the Locale grid 6 Click Save button The new node is created
56. Lise HIII anes Mani Head E Aia mE aM 1 Beau Aa a met Fi 013 593 Mate SED li Lie All mA Mare pul D indium AN ERE Mare PH 1 H ANA a Mate pe 7 2 4 Validations The Validations dashboard provides you the following reports Model Validation Heat Map Usage Validation Heat Map a Validator Occupancy Report 7 2 4 1 Model Validation Heat Map Model Validation heat map provides you a detailed view of Models with validation ratings This report tabulates the validation details with details such as Model ID Model Name Version Business Line Category Criticality Tier Validation Type Validation Rating and Validated Date 4 Model Validation Heat Map z Time run 8 26 2013 11 53 40 AM Al Vales Model ID Model Narre Versi n Binner line Category Criticality Tier Vakdation Type Vabdation Rating Vabdated Date L003 Mary issues 002 Private Barking Creat Risk high Ter Two Contra 8 26 2013 3 40 17 PM Ongoing Mervtoring 8 26 2013 3 36 10 PM Outcome Analysis Medium 8 26 2013 3 40 17 PM SOLO Servty test 001 Privete Barking Creat Risk Low Ter Three Ongoing Montong 8 23 2013 3 33 03 PM Qutrome Analyss BRA 33 03 PM 8 23 20 13 3 34 04 PM LINK LINK 1 ABC USA Creat isk Very Low Ter One Bad Testo 8 27 20 3 14 PM 20 37 07 PM Control 20 37 07 PM 2013 11 39 25 PM Ongoing Monitorning 8 27 2013 1 41 25 PM This is This is for testing the MAM This is for testing th The Private Barking Credit Risk Very igh Ter Two Control 0 26 2013 3 36
57. Management 4 27 Components of Model Management 4 5 2 Usage 4 5 1 12 Delete Model Model definition s which are in Draft status and no longer required can be deleted from the list To delete Model definition s from the Model Management window 1 Select the check box adjacent to the Model ID of the definition you want to delete Note You can delete a Model definition which is not linked or referenced elsewhere In case the Model definition is linked or referenced you have to delink or remove the reference of the Model definition and try again 2 Click the Delete button The confirmation dialog box is displayed 3 Click OK button in the confirmation dialog box The selected Model definition is deleted and a confirmation message is displayed The instances of a Model used in different businesses with or without change of parameter processing and calculation to the Model in use is termed as Usage In other words Usage is subset of Model used in different business units for closely aligned purpose of Model A Usage must be linked to a Model The workflow of a Usage is the similar to that of a Model For more information about the Model Usage workflow refer to User Roles and Actions section Usage menu under Model Management module navigates you to the Usage list Usage Creator and Usage Owner have access to the Usage List screen The list displays only those Usages which are either created or Owned by the lo
58. Model Usage Details a Link Products a Define Source Details Define Output Details Link Stages Inherit Stages Schedule Validation Link Issues and Actions Change Log a Attach Documents Audit Trail Model Management 4 15 Components of Model Management 4 16 You can download the profile report of a Model definition which provides all the details associated with the selected definition For more information refer to View Profile Reports section 4 5 1 9 1 Include Recommended Business Area The application allows the users mapped to the role of Model Creator Model Owner in In Development Rejected and Rework statuses and Analyst in In Review status to link Business Lines to the Model The Creator can link Business Lines to the Model at any Stage except Approved status To link Business Units to a Model from the Model Management window follow these steps 1 Click the Model ID of a Model to which you want to link the business units The Model Management Details window is displayed By default the Definition tab with the basic Model definition details are displayed 2 Expand the View More section by clicking the button 3 Click Add BU button from the Recommended Business Area grid The Recommended Business Combinations window is displayed This window lists the available Business Lines and the corresponding categories In the Recommended Business Combinations window you can search for Bus
59. Model definition follow these steps 1 Click the Model ID of a Model to which you want to inherit Stages from the preceding Model The Model Management Details window is displayed By default the Definition tab with the basic Model definition details are displayed 2 Click Inherit Stages button A confirmation dialog box is displayed Click OK The Stages from the preceding definition are inherited and is displayed under Stages tab 4 5 1 9 8 Schedule Validation Validation functionality of OFSMRM facilitates you to perform validations on defined Models and arrive at ratings You can schedule the validation of a Model from the Model Management window if all the linked Stages of the Model definition are approved The validation can be scheduled only for those Models which are in In Development Rejected and Rework and In Review status To schedule validation of a Model from the Model Management window follow these steps 1 Click the Model ID of a Model to which you want to schedule a validation The Model Management Details window is displayed By default the Definition tab with the basic Model definition details are displayed 2 Click Validation tab The Validation tab is enabled The Validation tab displays the Model ID Model Name Status Version Model Owner and BU Head details Model Management 4 21 Components of Model Management 3 To schedule the validation for a selected Model click the Schedule New but
60. ORACLE Oracle Financial Services Model Risk Management User Manual Release 2 E41055 01 November 2013 Oracle Financial Services Model Risk Management Release 2 E41055 01 Copyright 2013 Oracle and or its affiliates All rights reserved Primary Author Aneesh Kurian Contributor Aman Oberoi Aishwariya Karwa Bibhuti Nayak Krishnamurthy Venkatraman Nandeesh Shanmukhappa Naresh Ponnana Naveen Nagaraj Rajashree Ananthakrishna Ruchi Maurya Sreedutt K V Koylurveedu and Vidhi Rastogi This software and related documentation are provided under a license agreement containing restrictions on use and disclosure and are protected by intellectual property laws Except as expressly permitted in your license agreement or allowed by law you may not use copy reproduce translate broadcast modify license transmit distribute exhibit perform publish or display any part in any form or by any means Reverse engineering disassembly or decompilation of this software unless required by law for interoperability is prohibited The information contained herein is subject to change without notice and is not warranted to be error free If you find any errors please report them to us in writing If this is software or related documentation that is delivered to the U S Government or anyone licensing it on behalf of the U S Government the following notice is applicable U S GOVERNMENT END USERS Oracle programs including any op
61. Overdue Model Actions report provides you the details of Models Actions which are overdue Overdue Model Actions iy Time run 8 28 2013 11 48 55 AM Model ID Version Model Name Business Line Category Model Owner BU Head Action Id ActionName Target Date No of Issues Linked oe i a DEV ASCUSA Cred Risk Moron Omnes BU Heed 81231815 acton model 1254556 25 Aug 13 Return Edit Refresh Print Export 7 2 3 6 4 Overdue Model Attestations Overdue Model Attestations report provides you the details of Models Attestations which are overdue Overdue Model Attestations hy Time run 8 28 2013 11 49 50 AM AMDLOO6 Model Owner BU Head Wholesale Banking Market Risk 4MDLO1 001 Sanity test Model Owner BU Head Private Banking Credit Risk 81231046 For Validation check better not touch Model Owner BU Head Private Banking CreditRisk 81245138 27 Aug 13 Return Edit Refresh Print Export 7 2 3 6 5 Overdue Model Validations Overdue Model Validations report provides you the details of Models Validations which are overdue Overdue Model Validations VA Time run 8 28 2013 11 50 47 AM Model ID Version Model Name Model Owner BU Head Business Line Category Validation Type Validation Frequency Validation ID Validator Validation Source DueDate 4MDLO1 001 Sanity test Model Owner BU Head Private Banking Credit Risk Ongoing Monitoring Half Yearly _ 81230504 Schedule 8 26 2013 3 3
62. USER QAUSER 27 Aug 13 IMDLOOSO 001 This wil be rejected forrework_______ k Morron Ownes BU Head Private Banking __ Credit Risk 81239789 fohbfs _ External MRGS Mown Mown 26 Aug 13 m123 3123 For Validation check better not touch Model Owner BU Head Private Banking Credit Risk 81245585 tested External _ QAUSER MRMUSER MRMUSER 27 Aug 13 Return Edit Refresh Print Export 7 2 3 6 7 Pending Approval Model Stages Pending Approval Model Stages report provides you the details of Models Stages which are Pending Approval Pending Approval Model Stages we Time run 8 28 2013 11 52 56 AM Model ID Y ame Model Ow sue sue lime ModelOwner 3 Analysis Pan nM meee ETE 12 00 00 AM Return a Refresh Print Export 7 10 Oracle Financial Services Model Risk Managemet Reports 7 2 3 6 8 Model Details Model Details report provides you the details of all the Models available 4 Model a E Las FT 10 200 0003 Model Details Terre ran 8 23 2013 11354001 AM Madal hise reir tania eren paas sa Oat Tar paum a LS Metric Ador gi Model Bu Low Ter Free Ped pam Rak Dra Pl ered ok mode Sr hare lo Bo ABC el ee aah Mode Bu Were Lom Ter Fre Ped Caras bid Then ip For berang Fe MEM Thi ia iy imig L ADC LEA Marori Ek Mode El Low Ter Dre Tee T Dra Read Moda iy uing buga paa dinos Meirg Marori Ek Mode mu li Cree Hedd Mary dami 2 ent Arti Dreh ah od Bu Hgh fer Feet
63. ab with Documents and Stage Documents grid is displayed 3 Click Attach Document button from the Documents grid The Attach Documents window is displayed 4 Populate the form details as tabulated Table 4 10 Field Description The field s marked in asterisks are mandatory Component The component is auto populated as Model Development as the document upload is being performed for a Model definition Type Select the type of the document from the drop down list The available values are Regulation Policy Documentation A Annexures Logical File Name Enter a description for the file which you are about to upload Choose a file Choose the file to upload by clicking Browse button and selecting the file 5 Click Attach File To link an existing document to the Model definition from the Documents tab of the Model Details Management window follow these steps 1 Click Link button The Document window with the currently available document list is displayed These documents are displayed with their ID Name Version Type and Status details 2 Select the check box adjacent to the ID column and click Link button The selected document is linked to the Model definition You can delete any of these associated documents from the Model definition by selecting the check box adjacent to the document name and clicking Delete button 4 5 1 9 12 Audit Trail The Audit Trail section tracks and displays the history of all
64. able s columns with the columns in the excel Excel Upload supports excel files created in Microsoft 2007 along with the earlier versions In addition you can map and upload multiple sheets created within a single excel file You can access Excel Upload section by navigating to Admin gt Excel Upload from the OFSMRM Home screen The Excel Entity Mappings and Excel Upload options are displayed in the LHS menu Click the links to view the section in detail Excel Entity Mappings Excel Upload 6 7 1 Excel Entity Mappings Excel Entity Mapping helps you to map Excel Data to the destination table in the database Excel Entity Mapping supports excel files created in Microsoft 2007 and earlier versions along with the option to map and upload multiple sheets created within a single excel file 6 7 1 1 Add Excel Entity Mappings To define mapping in the Excel Entity Mappings screen Admin 6 17 Excel Upload 10 Click Add button in Mappings Summary tool bar The ADD Excel Entity Mappings window is displayed Enter the required Mapping Name and Description Click Browse button The Choose File to Upload dialog is displayed Select the required Excel and click Load Excel Metadata button On upload the selected Excel columns are listed in Select Excel Columns grid and the database tables are listed in Select Entities grid Enter the Source Date in dd mm yy format You can select Apply to all Dates check box if the Excel contains
65. ack to the Stage list window From the Stages tab you can also select the check box adjacent to a Stage ID and perform the following actions Delink a Stage by clicking the Delink Stage button and clicking OK in the confirmation dialog box 4 20 Oracle Financial Services Model Risk Managemet Components of Model Management Note You can delink only those Stages which are in Draft status Assign Approver and Owner role by clicking Assign Approver Owner button and selecting the users from the Hierarchy Browser window Revert the comment changes to previously saved value or clear the comments by clicking Clear button before you save the member The checklist items for each Stage can be viewed in the Checklist window by clicking the Checklist hyperlink adjacent to each Stage definition listing You can also export the Stage definitions to a spreadsheet and wrap unwrap Stage definitions listing For more information refer to Export Definitions and Wrap Unwrap Item List sections For more information on creation of Stages refer to Reference Data Management section in Admin chapter 4 5 1 9 7 Inherit Stages Stages can be inherited from the preceding Model definition when the Model definition is in In Development status Note You can inherit Stages for a Model definition only if there is a preceding Model definition present and the status is in In Development To inherit Stages from the preceding
66. aded document to view and download it 6 9 2 Edit Document You can edit an uploaded document to change any pre defined parameters or to link Key Business Dimensions To edit a document from the Document Upload window follow these steps 1 Select the check box adjacent to the document ID of the document to be edited 2 Click Edit button The Attach Documents window is displayed You can edit the Name Type and Description fields 6 20 Oracle Financial Services Model Risk Managemet Questionnaire Link Key Business Dimensions To link KBDs to the documents from the Attach Documents window follow these steps 1 Click Link KBD button from the Key Business Dimensions grid The Recommended Business Combinations window is displayed 2 Select the Business Line and Category from the Recommended Business Combinations window and click Go button The Recommended Business Combinations for the selected Business Line and Category are displayed under Recommended Business Combinations grid 3 Select the check box adjacent to the Business Line and click OK button The selected Business Line is linked to the document and is displayed under Key Business Dimensions grid you can also select the check box adjacent to a KBD and click Delink button to delink the KBD from the document 3 Click Save button to update the document attachment 6 9 3 Delete Documents You can remove a document if it is no longer required in the applicati
67. adjacent to the Model IDs and clicking the Link button Model Management 4 17 Components of Model Management 4 18 The selected Models are listed under Upstream Models grid with their ID Name Version Usages Status and Criticality details You can click the ID hyperlink to view the Model details You can also Delink a selected Model by clicking the Delink button and clicking OK in the confirmation dialog box 4 5 1 9 5 Define Output Details Output section in Model Management Details window fetch the intended use and downstream Model details of a Model definition To link the Model output details from the Model Management window follow these steps 1 Click the Model ID of a Model to which you want to provide Output and Intended Use and Downstream Model details The Model Management Details window is displayed By default the Definition tab with the basic Model definition details are displayed 2 Expand the View More section by clicking the button 3 Further expand the Output section by clicking the button 4 Link the Model Output and Intended Use by clicking the Link button and selecting the source members from the Hierarchy Browser window The selected members are displayed under Intended Use grid From the Intended Use grid you can also select the check box adjacent to a member and perform the following actions Delink a member by clicking the Delink button and clicking OK in the confirmation dialog
68. aia itn ti tnar te celta 7 5 AcHons across BUSINESS EINES ud ii 7 5 ASIS OU 7 6 ACI OACI Saian a a O aac uemanasentatanaies 7 6 Model US SA an a mena nenenmeatts 7 6 FTE Risk Model nidad ondas 7 7 Models py Result is 7 7 Current Vs Previous Model ValidatiOn Rating ssrscnoscnrnresran inae 7 8 Model Validations Task Schedule avr 7 8 Model Validation Heat Map st OS 7 8 Additonal Reports a sana 7 9 Eres Uat 7 12 Usage by Resta 7 12 Current Vs Previous Usage Validation Rating occonionicnnocnnnanononnnnnnnananancnnaninrnnaninnananininnano 7 13 Usage Validations Task Schedule ad 7 13 Usage Validation Pleat Map vccsz nssscssgsqensscsagasnensnereucoaneestgnannnsosebaqeagndan aerea 7 13 Additional Reports ios 7 14 Valida ON os 7 16 ModelValidation HeatMap mont 7 16 Usage Validation Heat Via Prisa 7 16 Validator Oecupaner REPO bs ais 7 17 A References vi Workspace 0 813 1 lid A 1 Scar dd eee A 1 DASS A AA A OS A 1 Advance idt oeae sia A 1 VIEWS ES AAA A A 2 W rapy Un rao Hem 1S srt A 3 Export DI o e da er A 3 View Profile Reports tildado A 3 HierarchyiDLO WS CE iii A E E A 4 Se d Email adela A 4 Calenda cern nn ee re eee ern ee ene eee A 5 Audience Preface This guide explains the functionality of Oracle Financial Services Model Risk Management OFSMRM Release 2 in procedural approach This document is intended for the following users Creator Creator of Model Usage development Model Owner Ana
69. ails window by clicking the Transfer Ownership button 5 4 1 5 Close an Issue You can close an Issue when you have completed all the Actions created for an Issue To close an Issue the status of the same must be Open and the status of the associated Actions must be Completed To close an Issue from the Issues window follow these steps 1 Select the check box adjacent to the Issue ID which you want to close 2 Click Close Issue button The Issue Details window is displayed 3 Enter the reason for closure in the Reason for Closure field 4 Click Submit The Issue is closed You can also close an Issue from the Issue Details window by clicking the Close Issue button 5 4 1 6 Reopen Closed Issue An Issue Creator can reopen a closed Issue To reopen a closed Issue from the Issues window follow these steps 1 Select the check box adjacent to the Issue ID of the Issue which is to be reopened Note Only those Issues which are in Closed status can be reopened 2 Click Reopen Issue button The Issue Details window is displayed 3 Enter the required comments in the Comments field 4 Click Submit The Issue is reopened and the status is changed to Open You can also reopen closed Issue from the Issue Details window by clicking the Reopen Issue button 5 4 1 7 Issue Details Management You can incorporate additional details such as creation of Actions document attachment and linking and delinking of Actions t
70. akeholder For more information refer to Send Email section 5 4 2 6 3 Include Action Updates You can include updates related to an Action from the Action Details window To include an Action update from the Actions window follow these steps 1 Click the Action ID of the Action to which you want to include Action updates The Action Details window is displayed 2 Click button to expand the View More section 3 Click Add Updates button from the Action Updates grid A check box is populated under Action Updates grid 4 Select the check box populated under Action Updates grid The Update Comments field is enabled for edit 5 Enter the update comments in the Update Comments field 6 Click Save button The Action update is saved and listed under Action Updates grid You can also select the check box adjacent to an existing Action update entry and perform the following Update the details and click Save button to update the Action update information Click Delete Action Updates button to remove the Action Update 5 20 Oracle Financial Services Model Risk Managemet Components of Issues and Actions 5 4 2 6 4 Attach Documents You can attach any documents related to a specific Action definition To attach a document by uploading it from the Actions window follow these steps 1 Click the Action ID of a Action for which you want to upload supporting documents The Action Details window is displayed 2 Click button to
71. alog box is displayed 3 Click OK The Model definition is marked for review and the status of the definition changes to In Review 4 5 1 7 Attest Model Models are attested by the Model Owner or BU Head to affirm and confirm the working relevance and use of Model for its intended business Only approved Models which are in In Use Pending Retire Approval or In Review status can be attested Note BU Head can attest a Model only through the task which is generated 30 days prior to the attestation due date To attest a Model from the Model Management window 1 Select the check box adjacent to a Model ID which you want to attest 2 Click the Attest button The Model Details Management window is opened with Attestation tab enabled The Attestation tab lists a new attestation with an ID and status New 3 Click the ID of the attestation with status New The attestation is open for edit and the available assertions are displayed 4 Select the Effective To date from the Calendar Note The Effective From date is auto populated with the date after the End Date of the previous attestation 5 Select the check box adjacent to the assertions you want to respond to Note You can also select the check box adjacent to the Assertions grid and respond to all the assertions Oracle Financial Services Model Risk Managemet Components of Model Management 6 Respond to the assertions with Yes o
72. ate Received by Issue Status Submitting an Action by Issue Owner or Action Creator Submitting an Action by Action Owner Transferring the Ownership A Task is sent to the Action Owner selected in the Owner field A Task is sent to the new Action Owner selected in the Transfer Ownership window 5 2 Oracle Financial Services Model Risk Managemet A Notification is sent to Issue Creator of the Issue which mapped to the Action Action Owner Issue Creator Action Owner Open Open Open Components of Issues and Actions Table 5 3 Cont Task or Action Notification Notification Performed Task Update Update Received by Issue Status Transferring A Notificationis Issue Owner and Open Ownership sent to the Issue stake holders Owner who created the Action and all the stake holders captured in stake holders tab Completing the A Notificationis Issue Owner and Closed Progress of an sent to the Issue stake holders Action to 100 Owner who created the Action and all the stake holders captured in stake holders tab Force closing an A Notificationis Issue Owner and Open Action sent to the Issue stake holders Owner who created the Action and all the stake holders captured in stake holders tab 5 3 Access Issues Actions You can access the Issues amp Actions module from the OFSMRM home page Mouse over the Issues tab in OFSMRM application and select either Issues or Actions Us
73. box Provide the necessary comments under the Comments column and click Save button to save the comments for the member Revert the comment changes to previously saved value or clear the comments by clicking Clear button before you save the Business Line You can link the downstream Model details from the Output section A downstream Models is the Model in which the current Model will used as an input or source To link a downstream Model follow these steps 1 Link the downstream Models by clicking the Link button The Downstream Models window is displayed In the Downstream Models window you can search for a set of Models using the Model ID Model Name Version and Model Owner details For more information refer to Search and Filter section The Model List grid in the Downstream Models window displays only those Models with the same Business Line and Category of the Model under development 2 Select the required Models by selecting the check box adjacent to the Model IDs and clicking the Link button The selected Models are listed under Downstream Models grid with their ID Name Version Usages Status and Criticality details You can click the ID hyperlink to view the Model details You can also Delink a selected Model by clicking the Delink button and clicking OK in the confirmation dialog box Oracle Financial Services Model Risk Managemet Components of Model Management 4 5 1 9 6 Link Stages Model Development
74. c and the maximum allowed characters are 3000 Select a criticality level from the drop down list to specifying how critical the Action is to the organization The available options are Very High High Medium Low Very Low Click the Browse button and select the user who is responsible for monitoring and tracking the Action from the Hierarchy Browser window Click the calendar icon and select the date by which the Action plan has to be executed For more information refer to Calendar Click the calendar icon and select the date by which the Action plan has to be completed For more information refer to Calendar Enter the number of reminder days prior to which the Action Owner needs to be acknowledged to complete the Action This field displays the approximate measure of completion of Actions This field is not editable Select the currency type by clicking the Browse button and selecting the type form the Hierarchy Browser window Enter the estimated amount in the selected currency type This filed displays the actual cost that incurred in mitigating the Action This field is not editable in Draft status and can be edited in Open status Select the component from the drop down list for which the Action is to be created The available options are Model Usage Click the Browse button and select the primary source from the Hierarchy Browser window This is the name of the entity in the
75. cheduled and the schedule is displayed under Scheduled Validation grid of the Validation tab A new validation is saved with status New The status become Active on the scheduled date once the batches are executed for a Usage which has status In Use Once the scheduled validation is executed you can change the status to Inactive by performing the following actions Move the Usage status to In Review a Select the Active validation and click Terminate The status of the validation becomes Inactive Once a validation moves to Active status the respective validators are assigned with tasks to perform the validation To perform a validation the validator needs to select the Scheduled Validation which is in Active status Validation Task from the Aggregated Validations grid and Individual Task from Individual Validations grid Once the validation is completed scores get generated based on the Questionnaire answered if the Questionnaire is score based and rating is displayed as High Medium Low in Individual Validations In addition the aggregated rating is displayed in Aggregated Validations grid All the completed validations need to be approved by a user who has Validation Approver role assigned 4 5 2 9 6 Link Issues and Actions You can link Issues and subsequent Actions to a Usage definition To link Issues to a Usage definition from Usage Management window follow these steps 1 Click the Usage ID of a Usage to which you wan
76. cument name and clicking Delete Document button 5 4 1 7 4 View WorkFlow History The WorkFlow History section tracks and displays the history of all the changes made to the Issue definition This tab records every action save or submit and status changes This section facilitates you to track the changes by comparing different Actions performed on an Issue definition To view the WorkFlow History details of an Issue from the Issues window follow these steps 1 Click the Issue ID of an Issue of which you want to view the workflow history details The Issue Details window is displayed 2 Click button to expand the View More section 3 Further expand the WorkFlow History grid by clicking the button The WorkFlow History grid displays the history of Actions of the selected Issue definition The WorkFlow History displays the details such as Last Modified date Last Modified By Status and Action Comments details If there are more than one workflow history items present for an Issue you can compare them by selecting the check boxes adjacent to the items you want to compare and clicking Difference button from the WorkFlow History grid 5 4 1 7 5 Delete Actions You can delete an Action from the Actions grid of the Issue Details window To remove an Action follow these steps 1 Click the Issue ID of an Issue of which you want to remove an Action The Issue Details window is displayed Click button to expand the View More sec
77. cuments You can attach any documents related to a specific Issue definition To attach a document by uploading it from the Issues window follow these steps 1 Click the Issue ID of a Issue for which you want to upload supporting documents The Issue Details window is displayed 2 Click button to expand the View More section 3 Click Attach Document button from the Document grid The Attach Documents window is displayed 4 Populate the form details as tabulated Table 5 7 Field Description The field s marked in asterisks are mandatory Component This field is auto populated with the component for which the document is being attached and is non editable Type Select the type of the document from the drop down list The available values are Regulation Policy Documentation Annexures Logical File Name Enter a name for the file which you are about to upload Click Upload File button The Attach Document dialog box is displayed Select the file to attach by clicking the Browse button from the Choose a file to attach field and selecting the appropriate file Issues and Actions 5 13 Components of Issues and Actions 5 14 7 Enter the Logical File Name in the Logical File Name field 8 Click Attach File button The selected file is associated with the Issue definition You can delete any of these associated documents from the Issue definition by selecting the check box adjacent to the do
78. d Usage Owner can link the Stages which are appropriate for the Usage to be developed Stages can be linked to a Usage when it is in In Development status If all the Stages linked to the Usage and the Usage definition submitted for approval by the Analyst are approved by the Usage Approver the status of the Stages changes to be Completed The Analyst has to submit the Usage to Usage Approver for approval Once submitted the status is changed to Pending Approval After approval the Usage is changed to In Use status To link Stages to an approved Usage which is in In Development status from the Usage Management window follow these steps 1 Click the Usage ID of a Usage to which you want to link Stages Note Ensure that the Usage definition you have selected is in In Development status The Usage Management Details window is displayed By default the Definition tab with the basic Usage definition details are displayed 2 Click Stages tab The Stages tab is enabled The Stages tab displays the Usage ID Usage Name Status Version Usage Owner and BU Head details 3 Click Link Stages button from the Stages grid The Stages window is displayed The Stages window lists all the available Stages 4 Select a Stage by clicking the check box adjacent to the required Stage s and clicking Link button 4 38 Oracle Financial Services Model Risk Managemet Components of Model Management The selected Stages are link
79. d in Open status A change log in Draft status can be updated and submitted to a Change Owner for further actions To submit a change log 1 Select the check box adjacent to the Change Log ID which is in Draft status The change log is open for edit under Change log Details grid 2 Enter modify the details as required 3 Click Update button to save the changes 4 Click Submit The change log is saved with updated details and submitted to the Change Owner The status of the change log is changed to Open Once submitted the Change Owner can review the change log and close it after providing necessary information in the Closing Note field The status of such a closed change log moves from Open to Closed The Change Owner can also reassign a change log to another user 4 5 1 9 11 Attach Documents You can attach any document related to a specific Model definition There are two ways in which you can associate a document with a Model definition Upload a new document Link an existing document to the Model definition To attach a document by uploading it from the Model Management window follow these steps 1 Click the Model ID of a Model for which you want to upload supporting documents The Model Management Details window is displayed By default the Definition tab with the basic Model definition details are displayed 2 Click Documents tab Model Management 4 25 Components of Model Management The Documents t
80. date on which the task associated to the notification is due to be completed Reassigned Tasks are listed with following details Table 3 4 Tab Description Task ID The unique ID to identify the task Name Displays the Task name Entity Name Displays the name of the entity This entity can be Model Usage Issue or Action Entity Status Displays the current status of the entity Due Date Displays the date on which the task is due to be completed Overdue By Displays the number of days which the task is pending after its due date Reassigned To Displays the user name to whom the task has been reassigned Reassigned On Displays the date on which the task has been reassigned 3 2 Oracle Financial Services Model Risk Managemet Reassign Task Note You can click the Task ID to view the definition details associated with the Open Tasks and Notifications This navigates you to the respective Model Details Usage Details Stage Details or Validation Details window For more information on Models Usage Stages and Validation refer to Model Management chapter You can search for Open Tasks Completed Tasks Notifications and Reassigned Tasks from the Inbox window using Name Entity Name or Due Date For more information refer to Search and Filter section You can also wrap unwrap Task and Notification listing For more information refer to Wrap Unwrap Item List section 3 2 Reassign Task From the Open
81. dow Create Question Copy Question Question Details Management a Delete Question 6 10 1 1 Create Question To create a Question from the Questions Library window follow these steps 1 Click Create Question button from the Questions grid The Question Details window is displayed qe Questen Details Windews Fiemet Explocer i Fk ME ire T ry A dea F ORACLE Model Risk Management Tom Harel Thursday Awgust 3 2013 Home inbox ModelManagement isseen Aciiona Admin Dashboand Gursiennaire Ducaliona librar y aran Details Help Wew E Save Oratt 24 Submit E Cancel 2920 aa 2017 Cabagory External z Duection Typa Single Choice Single Choice amp Display ao Dropdown Display as Radio Butions OY Muteaie Choise Cuevtlon 1 What h thee capital of America Y Select the correct option Free Text CT on poor L Range i 400 Option l Response Options Wi L Lecal intranet Protected Mode O i iy This Question definition is associated with an ID which is the sequential tracking number of the Question The ID field is non editable 2 Enter the Question in the Question field This field is alphanumeric and the maximum allowed characters are 3000 3 Enter a description about the Question in the Description field This field is alphanumeric and the maximum allowed characters are 3000 4 Select the category of the Question from the drop down list The available options are
82. e Action Action By Status and Comments If there are more than one audit trail items present for a Usage you can compare them by selecting the check boxes adjacent to the items you want to compare and clicking Difference button from the Audit Trail tab 4 5 2 10 Retire Usage An active Usage definition which is in In Use status and is not relevant or requires an update before it can be used again can be retired To retire a Usage from the Usage Management window 1 Click the Usage ID of a Usage definition which you want to retire Note Ensure that you have selected a Usage which is in In Use status and the Usage is not linked to any Models The Usage definition is displayed in Usage Management Details window 2 Click Retire Model Usage button The Usage Approval window is displayed 3 Select the Usage Approver from the Usage Approval window by clicking the Browse button and selecting the user from the Hierarchy Browser window 4 Enter the required comments in Comments field 5 Click Submit The Usage definition has been initiated for retirement and sent for approval Once approved the status of the Usage changes to Retired 4 5 2 11 Reinstate Usage A Usage definition which is in Retired status can be reinstated for its further use A Retired Usage can be reinstated only by the Usage Analyst and this Usage has to be approved before it can be further edited To reinstate a retired Usage from the Usage Ma
83. e Enter the rule execution sequence number This is the order sequence in which the Rule has to be executed in comparison with the other rules available Rules Click Browse button and select the rules from Hierarchy Browser Status Select Enable if the rule is to be enabled on the Workflow Stage and Disable otherwise By default Enable is selected Created By This field is auto populated with the name of the user who created this rule Created Date This field is auto populated with the date on which the rule is created Last Modified By This field is auto populated with the name of the user who modified the rule Last Modified Date This field is auto populated with the date on which the rule is last modified 4 Click Save button The rule is mapped to the Stage and is displayed under Routing Rules grid You can click the Rule ID hyperlink to view and edit the rule definition details You can also select the check box adjacent to a Rule ID and perform the following Click Enable Rule button from the Routing Rules grid to enable the selected rule This button is enabled only if you have selected a disabled rule Click Disable Rule button from the Routing Rules grid to disable the selected rule This button is enabled only if you have selected an enabled rule 6 5 2 4 Create Notifications You can create notifications to be generated during the entry to a Stage in the Stage or during exit from a Stage To create not
84. e a selected branch a Click Show Code Values Right button to view the code values at the right side of the hierarchy members a Click Show Code Values Left button to view the code values at the left side of the hierarchy members Click Show Code button to view the code of hierarchy members instead of hierarchy member names A 5 Send Email Any updates regarding the definitions can be notified to all the stakeholders by sending emails to them This is possible from the definition listing window To send an email from the definition listing window A 4 Oracle Financial Services Model Risk Managemet Calendar 1 Click Send Email button in the definition listing window The Send Email window is displayed 2 Enter the details in the Send Email window as tabulated below Table A 1 Field Description The fields marked in asterisks are mandatory From By default this field is populated with the logged in user name You can update this field Recipients Enter the recipient email ID s The maximum allowed characters are 3000 Subject Enter the subject for the email Mail Body Enter the email body The maximum allowed characters are 3000 Attach Profile Report Select Yes if you want to attach the profile report with the email 3 Click Send Emails to all the mentioned stakeholders are sent with the populated details A 6 Calendar The Calendar in the user interface helps you to specify a date
85. e tool has been acknowledged as Model Select the Model tier from the drop down list The available values are Tier One a tier Two Tier Three Tier Four The frequency at which the validations reviews are conducted for Tier 1 Models are more in comparison with Tier 2 Tier 3 and Tier 4 Models Enter the repository path where the Model artifacts data files and algorithms are stored Enter the restrictions on using the Model The maximum allowed characters are 3000 Enter the assumptions as applicable to the Model The maximum allowed characters are 3000 Enter any known limitation of the Model The maximum allowed characters are 3000 The Comment field displays the comments provided while performing the latest actions on the Model This remains blank in case of a new Model 3 Click Save As Draft Model Management 4 11 Components of Model Management The Model is saved and is displayed as shown in the following figure Bl Model Macugement Detail Winder Internet Explorer 203 ORACLE Model Risk Management Home Inici Hodel LManagarent laaueb A Anions Admin Model gt gt Model TJ Medel Profile E Subenit Tor initial Approval E Delete 54 Send Mai Mbs Porta far an Model ID Model Hama Description Preceding Model ID Elusino 55 List Model Cramer Criticality Requires Atbestabon Version Derelopenen Objectre Desalapad iby Catogory til LU Heed ALS Head Walid Till F
86. eated By This filed is populated with the name of the user who creates the change log this field is not editable Created On This filed is auto populated with the current date This field is not editable Description Enter a description about the change log Closing Note This field is not editable when you create the change log draft Once saved as draft you can enter the closing note and submit the change log Note This field is active only if you have Change Owner role assigned Click Save as Draft to save the draft and submit later for approval The change log is saved in Draft status Or Click Submit to submit the change log for approval The change log is saved in Open status A change log in Draft status can be updated and submitted for approval To submit a change log 1 Select the check box adjacent to the Change Log ID which is in Draft status The change log is open for edit under Change log Details grid Enter modify the details as required Click Update button to save the changes Click Submit The change log is saved with updated details and submitted to the Change Owner The status of the change log is changed to Open Once submitted the Change Owner can review the change log and close it after providing necessary information in the Closing Note field The status of such a closed change log moves from Open to Closed The Change Owner can also reassign a change log to another user 4 5 2 9 8 Attac
87. ect the Scheduled Validation which is in Active status Validation Task from the Aggregated Validations grid and Individual Task from Individual Validations grid Once the validation is completed scores get generated based on the Questionnaire answered if the Questionnaire is score based and rating is displayed as High Medium Low in Individual Validations In addition the aggregated rating is displayed in Aggregated Validations grid All the completed validations need to be approved by a user who has Validation Approver role assigned 4 5 1 9 9 Link Issues and Actions You can link Issues and subsequent Actions to a Model definition To link Issues to a Model definition from Model Management window follow these steps 1 Click the Model ID of a Model to which you want to associate Issues and Actions The Model Management Details window is displayed By default the Definition tab with the basic Model definition details are displayed 2 Click the Issues and Actions tab The Issues and Actions tab is enabled 3 Click the Link button from the Issues grid The Issues window is displayed You can use the search parameters in the Issues window to search and find a particular Issue or a set of Issues For more information refer to Search and Filter section 4 Select the check boxes adjacent to the Issue IDs you want to link to the Model definition Model Management 4 23 Components of Model Management 5 Click Link button
88. ed Refresh Print Export 7 2 2 6 Aging of Actions Aging of Issues report provide you a detailed view of the number of Issues pending to be resolved This details the total number of Issues Issues fixed on time and pending Issues in different time frames Aging of Actions GN Time run 3 28 2013 10 07 54 AM Graph Within Time ao HE oo 2s 5 2 Tim Beyond Refresh Print Export 7 2 3 Model amp Usage The Model amp Usage dashboard provides you the following reports in two different tabs which are Models and Usage The reports available under Models tab are the following High Risk Models Models by Regulation Current Vs Previous Model Validation Rating Model Validations Task Schedule Model Validation Heat Map Additional Reports Model Status Report Overdue Model Issues Overdue Model Actions 7 6 Oracle Financial Services Model Risk Managemet Reports Overdue Model Attestations Overdue Model Validations Overdue Model Change Log Pending Approval Model Stages Model Details 7 2 3 1 High Risk Models This report provides you an insight to the number of Models which are at risk among different Business Lines and Categories You can choose to view the number of high risk Models either in various Business Lines or in different Categories High Risk Models A Time run 8 5 2013 4 29 46 PM View by Business Line 10 5 Count of 1 Models
89. ed to the Usage and are displayed in Stages tab with the details such as Stage ID Stage Name Status Owner Approver Start Date End Date and Checklist All the selected Stages are assigned with Stage IDs You can click these IDs to view the Stage definition details 1 Click the Model ID of a Model to which you want to link Stages Note Ensure that the Model definition you have selected is in In Development status The Model Management Details window is displayed By default the Definition tab with the basic Model definition details are displayed 2 Click Stages tab The Stages tab is enabled The Stages tab displays the Model ID Model Name Status Version Model Owner and BU Head details 3 Click Link Stages button from the Stages grid The Stages window is displayed The Stages window lists all the available Stages 4 Select a Stage by clicking the check box adjacent to the required Stage s and clicking Link button The selected Stages are linked to the Model and are displayed in Stages tab with the details such as Stage ID Stage Name Status Owner Approver Start Date End Date and Checklist All the selected Stages are assigned with Stage IDs You can click these IDs to view the Stage definition details The Stage Definition Details window displays the Stage Name Stage Status Usage ID Usage Name Stage Owner and Stage Approver details For a Usage definition in In Development or Reject and R
90. ejected and Rework has to be submitted for approval Only a user who has Model Approver role assigned can approve a Model definition It is mandatory to schedule a validation before Model can be submitted for approval To send a Model definition for approval from the Model Management window perform the following actions 1 Click the Model ID of the Model definition which is to be sent for approval The Model definition details are displayed 2 Click Submit for Approval button 3 The Model Approval dialog box is displayed 4 Select the Approver by clicking Browse button and selecting the user from Hierarchy Browser window 5 Enter the required comments in Comments field 6 Click Submit The Model definition has been submitted for approval Model Management 4 13 Components of Model Management 4 14 4 5 1 6 Submit Model for Review A Model created by Model Creator has to be moved to In Review by analyst for any minor updates in Model definition or change in validation schedule Any change to Model in In Review status can be done only by Analyst Note Marking a Model definition for review prevents the creation of Scheduled validation task until review is complete To mark a Model definition for review from Model Management window 1 Click the Model ID of the Model definition which is to be marked for review The Model Management Details window is displayed 2 Click In Review button A confirmation di
91. eld is auto populated and displays the actual cost of taking Action plans to mitigate the Issue The actual cost will be converted into the currency in which the Issue is captured The currency exchange rate is calculated till the time the Action is in Draft and Open statuses 5 6 Oracle Financial Services Model Risk Managemet Components of Issues and Actions Table 5 5 Cont Field Description Component Select a component from the drop down list for which you want to create the Issue The drop down list displays only those components for which the Manual Issue Creation is enabled from Issues and Actions Configuration section of Admin module The available options are Model Usage Primary Source Click the Browse button and select the name of the particular entity in the source function for which the Issue is being created from the Hierarchy Browser window Business Line Click the Browse button and select the Business Line to which the selected component is adhered to from the Hierarchy Browser window Category Click the Browse button and select the category of the risk from the Hierarchy Browser window Comments Enter any comments other information related to the Issue 3 You have the following options to save an Issue definition a Click Save as Draft button The Issue definition is saved and the details are displayed in Issue Details window The status of a saved Issue changes to Draft Click S
92. ence Table 6 3 Cont Field Application Name Workflow Function Name Workflow ID Name Description Effective Date Default Workflow Business Line Category Comments Created By Created Date Last Modified By Last Modified Date Description The Application Name is auto populated with the value Model Risk Management The Workflow function name is auto populated with the function name you have selected in the Workflow Manager window The Workflow ID is an auto populated sequential tracking number assigned to a Workflow Enter the required name of the Workflow This field is alphanumeric and the maximum allowed characters are 300 Enter a description for the Workflow The maximum allowed characters are 3000 Select the date from which the Workflow should be active from the Calendar Select Yes if the Workflow under creation is the default Workflow for the selected Workflow function and No otherwise Click the Browse button and select the Business Line from the Hierarchy Browser to which the Workflow is mapped Note This field is active only if you have selected No in Default Workflow field Click the Browse button and select the category from the Hierarchy Browser to which the Workflow is mapped Note This field is active only if you have selected No in Default Workflow field Enter any additional information comments regarding the Workflow under creation This will be popu
93. ent Details window is displayed By default the Definition tab with the basic Model definition details are displayed 2 Expand the View More section by clicking the button Oracle Financial Services Model Risk Managemet Components of Model Management 3 Link the financial element by clicking the Link button and selecting the product from the Hierarchy Browser window The selected products are displayed under Products grid From the Products grid you can also select the check box adjacent to a financial element and perform the following actions Delink a financial element by clicking the Delink button and clicking OK in the confirmation dialog box Provide the necessary comments under the Comments column and click Save button to save the comments for the financial element Revert the comment changes to previously saved value or clear the comments by clicking Clear button before you save the financial element 4 5 1 9 4 Define Source Details Source section in Model Management Details window fetch the Model source and Model upstream details Model from which data input is used in Model under reference of a Model definition To link the Model source details from the Model Management window follow these steps 1 Click the Model ID of a Model to which you want to link the input details The Model Management Details window is displayed By default the Definition tab with the basic Model definition details are disp
94. ent in the Development Objective field and is mandatory for such development objectives Upon selecting a preceding Usage the details such as ID Usage Owner BU Head Criticality Regulation Methodology Restrictions in Use Assumptions and Known Limitations are taken from the selected Usage and auto populated in the respective fields of the Usage under creation Select the Model ID to which the current Usage belongs to from the Hierarchy Browser window by clicking the Browse button Select the Business Line from the Hierarchy Browser window by clicking the Browse button Select the primary category of the Usage from the Hierarchy Browser window by clicking the Browse button Select the User Name who owns the Usage from the Hierarchy Browser window by clicking the Browse button Select the Business Unit Head user Name from the Hierarchy Browser window by clicking the Browse button Oracle Financial Services Model Risk Managemet Components of Model Management Table 4 12 Cont Field Criticality Valid Till Requires Attestation Attestation Frequency Target Date Regulation Developed By Description Select the criticality of the Usage under development to the business This indicates the impact of the Usage in the business The available options are Very Low Low Medium High Very High Select the validity of the Model from the Calendar by clicking the date picker This indicate
95. ential tracking number assigned to tasks This field is not editable Name Enter the name of the task This field is alphanumeric and the maximum allowed characters are 300 Sequence Enter the sequence in which you want the task to be executed Oracle Financial Services Model Risk Managemet Application Preference Table 6 7 Cont Field Generate Description Access Rights Status Created By Created Date Last Modified By Last Modified Date 5 Click Save button Description Select from the drop down list when to execute the task The available values are On Entry a On Exit On Stage Enter the description for the task This field is alphanumeric and the maximum allowed characters are 3000 Select the access rights from the drop down list The available values are Single Multi User Defined a Default Access Select the status of the task from the drop down list as Enable or Disable This field is auto populated with the name of the user who created this task This field is auto populated with the date on which the task is created This field is auto populated with the name of the user who modified the task This field is auto populated with the date on which the task is last modified The task is saved and displayed in Tasks grid You can click the Task ID hyperlink to view and edit the task details in the Workflow Tasks window From this window you can al
96. eptual Soundness Ongoing Monitoring Outcome Analysis Result a Full Scope Review Quantitative Performance Monitoring Select the start date of validation from the Calendar Enter the number of days prior to the validation execution you want the notification to be sent Select the validation frequency from the drop down list The available values are Monthly Quarterly Half Yearly Yearly Select the end date of validation from the Calendar The validation is saved Once the validation is scheduled the Validators and Questionnaire grids are enabled in the Usage Validation window 6 Add validators by clicking Link button in the Validators grid and selecting the user from the Hierarchy Browser window You can also select the check box adjacent to a Validator and click Delink to remove the selected validator 7 Select the Questionnaires by clicking Link button in the Questionnaire grid The Link Questionnaire window is displayed You can search for a particular Questionnaire by providing the Questionnaire ID Questionnaire Name Created From or Created To details For more information refer to Search and Filter section 8 Select the check box adjacent to the Questionnaire ID 9 Click Link The selected Questionnaire is displayed under Questionnaire grid of Usage Validation window You can also select the check box adjacent to an ID and click Delink to remove the selected Questionnaire
97. er An Analyst has access to all the Models in the Model List screen The Models are listed with following details Table 4 5 Column Name Description Model ID Displays ID of the Model Model Name Displays name of the Model Version Version of the Model Business Line Business Line to which the Model belongs Category Category of the Model Model Owner Name of the owner of the Model Usage Count Number of active Usages Status Current status of the Model Last Modified Last modified date of the Model Model Management 4 7 Components of Model Management You can search for a specific Model or a set of Models from the Model Management window For more information refer to Search and Filter section You can send updates regarding the definitions to all the stakeholders by sending emails to them For more information refer to Send Email section You can also export the Model definitions to a spreadsheet and wrap unwrap Model definitions listing For more information refer to Export Definitions and Wrap Unwrap Item List sections The following actions are possible from the Model Management window Create Model a View Model Definition Edit Model Definition Submit Model for Initial Approval Submit Model for Approval Submit Model for Review Attest Model m Create Issue Model Details Management a Retire Model Reinstate Model a Delete Model 4 5 1 1 Create Model The Initiate Model facilitates the initia
98. erating system integrated software any programs installed on the hardware and or documentation delivered to U S Government end users are commercial computer software pursuant to the applicable Federal Acquisition Regulation and agency specific supplemental regulations As such use duplication disclosure modification and adaptation of the programs including any operating system integrated software any programs installed on the hardware and or documentation shall be subject to license terms and license restrictions applicable to the programs No other rights are granted to the U S Government This software or hardware is developed for general use in a variety of information management applications It is not developed or intended for use in any inherently dangerous applications including applications that may create a risk of personal injury If you use this software or hardware in dangerous applications then you shall be responsible to take all appropriate fail safe backup redundancy and other measures to ensure its safe use Oracle Corporation and its affiliates disclaim any liability for any damages caused by use of this software or hardware in dangerous applications Oracle and Java are registered trademarks of Oracle and or its affiliates Other names may be trademarks of their respective owners Intel and Intel Xeon are trademarks or registered trademarks of Intel Corporation All SPARC trademarks are used under license and are
99. ers mapped to the following user roles can access the Issues amp Actions window Issue Creator a Issue Owner Action Owner 5 4 Components of Issues and Actions 5 4 1 Issues The Issues amp Actions module consists of the following two components a Issues Actions Issues menu under Issues amp Actions module navigates you to the Issue List Issue Owner has access to the Issue List screen The list displays only those Issues which are owned by the logged in user An Analyst has access to all the Issues in the Issue List screen The Issue Creator role has to be tagged along with Analyst role This is because the generic Issue creation is available only to a user mapped to the Analyst role The Issues are listed with following details Issues and Actions 5 3 Components of Issues and Actions Table 5 4 Tab Name ID Name Component Issue Category Actions Creator Owner Target Date Status Last Modified Description Displays the sequential tracking number of the Issue Issue Name The component to which the Issue is assigned This can either be Model or Usage Displays the specified Issue type Displays the number of associated Actions Displays the name of the Issue Creator Displays the name of the Issue Owner Display the date on which the Issue is due to be fixed Displays the current status of the Issue Displays the Date on which the Issue was last updated You can search for a specific I
100. ervices Model Risk Managemet Components of Model Management Revert the comment changes to previously saved value or clear the comments by clicking Clear button before you save the member The checklist items for each Stage can be viewed in the Checklist window by clicking the Checklist hyperlink adjacent to each Stage definition listing You can also export the Stage definitions to a spreadsheet and wrap unwrap Stage definitions listing For more information refer to Export Definitions and Wrap Unwrap Item List sections For more information on creation of Stages refer to Reference Data Management section in Admin chapter 4 5 2 9 4 Inherit Stages Stages can be inherited from the preceding Usage definition and associated Models when the Usage definition is in In Development status To inherit Stages from the preceding Usage definition follow these steps 1 Click the Usage ID of a Usage to which you want to inherit Stages from the preceding Usage The Usage Management Details window is displayed By default the Definition tab with the basic Usage definition details are displayed 2 Click Inherit Stages button A confirmation dialog box is displayed Click OK The Stages from the preceding definition are inherited and is displayed under Stages tab 4 5 2 9 5 Schedule Validation Validation functionality of OFSMRM facilitates you to perform validations on defined Usages and arrive at ratings You can schedule the va
101. es Development workflow Table 4 2 Action Action Taker Add comments Add Creator Creator of Model Usage development attachment Save Add Attachments Reviewer users who are identified as Reviewers by the Creator Add Comment Submit Add Attachment Analyst and Reviewer users who are identified as Analyst and Add Comments Reviewers by the Creator Save Submit Add Creator Creator of Model Usage development Attachment Add Comments De link Stages Submit for Approval Approve Stage Reject Stage E mail Model Usage Details Creator Creator of Model Usage development and Model Owner Stage Owner Approver user identified as Approver for the Stage Approver user identified as Approver for the Stage Creator Model Owner Analyst Peer Reviewer Approver 4 3 1 Tasks and Notifications in Models The following table lists all the tasks and notifications depending on different user roles These tasks and notifications are received by the corresponding users in their Inbox menu on performing a particular action Table 4 3 Task or Notification Action Performed Task Update Notification Update Received by Submitting a Model A Task is sent to the Model Owner Model Owner selected in the Owner field Closing a Model A Notification is sent Model Creator to the Model Creator who created the Model 4 3 2 Tasks and Notifications in Usages The following table lists all the tasks and notifications dependin
102. escription field 3 Populate the search criteria in the Advanced Search grid provided in Manage Views window A 2 Oracle Financial Services Model Risk Managemet View Profile Reports For more information refer to Advanced Search section 4 Click Save Search The search definition is saved with the populated details and is displayed under Views Search list A 1 2 Wrap Unwrap Item List Wrap Unwrap option in the definition listing windows facilitates the expansion or abridgment of list items in the page You can click the Expand gt gt button to expand the items in a column Such expanded items are wrapped and listed within the confined boundaries of the columns A 2 Export Definitions You can export the definitions using the export functionality This exports the definition details in a spreadsheet and you can save the same in your local computer To export a definition in OFSMRM 1 Select the check box adjacent to the definition you want to export 2 Click Export button The Export Properties dialog box is displayed 3 Set the Document Type as Excel and select the Form Data section Data as section Data 4 Click Export in the Export Properties dialog box When processing is complete the data is displayed in the browser window with a dialog box with save option 5 Click Save button The Save As dialog box is displayed 6 Select a location where you want to save the file 7 Click Save The definition
103. esolved This details the total number of Issues Issues fixed on time and pending Issues in different time frames g Aging of Issues Time run 8 5 2013 4 29 46 PM View Graph mu Ev ua Don aso 0 apo HW aon au en TE EE DO Ot Dom om t 3 E aj gt g gt ig gt qm 0 DA Em E non uu m Bo o zo oo m i a os 7 a o gt lt m O 0 a a a Refresh Print Export 7 2 Oracle Financial Services Model Risk Managemet Reports 7 2 1 3 Additional Reports The following additional reports are also present as part of the Executive Dashboard 7 2 1 3 1 Model by Status Model by Status displays the number of Models present is different workflow statuses You can click the bars of the chart to view the details regarding these Models in each status _ Model by Status t Time run 8 5 2013 5 00 00 PM ount of Models ofits oS ae Bo E SESE p Po segs fe B EE F 5 amp E 2 335 6 go 8p SE E 3 3 8285858 g Be a E 257 P2 ES 3 BES E a E a status Return Edit Refresh Print Export Create Bookmark Link 7 2 1 3 2 Usage by Status Usage by Status displays the number of Usages present is different workflow statuses You can click the bars of the chart to view the details regarding these Usages in each status _ Usage by Status He Time run 8 5 2013 5 00 46 PM 60 Count of Usage E 2 p Ps se ge 25 E P F S o 7 32 22 be oe B82 5 Ss PE pa ca S
104. ework status you can update the Stage Owner and Stage Approver details by clicking the Browse button and selecting the users from the Hierarchy Browser window The Stage Activities details Documents List and Audit Trail details are displayed in the Stages tab To create a new Activity from the Stage Definition Details window perform the following Click the Create New button from the Activities grid The Stage Activities window 1s displayed Select the required activity among the available list of activities from the Choose Activity drop down list Enter the required comments in the Comments field Click the Attach Document button and select a document to upload by providing the Component Type Logical File Name document path and clicking Attach Document button Click Submit in the Stage Activities window Model Management 4 39 Components of Model Management The Activity is saved and is displayed under Actives grid of the Stage Defi nition Details window with the details such as Date By Activity Com ments and Upload details To attach a document to the Stage definition from the Stage Definition Details window perform the following Click Attach Document button from the Documents List grid The Attach Documents window is displayed Populate the form details as tabulated Table 4 13 Field Description The field s marked in asterisks are mandatory Component The component is auto populated as Usage Deve
105. expand the View More section 3 Click Attach Document button from the Document grid The Attach Documents window is displayed 4 Populate the form details as tabulated Table 5 12 Field Description The field s marked in asterisks are mandatory Component This field is auto populated with the component for which the document is being attached and is non editable Type Select the type of the document from the drop down list The available values are Regulation Policy u Documentation a Annexures Logical File Name Enter a name for the file which you are about to upload 5 Click Upload File button The Attach Document dialog box is displayed 6 Select the file to attach by clicking the Browse button from the Choose a file to attach field and selecting the appropriate file 7 Enter the Logical File Name in the Logical File Name field 8 Click Attach File button The selected file is associated with the Action definition You can delete any of these associated documents from the Action definition by selecting the check box adjacent to the document name and clicking Delete Document button 5 4 2 6 5 View WorkFlow History The WorkFlow History section tracks and displays the history of all the changes made to the Action definition This section records every action save or submit and status changes This section facilitates you to track the changes by comparing different actions performed on an Action definitio
106. g on different user roles These tasks and notifications are received by the corresponding users in their Inbox menu on performing a particular action Table 4 4 Action Performed Submitting a Usage Task Update A Task is sent to the Task or Notification Notification Update Received by Usage Owner Usage Owner selected in the Owner field 4 6 Oracle Financial Services Model Risk Managemet Components of Model Management Table 4 4 Cont Task or Notification Action Performed Task Update Notification Update Received by Closing a Usage A Notification is sent Usage Creator to the Usage Creator who created the Model 4 4 Access Model Management You can access the Model Management module from the OFSMRM home screen Mouse over the Model Management tab in OFSMRM application and select either Models or Usage Users mapped to the following user roles can access the Model Management section Creator Owner Analyst Note Model Creator Usage Creator has the rights to create Models and Usages in the Model Management module 4 5 Components of Model Management 4 5 1 Models The Model Management module consists of the following two components Models Usage Models menu under Model Management module navigates you to the Model list Model Creator and Model Owner have access to the Model List screen The list displays only those Models which are either created or owned by the logged in us
107. gged in user An Analyst has access to all the Usages in the Usage List screen The Usages are listed with following details Table 4 11 Tab Name Description Usage ID ID of the Usage Usage Name Name of the Usage Version Version of the Usage Business Line Business Line to which the Usage belongs Category Category of the Usage Usage Owner Name of the owner of the Usage Status Current status of the Usage Last Modified Last modified date of the Usage You can search for a specific Usage or a set of Usages from the Usage Management window For more information refer to Search and Filter section 4 28 Oracle Financial Services Model Risk Managemet Components of Model Management You can send updates regarding the definitions to all the stakeholders by sending emails to them For more information refer to Send Email section You can also export the Usage definitions to a spreadsheet and wrap unwrap Usage definition listing For more information refer to Export Definitions and Wrap Unwrap Item List sections The following actions are possible from the Model Management window Create Usage View Usage Definition Edit Usage Definition Submit Usage for Initial Approval Submit Usage for Approval Submit Usage for Review Attest Usage x Create Issue Usage Details Management Retire Usage a Reinstate Usage Delete Usage 4 5 2 1 Create Usage The Initiate Usage section facilitates the develop
108. gt User Profile Maintenance The User Profile Maintenance window displays the list of available User Groups You can select the check box adjacent to a User Group name to view the Access Rights In the User Profile Maintenance window you can search for an existing user group using Name Code or Modified Date parameters For more information refer to Search and Filter section 6 14 Oracle Financial Services Model Risk Managemet Access Rights You can also wrap unwrap user group listing For more information refer to Wrap Unwrap Item List section From the User Profile Maintenance window you can perform the following Create User Groups Map Access Rights Delete User Group 6 6 1 1 Create User Groups To create a user group from the User Profile Maintenance window perform the following steps 1 Click Create Group button from the Users Groups grid The Group Definition window is displayed 2 Enter the User Group Code This field is alphanumeric and the maximum allowed characters are 300 3 Enter the Name of the User Group 4 Provide a brief Description about the User Group 5 Click Submit button The user group is saved and is displayed under Users Groups grid You can click the User Group hyperlink to view and modify a user group details Note You can only modify the Description of a user group 6 6 1 2 Map Access Rights You can define the access rights for a user group by mapping the
109. h Documents You can attach any documents related to a specific Usage definition There are two ways in which you can associate a document with a Model definition 4 46 Oracle Financial Services Model Risk Managemet Components of Model Management Upload a new document Link an existing document to the Model definition To attach a document by uploading it from the Usage Management window follow these steps 1 Click the Usage ID of a Usage for which you want to upload supporting documents The Usage Management Details window is displayed By default the Definition tab with the basic Usage definition details are displayed 2 Click Documents tab The Documents tab with Documents and Stage Documents grid is displayed 3 Click Attach Document button from the Documents grid The Attach Documents window is displayed 4 Populate the form details as tabulated Table 4 17 Field Description The field s marked in asterisks are mandatory Component The component is auto populated as Model Usage Development as the document upload is being performed for a Usage definition Type Select the type of the document from the drop down list The available values are Regulation a Policy Documentation Annexures Logical File Name Enter a description for the file which you are about to upload Choose a file Choose the file to upload by clicking Browse button and selecting the file 5 Click Attach File To l
110. ich is in In Use status To create a new log information for a Usage definition which is in In Use status follow these steps 1 Click the Usage ID of a Usage to which you want to associate a change log The Usage Management Details window is displayed By default the Definition tab with the basic Usage definition details are displayed 2 Click the Other Information tab The Other Information tab is enabled This tab displays the available change log details under Change Log grid The Other Information tab also displays the Usage ID Usage Name Status Due Date Source Owner Created By and Closed on details 3 By default the Change Log Details form is in editable status Alternatively you can click Create New button to log a change 4 Populate the form details as tabulated below Table 4 16 Field Description The fields marked in asterisks are mandatory ID The ID for a new change log is auto populated This field is not editable Model Management 4 45 Components of Model Management Table 4 16 Cont Field Description Name Enter the name for the change log Source Select the source from the drop down list the available options are 7 Internal 5 External Owner Select the owner of the change log from the Hierarchy Browser by clicking Browse button Due Date Select the due date from the Calendar Status The status of a new change log is always set to Draft This field is not editable Cr
111. ifications from the Workflow Details window follow these steps 1 Select the check box adjacent to the Workflow Stage ID 2 Click Notifications The Notifications grid is displayed 3 Click Create Notification button The Workflow Notifications page is displayed with the details such as Application Name Workflow Function Name and Stage Name Oracle Financial Services Model Risk Managemet Application Preference 4 Populate the form details as tabulated below Table 6 6 Field Description The field s marked in asterisks are mandatory Notification ID Name Sequence Generate Description Access Rights Status Created By Created Date Last Modified By Last Modified Date 5 Click Save button This is an auto populated sequential tracking number assigned to the Notifications This field is not editable Enter the name of the notification This name will be generated in the inbox for the intended users This field is alphanumeric and the maximum allowed characters are 300 Enter the sequence in which you want the notification to be generated Select from the drop down list when to display the notification The available values are On Entry a On Exit On Stage Enter the description for the notification This field is alphanumeric and the maximum allowed characters are 3000 Select the access rights from the drop down list The available values are Single I
112. in the DD MM YYYY format by selecting from the pop up calendar You can navigate to the specific month or year by using the arrow buttons or select using the drop down list When you click the required date the details are auto updated in the date field References A 5 Calendar A 6 Oracle Financial Services Model Risk Managemet
113. iness Lines and category by clicking the Browse button and selecting the required value from the Hierarchy Browser 4 Select the required Business Lines by selecting the check boxes adjacent to the Business Lines 5 Click OK The selected Business Lines are linked to the Model definition and displayed under Recommended Business Area grid of the Model Management Details window From the Recommended Business Area grid you can also select the check box adjacent to a Business Line and perform the following actions Delink a Business Line by clicking the Delink button and clicking OK in the confirmation dialog box Provide the necessary comments under the Comments column and click Save button to save the comments for the Business Unit Revert the comment changes to previously saved value or clear the comments by clicking Clear button before you save the Business Line 4 5 1 9 2 View the Model Usage Details The Model Usage grid in Model Management Details window displays the list of Usages associated with the particular Model definition You can click the button to view the list of Usages 4 5 1 9 3 Link Products You can link the financial elements or products such as equities loans and other finances to the Model definitions To link a financial element to a Model from the Model Management window follow these steps 1 Click the Model ID of a Model to which you want to link the financial elements The Model Managem
114. ing the Browse button and selecting the user from the Hierarchy Browser 5 Select the application as Model Risk Management from the drop down list 6 Select the Questiomnaire type from the drop down list the available options are Basic 6 26 Oracle Financial Services Model Risk Managemet Questionnaire Score Based 7 Select the purpose of the Questionnaire from the drop down list The available options are Model validations Usage Validations 8 Click Save Draft button The Questionnaire details are saved and is displayed under Questionnaire grid 6 10 2 2 Copy Questionnaire You can copy an existing Questionnaire to form a new Questionnaire definition from the Questionnaire Library window To create a new Questionnaire from the Questionnaire Library window follow these steps 1 Select the check box adjacent to the Questionnaire ID 2 Click Copy Questionnaire button from the Questionnaires grid The Questionnaire details are copied and a confirmation message is displayed Click OK The copied Questionnaire is displayed under the Questionnaires grid in Draft status with a new ID 6 10 2 3 Questionnaire Details Management The Questionnaire Details window facilitates you to perform additional actions on the existing Questionnaires You can access the Questionnaire Details by clicking the Questionnaire ID link from the Questionnaire Library window The actions that are possible on a Questionnaire from
115. inition It is mandatory to schedule a validation before Usage can be submitted for approval To send a Usage definition for approval from the Usage Management window perform the following actions 1 Click the Usage ID of the Usage definition which is to be sent for approval The Usage definition details are displayed 2 Click Submit for Approval button 3 The Usage Approval dialog box is displayed 4 Select the Approver by clicking Browse button and selecting the user from Hierarchy Browser window 5 Enter the required comments in Comments field 6 Click Submit The Usage definition has been submitted for approval 4 5 2 6 Submit Usage for Review A Usage created by Usage Creator has to be moved to In Review by analyst for any minor updates in Usage definition or change in validation schedule Any change to Usage in In Review status can be done only by Analyst 4 34 Oracle Financial Services Model Risk Managemet Components of Model Management Note Submitting a Usage definition for review prevents the creation of Scheduled validation task until review is complete To mark a Usage definition for review from Usage Management window 1 Click the Usage ID of the Usage definition which is to be marked for review The Usage Management Details window is displayed 2 Click In Review button A confirmation dialog box is displayed 3 Click OK The Usage definition is submitted for review and the statu
116. inition which is to be edited The Action Details window is displayed 2 Click the Edit button from the Details tab Note An Issue Owner can edit all the fields except ID Progress and Actual Cost when the Action is in Draft status An Action Owner can edit all the fields except ID Owner Start Date Target Date Business Line and Category of an Action which is in Open status For more information refer to Create Action section 3 Once all the necessary details are updated click Update button to save the Action definition The Action definition details are updated You can alternatively click Submit button to submit the updated definition to the Action Owner for taking further actions Oracle Financial Services Model Risk Managemet Components of Issues and Actions 5 4 2 3 Transfer Action Ownership If you are an Action Owner you can transfer the ownership of an Open Action to another user who also has Action Owner role assigned To transfer the ownership of an Action follow these steps 1 Select the check box adjacent to the Action ID of the Action of which you want to transfer the ownership 2 Click Transfer Ownership button The Ownership Transfer window is displayed 3 Populate the details in the form as tabulated below Table 5 9 Field Description The field s marked in asterisks are mandatory Name Displays the name of the Action ID Displays the ID of the Action Present
117. ink an existing document to the Usage definition from the Documents tab of the Usage Details Management window follow these steps 1 Click Link button The Document window with the currently available documents list is displayed These documents are displayed with their ID Name Version Type and Status details 2 Select the check box adjacent to the ID column and click Link button The selected document is linked to the Usage definition You can delete any of these associated documents from the Usage definition by selecting the check box adjacent to the document name and clicking Delete button 4 5 2 9 9 Audit Trail The Audit Trail section tracks and displays the history of all the changes made to the Usage This tab records every action save or submit and status Model Management 4 47 Components of Model Management changes This section facilitates you to track the changes by comparing two Actions performed on a Usage definition To view the audit trail details of a Usage from the Usage Management window follow these steps 1 Click the Usage ID of a Usage of which you want to view the audit trail details The Usage Management Details window is displayed By default the Definition tab with the basic Usage definition details are displayed 2 Click Audit Trail tab The Audit Trail tab is displayed with the history of Actions of the selected Usage definition The Audit Trail displays the details such as Date and Tim
118. ions possible from the Workflow Manager window are the following Create Workflow Copy Workflow a Deactivate Workflow 6 5 1 1 Create Workflow You can create Workflows for any of the selected Workflow Functions from the Workflow Manager window To create a new Workflow for a Workflow Function from the Workflow Manager window follow these steps 1 Select the Application name and the corresponding Workflow Function from the drop down lists under Workflow grid The available Workflows for the selected Application and Workflow Function are displayed under Workflows grid 2 Click Create Workflow button from the Workflows grid The Workflow Details window is displayed pal Workflow Manager Windows Intemet Lplorer ORACLE Model Risk Management Tom Barely 1 Friday August 2 200 Mame Inbox Medel Management laduta amp Actions Dashboard fdin Langer ER Wir Detalla Help Hew Applicabon Mame Model Risk Management Works Func sa Marne Workiiow i 7 4123480 Harris Model Management Desciplion M d l M nag mera Dacie Dale 01 43 2013 al Es mr Ho Iuenisesa Lina Default Es All Comments Model Management Ti Co ied Ey Created Date Lasa Bodied E Lal Modied Dale L Local intranet Protected Mode 0H ee 3 Populate the Workflow Details form as tabulated below Table 6 3 Field Description The field s marked in asterisks mandatory Admin 6 5 Application Prefer
119. is active only if you have selected Replacement Recalibration or Redevelopment in the Development Objective field Enter the name of the Model developer Select the primary Business Line from the Hierarchy Browser window by clicking the Browse button Select the primary Category of the Model from the Hierarchy Browser window by clicking the Browse button Select the user who owns the Model from the Hierarchy Browser window by clicking the Browse button Select the user who is the Business Unit Head from the Hierarchy Browser window by clicking the Browse button Model Management 4 9 Components of Model Management 4 10 Table 4 6 Cont Field Criticality Valid Till Requires Attestation Attestation Frequency Target Date Regulation Description Select the criticality of the Model under development to the business This indicates the impact of the Model in the business The available options are Very Low Low Medium High Very High Select the validity of the Model from the Calendar by clicking the date picker This indicates the validity of the Model This field indicates whether the Model requires attestation or not Models are attested by the Model Owner or the Business Head to affirm and confirm the working relevance and use of Model for its intended business Select Yes if the Model requires attestation Select the attestation frequency from the drop down list The a
120. ked to the Issue definition from the Issue Details window if you are the owner of the Issue The Link Action section enables you to link Actions which are existing in the system To link an Action to an Issue definition from the Issues window follow these steps 1 Click the Issue ID of the Issue definition to which you want to link an Action The Issue Details window is displayed 2 Expand the View More section by clicking the button 5 12 Oracle Financial Services Model Risk Managemet Components of Issues and Actions Click Link button from the Actions grid The Action Search window is displayed You can search for a particular Action from this window using Action ID Name Business Line Location Progress From Progress to Owner Target Date from Target Date to Last Modified Date from or Last Modified Date to information For more information refer to Search and Filter section Select the check box adjacent to the Actions which you want to link to the Issue Click Link button The selected Actions are linked to the Issue definition From the Actions grid you can also select the check box adjacent to an Action and perform the following Click the Delink button to dissociate a previously linked Action from the Issue Click Delete Action button to remove the Action which has been created for the Issue if you are the Action Owner You can delete only those Actions which are in Draft status 5 4 1 7 3 Attach Do
121. l Appiaed UE LINK l MEW Notify Approval Model Approved i la This is iwi z Moby ADGA Mod l Appa Tasks t High Risk Usage El inbox 0 112 Uerarap Y Tire run 39 7013 6 09 AH Task isme Cue Dario iad Ho Data Found b l a a fi Era F Gk Local intranet Protected Mode OH j 10 This view displays the reports in left pane Announcements at the center and Task and Notification line items at the right pane 2 2 Home Window The OFSMRM Home window display is dependent on the privileges assigned to you The Home window displays four reports They are the following High Risk Models and Usage Issues amp Actions for Models Models amp Usage by Business Line Status of Models and Usages The View Reports are available in left and right panes of the Home window for an Admin user For other users the right pane displays the task and notification line items You can select the reports from the drop down list 2 2 1 High Risk Models and Usage The High Risk Models and Usage reports provide you the number of Models which are of high risk among different Business Lines such as Clearing Retail Banking Wholesale Banking Division and All 2 2 2 Issues amp Actions for Models The Issues amp Actions for Models report displays the number of Issues associated with different Business Lines such as Network and Advisory Sales Retail Finance Wholesale Banking and Wholesale Banking Division and the cost as
122. l rer all Stage Slate Criticality Walii Tal Requires Atbesin tc Arestation Frequency Target Dabe Megulzbon Mavalaped iy Marhodelagy Tier Reposilory Foes richer on Ub iim pits Limi Comenani HE TS EE ed TH E Local mihiari Protected Miadi O HINS The saved Usage is displayed in the Usage Management window You can click the Usage ID link to view the details The Status of a saved definition changes to Draft and is displayed on the top right corner of the Model Management Details window 4 5 2 2 View Usage Definition A pre defined Usage definition can be viewed from the Usage Management window To view the details of a pre defined Usage definition from the Usage Management window Click the Usage ID of the definition you want to view The Usage Definition details are displayed in Usage Management Details window 4 5 2 3 Edit Usage Definition You can edit a saved Usage definition created by you and is in Draft In Review or In Development status from the Usage Management window Analyst can edit a saved Usage definition if it is in In Development status To edit a Model definition from the Usage Management window follow these steps 1 Click the Usage ID of the Usage definition which is to be edited The Usage Management Details window is displayed 2 Click the Edit button from the Definition tab Note You can edit all the fields of a Usage definition which is in Draft status and all the fields except Usage ID
123. languages You can access the User Interface Language Manager by navigating to Admin gt User Interface Language Manager from OFSMRM Home screen User Interface Language Manager allows updating existing labels in the application in the default language English You can change the language of the following Ul components screens Containers Fields Messages To change the language of an above component from the User Interface Language Manager window from the follow these steps 1 Select a user interface component from the LHS menu The respective Search Details and Language Manager grids are displayed You can use the Search functionality to locate a specific component in the User Interface Language Manager window For more information refer to Search and Filter section 2 Select the check box adjacent to the Form Code Screen Code Field Details or Message Details column depending on the component selected The Language Manager grid is displayed with the available language details 3 Select the check box adjacent to the required language and update the details 4 Click Save button The language details are updated for the selected component 6 9 Document Upload The Document Upload section uploads and holds the documents uploaded from and required to be used in various modules of the OFSMRM application You can search for a specific document or a set of documents from the Document Upload window using the pa
124. lated with the name of the Person who has created the Workflow This will be populated with the date on which the Workflow was created This field is populated with the user name who last modified the Workflow This field will be populated with the date on which the Workflow was last modified 4 Click Save Draft button The Workflow is saved and is displayed under Workflows grid 6 5 1 2 Copy Workflow You can copy the details of an existing Workflow to create a new one To copy a Workflow from the Workflow Manager window follow these steps 1 Select the Application name and the corresponding Workflow Function from the drop down lists under Workflow grid The available Workflows for the selected Application and Workflow Function are displayed under Workflows grid 2 Select the check box adjacent to the Workflow which you want to copy 6 6 Oracle Financial Services Model Risk Managemet Application Preference 3 Click Copy Workflow button The Workflow Manager Copy window is displayed 4 Populate the form details For more information refer to Create Workflow section 5 Click Copy button The Workflow details are copied and is displayed under Workflows grid 6 5 1 3 Deactivate Workflow You can deactivate a workflow which is in Active status if it is no longer required in the system To deactivate a workflow from the Workflow Manager window follow these steps 1 Select the Application name and the corre
125. layed 2 Click the Edit button from the Details tab Note You can edit all the fields except Issue ID of an Issue definition which is in Draft status For more information refer to Create Issue section 3 Once all the necessary details are updated click Update button to save the Issue definition The Model definition details are updated You can alternatively click Submit button to submit the updated definition to the Issue Owner for taking further actions 5 4 1 4 Transfer Issue Ownership If you are an Issue Owner you can transfer the Issue ownership to another user who also has Issue Owner role assigned Only the ownership of those Issues which are Open status can be transferred To transfer the ownership of an Issue follow these steps 1 Select the check box adjacent to the Issue ID of the Issue of which you want to transfer the ownership 2 Click Transfer Ownership button The Ownership Transfer window is displayed This window displays the Issue Name Issue ID and Present Owner details 3 Select the new Owner name by clicking the Browse button and selecting the user name from the Hierarchy Browser 4 Enter the additional remarks regarding the Issue or the Issue ownership transfer 5 Click Submit button The Issue ownership has been updated 5 8 Oracle Financial Services Model Risk Managemet Components of Issues and Actions You can also transfer an Issue ownership from the Issue Det
126. layed Expand the View More section by clicking the button Further expand the Source section by clicking the button Link the Model sources by clicking the Link button and selecting the source members from the Hierarchy Browser window The selected members are displayed under Input grid From the Input grid you can also select the check box adjacent to a member and perform the following actions Delink a member by clicking the Delink button and clicking OK in the confirmation dialog box a Provide the necessary comments under the Comments tab and click Save button to save the comments for the member Revert the comment changes to previously saved value or clear the comments by clicking Clear button before you save the member You can link the upstream Model source details from the Source section An upstream Model is the Model from which the data inputs are used in the current Model To link an upstream Model follow these steps 1 Link the upstream Models by clicking the Link button The Upstream Models window is displayed In the Upstream Models window you can search for a set of Models using the Model ID Model Name Version and Model Owner details For more information refer to Search and Filter section The Model List grid in the Upstream Models window displays only those models with the same Business Line and Category of the Model under development Select the required Models by selecting the check box
127. le Reports section 4 5 2 9 1 Define Source Details Source section in Usage Management Details window fetch the Usage source and Usage upstream details of a Usage definition To link the Usage source details from the Usage Management window follow these steps 1 Click the Usage ID of a Usage to which you want to link the input details The Usage Management Details window is displayed By default the Definition tab with the basic Usage definition details are displayed 4 36 Oracle Financial Services Model Risk Managemet Components of Model Management Expand the View More section by clicking the button Further expand the Source section by clicking the button Link the Usage sources by clicking the Link button and selecting the source members from the Hierarchy Browser window The selected members are displayed under Input grid From the Input grid you can also select the check box adjacent to a member and perform the following actions Delink a member by clicking the Delink button and clicking OK in the confirmation dialog box Provide the necessary comments under the Comments tab and click Save button to save the comments for the member Revert the comment changes to previously saved value or clear the comments by clicking Clear button before you save the Source details To link the upstream Usage source details from the Source section follow these steps 1 Link the upstream Usages by clicking
128. lick Create New button to log a change 4 Populate the form details as tabulated below Table 4 9 Field Description The fields marked in asterisks are mandatory ID The ID for a new change log is auto populated This field is not editable Name Enter the name for the change log Source Select the source from the drop down list the available options are 7 Internal External Owner Select the owner of the change log from the Hierarchy Browser by clicking Browse button Due Date Select the due date from the Calendar Status The status of a new change log is always set to Draft This field is not editable Created By This field is populated with the name of the user who creates the change log This field is not editable 4 24 Oracle Financial Services Model Risk Managemet Components of Model Management Table 4 9 Cont Field Description Created On This field is auto populated with the current date This field is not editable Description Enter a description about the change log Closing Note This field is not editable when you create the change log draft Once saved as draft you can enter the closing note and submit the change log Note This field is active only if you have Change Owner role assigned 5 Click Save as Draft to save the draft and submit later for approval The change log is saved in Draft status Or Click Submit to submit the change log for approval The change log is save
129. licking the Add Option button and entering the option in the Response Options field You can also select the check box adjacent to the Response Options field and edit an existing option or click Delete Options button to remove an unwanted option The Question will be displayed as shown in the following example Question 1 What is the capital of America Select the correct option Select between 0 to 100 101 to 1000 1000 to 1999 6 Click Save Draft button The Question details are saved and is displayed under the Questions grid of the Question Library window with Draft status 6 10 1 2 Copy Question You can copy an existing Question to form a new Question definition in the Questions Library Page To create a new Question from the Questions Library page follow these steps 1 Select the check box adjacent to the Question ID 2 Click Copy Question button from the Questions grid The Question details are copied and a confirmation message is displayed Click OK The copied Question is displayed under the Questions grid in Draft status with a new ID You can access Copy Question functionality from the Question Details window as well 6 10 1 3 Question Details Management The Question Details window facilitates you to perform additional actions on the existing Questions You can access the Question Details by clicking the Question ID link from the Question Library window 6 24 Oracle Financial Services Model Risk Ma
130. lidation of a Usage from the Usage Management window if all the linked Stages of the Usage definition are approved The validation can be scheduled only for those Usages which are in In Development Rejected and Rework and In Review status To schedule validation of a Usage from the Usage Management window follow these steps 1 Click the Usage ID of a Usage to which you want to schedule a validation The Usage Management Details window is displayed By default the Definition tab with the basic Usage definition details are displayed 2 Click Validation tab The Validation tab is enabled The Validation tab displays the Usage ID Usage Name Status Version Usage Owner and BU Head details 3 To schedule the validation of the selected Usage click the Schedule New button from the Scheduled Validation grid The Usage Validation window is displayed 4 Populate the form with the necessary details as tabulated below Table 4 14 Field Description The fields marked in asterisks are mandatory Model Management 4 41 Components of Model Management Table 4 14 Cont Field ID Type Validation Start Date Prior Notification Frequency Validation End Date 5 Click Save Description The ID of the validation is auto populated and this field is not editable Select the type of the validation from the drop down list The available values are Back Testing Control Evaluation of the COnc
131. lization of a new Model To develop a new Model from the Model Management window 1 Click Initiate Model button from the Model Management window The Model Management Details window is displayed ORACLE Model Risk Management Tom Barety Thuraday Neweember 74 3013 Heme in sx ModelMansgerment lesues A Achas Admin Dashboard Model gt Mode gt Help Sah Hew beeches e aia E save As Dei Ef Canel Model ID 11240440 Version 11 Model Hare Atirition Model Descrip Tris Medal analyses thacusiomes airmen raie 29583 Source in House Dewelopmant Object pree Preceding Meds iD Divvalegnel My Business Lime Piiale Banking a Calogory Credit Risk see e Mode amer Tam Hardly 2 BU Hrad By Head 45 Be Criticality High Wald Till 0 Hoe3014 E Requires Albestabion ves Mo Ablestation Frequency Hal Year Target Dat 31 Jan 2014 LAs Regulation MiFID BASEL s Melsodology Pah alical gt Model Ter Tiar Twp Hepository Ranbrieni n sm loa Hone 2996 ASSL pPRoae Mis assumed hal the cution chuen ie minimal 251 Knowa Limina Hana 20406 Commani Suede All righis reserved Ll Local intere Protected Mode 0 a 1 4 8 Oracle Financial Services Model Risk Managemet Components of Model Management The default Status of a new Model is New 2 Populate data in the fields as tabulated Table 4 6 Field Description The fields marked in asterisks are mandatory Model ID
132. lopment Stages as the document upload is being performed for a Stage definition Type Select the type of the document from the drop down list The available values are Regulation a Policy Documentation E Annexures Logical File Name Enter a description for the file which you are about to upload Choose a file Choose the file to upload by clicking Browse button and selecting the file Click Attach File The selected document is uploaded and is displayed under Documents List grid with the details such as Document Name Document Version Docu ment Type Activity By and Date amp Time You can select the check box adjacent to a document and click the Delete button to remove a document The Audit Trail grid displays the history of actions performed on the Stage definition with the details such as Date and Time Action Action By and Status Click the List Stages button at the top right corner of the Stage Definition Details window to navigate back to the Stage list window From the Stages tab you can also select the check box adjacent to a Stage ID and perform the following actions Delink a Stage by clicking the Delink Stage button and clicking OK in the confirmation dialog box Note You can delink only those Stages which are in Draft status Assign Approver and Owner role by clicking Assign Approver Owner button and selecting the users from the Hierarchy Browser window 4 40 Oracle Financial S
133. low will not proceed until all the users of task have worked on it Select Yes if the Workflow Stage is user based and No otherwise If you have selected Yes all the tasks assigned to the user get completed for a particular Stage irrespective of the role code Enter the condition to be satisfied to reach this Workflow Stage You can set SOL procedures as Pre Condition 6 8 Oracle Financial Services Model Risk Managemet Application Preference Table 6 4 Cont Field Description Post Condition Enter the condition to be reached to leave the Workflow Stage and move to the next You can set SQL procedures as Post Condition Comments Enter any additional information comments related to the Workflow Stage Level Enter the level in the Workflow hierarchy to which this Stage belongs to Created By This field is auto populated with the name of the user who created this Workflow Stage Created Date This field is auto populated with the date on which the Workflow Stage is created Last Modified By This field is auto populated with the name of the user who modified the Stage Last Modified Date This field is auto populated with the date on which the Workflow Stage is last modified 3 Click Save button The Workflow Stage is saved and is displayed under Workflow Stages grid 6 5 2 2 Edit Workflow You can edit the details of an existing Workflow in Draft status from the Workflow Manager window To edit the Ques
134. lyst Approver Usage Owner Issue Owner Issue Creator Action Owner Administrator The roles and functions of the above users have been detailed in the following chapters Documentation Accessibility For information about Oracle s commitment to accessibility visit the Oracle Accessibility Program website at http ww oracle com pls topic lookup ctx accgid docacc Access to Oracle Support Oracle customers have access to electronic support through My Oracle Support For information visit http www oracle com pls topic lookup ctx acc amp id info or visit http www oracle com pls topic lookup ctx acc amp id trs if you are hearing impaired Related Documents For more information see the following documents in the Oracle Financial Services Model Risk Management Release 2 documentation set Oracle Financial Services Model Risk Management 2 0 0 0 0 Release Notes vii a Oracle Financial Services Model Risk Management 2 0 0 0 0 Installation Manual Conventions The following text conventions are used in this document Convention Meaning boldface Boldface type indicates graphical user interface elements associated with an Action or terms defined in text or the glossary italic Italic type indicates book titles emphasis or placeholder variables for which you supply particular values monospace Monospace type indicates commands within a paragraph URLs code in examples text that appears on the screen or
135. ment creation of a new Usage To develop a new Usage from the Usage Management window 1 Click Initiate Usage button from the Usage Management window The Usage Management Details window is displayed ME Usage Management Detail lt Window Internet Explorer tt i ES ORACLE Model Risk Management Tom Purely Thurs Gay crvemiver M 20415 Heme Inbox Mel Management laswes A Actions Admin Dashboard Ussges gt gt ge f Wise Urlati E save As ban E cancel Usage ID Aes 56 Versi n 11 Usage More Attrition Usage Descapiion Tres u ao is created Ro aail e Md ameh AG Medel 2032 Saee Fin Mouse Devalogeneni Objectve ALTER Preceding Usage ID Model 1D aIr de am Business Lise Pirate Banking AF Category Creat Risk ee De Usage Omer y Tom Harely THU esd Bi Head Criticality High Wald Tal 30 204 rs Requires Albes la face Yes Mo A estab n Hrequency Hal Yoa Target Date EEE 2014 CAF Aequivtbon MFTO BASEL Uih Eby Methodology Tatanta se Tier Tier Tao a Reposiory Resbrichon an Use None 796 Assumploas Hong 2096 Kien Lenia Hong Semele All rights reserved FH 4 local intere Protected Mode 0 gt RIA The default Status of a new Usage is New Model Management 4 29 Components of Model Management 4 30 2 Populate data in the fields as tabulated below Table 4 12 Field Description The fields marked in asterisks are mandatory Usage ID Ver
136. mponent Ganeral Ganaral Ganaral General General General General General General G n r l General Ganeral Ganeral Hame Hierarchy Type Merarci Type Singha Level biti L eset Single Laval Sr Level Single Level nie Liewel Erge Levi Erge Level Brg Level Sigi L ea Singit Lene Sigis Level Si m Laval ii Local mirana Peobected Made HI You can search for a specific reference data element from the Reference Data Management window using Code Name Component or Hierarchy Type details For more information refer to Search and Filter section z Tom Marety Friday August a2 20 iiep EUA F You can also wrap unwrap reference data definitions listing For more information refer to Wrap Unwrap Item List section Following are the pre defined reference data elements available in this version of the OFSMRM application Table 6 1 Code Name Component Hierarchy Type MRMACT Action List General Single Level HREF001 Business Line General Multi Level HKBD003 Category General Single Level MRMCHGO1 Change Log Source General Single Level MRMCRIO1 Criticality General Single Level MRMDEVO1 Development General Single Level Objective HRDOC Document Type General Single Level MRMMETH Methodology General Single Level MRMPROD Products General Single Level MRMREGO1 Regulation General Single Level HRSRINP Source and Input General Single Level MRMSTGO01 Stages General Single Level HMODVAL1 Validation
137. n To view the WorkFlow History details of an Action from the Actions window follow these steps 1 Click the Action ID of an Action of which you want to view the workflow history details The Action Details window is displayed Issues and Actions 5 21 Components of Issues and Actions 2 Click button to expand the View More section 3 Further expand the WorkFlow History grid by clicking the button The WorkFlow History grid displays the history of Actions of the selected Action definition The WorkFlow History displays the details such as Last Modified date Last Modified By Status Comments and Action Comments If there are more than one workflow history items present for an Action you can compare them by selecting the check boxes adjacent to the items you want to compare and clicking Difference button from the WorkFlow History grid 5 4 2 6 6 Associate Issues The Associate Issues tab in an Action definition displays the Issues to which the particular Action is created for and linked This tab displays the Action Name Business Line to which the Action is linked Location Component and Primary Source details of the Action definition along with the Issue details such as ID Name Component Issue Category Creator Owner Actual Cost Actions Target Date Status and Last Modified Date 5 22 Oracle Financial Services Model Risk Managemet Admin 6 1 Overview Administration is an integral part of OFSMRM sy
138. n Single you can add only one role Users of a specific role can be selected and rules can be mapped for those users Multi In Multi multiple roles can be added and branching of users can be done Rules can be added from the repository to choose which role should be given notification access based on defined conditions User Defined In User Defined the behavior is as defined from the front end Default Access Default Access overrides all conditions of that Workflow and provides Stage access to the selected role Select the status of the notification from the drop down list as Enable or Disable This field is auto populated with the name of the user who created this notification This field is auto populated with the date on which the notification is created This field is auto populated with the name of the user who modified the notification This field is auto populated with the date on which the notification is last modified The notification is saved and displayed in Notifications grid Admin 6 11 Application Preference 6 12 You can click the Notification ID hyperlink to view and edit the notification details in the Workflow Notifications window From this window you can also perform the following Map arole to the notification by clicking the Map Role button from the User Roles grid The grids are displayed depending on the selection of Access Rights in the Notification Note Y
139. n from the Actions grid The Action Details window is displayed E Action Detail Window Itema Explorer u a o ia 3 Tom Haret day dusguet dd 2003 ORACLE Model Risk Management amtet Thursday Asguet dd 2043 Hone Mbit Model Management lasus E Act ns Admin Dashboard fone FE i lets gt Acton Geiss Helg Hew De E Save Ors ET Sub NEMA MAA iesi ahiri i Descrip he tha T ranen z354 Cribcality Medium Cmar Tom Haney gt Star Dane Jiu Y Targa Daie dd ug 4014 5 Ber dertdags Pros Estimadas Los LED 15000 Actes Cost Component Middel Primary Source LINK a oF e Lise Network and Adison Salas an By Calegory Market Risk miS als rH E Local mirana Peobected Made CHF a 10 5 10 1 Populate the form details as tabulated below Table 5 6 Field Description Field s marked in asterisks are mandatory Oracle Financial Services Model Risk Managemet Components of Issues and Actions Table 5 6 Cont Field Name ID Description Criticality Owner Start Date Completion Date Reminder In Days Progress Estimated Cost Actual Cost Component Primary Source Description Enter the Name of the Action This field is alphanumeric and the maximum allowed characters are 300 Displays the sequential tracking number assigned to the Action This field is not editable Enter a brief description about the Action This field is alphanumeri
140. nagement window follow these steps 1 Click the Usage ID of a Usage definition which you want to reinstate The Usage Details window is displayed 2 Click Re Instate Model button The Usage Approval window is displayed 4 48 Oracle Financial Services Model Risk Managemet Components of Model Management 3 Select the Usage Approver by clicking the Browse button and selecting the user from the Hierarchy Browser window 4 Provide the necessary comments 5 Click Submit button The Usage definition has been marked for reinstation and submitted to the selected Usage Approver for approval 4 5 2 12 Delete Usage Usage definition s which are in Draft status and no longer required can be deleted from the list To delete Model definition s from the Usage Management window 1 Select the check box adjacent to the Usage ID of the definition you want to delete Note You can delete a Usage definition which is not linked or referenced elsewhere In case the Usage definition is linked or referenced you have to delink or remove the reference of the Usage definition and try again 2 Click the Delete button The confirmation dialog box is displayed 3 Click OK button in the confirmation dialog box The selected draft Usage definition is deleted and a confirmation message is displayed Model Management 4 49 Components of Model Management 4 50 Oracle Financial Services Model Risk Managemet s Issues and
141. nagemet Questionnaire The actions that are possible on a Question from the Question Details window are the following a Edit Question Submit Questions for Review 6 10 1 3 1 Edit Question You can edit the details of an existing Question in Draft or In Review status from the Questions Library window To edit the Question definition details from the Questions Library window follow these steps 1 Click the Question ID hyperlink of the Question definition which you want to edit The Question definition details are open for edit 2 Edit the details as required You can edit the Question Description Category and Response Options Note Fora Question definition in In Review status only the Display Type information can be changed For more information refer to Create Question section 3 Click Update button The Question definition details are saved with updated details 6 10 1 3 2 Submit Questions for Review You can send Questions which are in Open status for review To send a Question for review from the Questions Library window follow these steps 1 Click the Question ID hyperlink of the Question definition which you want to send for review The Question definition details are displayed 2 Click the Review Question button Note Reviewing the Question moves all the Questionnaires using the specific Question to In Review status These Questionnaires will not be available for assessment process
142. nt through stages On approval of all development pa s submit for final approval Validations have to be scheduled by the Analyst before the Model can be submitted for approval Verification amp Approval of Usage by Usage Approver eview Model and make necessary changes Approve Usage is deployed in business area validation and monitoring of usage Review Usage by Usage Creator aa i Faz Recommendto Retire Usage by Analyst E To d TRA Retire Usage by Approver Rejected _____ s Approve E E i gt Usage is retired im _ Role Usage Creator RR Recommend Reinstatement of Usage by Analyst Rejected erre Approved ie 7 Re Approval of Reinstate ment of Usage by Analyst yor New Draft Pending Initial Approval Developm ent Pending Approval Rejected 8 Rework Pending Retire Approval Retired Retired Pending Reinstatement Approval Model Management Model and Usage Management Workflow 4 2 3 Validation The following figure depicts the workflow of a Validation G oO gt oO ag o oO fed S o fed O eat 0 wn K o lt gt gt a lt a S gt jo jo a O lt oO cm xN gt eat O oa oO gt oO ES fed ae oO a n Validate Model Usage Verification Approval of Validation by Validator Approver w E a
143. o an Issue definition for its further usage The Issue Details window allows you to perform these actions The Actions that are possible on an Issue from the Issue Details window are the following Create Action Link Action a Attach Documents View WorkFlow History Issues and Actions 5 9 Components of Issues and Actions Delete Actions Issue Linkages You can download the profile report of an Issue definition which provides all the details associated with the selected definition For more information refer to View Profile Reports section 5 4 1 7 1 Create Action When an organization wants to record recommended Action plans to address a particular Issue that has occurred they can create Action plans either from Issues and Actions module or from other modules in the application Users mapped to the role of Issue Owner Action Creator can create Action plans directly or create Action plans for a manually created Issue depending upon the preferences set in the Admin module Note Only Users mapped to the role of Issue Owner Action Creator can create new Actions for an Issue To create an Action plan for a manually created Issue from the Issues window follow these steps 1 Click the Issue ID of the Issue definition in Open status for which you want to create an Action The Issue Details window is displayed 2 Expand the View More section by clicking the button 3 Click Create Action butto
144. o retrieve information regarding a set of Models you can provide details such as Model ID Model Name Version or Model Status and click Go button ed Search amp Views Y Clear gt Go Model ID Version Model Name Model Status y The definitions that match the search criteria are displayed in the Model Management window A 1 1 2 Advanced Search Advanced search offers the same search fields as provided for a regular search along with an expanded set of additional fields If you know most of the details such as References A 1 Workspace Options Category Owner Last Modified Date and so on then you can filter the records using the Advanced Search components Example A 2 Advanced Search If you are in Model Management window and want to retrieve information regarding a set of Models you can provide details such as Model ID Model Name Business Line Count of Usage select the appropriate operators from the drop down list Validation Type Target Date select the appropriate operators from the drop down list Last Modified select the appropriate operators from the drop down list Version Model Status Category Model Owner Criticality or Model Tier and click Go button El Advanced Search ER Search RQ Views Clear Save gt Go Model ID Version Model Name Model Status Business Line Category Iz gt Count of Usage gt x Model Owner lara
145. oard menu The available reports in Oracle Business Intelligence Enterprise Edition OBIEE are displayed For more information on OBIEE refer to Oracle Business Intelligence Enterprise Edition end user documents at http www oracle com technetwork middleware bi foundation documentation bi apps 098545 html 7 2 Reports The following Dashboards are available as part of OFSMRM application 7 2 1 Executive Dashboard The Executive Dashboard of OFSMRM includes few basic reports available You can select a Business Line and Category to view the details High Risk Models High Risk Usage Models by Regulation Usage by Regulation Current Vs Previous Model Validation Rating Current Vs Previous Usage Validation Rating Dashboard 7 1 Reports Aging of Model Issues Aging of Usage Issues a Model Validation Heat Map Usage Validation Heat Map Additional Reports Model by Status Usage by Status 7 2 1 1 Aging of Model Issues This report provide you a detailed view of the number of Issues which have Model Issues pending to be resolved This details the total number of Model Issues Model Issues fixed on time and pending Model Issues in different time frames gl Aging of Model Issues Time run 8 5 2013 4 29 46 PM View Graph m Refresh Print Export 7 2 1 2 Aging of Usage Issues This report provide you a detailed view of the number of Models which have Issues pending to be r
146. odel Pepeced for Rework Own hip Transler Sint ranlemred lo you Cn r tip Translor gt 15518 tran sdemed bo you Reques Reinslalement Model Pending Re Ragatt Approval Model Pending for agp Recpened Hige Sage of a Model reopened Request Agproval for Platine Model Pending The following details are associated with these Dashboard Entity Mante For vabdabon check beer not touch piil Crnom m a a La Caem m a a a Caa modidddddddddddddddd Lee Model crested on bom Cal sanem This la for teeing e MRM Thig le der testing th Usage Weage tor testing developmen Usage Usage Usage Usage Uenga This wil be rejected dos iawiik Une MDL DO Le This ls for testing ive MRM This is fr testing th DE Y Sanity es Entity Status In Lee In Lee in Liso in Development in Lee In Lise Open Open Rejected and A Open in Lie In Lee i Le in Liza In Lee Ritjpetted and A Open Open Pending Reinsi Pending Approval In Development Pendn Retire Que Date render Ey Open Tasks are listed with the following details Table 3 1 Haced On An 20013 ES od dS Rig 2013 27 43 2013 o rl Ao 20011 oP Ae eS D6 4g 3013 26 43 2013 26 Aug 2013 5 21s A 03 bag 013 26 43 2013 26 Aug 2013 A 2011 A eS bag 03 26 43 2013 2d A3 2013 144092013 l Local intranet Pretected Mode Cat Tom Manet Thureday Awguat 29 2043 I N Tab Task ID Name Entity Name Entity
147. on To delete a document from the Document Upload window se follow these steps 1 Select the check box adjacent to the document ID under the Documents grid 2 Click Delete Document button 3 Click OK in the confirmation dialog box The document is deleted from the list 6 10 Questionnaire The Questionnaire section in Admin module of OFSMRM facilitates you to create Questions to determine the stability and efficient performance of Models The Questions can be created and they can be grouped to form Questionnaires The Questionnaire section consists of the following two sub sections Questions Library Questionnaire Library 6 10 1 Questions Library The Questions Library allows you to create and manage Questions to be used to determine the stability of Models You can navigate to Admin gt Questionnaire gt Questions Library from the OFSMRM Home screen to access Questions Library window Various types of Questions such as Single Choice Multiple Choice Free Text Number and Range can be created from this section The Question definitions are displayed with details such as ID Question Category Question Type Display type Questionnaires Status and Last Modified date information You can search for a Question or a set of Questions from the Question Library window For more information refer to Search and Filter section Admin 6 21 Questionnaire The following actions are possible from the Questions Library win
148. on definition listing For more information refer to Export Definitions and Wrap Unwrap Item List sections The following Actions are possible from the Actions window Issues and Actions 5 15 Components of Issues and Actions 5 16 View Action Definition Details Edit Action Definition Transfer Action Ownership Force Closure of an Action Reopen Closed Action Action Details Management You can download the profile report of an Action definition which provides all the details associated with the selected definition For more information refer to View Profile Reports section Note Actions can be created only from the Issues section For more information refer to Create Action under Issues section 9 4 2 1 View Action Definition Details A pre defined Action definition can be viewed from the Actions window To view the details of a pre defined Action definition from the Actions window Click the Action ID of the definition you want to view The Action definition details are displayed in Action Details window 5 4 2 2 Edit Action Definition You can edit a saved Action definition created by you and is in Draft or Open status from the Actions window Editing an Action definition facilitates the population of additional details and further actions after the creation of an Action To edit an Action definition from the Actions window follow these steps 1 Click the Action ID of the Action def
149. on of Models Misuse of or overreliance on Models Fundamental errors in the design of Models Unauthorized and incorrect changes to the Models The OFSMRM application enables financial institutions to record all the information related to the Models to obtain an enterprise wide view The application facilitates in scheduling validations in order to evaluate and assess the performance and the various risks associated with the Models The OFSMRM also enables the organizations to monitor Model performance identify risk and plan Actions to mitigate risk Features of Model Risk Management are Model Risk Management 1 1 Components of OFSMRM A central repository of all Models in a Financial Institution A central repository of Model Usages A framework to support logging Model and Usage Development ideas and tracking all activities involved in building Model and Usage through discussion and approval process Ability to record validation results along with documentations Ability to raise and track Issues on Model and Usage and Action plans to resolve Issues Attestation of Model and Usage to support internal reviews and accuracy The Dashboard integrates the results generated by the OFSMRM with Oracle Business Intelligence giving users the ability to perform queries on MRM Results Model Risk Management framework enable banks to predict and identify risk more accurately This also enables them to make better
150. ons or create Actions directly The Issues and Actions Configuration section under Admin module facilitates you to determine if Issues creation and display of Issue list have to be enabled in Model and Usage components To determine whether to enable Issue creation display list of Issues in Model and Usage components follow these steps 1 Select the check box adjacent to the required component that is Model or Usage The Component field is editable In addition the radio buttons in Enable Issue Creation and Display List of Issues columns of the selected component are enabled 2 Edit the component name 3 Select the Enable Issue Creation radio button either as Yes or as No On selecting Yes you will be able to create Issues for the selected Component 4 Select the Display List of Issues radio button either as Yes or as No On selecting Yes the Issues will be listed for the selected Component 5 Click Save button The preferences are saved 6 6 Access Rights The Access Rights functionality allows you to create and manage user groups and mapping of roles to the user groups It also allows the mapping of users to specific groups which in turn provides the users with the role mapping for a Business Dimension 6 6 1 User Profile Maintenance The User Profile Maintenance section allows you to create user groups and manage them You can access the User Profile Maintenance section by navigating to Admin gt Access Rights
151. oss Business Lines provides you a detailed view of Issues across different Business Lines This report plots the number of Issues and Issue Cost for different Business Lines such as Retail Banking Retail Finance and so on p Issues across Business Lines N Time run 8 28 2013 10 07 54 AM B T T 5 5 4 4 3 2 4 0 s 4 E g BB sue Cost Count of lesues Refresh Print Export 7 2 2 4 Actions across Business Lines Actions across Business Lines provides you a detailed view of Actions across different Business Lines This report plots the number of Actions and Action Cost for different Business Lines such as Retail Banking Retail Finance and so on gl Actions across Business Lines Time run 8 28 2013 10 07 54 AM 600 bn 11 MEN MEN N 500 e 9 400 E 7 300 i 5 200 i 3 100 1 0 0 Network and Advisory Sales Retail Banking Retail Finance E Action Cost Count of Actions Refresh Print Export Dashboard 7 5 Reports 7 2 2 5 Aging of Issues Aging of Issues report provide you a detailed view of the number of Issues pending to be resolved This details the total number of Issues Issues fixed on time and pending Issues in different time frames Aging of Issues GN Time run 8 28 2013 10 07 54 AM View Graph y 31 60 Be z gt 60 Within Time days by 16 30 days days da ys Ta rget Date TY Be en 0 Delayed Delayed Delayed Delay
152. ou can also select the check box adjacent to the Response Options field and edit an existing option or click Delete Options button to remove an unwanted option The Question will be displayed as shown in the following example Question 1 What is the capital of America Select the correct option Mew York Chicago Massachussets Boston 6 10 1 1 3 Free Text If you have selected the Question type as Free Text enter the following details under the Free Text field 1 Select Display as a Text Field or Display as a Text Area option by selecting the appropriate radio button The maximum allowed characters in Display as a Text Field and Display as a Text Area are 300 and 3000 respectively The Question will be displayed as shown in the following example Question 1 What is the capital of America Select the correct option Place informative text here 6 10 1 1 4 Number If you have selected the Question type as Number create the Question in such a way that the answer is a numeral Admin 6 23 Questionnaire The Question will be displayed as shown in the following example Question 1 What is the population of America Enter a value 6 10 1 1 5 Range If you have selected the Question type as Range enter the following details under the Range field 1 Select Display as a Range of Values or Display as a Number option by selecting the appropriate radio button 2 Add the drop down or radio button options by c
153. ou can only map a single user role to a notification Ifyou are an Admin user you can map a decision to the notification definition by clicking the Map Decision Rule button from the User Decision Rules grid Click Save button in the Workflow Notifications window You can also select the check box adjacent to a notification and perform the following Click Enable Notification button from the Notifications grid to enable the selected notification a Click Disable Notification button from the Notifications grid to disable the selected notification Click Map Rule button from the Notification Rules grid map and link a rule to the notification from the Map Renderer window Select a language under the Language Manager grid to select and save a language in which the notification has to be displayed 6 5 2 5 Create Tasks You can pre define tasks to be executed during the entry to a Stage in the Stage or during exit from a Stage To create a task from the Workflow Details window follow these steps 1 Select the check box adjacent to the Workflow Stage ID 2 Click Tasks The Tasks grid is displayed 3 Click Create Task button The Workflow Tasks window is displayed with the details such as Application Name Workflow Function Name and Stage Name 4 Populate the form details as tabulated below Table 6 7 Field Description The field s marked in asterisks are mandatory Task ID This is an auto populated sequ
154. oup button 3 Click OK in the confirmation dialog box The user group is deleted 6 6 2 User Profile Mapping The User Profile Mapping section allows you to map users to specific groups which in turn provide the users with the role mapping for a key business dimension You can access the User Profile Mapping section by navigating to Admin gt Access Rights gt User Profile Mapping From the User Profile Mapping window you have to search for the existing Users using Name Code or Modified Date parameters The Users matching the search criteria are displayed under Users grid For more information refer to Search and Filter section You can select the check box adjacent to a User name to view the User Group Mapping and Access Rights You can also wrap unwrap user listing For more information refer to Wrap Unwrap Item List section From the User Profile Mapping window you can perform the following actions Map User Groups to the Users Delete User Group Mapping 6 6 2 1 Map User Groups to the Users You can map the user groups to a user Mapping facilitates the associated roles for the selected BU made available for the user To map user groups to a user from the User Profile Mapping window perform the following steps 1 Select the check box adjacent to the User ID to which you want to map User groups rights The User Group Mapping and Access Rights grids are enabled 2 Click Map Group button from
155. ow with the details such as Date By Activity Comments and Upload details To attach a document to the Stage definition from the Stage Definition Details window perform the following 1 Click Attach Document button from the Documents List grid The Attach Documents window is displayed 2 Populate the form details as tabulated Table 4 7 Field Description The field s marked in asterisks are mandatory Component The component is auto populated as Model Development Stages as the document upload is being performed for a Stage definition Type Select the type of the document from the drop down list The available values are Regulation a Policy Documentation Annexures Logical File Name Enter a description for the file which you are about to upload Choose a file Choose the file to upload by clicking Browse button and selecting the file 3 Click Attach File The selected document is uploaded and is displayed under Documents List erid with the details such as Document Name Document Version Document Type Activity By and Date amp Time You can select the check box adjacent to a document and click the Delete button to remove a document The Audit Trail grid displays the history of actions performed on the Stage definition with the details such as Date and Time Action Action By and Status Click the List Stages button at the top right corner of the Stage Definition Details window to navigate b
156. r No 7 Enter necessary comments 8 Click Save button The attestation is saved and the status is changed to Draft You can also click Submit button to save and submit the attestation On submit the status of the attestation is changed to Completed 4 5 1 8 Create Issue Issues can be assigned to a Model which is in In Use In Development In Review Rejected and Rework and Pending Approval statuses To create an Issue for a Model in use from the Model Management window 1 Click the Model ID of a Model definition about which you want to report an Issue Note Ensure that you have selected a Model which is in In Use In Development In Review Rejected and Rework or Pending Approval status The Model definition details are displayed in Model Management Details window 2 Click Create Issue button The Issue Details window is displayed 3 Populate the required Issue Details For more information refer to Create Issue section 4 5 1 9 Model Details Management You can incorporate additional details such as Business Unit Products Source and Output details Stages Validation Schedule linkage of Issues and Actions Attestation details and Document attachment to a Model for its further Usage Model Management Details window allows you to perform these actions The actions that are possible on a Model from the Model Management Details window are the following Include Recommended Business Area a View the
157. r One a Tier Two Tier Three Tier Three Note Usage tier should not be higher than the tier of the associated Model Repository Enter the repository name where the data files for the Usage is available Restriction on Use Enter the restrictions on using the Usage The maximum allowed characters are 3000 Assumptions Enter the assumptions based on the Usage The maximum allowed characters are 3000 Known Limitation Enter any known limitation of the Usage The maximum allowed characters are 3000 The Comment field displays the latest actions performed on the Usage This remains blank in case of anew Usage 3 Click Save As Draft 4 32 Oracle Financial Services Model Risk Managemet Components of Model Management The Usage Definition is saved and the Usage Details are displayed as shown in the following figure E Urage Maragerrera Detali gt Window Internet Explorer ORACLE Model Risk Management Tom Farety j Thuraday Mevember 4 2013 Home Ins odel Manpgerment Issues A cion Admin Dashbsard ges gt gt Eny Help Usage Profile ce Suben fer Initial App oH E he EA Send Mail Ural S Edit Usage 1D 11 i BIHIRA aie Ason 21102013 Usage Name Descrip verdat Issues o Source Dewelopeman Object Mfestation Due Date j Preceding Usage lO Mida ID 1131704 Flu since Lina Category redit Rig Overdue Change Log ll Usage Cramer HU Head BL Bead
158. rameters such as Name ID Status Type or Created Date For more information refer to Search and Filter section Admin 6 19 Document Upload You can also wrap unwrap document listing For more information refer to Wrap Unwrap Item List section The Document Upload window allows you to perform the following actions Attach Documents Edit Document Delete Documents 6 9 1 Attach Documents The attach document functionality facilitates you to upload and save a document in the OFSMRM application To upload a document from the Document Upload window follow these steps 1 Click Attach Document s button from the Documents grid The Attach Documents window is displayed 2 Populate the form details as tabulated below Table 6 8 Field Description The field s marked in asterisks are mandatory Component By default the component is selected as Others Type Select the type of the document form the drop down list The available values are Regulation a Policy Documentation m Annexures Logical File Name Enter a name for the document to be uploaded Choose a file Click the Browse button to locate and find a document from the local computer in the Choose Flle to Upload dialog box Click Attach File button The document is uploaded 3 Click Back button and you are directed to the Document Upload window You can view the uploaded document under Documents grid You can click the ID hyperlink of an uplo
159. s The following table lists all the tasks and notifications depending on different user roles These tasks and notifications are received by the corresponding users in their Inbox menu on performing a particular action Issues and Actions 5 1 User Roles and Actions Table 5 2 Task or Action Notification Notification Performed Task Update Update Received by Issue Status Submitting an Issue Transferring the Ownership of an Issue Transferring the Ownership of an Issue Closing an Issue Reopening an Issue by Issue Creator Submitting an Action by Issue Owner or Action Creator A Task is sent to the Issue Owner selected in the Owner field A Task is sent to the new Issue Owner selected in the Transfer Ownership window A Task is sent to the Issue Owner selected in the Owner field A Task is sent to the Action Owner selected in the Owner field 5 2 2 Tasks and Notifications in Actions A Notification is sent to the Issue Creator who created the Issue A Notification is sent to the Issue Creator who created the Issue Issue Owner Issue Owner Issue Creator Issue Creator Issue Owner Action Owner Open Open Open Closed Open Open The following table lists all the tasks and notifications that each user roles will receive in their Inbox menu on performing a particular action Table 5 3 Task or Action Notification Notification Performed Task Update Upd
160. s of the definition changes to In Review 4 5 2 7 Attest Usage Usages are attested by the Usage Owner or BU Head to affirm and confirm the working relevance and use of Model for its intended business Only approved Usages which are in In Use In Review and Pending Approval status can be attested Note BU Head can attest a Usage only through the task which is generated 30 days prior to the attestation due date To attest a Usage from the Usage Management window 1 Select the check box adjacent to a Usage ID which is in Draft status 2 Click the Attest button The Usage Details Management window is opened with Attestation tab enabled The Attestation tab lists a new attestation with an ID and status New 3 Click the ID of the attestation with status New The attestation is open for edit and the available assertions are displayed 4 Select the Effective To date from the Calendar Note The Effective From date is auto populated with the date after the End Date of the previous attestation 5 Select the check box adjacent to the assertions you want to respond to Note You can click the check box adjacent to the Assertions grid and respond to all the assertions 6 Respond to the assertions with Yes or No 7 Enter necessary comments 8 Click Save button The attestation is saved and the status is changed to Draft You can also click Submit button to save and submit the attestation Model
161. s the validity of the Usage Note Validity of the Usage should be less than or equal to the validity of the selected Model This field indicates whether the Usage requires attestation or not Usages are attested by the Usage Owner to affirm and confirm the working relevance and use of Usage for its intended business Select Yes if the Model requires attestation Select the attestation frequency from the drop down list The available values are Half Yearly Yearly 7 Biennial This field is active only if you have opted the Usage requires attestation Select the Usage development target date from the Calendar Select the regulation that governs the Usage by selecting the check box adjacent to the regulation name from the drop down list Following are examples of available regulations a MiFID BASEL a Patriot ACT a SOX Dodd Frank Rule The selected regulation s are listed as comma separated values in the field Enter the name of the Usage developer Model Management 4 31 Components of Model Management Table 4 12 Cont Field Description Methodology Select the methodology adopted in the Usage construction by selecting the check box adjacent to the methodology s available in the drop down list The currently available methodologies are x Statistical Behavioral Mathematical Regression Tier Select the Usage tier from the drop down list The available values are a Tie
162. se grid From the Output and Intended Use grid you can also select the check box adjacent to a member and perform the following actions Delink a member by clicking the Delink button and clicking OK in the confirmation dialog box Model Management 4 37 Components of Model Management Provide the necessary comments under the Comments tab and click Save button to save the comments for the member Revert the comment changes to previously saved value or clear the comments by clicking Clear button before you save the member To link the downstream Usage details from the Output section follow these steps 1 Link the downstream Usages by clicking the Link Usage button The Downstream Usages window is displayed In the Downstream Usages window you can search for a set of Usages using the Usage ID Usage Name Version Business Line Category and Usage Owner details For more information refer to Search and Filter section 2 Select the required Usages by selecting the check box adjacent to the Usage IDs and clicking the Link button The selected Usages are listed under Downstream Usage grid with the Usage ID Name Version Business Line Category Status and Criticality details You can also Delink a selected Usage by clicking the Delink button and clicking OK in the confirmation dialog box 4 5 2 9 3 Link Stages Usage Development Stages are activities involved in developing and building Usages Usage Creator an
163. sion Usage Name Description Source Development Objective Preceding Usage ID Model ID Business Line Category Usage Owner BU Head The Usage ID is auto populated Enter the version of the new Usage The maximum number of characters should not exceed five Enter the required name of the new Usage The maximum number of characters should not exceed 50 Enter a description for the Usage under development Select the Source from the drop down list The available values are In House These Usages are developed within the organization Third Party These Usages are developed and implemented by a third party Hosted These Usages are developed and serviced by a third party but is implemented within the organization Select the development objective form the drop down list The available values are Automation This automates the concept behind the Usage Replacement In this case the objective is to replace the existing Usage with a new one a Recalibration In recaliberation the variables within an existing Usage are updated Redevelopment This re initiates the development of existing Usage for an updated concept New Development This is the development of new Usage with new concepts Select the preceding Usage ID from the Hierarchy Browser window by clicking the Browse button This field is active only if you have selected Replacement Recalibration or Redevelopm
164. so perform the following Map arole to the task definition by clicking the Map Role button from the User Roles grid Note You can only map a single user role to a task Map a user to the task definition by clicking the Map User button from the Users grid Map a Rules for the selected User by clicking the Map User Rule button from the User Allocation Rule grid Click Save button in the Workflow Tasks window You can also select the check box adjacent to a Task ID and perform the following a Click Enable Notification button from the Tasks grid to enable the selected task Click Disable Notification button from the Tasks grid to disable the selected task Admin 6 13 Access Rights Click Map Rule button from the Task Rules grid to map and link a rule to the task from the Map Renderer window Select a language under the Language Manager grid to select and save a language in which the task has to be displayed 6 5 3 Issues and Actions Configuration Issues are the problem statements and Actions are plans or activities taken to resolve Issues You can create Actions without creating Issues At the same time there are certain functional areas where creation of Issue is mandatory To facilitate this need to have Issues on a requirement basis the Issues and Actions Configuration feature in Application Preference of Admin module enables you to decide whether they need to create Issues and then create Acti
165. sociated with each of them 2 2 Oracle Financial Services Model Risk Managemet Home Window 2 2 3 Models amp Usage by Business Line The Models amp Usage by Business Line report displays the number of Models and Usages present for different Business Lines such as Clearing Finance and Risk IDSB Insurance and Investment Network and Advisory Sales Retail Brokerage and Wholesale banking Division 2 2 4 Status of Models and Usages The Status of Models and Usages report displays the number of Models and Usages present in different statuses such as Draft Pending Initial Approval Rejected In Development Pending Approval Rejected and Rework In Use In Review Pending Retire Approval Retired and Pending Reinstate Approval 2 2 5 Announcements The Announcements section displays the latest announcements related to OFSMRM for all the users Only the Admin users are allowed to include announcements to the Home window 2 2 5 1 Create Announcements If you are an Admin user to add an announcement to the Home window follow these steps 1 Click the Add button under Announcement grid The Add Announcements window is displayed 2 Enter the Title of the announcement in the Subject field 3 Enter the announcement details in the Details field The maximum allowed characters are 3000 4 Click Save button The Announcement is saved and is displayed in the Home window 2 2 5 2 Retire Announcements If you are an Admin user
166. sponding Workflow Function from the drop down lists under Workflow grid The available Workflows for the selected Application and Workflow Function are displayed under Workflows grid 2 Select the check box adjacent to the Workflow which you want to deactivate 3 Click Deactivate Workflow button Note The Deactivate Workflow button is enabled only if you have selected a Workflow which is in Active status A confirmation dialog box is displayed 4 Click OK The Workflow is deactivated 6 5 2 Workflow Details Management You can incorporate additional details such as Workflow Stages routing rules notifications and tasks to Workflow definitions for further usage You can perform these actions from the Workflow Details window The actions possible from the Workflow Details window are the following Create Workflow Stage a Edit Workflow Map Routing Rules Create Notifications a Create Tasks 6 5 2 1 Create Workflow Stage Stages of a definition are the indicators of its Workflow progress You can determine how the Workflow should progress where all approvals are required and what are the parameters that should be considered for the definition to progress to the next stage To create a Workflow Stage from Workflow details page follow these steps 1 Click Create Workflow Stage button from the Workflow Stages grid Admin 6 7 Application Preference The Workflow Stage Details window is displayed
167. ssue or a set of Issues from the Issues window For more information refer to Search and Filter section You can also export the Issue definitions to a spreadsheet and wrap unwrap Issue definition listing For more information refer to Export Definitions and Wrap Unwrap Item List sections The following Actions are possible from the Issues window a Create Issue View Issue Definition Details Edit Issue Definition Transfer Issue Ownership a Close an Issue Reopen Closed Issue Issue Details Management Delete Issue 5 4 1 1 Create Issue The Create Issue section facilitates the development creation of a new Issue To develop a new Issue from the Issue window 1 Click Create Issue button from the Issues window 5 4 Oracle Financial Services Model Risk Managemet Components of Issues and Actions The Issue Details window is displayed 5 acia Hiss Detalh Window Interest Explorer ORACLE Model Risk Management Home Inbox Model Management issues E Ach ns Admin Dashboard bares He la Diada Pic nila Desonpiion Custom r anman ride has bm inane Man cp Harme Custornor Atiiion sue Caiagory na Crticality Wed Estimada Cos uso 12 000 Actin COS USD od 12 000 fuctual Coan Component Ruca iip ADO USA Correale Tom Heraty Thureday Asgari 23 2003 Hr Ml Save Draht E bami l E Cancel ID i 2300 Cause Category gt Preity High Target mat 20 Aug 201
168. st This determines the level of importance to be given towards the mitigation of the Issue The available values are Low Medium High Estimated Cost Select the required base currency in which you want to calculate your estimated cost by clicking Browse button and selecting from the Hierarchy Browser window Enter an estimated cost to be incurred for mitigating the Issue in the text field Target Date Select a target from the Calendar to set a date by when you want to mitigate the Issue Action Cost Select the required base currency in which you want to calculate your Action cost by clicking Browse button and selecting from the Hierarchy Browser window Enter an Action cost to be incurred for mitigating the Issue in the text field This field can be populated even after Action completion Note The amount entered in the actual cost field is converted into the currency in which the Issue is recorded The currency exchange rate is calculated till the time the Action is in Draft and Closed statuses Owner Select an Issue Owner from the Hierarchy Browser window to whom you want to assign the Issue for taking appropriate actions such as verifying the Issue creating Action plans to mitigate the Issue and adding documents By default this field will display the logged in Issue Creator s name or the logged in Issue Owner s name if the Issue Owner is also mapped to the role of Issue Creator user Actual Cost This fi
169. stem and the Admin module within the application facilitates system administrators to set application preferences manage reference data determine the access rights upload documents manage User Interface language and manage Questions and Questiomnaire library These administrative activities are mainly performed at the initial stages of application configuration and then based on requirement 6 2 Access Admin You can access Admin module from the OFSMRM Home page by clicking Admin menu Following are the sections available in Admin module of OFSMRM Reference Data Management m Preferences Application Preference Access Rights Excel Upload User Interface Language Manager Document Upload Questionnaire Admin 6 1 Reference Data Management 6 3 Reference Data Management 2 Rederence Date Wlanagement Windgat interne Eopler r The Reference Data Management window allows you to manage the basic values of elements used across hierarchies and drop downs in OFSMRM F ORACLE Model Risk Management Home nite Model Management suts E Actions Dashboard Admin Admin Reference asa Management Bl search cr Go gf Clear E Referente Data 13 2 unwrap Code MALA CT BREF OO t Hame Action Lisi Gusinas Lina Calegor Change Lag Source Exribealiy Development OS eche Document Type Memodologr Products Regulitbor Source and input Stages Walidaton Co
170. t The Model definition is displayed in Model Management Details window 2 Click Retire Model button The Model Approval window is displayed 3 Select the Model Approver from the Model Approval window by clicking the Browse button and selecting the user from the Hierarchy Browser window 4 Enter the required comments in Comments field 5 Click Submit The Model definition has been initiated for retirement and sent for approval Once approved the status of the Model changes to Retired On rejecting the retirement of a Model the definition moves back to its previous state that is In Use and the Model is considered to be active 4 5 1 11 Reinstate Model A Model definition which is in Retired status can be reinstated for its further use A Retired Model can be reinstated only by the Model Analyst and this Model has to be approved before it can be further edited To reinstate a retired Model from the Model Management window follow these steps 1 Click the Model ID of a Model definition which you want to reinstate The Model Details window is displayed 2 Click Re Instate Model button The Model Approval window is displayed 3 Select the Model Approver by clicking the Browse button and selecting the user from the Hierarchy Browser window 4 Provide the necessary comments 5 Click Submit button The Model definition has been marked for reinstation and submitted to the selected Model Approver for approval Model
171. t for specific users 3 4 Oracle Financial Services Model Risk Managemet 4 Model Management 4 1 Overview Models are tools used to perform quantitative analysis of large amount of data and transform those results into vital information for making financial decisions such as underwriting credits valuing exposures instruments and positions measuring risk managing and safeguarding client assets and determining capital and reserve adequacy Models can be developed within an organization can be acquired from a third party vendor or can be developed and serviced by a third party and implemented within the organization If a financial institution has the ability to develop a Model it can develop a Model and use it internally OFSMRM offers the ability to track and record all the activities involved in developing and using Models This chapter provides an overview of Model Management module of OFSMRM application which manages Models and their Usages 4 2 Model and Usage Management Workflow Following flowcharts explain Model and Usage development status flow by different users Model Management 4 1 Model and Usage Management Workflow 4 2 1 Model The following figure depicts the workflow of a Model Creation of Model by Model Creator 1 E gt Cde Capture additional information of Model by Model Creator and submit model for initial approval Reject Verification of Initial Model by Idea
172. t to associate Issues and Actions 4 44 Oracle Financial Services Model Risk Managemet Components of Model Management The Usage Management Details window is displayed By default the Definition tab with the basic Usage definition details are displayed 2 Click the Issues and Actions tab The Issues and Actions tab is enabled 3 Click the Link button from the Issues grid The Issues window is displayed You can use the search parameters in the Issues window to search and find a particular Issue or a set of Issues For more information refer to Search and Filter section 4 Select the check boxes adjacent to the Issue IDs you want to link to the Usage definition 5 Click Link button The selected Issue s are linked with the Usage definition and are listed under Issues grid in Issues and Actions tab of Usage Details Management page The Issues are listed with details such as Issue ID Issue Name Type Creator Owner CCY Estimated Cost Target Date Last Modified and Status You can view the Actions associated with each Issue by selecting the check box adjacent to the Issue ID The associated Actions are displayed under Actions grid You can also select the check box adjacent to an Issue ID and click Delink button in the Issues grid to delink an Issue from the Model definition 4 5 2 9 7 Change Log The change log helps you to track any amendments made to the Usage definition This is possible only in a definition wh
173. te status can be reopened 2 Click Reopen Action button The Action Details window is displayed 3 Enter the required comments in the Comments field 4 Click Submit The Action is reopened and the status is changed to Open You can reopen a closed Action from the Action Details window as well 5 4 2 6 Action Details Management You can incorporate additional details such as Activities Stakeholders Action Updates and Documents to an Action definition for its further usage The Action Details window allows you to perform these actions The actions that are possible on an Action from the Action Details window are the following Associate Activities a Add Link Stakeholders Include Action Updates Attach Documents a View WorkFlow History a Associate Issues 5 4 2 6 1 Associate Activities You can create and associate activities to an Action definition from the Action Details window To create a new Activity from the Actions window 1 Click the Action ID of the Action to which you want to associate activities The Action Details window is displayed 2 Click button to expand the View More section 3 Click Add Activity button from the Activities grid A check box is populated under Activities grid 4 Select the check box populated under Activities grid The fields are enabled for edit 5 Enter the activity details as tabulated below Table 5 10 Field Description Name Enter the name of the Activity Oracle Financial
174. tems in OFSMRM You can set preferences for the following from Application Preference section Workflow Manager Issues and Actions Configuration 6 5 1 Workflow Manager Workflow Manager provides users an option to configure the process flow of each module from a centralized location There is also a provision to configure the Tasks and Notifications sent to each user based on the rules The Workflow Manager menu allows you to create Workflows for the existing Workflow functions of OFSMRM application You can access Workflow Manger window by navigating to Admin gt Application Preference gt Workflow Manager In the Workflow Manager window select the Application Model Risk Management from the drop down list Select the required Workflow function in the Workflow Functions field The currently available Workflow functions are Model Management Actions Issues Model Development Stages Model Usage Development Stages Model validation Usage Validation Model Change Log Usage Change Log 6 4 Oracle Financial Services Model Risk Managemet Application Preference Model Usage Development The available Workflows of the selected Workflow Function are displayed under Workflows grid with the details such as ID Name Business Line Category Description Effective From Last Modified and Status You can also wrap unwrap Workflow definitions listing For more information refer to Wrap Unwrap Item List section The act
175. the changes made to the Model This tab records every action save or submit and status changes This section facilitates you to track the changes by comparing two or more actions performed on a Model definition To view the audit trail details of a Model from the Model Management window follow these steps 1 Click the Model ID of a Model of which you want to view the audit trail details The Model Management Details window is displayed By default the Definition tab with the basic Model definition details are displayed 2 Click Audit Trail tab The Audit Trail tab is displayed with the history of actions of the selected Model definition The audit Trail displays the details such as Date and Time Action Action By Status and Comments 4 26 Oracle Financial Services Model Risk Managemet Components of Model Management If there are more than one audit trail items present for a Model you can compare them by selecting the check boxes adjacent to the items you want to compare and clicking Difference button from the Audit Trail tab 4 5 1 10 Retire Model An active Model definition which is in In Use status and not relevant or requires an update before it can be used again can be retired To retire a Model from the Model Management window 1 Click the Model ID of a Model definition which you want to retire Note Ensure that you have selected a Model which is in In Use status and there are no Usages linked to i
176. the Model and are displayed in Stages tab with the details such as Stage ID Stage Name Status Owner Approver Start Date End Date and Checklist All the selected Stages are assigned with Stage IDs You can click these IDs to view the Stage definition details The Stage Definition Details window displays the Stage Name Stage Status Model ID Model Name Stage Owner and Stage Approver details For a Model definition in In Development or Reject and Rework status you can update the Stage Owner and Stage Approver details by clicking the Browse button and selecting the users from the Hierarchy Browser window The Stage Activities details Documents List and Audit Trail details are displayed in the Stages tab To create a new Activity from the Stage Definition Details window perform the following 1 Click the Create New button from the Activities grid The Stage Activities window is displayed 2 Select the required activity among the available list of activities from the Choose Activity drop down list Model Management 4 19 Components of Model Management 3 Enter the required comments in the Comments field 4 Click the Attach Document button and select a document to upload by providing the Component Type Logical File Name document path and clicking Attach Document button 5 Click Submit in the Stage Activities window The Activity is saved and is displayed under Actives grid of the Stage Definition Details wind
177. the Question Details window are the following a Edit Questionnaire a Preview Questionnaire Submit Questiomnaire for Review 6 10 2 3 1 Edit Questionnaire You can edit the details of an existing Questionnaire with Draft or In Review status from the Questionnaire Library window To edit the definition details of a Questionnaire from the Questionnaire Library window follow these steps 1 Click the Questionnaire ID hyperlink of the Questionnaire definition which you want to edit The Questionnaire definition details are open for edit 2 Edit the details as required You can edit the Name Description Owner Sections amp Questions and Documents For more information refer to Create Questionnaire section 3 You can also create sections and Questions from the edit window A Questionnaire can have multiple sections and each of these section can contain Questions To create a section for a pre defined Questionnaire follow these steps Admin 6 27 Questionnaire 1 Click the ID hyperlink of the Questionnaire to which you want to add sections 2 The definition details are displayed in Questionnaire Details window 3 Click Edit button 4 Enter the Section Name in Sections amp Questions grid and click Add Section button The section is added and is displayed under Sections amp Questions grid 5 Click Edit Section button to edit the section name Click Save Section button 6 Click Create Question button
178. the Questionnaire grid The Link Questionnaire window is displayed You can search for a particular Questionnaire by providing the Questionnaire ID Questionnaire Name Created From or Created To details For more information refer to Search and Filter section 4 22 Oracle Financial Services Model Risk Managemet Components of Model Management For more information regarding Questiomnaires refer to Questionnaire section from the Admin module 8 Select the check box adjacent toe the Questionnaire ID 9 Click Link The selected Questionnaire is displayed under Questionnaire grid of Model Validation window You can also select the check box adjacent to an ID and click Delink to remove the selected Questionnaire 10 Click Back button The Usage validation is scheduled and the schedule is displayed under Scheduled Validation grid of the Validation tab A new validation is saved with status New The status become Active on the scheduled date once the batches are executed for a Model which has status In Use Once the scheduled validation is executed you can change the status to Inactive by performing the following actions Move the Model status to In Review a Select the Active validation and click Terminate The status of the validation becomes Inactive Once a validation moves to Active status the respective validators are assigned with tasks to perform the validation To perform a validation the validator needs to sel
179. tion Further expand the Actions grid by clicking the button Select the check box adjacent to the Action you want to remove ql ee A Click Delete Action button The selected Action has been removed from the Issue definition 5 4 1 7 6 Issue Linkages The Linkages tab in an Issue definition displays the Models and Usages to which the particular Issue is linked 5 4 1 8 Delete Issue Issue definition s created by you and is in Draft status can be deleted from the list if they are no longer required To delete Issue definition s from the Issues window 1 Select the check box adjacent to the Issue ID of the Issue definition s you want to delete Oracle Financial Services Model Risk Managemet Components of Issues and Actions 5 4 2 Actions Note You can delete an Issue definition which is not linked or referenced elsewhere In case the Issue definition is linked or referenced you have to delink or remove the reference of the Issue definition and try again 2 Click Delete Issue button The confirmation dialog box is displayed 3 Click OK button in the confirmation dialog box The selected Issue definition is deleted and a confirmation message is displayed Issues are problem statements Actions are plans or activities taken to resolve the Issues Users mapped to the role of Issue Owner Action Owner can access Actions section Issues and Actions module is useful for an organization when it requires
180. tion definition details from the Workflow Manager window follow these steps 1 Click the Workflow ID hyperlink of the Workflow in Draft status which you want to edit The Workflow Details window is displayed By default the Workflow Details window displays the Workflow Stage Details tab 2 Click the Workflow Details tab 3 Click the Edit button You can update the details such as Name Description Effective Date Default Workflow Business Line Category Comments and Documents For more information refer to Create Workflow section 4 Once you are done with the necessary edits click Update button The updated details are saved 6 5 2 3 Map Routing Rules Routing rules are the criteria defined to determine if a definition is eligible to advance to a higher Stage The pre defined rules can be assigned to each Stages to check the eligibility To map a routing rule to a Workflow Stage from the Workflow Details window follow these steps 1 Select the check box adjacent to the Stage ID of a Stage to which you want to map a routing rule Admin 6 9 Application Preference 6 10 2 Click Map Rules button in the Routing Rules grid The Workflow Rule Details window is displayed 3 Populate the form details as tabulated below Table 6 5 Field Description The field s marked in asterisks are mandatory Next Stage Click the Browse button and select the next Stage from the Hierarchy Browser Rule Sequenc
181. to record a particular problem that has occurred and recommend steps that must be taken to resolve the problem Actions menu under Issues amp Actions module navigates you to the Actions list Action Owner has access to the Action List screen The list displays only those Actions which are owned by the logged in user An Analyst has access to all the Actions in the Action List screen The Actions are listed with following details Table 5 8 Tab Name Description ID Displays the sequential tracking number of the Action Name Name of the Action definition Criticality Displays the criticality of the Action Activities Displays the number of activities available for each Action These numbers are hyper linked On click you can view the activity details in the Action Details window Owner Displays the name of the Action Owner Start Date Displays the date on which the Action started Target Date Displays the date on which the Action is due to be completed Progress Displays the progress percentage of the Action as compared to the state on start date Status Displays the current status of the Action Actual Cost Displays the actual cost of the Action Last Modified Date Displays the last modified date of the Action You can search for a specific Action or a set of Actions from the Actions window For more information refer to Search and Filter section You can also export the Action definitions to a spreadsheet and wrap unwrap Acti
182. to create a Question in the saved section For more information refer to Create Question section 7 Click Link Question button to link existing Questions from the Questions Library window For more information refer to Questions Library section 8 Select the check box adjacent to a Question and click Delink Question button to delink a previously linked Question 9 Select the check box adjacent to a Question and click Delete Question button to remove a Question Note Only those Questions which are created from the specific section can be deleted using this delete functionality 10 Click Delete Section button and click OK in the confirmation dialog box to remove a section 4 You can reorder the sequence of Questions from the Questionnaire Details window To reorder a set of Questionnaire follow these steps 1 Click the Sequence Questions button The Sequence Questionnaire window is displayed 2 Click Move Question button and populate the From and To fields of Change Question Number to move a Question Click Change button 3 Click Move to Section button and select the section name from the drop down list in Move Selected Questions to field to move a Question to the selected section Click Change button 4 Click Move Section button and populate the From and To fields of Change Section Number to move a Question Click Change button 5 Click Save Sequence button to save the Sequence Questions details 5 You can a
183. ton from the Scheduled Validation grid The Model Validation window is displayed 4 Populate the form with the necessary details as tabulated below Table 4 8 Field Description The fields marked in asterisks are mandatory ID The ID of the validation is auto populated and this field is not editable Type Select the type of the validation from the drop down list The available values are Back Testing Control Evaluation of the Conceptual Soundness Ongoing Monitoring Outgoing Analysis Result Full Scope Review Quantitative Performance Monitoring Validation Start Date Select the start date of validation from the Calendar Prior Notification Enter the number of days prior to the validation execution you want the notification to be sent Frequency Select the validation frequency from the drop down list The available values are Monthly Quarterly Half Yearly Yearly Validation End Date Select the end date of validation from the Calendar Click Save The validation is saved Once the validation is scheduled the Validators and Questionnaire grids are enabled in the Model Validation window Add validators by clicking Link button in the Validators grid and selecting the user from the Hierarchy Browser window You can also select the check box adjacent to a Validator and click Delink to remove the selected validator Select the Questionnaires by clicking Link button in
184. top level and line of business LOB decisions based on Model results by answering the following queries How often must a Model be validated How does a bank with Models that are already in production meet the newly defined expectations of Model development and implementation How does an institution begin to develop an effective Model Risk Management program This chapter provides a brief overview of the Oracle Financial Services Model Risk Management OFSMRM in terms of its architecture and operations Financial institutions use Models across the enterprise to synthesize large amounts of complex data into a simplified form for analysis and evaluation in order to facilitate in reporting decision making and monitor risks 1 2 Components of OFSMRM This version of OFSMRM application consists of the following tabs You can click the following links to view the details Home a Inbox Model Management Issues and Actions Dashboard Admin The functions and workflow of each of these tabs are explained in the respective chapters 1 3 Access OFSMRM You can access the OFSMRM application through the Web Browser once the application is installed and configured 1 2 Oracle Financial Services Model Risk Managemet OFSMRM Login 1 4 OFSMRM Login While accessing OFSMRM application the Oracle Financial Services Analytical Applications Infrastructure OFSAAJ splash screen is displayed OFSAA Infrastruct
185. ttach documents to the Questionnaire definition from the Questionnaire Details window To attach a document to the Questionnaire from the Questionnaire Details window follow these steps 1 Click Attach Document s button from the Documents grid The Attach Documents window is displayed 2 Populate the form details as tabulated 6 28 Oracle Financial Services Model Risk Managemet Questionnaire Table 6 9 Field Description The field s marked in asterisks are mandatory Component The component is selected as Questionnaire by default Type Select the type of the document from the drop down list The available options are Regulation Policy Documentation m Annexures Logical File Name Enter a name for the file which you are about to upload Choose a file Click Browse button and select the required file from the Choose File to Upload window 3 Click Attach File button The selected file is associated with the Questionnaire definition 6 You can click the Preview Questionnaire button to view the preview of the Questionnaire 7 Click Submit button The Questionnaire definition is saved with updated details The status of a saved Questionnaire is changed to Open 8 Click Review button to submit the Questionnaire for review The status of the Questionnaire is changed to In Review 6 10 2 3 2 Preview Questionnaire The preview Questionnaire section facilitates you to view the Questionnaire and the associated seq
186. ubmit button The Issue definition is saved and is submitted to the Issue Owner for taking further actions The details are displayed in Issue Details window ORACLE Model Risk Management Fomlarety Thursday August 2 2043 Has Detalh Mindo Interreet Frps Home Mite Model Management l55ues Actions Admin Dashboard besre jppue Detads gt Hel Details 2 Lar Hamat Cuahomer iior io EEEN EIR Cause Calagoy Priority Target Date Primary Soro Bee ss Ler ABL UA CLalegosy EN View More Dene FH EL Local miranel Peobected Mode HI a IA F The status of a saved Issue changes to Open Issues and Actions 5 7 Components of Issues and Actions 9 4 1 2 View Issue Definition Details A pre defined Issue definition can be viewed and edited from the Issues window To view the details of a pre defined Issue definition from the Issues window Click the Issue ID of the definition you want to view The Issue definition details are displayed in Issue Details window 5 4 1 3 Edit Issue Definition You can edit a saved Issue definition created by you and is in Draft status from the Issues window Editing an Issue definition facilitates the population of additional details and further actions after the creation of the Issue To edit an Issue definition from the Issues window follow these steps 1 Click the Issue ID of the Issue definition which is to be edited The Issue Details window is disp
187. uence Questions To preview the Questionnaire from the Questionnaire Library window follow these steps 1 Click the Questionnaire ID hyperlink of the Questionnaire definition which you want to preview The Questionnaire definition details are displayed 2 Click the Preview Questionnaire button The Questionnaire with all the associated Questions are displayed in Preview Questionnaire window From the Preview Questionnaire window you can also click the View Documents Hide Documents button to view hide the documents associated with the Questionnaire in the Documents grid 6 10 2 3 3 Submit Questionnaire for Review You can send Questionnaire which are in Open status for review To send a Questionnaire for review from the Questionnaire Library window follow these steps 1 Click the Questionnaire ID hyperlink of the Questionnaire definition which you want to send for review Admin 6 29 Questionnaire Note Only those Questionnaire which are in Open status can be sent for review The Questionnaire definition details are displayed 2 Click the Review button 3 Click OK in the confirmation dialog box The Questionnaire review has been initiated and the status is changed to In Review 4 Click Submit button The Questionnaire has been sent for review Note Questionnaires in In Review status will not be available for assessment attestations until it is moved back to Open status 6 10
188. uestionnaire Library window Create Questionnaire Copy Questionnaire Questionnaire Details Management Delete Questionnaire 6 10 2 1 Create Questionnaire To create Questionnaire from the Questionnaire Library window follow these steps 1 Click Create Questionnaire button from the Questionnaires grid The Questionnaire Details window is displayed This Questionnaire definition is associated with an ID which is the sequential tracking number of the Questionnaire The ID field is non editable A Gerena Document Window im met Explsr r ORACLE Modal Risk Management Tom Karey Sunday Augus 4 2013 Home Inbox Model Management Issues amp Actions Dashboard Adra i tionnaire gt gt Questionaire Library gt Questionnaire Detalla Heip El revira Questionnaire Mew Cuestonralre Details Marne Usage Quesb ndire iti 5 1153906 Queshonaine m Armin Description i E PATA E a Apobcat n Model Rik Manager 7 lyp gasis z ppost Usage Validations El Sections amp Questinas Tarpan hame D 1 E Sequence Geestions TH iit Local intrenet Protected Mode Of i E IO 2 Enter the name o f the Questionnaire in the Name field This field is alphanumeric and the maximum allowed characters are 300 3 Enter a description about the Question in the Description field This field is alphanumeric and the maximum allowed characters are 3000 4 Select the owner of the Question from the Questionnaire by click
189. ure Login Screen Windows Internet Explorer ORACLE Financial Services Analytical Applications Infrastructure Language US English User ID Password You can select the required language from the Language drop down list The language options displayed in the drop down are based on the license Based on the selection of Language the appropriate language login screen is displayed Enter the User ID and Password provided by the System Administrator and click Login You will be prompted to change your password on your first login Alternatively you can also choose to change your password any time OFSAA Infrastructure Password Change Screen Windows Internet Explorer Sel Financial Services Analytical Applications Infrastructure ORACLE User ID MRMUSER Old Password New Password Confirm Password In the Change Password window enter a new password confirm it and click OK to view the Splash screen Refer to the following guidelines for Password Creation Passwords are displayed as asterisks stars while you enter This is to ensure that the password is not revealed to other users m Ensure that the entered password is at least six characters long Model Risk Management 1 3 OFSMRM Login The password must be alphanumeric with a combination of numbers and characters The password should not contain spaces Passwords are case sensitive and ensure that the Caps Lock is not turned ON By
190. vailable values are Half Yearly a Yearly 7 Biennial This field is active only if you have opted the Model requires attestation Select the target date for the completion of the Model development from the Calendar Select the regulation that governs the Model by selecting the check box s adjacent to the regulation name s from the drop down list Examples of available regulations are a MiFID BASEL a Patriot ACT SOX Dodd Frank Rule The selected regulation s are listed as comma separated values in the field Oracle Financial Services Model Risk Managemet Components of Model Management Table 4 6 Cont Field Methodology Model Tier Repository Restriction on Use Assumptions Known Limitation Description Select the methodology adopted in the Model construction by selecting the check box adjacent to the methodology s available in the drop down list The available methodologies are Statistical These Models have the probability distribution functions or probability density functions used Behavioral These Models reproduce the required behavior of the original analyzed system Mathematical These Models are defined based on mathematical concepts Regression These Models are used to predict one variable from one or more other variables Model Tiering is based on factors such as reliance and uncertainty of the Models Tiering assessment is performed once th
191. vices Model Risk Managemet Components of Model Management Note You can edit all the fields of a Model definition which is in Draft status and all the fields except Model ID Version Source Development Objective and Preceding Model ID of a Model definition which is in In Development In Review or Rejected and Rework status For more information refer to Create Model section 3 Once all the necessary details are updated click Update button The Model definition details are updated 4 5 1 4 Submit Model for Initial Approval A Model definition which is in Draft or Rejected status whose Source is In House or Hosted has to be submitted for initial approval Only a user who has Idea Approver role assigned can approve a Model definition To send a Model definition for approval from the Model Management window perform the following actions 1 Click the Model ID of the Model definition which is to be sent for initial approval The Model definition details are displayed 2 Click Submit for initial Approval button 3 The Model Initial Approval dialog box is displayed 4 Select the Initial Approver by clicking Browse button and selecting the user from Hierarchy Browser window 5 Enter the required comments in Comments field 6 Click Submit The Model definition has been submitted for initial approval 4 5 1 5 Submit Model for Approval A Model definition whose status is in In review In Development and R

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