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One inventory - complete control of your model risk management
The EY Model Risk Management Workspace helps banks and financial institutions meet today’s regulatory and operational demands for model risk management.
It provides a centralized model inventory that connects traditional, AI and machine learning models with their data, documentation and workflows – enabling teams to maintain a single, authoritative source of truth.
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Whatever your process, our platform can manage it
One platform to manage, monitor and evidence your model risk across traditional and AI models
The Model Risk Management Workspace combines EY’s regulatory experience with proven technology to help institutions efficiently manage the entire model lifecycle, including traditional statistical and AI-based models. It enables organizations to streamline model risk management through automation, configurable workflows and integrated reporting – without the need to develop or maintain custom tools.
What value does it bring to you?
Built for day-to-day use by business users, the workspace automates processes, manages approvals and tracks findings or actions across the model lifecycle – making model risk management simpler, faster and more transparent.
Key capabilities include:
- Model inventory management – maintain a single repository of models, metadata and documentation, ensuring consistency and traceability across the lifecycle.
- AI & advanced analytics coverage – include machine learning and advanced analytics models in the same inventory, capturing key attributes such as model purpose, risk classification, training data references, versions, validation outcomes, and monitoring results.
- Roles and access management – ensure confidentiality and control with granular, role-based access through to individual metadata fields and workflow steps.
- Flexible workflows – digitize approvals, feedback and remediation tracking. Each finding or action can follow its own workflow, allowing independent progress monitoring.
- Integrated planner – schedule and track model-related activities and milestones, compare planned versus actual timelines, and gain clear visibility into ownership and progress across all models.
- Dashboards and reports – monitor model inventory, lifecycle status and key metrics using customizable dashboards and integrated Power BI reporting.
And many more.
Other related solutions
The solution is part of a family of EY BPM-based workspaces designed for banks and financial institutions – including the Model Validation and Outsourcing Management Workspaces. Each addresses a distinct area of governance, while operating on the same technological foundation.
This shared platform ensures compatibility, consistent design principles and the ability to connect processes across risk, validation and third-party management – all within a unified user experience.