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    Domino for Model Risk Management and Governance; Controls and Audit Processes

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    Read the Whitepaper

    Identify, test, and manage risk

    Managing risk, governance, and audit compliance requires a robust platform that captures all aspects of your modeling portfolio, making it easy to inventory and document models and streamline reporting for audit and regulatory reviews. 

    Domino’s Enterprise MLOps platform helps quants, analysts and data scientists at the world’s largest insurers manage risk across use cases including:

     

    • Credit risk
    • Capital planning
    • Actuarial 
    • Underwriting
    • Regulatory compliance
    • Cyber risk and remediation
    • Data loss and protection

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    faster onboarding

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    reduction in audit response effort

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    reduction in effort to recreate lost work

    Why Domino for model risk management and governance

    The Domino Enterprise MLOps platform streamlines the work of managing risk, governance, controls, and audit processes at leading insurers worldwide.

    Manage model risk
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    Collaborative risk management
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    Reproducible models and analysis
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    Increased model velocity
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    portfolio

    Automate and standardize processes to holistically manage risk

    Domino helps you manage and streamline the end-to-end process for building a model, from idea to impact to validation while mitigating risks.

    Benefits:

    • Easily see relevant model management and validation workflow information.
    • Centrally communicate model risk information to internal and external stakeholders.
    • Codify and standardize risk, data science, IT, audit and compliance processes.

     
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    Instill best practices and build upon prior work

    Domino makes it easy for teams to collaborate and build upon past work to test new ideas.  It also lets you establish consistent patterns and practices to increase productivity.  

    Benefits:

    • Collaborate and iterate on results seamlessly with analysts, data scientists, IT, risk, compliance, audit, and executives.
    • Retain institutional knowledge when key people leave.
    • Search prior work on a topic to avoid reinventing the wheel and rapidly compound knowledge.
    • Accelerate onboarding of new team members.
    • Codify consistent patterns and practices across teams.
    reproducibility2

    Easily reproduce and validate work, improving productivity

    Domino allows data scientists and model validators to instantly recreate the environment used to build a model or analysis.

    Benefits:

    • Easily validate model results prior to deployment.
    • Reproduce any model with just a few clicks, regardless of the language used to create it.
    • Improve data scientist, actuary, and analyst productivity by automating the capture of all model assets.
    Model Monitoring - Data Drift

    Streamline and standardize data science processes while mitigating risks

    With Domino, data scientists can develop, deploy, monitor, and manage models – all from a single platform. Models get into production faster with consistent deployment practices to rapidly respond to business needs, increase impact, and mitigate risks.

    Benefits: 

    • Get models into production faster with consistent model deployment best practices and processes.
    • Monitor models for data drift, quality, and other critical health statistics
    • Iterate quickly (and often) to maintain high-performing production models to mitigate risks and losses.
    • Integrate with Git and Jira to include data science into broader enterprise project processes.

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    by-industry-s2-insurance
    Case Study

    Pushing the innovation pedal in a conservative industry

    Learn how Allstate is able to quickly innovate while strengthening governance and regulatory compliance.  

     Read the case study

    Recommended resources

    Analyst Report
    542% ROI with Domino

    "Without Domino, getting a model into production was quite an involved process; let’s say that took us maybe four weeks after talking to everyone. Now it’s down to maybe a one-week process."

    Principal Consultant, Large Financial Service Organization

    Read the Forrester TEI Report
    Podcast
    Governing models and structuring teams in highly regulated industries

    Anju Gupta, VP Data Science & Analytics at Northwestern Mutual, is a big believer in establishing model governance practices early, and she shares her thoughts on the topic in the episode. Plus, she talks about some surprising roles on her data science team and the unique value that comes from pairing actuaries with data scientists.

    Listen to the podcast
    Video
    Catalyzing your transformation, thanks to early model risk governance

    Sebastien Conort from BNP Paribas Cardif shared his experience with Model Risk Governance at Rev2.  He shared details about the new form of model risk governance that was needed to deal with new types of AI/ML models, the volume of models in production, and the spread of new users across the company.  

    Watch the video

    See why leading insurers run on Domino

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