Model Risk Management (MRM)
Equifax helps clients identify, reduce potential model risk and achieve compliance
The risk models used by businesses to help determine creditworthiness in the United States are under increased scrutiny by federal regulators, as they seek to foster more inclusive financial services for all U.S. consumers. Equifax Model Risk Management can help to better align your models with these changing regulatory guidelines.
Model Risk Management is a value-added internal Equifax process that can help our clients by providing comprehensive model documentation, independent model validation and regular performance monitoring reports.
When assessing model performance and compliance risk, we use an independent team that is solely dedicated to model review, model management and providing remediation recommendations. To ensure success throughout the model lifecycle our Model Risk Management Group has a partnership with internal experts from our legal and compliance group, data and analytics group as well as our sales, technology, and our product management and innovation team. In addition, it also provides customers with:
- Strong customer support
- Increased overall model transparency
- Timely delivery of in-depth model documentation
- Reduced model risk across the model lifecycle
When you work with Equifax, you can be confident that the model has been independently reviewed and approved by the Model Risk Management group. To contact the Model Risk Management Group directly, please email email@example.com.