Objective

• The client wanted to comprehensively document SIMM model development and validation steps taken before applying to NFA for the approval
  

CRISIL's solution

• Client had multiple model development documents that lacked coherency, connectivity among the document is not transparent. Had series of meetings to showcase the gaps and approaches to have single comprehensive document
• Discussion with development and validation teams on the tests to be covered, best practices and SR11-7 elements for Model development and Validation documents
• Designed a calculator on MS-Excel for the client so that they can show the results of their system generated SIMM results at an easier platform capturing all calculation steps
• Had series of meetings with multiple teams across locations to identify IT, Treasury, Risk, Audit related processes in model development and validation , recommendations provided on gaps
  

Client impact

• Two comprehensive documents (model development and validation) submitted for NFA approval before deadline
• CRISIL helped to streamline the vague process with its experience and make the deliveries at a good scale to client before deadline, in spite of the challenges
  

Questions

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