Paragon Business Solutions: Elevate Model Risk Management with Focus Tool for Compliance and Efficiency

About Focus

Paragon Business Solutions has truly set a benchmark in the realm of model risk management with their innovative tool, Focus. This comprehensive solution is designed to streamline the governance and management of models, ensuring compliance with stringent regulatory requirements such as EU-TRIM, SR 11-7, and SS 1/23.

One of the standout features of Focus is its centralized inventory management, which allows organizations to maintain a meticulous record of all models in one place. This not only enhances transparency but also ensures that model standards, validation, and performance are consistently monitored throughout the model lifecycle. In an era where regulatory scrutiny is intensifying, having a robust tool like Focus is invaluable for maintaining a sound financial reputation.

The configurability of Focus is another significant advantage. Organizations can tailor the tool to their specific needs, whether it’s the hosting options or the way they utilize the software. The inclusion of a full audit trail, version control, and comprehensive documentation further enhances its effectiveness, providing users with the peace of mind that all data sources are linked and easily accessible.

Moreover, Focus promotes optimal management through active model governance features such as user management, workflows, and dashboards. This functionality not only aids in better prioritization and resource planning but also provides a holistic view of all tasks and actions, ensuring that nothing falls through the cracks.

Paragon's Focus is an essential tool for any organization looking to enhance their model risk management practices. Its combination of regulatory compliance, efficiency, and user-friendly features makes it a top choice for businesses aiming to navigate the complexities of the financial landscape with confidence. I highly recommend exploring Focus for those seeking to elevate their model governance strategies.

Financial Risk Management Features

• Credit Risk Management
• Portfolio Modeling