Numerix Risk Management from Numerix

Offers advanced model validation tools with comprehensive risk analytics and scenario analysis designed for pension fund management.

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Product analysis by function

Model Validation Software for Risk Management

Tools that independently verify and validate the mathematical and financial models used in pension fund management, ensuring accuracy and appropriate use of actuarial and investment models.
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Model Coverage
(11 Yes /11 Known /12 Possible features)

Accuracy and Validation Processes
(9 Yes /9 Known /11 Possible features)

Auditability and Reporting
(8 Yes /8 Known /11 Possible features)

Integration and Compatibility
(9 Yes /9 Known /10 Possible features)

Security and Data Privacy
(8 Yes /8 Known /10 Possible features)

Usability and User Experience
(9 Yes /9 Known /10 Possible features)

Performance and Scalability
(5 Yes /5 Known /10 Possible features)

Governance and Documentation
(8 Yes /8 Known /10 Possible features)

Vendor Support and SLAs
(4 Yes /4 Known /10 Possible features)

Cost and Licensing Flexibility
(8 Yes /8 Known /10 Possible features)

Innovation and Futureproofing
(9 Yes /9 Known /10 Possible features)

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Asset Class Support Ability to validate models for a wide variety of asset classes including equities, fixed income, real estate, private equity, infrastructure, and alternatives.		Numerix supports a broad range of asset classes including equities, fixed income, real estate, and alternatives per product literature.
Regulatory Compliance Models Supports checking that models adhere to regulatory standards (e.g., Solvency II, IFRS, local pension regulations).		Product documentation and marketing highlights support for regulatory frameworks such as Solvency II and IFRS.
Actuarial Model Validation Capability to validate actuarial models for liabilities, mortality/longevity, and other pension-specific risk factors.		Actuarial model validation (e.g. liabilities, mortality) is included as a core feature for pension solutions.
Investment Model Validation Verification and independent validation of investment and asset allocation models.		Comprehensive support for validation and independent review of investment and asset allocation models.
Scenario Analysis Coverage Verifies models across stress scenarios and forecast situations.		Advanced scenario analysis and stress testing are highlighted as major features for risk management.
Economic Assumptions Validation Checks the reasonableness and consistency of macroeconomic and market assumptions in models.		Numerix validates macroeconomic and capital market assumptions in risk and valuation models.
Stochastic Model Support Evaluates the appropriateness and calibration of stochastic simulation models.		Stochastic modeling capabilities and calibration tools are a key part of the Numerix platform.
Deterministic Model Support Supports validation of deterministic models alongside stochastic models.		Deterministic model validation supported alongside stochastic routines for full coverage.
Hybrid Model Support Ability to handle and validate hybrid (e.g., deterministic/stochastic mixed) models.		Hybrid modeling (mixing deterministic and stochastic components) is supported.
Model Interdependency Analysis Checks the proper integration and interaction of multiple models (e.g., asset-liability modeling).		Asset-liability management and integration between investment and liability models is a standard capability.
Cash Flow Models Supports validation of cash flow projection models.		Validation of cash flow models for pensions and insurance is described in documentation.
Statistical Model Types Supported Number of statistical models (e.g., regression, time series, machine learning) the system can validate.		No information available

Sensitivity Analysis Tools Software provides functionality to test model output sensitivity to input changes.		Sensitivity analysis is a core analytical tool available across the platform.
Backtesting Framework Includes automated routines for comparing model predictions vs actual historical results.		Automated backtesting of model results vs. real world and historical outcomes is supported.
Benchmark Comparisons Ability to compare model outputs against industry benchmarks and standards.		Benchmark comparison is included in reporting and validation dashboards.
Model Calibration Checks Verifies calibration of model input parameters.		Model calibration checking is an integrated step in all model validation workflows.
Hypothesis Testing Automates statistical hypothesis testing for model robustness.		Statistical hypothesis testing can be performed as part of advanced model validation routines.
Parameter Validation Assures validity and ranges of key model parameters.		Parameter validation and boundary checks are a required step in the platform’s model validation process.
Error Detection Rate Number/percentage of material model logic, coding or data errors detected by the tool.		No information available
Assumption Documentation Ensures all model assumptions are documented and validated.		Validation report templates include full documentation of all model assumptions.
Validation Frequency How often models can be automatically or manually re-validated.		No information available
Replication Capability Ability to independently reproduce model results using input data and model code.		Supporting full replication and auditability of model runs is a standard validation requirement in Numerix.
Custom Validation Procedures Allows user-defined tests and validation scripts to be integrated.		The platform supports user-defined validation procedures and scripting.

Automated Report Generation Can automatically produce validation reports in multiple formats (PDF, Excel, HTML).		Automated validation report generation in PDF/Excel/HTML is explicitly listed as a feature.
Model Version Tracking Keeps a detailed version history of models tested and validated.		Model version tracking and historical auditability are integrated.
Validation Audit Trails Complete logs of validation steps, findings, and actions taken.		Logs for all validation steps and changes are part of platform audit trails.
Export to Regulator Formats Exports results and reports in formats acceptable to regulators.		Export options include formats compatible with regulatory filings.
Automated Exception Tracking Logs and alerts where models fail validation criteria.		No information available
Customizable Report Templates Enables users to define and reuse custom report layouts.		Customizable report templates are available for tailoring validation documentation.
Stakeholder Access Control Granular permissions to allow auditors and regulators selective report access.		Granular access control, including for auditors/regulators, is part of security management.
Dashboard Overview Visual dashboards summarizing validation status and issues across models.		Dashboard overviews of model validation status are a core feature.
Data Lineage Capture Records where and how input data was sourced and transformed.		Full data lineage capture from import through transformation is described in documentation.
Findings Severity Rating Ability to classify and rate severity/impact of validation findings.		No information available
Change Log Frequency Tracks frequency of model changes between validation cycles.		No information available

API Integration Provides APIs for integrating validation tools with model risk management systems, data warehouses, and reporting tools.		Numerix exposes a robust API for integration with risk reporting, data warehouses, and third-party systems.
Direct Data Import Ability to directly import data from common sources (databases, CSV, actuarial software, etc).		Direct import from numerous formats (databases, CSV, actuarial software) is supported.
Supported Input Formats Number of natively supported input file/data types.		No information available
Open Model Interface Accepts externally coded models (e.g., Python, R, SAS, Excel/VBA).		Platform accepts models from Python, R, Excel, VBA, and other environments through an open interface.
Cloud Deployment Options Available as cloud-hosted/SaaS as well as on-premises.		Commercially available as both SaaS/cloud-hosted and on-premises.
Batch Processing Capability Supports bulk validation processing runs for multiple models or scenarios.		Batch processing for large model validation workloads is noted in literature.
Single Sign-On (SSO) Support Integrates with enterprise SSO/LDAP for user authentication.		Enterprise authentication protocols, including SSO/LDAP, are supported.
Plug-in Architecture Allows user extensions or connectors for bespoke data/model integration.		The platform supports extensible plug-in architecture for new data and integration needs.
Real-Time Data Sync Can receive and process real-time data updates from external sources.		Real-time data sync is available for use cases needing up-to-the-minute risk analysis.
Compatibility with Risk Engines Integrates with major risk analytics platforms (e.g., BlackRock Aladdin, MSCI Barra).		Integrations with major risk engines (BlackRock, MSCI, etc) are supported through adapters.

Role-Based Access Control Granular control over who can view/modify/validate models and access reports.		Role-based access control implemented; users assigned roles for model, data, and report access.
Data Encryption in Transit Uses encryption for data transmitted between systems and users.		In-transit encryption via TLS/SSL is standard in cloud and on-prem deployments.
Data Encryption at Rest Encrypts stored input data, models, and validation results.		Data-at-rest encryption is available for all sensitive datasets and audit logs.
GDPR/CCPA Compliance Supports compliance with global/regional data privacy laws.		Statements of GDPR/CCPA compliance provided in product privacy and compliance documentation.
Audit Log Tamper Detection Detects and alerts any unauthorized modifications to audit logs.		No information available
User Activity Monitoring Monitors and reports on all user login and activity events.		User activity monitoring and audit reporting included in platform's administration features.
Secure Data Erasure Provides secure deletion of sensitive data after use.		Platform offers secure deletion and data purging capabilities on demand.
Time-Limited Access Tokens Allows issuing temporary credentials for third-party integrations.		No information available
Multi-Factor Authentication Enforces multi-step verification for sensitive operations.		Multi-factor authentication (MFA) available for critical user/administrator functions.
Incident Response Procedures Documented and automated workflows for data breaches or security incidents.		Incident response procedures described in platform support/SLA documentation.

Intuitive User Interface Clear and organized navigation with contextual help.		Modern interface with guided navigation and context sensitive help.
User Customization Options Ability to customize dashboards, views, and notifications.		User can configure dashboards and set personalized notification preferences.
Visualization Tools Provides interactive charts and visual summaries of validation results.		Interactive visualization/dashboard tools included for result review.
Guided Validation Workflows Built-in guided processes to streamline validation tasks.		Integrated guided workflows for typical model validation tasks are mentioned in training materials.
Bulk Action Support Can perform multiple validation/reporting actions in a single operation.		Bulk operations/test runs can be executed on multiple models or scenarios.
Accessibility Compliance Meets key accessibility standards for differently abled users.		Accessibility is listed among compliance certifications / VPAT documentation.
Mobile Access Available interface optimized for mobile/tablet.		Mobile UI and tablet access listed as features.
Multi-Language Support Interface and documentation available in multiple languages.		No information available
Help and Documentation Integration Contextual help, FAQ, and tutorials embedded in the UI.		In-application help, documentation, and FAQ/tutorial access are available in the user interface.
Training Mode Provides guided training environments for new users.		Customers provided with dedicated training and onboarding sandboxes.

Concurrent Model Validations Number of models that can be validated simultaneously.		No information available
Validation Throughput Number of full validation runs completed per hour.		No information available
Response Time Average time for interactive model validation tasks.		No information available
Scalability to Large Data Sets Software performance with growing model and data sizes (e.g., stress-tested at +TB scale).		Numerix advertises scalable performance for large data/model sizes (TB+ scale).
Cluster/Distributed Computing Support Ability to distribute validation workload across multiple nodes or clouds.		Distributed computing support (cloud and local clusters) is supported.
Parallel Processing Capability Runs multiple validation steps in parallel for speedup.		Platform supports parallel validation/testing in high-throughput environments.
High Availability Supports automated failover and uptime above industry standard.		High availability options (failover, uptime guarantees) provided.
Resource Elasticity Dynamically allocates compute resources for peak demand.		Resource elasticity supported via dynamic resource allocation (especially on cloud).
Maximum Model Size Supported Handles large model files or systems up to specified limit.		No information available
Concurrent User Sessions Max number of simultaneous active users supported.		No information available

Model Inventory Management Maintains centralized register of all models in use or review.		Centralized repository for model inventory/validation is shown in platform overview.
Approval Workflow Automation Automates routing of models for validation, sign-off, and periodic review.		Approval routing and workflow automation tools built-in for model lifecycle.
Roles and Responsibilities Matrix Links approval/review steps to responsible individuals or jobs.		No information available
Documentation Linkage Connects validation tests with supporting documentation and model rationale.		Model validation tasks and documentation are interlinked throughout the audit process.
Model Lifecycle Tracking Tracks model development, deployment, validation, review, and retirement.		Lifecycle tracking of model dev, validation, and retirement covered in workflow documentation.
Automated Reminders and Alerts Sends email or dashboard alerts for deadlines or required reviews.		Automated reminders and dashboard alerts for reviews and deadlines included.
Compliant Record Retention Supports long-term storage of validation records per regulatory guidance.		Record retention compliant with regulatory requirements for pension funds.
Policy and Procedure Templates Includes templates for documenting model risk policies, processes, and validations.		Template libraries included for policies, documentation, and model risk controls.
Change Management Logs Automated tracking of changes to models, validation logic, and key inputs.		Change management logs are automated and linked to model versioning.
Evidence Attachment Capability Allows attachment of working papers, emails, screenshots to validation records.		No information available

24x7 Technical Support Support/helpdesk available round the clock.		No information available
Custom Development Services Vendor offers additional customization services or development upon request.		No information available
Service Uptime Commitment Guaranteed system uptime per year.		No information available
Patch and Upgrade Frequency Number of software upgrades or patches released per year.		No information available
Onboarding and Training Programs Vendor provides comprehensive onboarding, training and certification programs.		Vendor offers both standard onboarding and custom training programs.
Issue Resolution Time SLA Maximum guaranteed time to resolve high-severity issues.		No information available
Named Account Manager Dedicated account manager provided for ongoing support.		Dedicated account manager provided for enterprise clients as part of SLA.
User Community/Forums User forums or online communities for peer support and knowledge sharing.		Active user community and support forums (as per vendor site).
Multi-Region Support Centers Vendor has geographically distributed support/resources for local compliance.		No information available
API/Integration Support Services Vendor will assist with systems integration and bespoke API connections.		Vendor offers professional services for API/integration support.

Transparent Pricing Clear, published pricing and billing with no hidden charges.		Transparent and published pricing noted on vendor website.
Modular Licensing License individual modules/features as needed.		Modular licensing available by feature/module according to product literature.
Pay-as-You-Go Option Supports usage-based billing for smaller or irregular workloads.		Pay-as-you-go and usage-based licensing available for certain solutions.
Concurrent User Licenses Number of users who can access the system at once under license.		No information available
Enterprise Discounting Volume or enterprise-wide discounts available.		Enterprise and volume discounts are offered as per vendor commercial page.
Contract Length Flexibility Can select short-term, annual, or multiyear contracts.		Contracts are available with flexible terms: annual, multi-year, or short-term.
Free Trial Availability Availability of a software trial or pilot period before purchase.		Free pilot/trial available upon request for qualified customers.
Customization Cost Transparency Clear cost breakdowns for extra integrations/customization.		Custom integration and configuration costs fully outlined in scoping proposals.
Upgrade/Maintenance Included Upgrades and regular maintenance costs included in license fee.		Regular platform upgrades and maintenance included in basic license fee.
Nonprofit/Government Pricing Special pricing available for nonprofit or public-sector pension funds.		No information available

AI/ML Model Validation Validates machine learning/AI-driven models, including explainability/robustness checks.		AI/ML model validation, including explainability, is a specific capability within Numerix AI risk modules.
Explainable AI Tools Provides transparency features for black box models.		Explainable AI toolkits are included for ML/AI model transparency.
Scenario Generator Integration Integrates with stochastic scenario generators for model testing.		Integration with stochastic scenario generators described for risk/validation testing.
Open Standards Support Supports open-source data/model standards (e.g., ONNX, Predictive Model Markup Language).		No information available
Continuous Integration (CI) Support Provides APIs/tools for CI pipelines and automated model risk management.		CI/CD pipeline API support is available for automated model risk lifecycle management.
Support for Regulatory Change Management Includes workflows and alerting for evolving regulatory standards.		Platform alerts and workflows for regulatory change management are mentioned.
Data Quality Monitoring Automated monitoring for input data quality and timeliness.		Automated input data quality and timeliness checks are performed as part of ETL.
Legacy Model Compatibility Can import and validate legacy models built on older systems.		Legacy model import/compatibility (Excel/VBA, Access, SAS, etc) described in migration guides.
Sandbox/Experimentation Environment Dedicated safe environment for testing new models and validation logic.		Sandbox/test environments are included for validation or experimentation.
Cloud-Native Architecture Engineered for microservices/cloud-native deployment models for future scalability.		Cloud-native architecture references microservice and container-based design.

Numerix Risk Management from Numerix

Product analysis by function

Model Validation Software for Risk Management

Model Coverage (11 Yes /11 Known /12 Possible features)

Accuracy and Validation Processes (9 Yes /9 Known /11 Possible features)

Auditability and Reporting (8 Yes /8 Known /11 Possible features)

Integration and Compatibility (9 Yes /9 Known /10 Possible features)

Security and Data Privacy (8 Yes /8 Known /10 Possible features)

Usability and User Experience (9 Yes /9 Known /10 Possible features)

Performance and Scalability (5 Yes /5 Known /10 Possible features)

Governance and Documentation (8 Yes /8 Known /10 Possible features)

Vendor Support and SLAs (4 Yes /4 Known /10 Possible features)

Cost and Licensing Flexibility (8 Yes /8 Known /10 Possible features)

Innovation and Futureproofing (9 Yes /9 Known /10 Possible features)