MEGA Webinar: Innovation in Model Risk Management
BOSTON, October 29, 2015 – MEGA International will host a webinar on November 18 at 1 pm EST featuring Michael Rasmussen, a recognized expert on governance, risk and compliance issues. He will speak about how to reduce the risks associated with models that are typically used to develop new products or company processes.
“Enterprises develop intricate models for complex planning, to analyze, predict, and represent performance and outcomes that impact operations and business strategy,” according to Rasmussen. “The expanding use of models reflects the extent to which they can improve business decisions. However, models come with risks when internal errors or misuse occurs.”
The webinar will help organizations understand:
- How models are used and the associated risks
- The value of modeling your models
- Growing compliance requirements to address model risk
- How organizations can govern models and mitigate risk
Last month, MEGA received the 2015 GRC Innovation Award from GRC 20/20 Research for innovation in risk management with its solutions for model risk management. These solutions help companies reduce the risks associated with modeling and model testing. They leverage the ability of MEGA's offerings to capture business and enterprise knowledge (via business models) and model logic (modeling the models), and put models in their business context.
The full range of MEGA’s solutions aid companies in their digital transformation journey by providing a united view of the business, its strategies, assets, processes and risks. These solutions eliminate silos of information, helping executives make decisions that lead to business transformation.
The company has long been recognized for its innovation in business solutions by industry analysts. In 2013, MEGA was recognized by GRC 20/20 with the GRC Technology Innovator Award for its integration of EA and GRC capabilities in one platform. Gartner, Inc. has named MEGA as a leader in its EA Magic Quadrant reports for six consecutive years. The company has also been cited as a leader by Chartis Research and Hypatia Research Group.