AVRA Default Statistics is a GUI based product that aides institutions manage IFRS 9, Basel & IRRBB models for which Financial Institutions have either adopted benchmark models, hired external consultants or recruited skilled team of resources.
With the advent of new regulations, Models have come under rigorous scrutiny by Auditors/Regulators, and Financial Institutions are expected to defend these ‘black-box’ models even when they don’t fully understand them. AVRA Default Statistics provide an efficient alternative that is cost-effective, robust & user-friendly and offers model transparency along with process efficiency.
Fresh Development- The system offers a comprehensive suite of functionalities to develop models from the scratch using Bank’s own raw data
Validation & Monitoring- The system is armed with a robust quantitative validation module to assess and monitor the performance of models and uncover vulnerabilities
Existing Calibration- The system is embedded with advanced proprietary methodologies to calibrate models even with scarce data availability and low default portfolios
Automation- The system is also an efficient & auditable platform for Banks to host their existing models that are typically built on Excel sheets or SAS, R or Python codes
Reporting- AVRA offers deep analytics & reporting framework to assist banks with scenario assessment, outcome analysis, portfolio risk monitoring and for producing model reports for multiple stakeholders
End to End Process- The system enables Data Loading & Transformation, Exploratory Data Analysis, Segmentation, Factor Selection, Model Estimation, Challenger Models & Performance Testing
Overlays & Projections- The system is capable in estimating Macroeconomic Correlation, Point in Time Estimation, Forward looking projections, Scenario Analysis & Stress Testing
Extensive Model Coverage- The system covers Probability of Default Models, Loss Given Default Models, Credit Conversion Factor & Prepayment Models for Retail, Corporate, FI and Investment portfolios
No Coding: The system is completely GUI based and does not require any coding expertise
Governance & Auditability: The system enables institutions to inculcate governance and audit trail framework in complex, sophisticated and judgement oriented analytical decisions as well