AVRA Risk Audit is a GUI based product that helps the institutions to validate every segment of their statistical regulatory implementation like IFRS 9, ICAAP, BASEL and others, and ensure adequate controls are put in place.
Data Transformations, Model Development, Subjective Decisions, and other regulatory decisions combine to generate a complex rule which generate output when the rule is applied to the appropriate question. But how to develop trustworthiness on these complex rules. That is where AVRA Risk Audit comes into play.
Diverse Methodologies- There are numerous techniques to develop statistical models, Risk Audit has wide range of model library encompassing numerous model techniques
Variation Across Time- The system not only tests models at a given time but also compares the test results across time
Help Functionality- Every test in the audit process and its results can be understood and interpreted by one click on the help box
Implementation Library- The system provides a unique opportunity to store all statistical and non-statistical regulatory implementation framework details at one single location
No Coding Required- The system has a complete GUI based framework and does not require any coding expertise
Sophisticated Audit Tests- Powerful estimation engine of Risk Audit enables conducting complex statistical tests with just few clicks
Progress Dashboards- Separate Dashboards are developed for senior managers to monitor the progress of audit exercises carried by their teams
Guide to testing- The system is flexible to automate the audit framework practiced by the institution and enhance the framework further to inculcate best industry practices
Automated Audit Report- The system produces a detailed report covering tests and their results on all aspects of the regulatory framework
Advisory Support- Our Advisory Services team provides installation consulting, training and custom development to suit the needs of the institution