ZMdesk V4.20 Receives Model Certification Validation

Posted on 03/25/2015 by

 ZM Financial Systems (ZMFS) recently received third-party Model Certification validation for its flagship product, ZMdesk, Version 4.2. This validation is accordance with model validation procedures, outlined in OCC Bulletin 2000-16 and the OCC Guidance on Model Risk Management, 2011-12.

 

Certified by Howard Stern, PhD, of Stern Associates Consulting, LLC, the ZMdesk 4.20 validation process examined several aspects, ensuring “calculations and output are accurate implementations of the documentation, and in agreement with industry benchmarks and best practices.”  

 

Scope of the validation included:

  • Cash Flow Metrics
  • Prepayments
  • Discount Curves
  • OAS Calculations
  • Servicing Model
  • Comparative Analyses
  • FASB 91
  • Non-Maturity Deposits

 

“While third-party verification is a requirement by the FDIC Advisory in Interest Rate Risk Model Governance, having our latest version examined provides our clients with extra piece-of-mind that they’ve made the right choice in using ZMdesk for their daily calculations,” said Butch Miner, CPA, CFA, co-founder, ZMFS. “With more and more focus being placed on enterprise-wide risks and cloud-capable offerings, we worked to further improve ZMdesk’s scalability and efficiency by enhancing database calculation functionality – especially for larger bank data sets and for institutions that want to add on additional machines and users.”