Frameworks

Framework Introduction

A framework is a set of instructions for how models should interact with each other. It is a way of organizing models and set conditions for when and how the models run. Frameworks make it easy to switch out and update models without changing the stream process in which they run.

An example is a framework specific to a portfolio (say, US Mortgages) that contains all the models (for example PD and LGD models) applicable to that portfolio and the filters (say, geographical regions) that determine when each model would run.

Multiple models and filters can be included in a framework and a model, or a filter can be included in multiple frameworks.

Frameworks can be created and edited through the UI.

Creating Frameworks

1. Navigate to the Frameworks tab.
2. Create a new framework by clicking the icon on top of the framework list on the left. A new framework appears on the right side of the screen.
3. Enter a name for new framework.

4. Select a framework type from the drop-down menu.

   Framework types pose conditions on the framework. A framework type can for example require that certain models (or rather model types) are included. Framework types are set up by the VOR administrator as part of the implementation.

5. Add a model to the framework by clicking the Add Model button.

6. In the Model Selection pop-up screen include a model by checking the box to the left of the model name. Then click the Save button. The included model now shows as part of the framework.

   Models can be created in the Models tab.

7. Add a filter to the model by expanding the model on the to the right and then click the Add Filter button.

   Filters can be created in the Filters tab. Filters have to be of Model type to be applied here. Only one filter can be applied to a model at a time.

8. Repeat step 5-7 as necessary. Then save the framework by clicking the icon on the upper right. Enter a comment for the framework save and click the Save button.

Editing Frameworks

1. Navigate to the Frameworks tab.
2. Select a framework to edit in the Frameworks list on the left. That brings up the framework details on the right.
3. Add a model to the framework by clicking the Add Model button.

4. In the Model Selection pop-up screen, include a model by checking the box to the left of the model name. Then click the Save button. The included model now shows as part of the framework.

   Models can be created in the Models tab.

5. Add a filter to the model by expanding the model on the to the right and then click the Add Filter button.

   Filters can be created in the Filters tab. Filters have to be of Model type to be applied here. Only one filter can be applied to a model at a time.

6. Edit which filter is applied to a model by expanding the model on the to the right and then click the Edit Filter button to select a different one or remove it altogether.

7. Or instead, remove a filter applied to a model by expanding the model on the to the right and then click the Remove Filter.
8. Clear all model mappings in the framework by clicking the icon.
9. Remove a single model from the framework by expanding the model on the to the right and then click the Remove Model button.
10. Save the framework changes by clicking the icon on the upper right. Enter a comment for the framework save and click the Save button.