Roles installed with Model Risk Management

  • Release version: Xanadu
  • Updated August 7, 2025
  • 2 minutes to read
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    Summary of Roles installed with Model Risk Management

    The Model Risk Management application provides essential roles to manage daily operations related to models effectively. Each role has specific permissions and responsibilities that facilitate various tasks within the Model Risk Workspace.

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    Key Features

    • MRM Admin: Responsible for configuring approval and scoring settings, and managing assessment templates.
    • Model Risk Governance: Enables users to configure approvals, access workflows for submitted models, and modify assessment templates.
    • Model Risk Coordinator: Manages model intakes and tasks, executing actions as a stakeholder.
    • Model Validator: Conducts assessments of assigned models and manages model risk tasks.
    • Model Executive Reader: Views all model-related information within the Model Risk Workspace.
    • Model Task Approver: Reviews and approves model risk tasks for which they are designated.
    • Model Owner: Requests new models and performs assessments when assigned appropriate roles.
    • Model Risk Initiator: Can request new models but cannot perform assessments; must designate a model owner.

    Key Outcomes

    By utilizing these roles, ServiceNow customers can effectively manage model risk, enhance governance, streamline approval processes, and ensure that all tasks related to model management are performed by the appropriate stakeholders. Each role is designed to support specific functions, thereby improving overall efficiency and accountability within the Model Risk Management framework.

    The Model Risk Management application installs the essential roles to perform respective day-to-day operational tasks for managing models.

    Table 1. Roles and their descriptions
    Role title [name] Description Contains roles

    MRM Admin

    [sn_model_risk_mgmt.admin]

    		 The MRM (Model Risk Management) admin can perform the following tasks:
    • Configure approval configurations for Model Risk Management.
    • Create Model Risk Management scoring configurations.
    • Create or modify assessment templates that belong to Model Risk Management category from the Model Risk Workspace.
    • sn_grc_appr.admin
    • sn_model_risk_mgmt.model_risk_reader
    • sn_smart_asmt.template_manager

    Model Risk Governance

    [sn_model_risk_mgmt.model_governance]

    		 User with Model Risk Governance role can perform the following tasks:
    • Configure approval configurations for Model Risk Management.
    • Access the Model Risk Workspace.
    • Perform end to end workflow tasks for all the submitted models.
    • Create or modify assessment templates that belong to Model Risk Management category from the Model Risk Workspace.
    • sn_model_risk_mgmt.model_risk_create
    • sn_smart_asmt.template_manager
    • sn_grc_advanced.evidence_admin
    • sn_grc_appr.admin
    • sn_grc.reader
    • sn_grc.business_user
    • sn_model_risk_mgmt.model_risk_delete

    Model Risk Coordinator

    [sn_model_risk_mgmt.risk_coordinator]

    		 Model Risk Coordinator can perform the following tasks:
    • Access the Model Risk Workspace.
    • Access model intakes and tasks, and perform actions as needed where the user is assigned as a stakeholder.
    • Perform and modify model risk and model risk tasks where the user is assigned as a stakeholder.
    • sn_grc.business_user
    • sn_grc_advanced.evidence_admin
    • sn_model_risk_mgmt.model_risk_reader
    • sn_grc.reader

    Model Validator

    [sn_model_risk_mgmt.model_validator]

    		 Model validator can perform the following tasks:
    • Access the Model Risk Workspace.
    • Perform a smart assessment of models that are assigned to them from the Model Risk Workspace and GRC task page.
    • View the model risks where the user is assigned as a stakeholder.
    • Perform and modify model risk tasks where the user is assigned as a stakeholder.
    • sn_grc.business_user
    • sn_grc_advanced.evidence_admin
    • sn_smart_asmt.actor
    • sn_model_risk_mgmt.model_risk_reader
    • sn_grc.reader

    Model Executive Reader

    [sn_model_risk_mgmt.executive_reader]

    		 Model Executive Reader can perform the following tasks:
    • Access the Model Risk Workspace.
    • View all the information available in the Model Risk Workspace such as model intakes, tasks, issues.
    • sn_model_risk_mgmt.model_risk_reader
    • sn_grc_advanced.evidence_reader
    • sn_grc.reader
    • sn_grc_appr.approver

    Model Task Approver

    [sn_model_risk_mgmt.task_approver]

    		 Model Task Approver can perform the following tasks:
    • View model risks and model risk tasks for which they’re the designated approver.
    • Approve the model risk tasks assigned to them.
    • sn_grc_appr.approver
    • sn_grc.reader
    • sn_model_risk_mgmt.task_read

    Model Owner

    [sn_model_risk_mgmt.model_owner]

    		 Model Owner can perform the following tasks:
    • Request new models from the Employee Center or Service Portal.
    • Perform a smart assessment from the GRC task page when either the business_user or business_user_lite role is assigned.
    • sn_grc_advanced.evidence_responder
    • sn_smart_asmt.actor

    Model Risk Initiator

    [sn_model_risk_mgmt.model_initiator]

    		 Model Risk Initiator can request new models from the Employee Center or Service Portal.
    Note:
    Model Risk initiators can only request a new model but cannot perform assessments. They must define a model owner when raising the model request.

    For more information, see the Employee Center.