Data preparation and controls
We collect the agreed exposure, policy, claims, and finance inputs, run quality checks, and freeze a versioned snapshot.
Firefly RiskOS · Risk and Actuarial Operations
We run the close cycle through to your experts’ sign-off.
Every cycle, we prepare the data, coordinate runs on your approved models, reconcile the results, and assemble the review pack.
Unit of work · A completed close or model cycleScroll to explore
The problem
The ECL or reserve figure is the easy part.
Then finance and the reviewers ask what went in, what moved, and who signed it, and the answers sit in email.
Who it servesCRO offices, chief actuaries, controllers, and model-management teams
What the service includes
We do the work within the limits of your policy.
Your service schedule lists the tasks your operation includes.
SICR and IFRS 9 staging
Under your criteria for a significant increase in credit risk (SICR), we allocate stages by rule and list each transfer.
ECL and CECL runs
We coordinate expected credit loss (ECL) or CECL runs on your PD, LGD, and EAD models and approved scenarios.
Reconciliation, movements, and overlays
Once the runs finish, we reconcile results to source and ledger, explain movements by stage, and prepare management overlay proposals for your approvers.
Reserving triangles and IBNR
For insurers, we build reserving triangles and prepare incurred-but-not-reported (IBNR) runs on your methods.
Model monitoring and IFRS 17 data
We run the back-testing you approve and prepare inputs for your IFRS 17 and Solvency II engines.
How the service works
Five stages, and who does each one.
Each stage runs on the method that fits the cost of an error.
- 01
Prepare
Approved rules
We validate and freeze the input set under your approved data-quality rules.
InputSource data and requirements
OutputA controlled data snapshot
- 02
Run
Your systems
Your approved engine executes the model; we coordinate the run and record its context.
InputApproved model and parameters
OutputVersioned model outputs
- 03
Reconcile
AI agent
Between runs, an AI agent traces each difference and drafts the explanation.
InputOutputs and comparisons
OutputAn analytical review package
- 04
Review
Your team decides
Your experts challenge the package and sign it off or ask for a rerun.
InputPackage and questions
OutputAn approved result or a rerun
- 05
Deliver
Approved rules
We pass the approved figures to finance and reporting under your rules.
InputApproved figures and evidence
OutputA completed cycle with its evidence
What you receive
The finished work and the evidence behind it.
Unit of workA completed close or model cycle
- Controlled inputs and run context
- Stage allocation, with transfers and exceptions
- Reconciliation and movement analysis
- Expert sign-off history and cycle evidence
Systems and technology
We work in your systems, on open-source modules.
Connected to your systems
Risk and actuarial engines, data warehouses, loan and policy records, claims systems, ledgers, and model inventories.
Built on Firefly OpenPlatform
Your teams can read the code of each module.
Measures
We measure the work you receive.
- Cycle completion against calendar
- Input and reconciliation exceptions
- Reproducibility of run evidence
- Review rework and unresolved findings
- Model-monitoring breaches reported on schedule
Scope, pricing, and growth
Start small and expand on evidence.
A focused starting point
One recurring cycle on an engine you already use.
How the service is priced
Per close cycle, portfolio cycle, or model-monitoring service, with a recurring commitment.
Where the service can grow
Add portfolios, reporting cycles, monitoring services, or ReconcileOS.
Questions
What buyers ask before they scope.
Does RiskOS replace our actuarial or risk engine?
No. We coordinate runs on the engines and models you approve.
Is this independent model validation?
No. Independent validation is separate work. Running your models and documenting the runs does not validate them.
Can one service cover banking and insurance?
Yes, as two services. A bank’s IFRS 9 close and an insurer’s reserving cycle each have their own experts, inputs, and acceptance criteria.
Your first operation
Bring us one operation.
Tell us the process, the volume, and what “done” looks like. We will come back with a scope, a deployment plan, and a proposal.