Line of business · Specialty and the London market
Every external model you licence owes a fresh validation each year, and it is still assembled by hand.
Understand the model. Name the perils it does not cover. Back-test it. Justify the tooling. Govern every change to it — per external model, per year. The evidence for all of that exists, scattered across inboxes, spreadsheets and the memory of whoever ran the numbers.
What breaks in a syndicate or managing agency today
The dossier is reconstructed, not recorded
The run happened in March. The evidence about it is written in November, from whatever survived — a spreadsheet, a thread, and the memory of whoever ran it.
Expert judgement lives in an inbox
The judgement that actually moved the number was made in a meeting. What reaches the dossier is a summary of a summary, with no way back to what was argued.
A vendor model version changes under you
Adopting a new version of a licensed model is a capital-grade event handled as a maintenance ticket, and the comparison against the outgoing version is rarely kept.
An irreproducible run still ends up in the dossier
Until someone asks for the seed. A run that cannot be re-executed is not weak evidence — it is inadmissible, and finding that out during a review is the expensive way.
What holds today, and how you check it
How we count this
The obligations are the market’s own, per external model per year: understand it, name its unmodelled perils, back-test it, justify the tooling, govern its change. Source: the catastrophe-model dossier in our research corpus, section 7.2.The iteration floor is the engine’s own seeded configuration. Seeded and pure is what makes a re-run admissible rather than merely repeated.ROS/src/services/gtm-genesis/blueprint/MonteCarloEngine.tsThe gate ratio counts elements exercised against the deployed service, not elements the schema defines.NCT/services/nexus-workflows/src/services/tool-executors/sentinel-executors.tsWhich pillars answer it
P6 · for the Model Risk Lead
Validation-Evidence Autopilot
The annual validation dossier compiles itself, out of runs that were reproducible on the day they happened — rather than being reconstructed once a year from memory and spreadsheets.
Seeded runs, logged expert judgements and champion–challenger records accumulate as the year happens, so the dossier is compiled rather than reconstructed.
ROS/src/services/gtm-genesis/blueprint/MonteCarloEngine.tsP3 · for the Chief Risk Officer
Cross-Model Computed Gate → Sealed Certificate
Two or more heterogeneous models re-derive the answer. A computed — not learned — agreement predicate must pass before anything is released, and the inputs and model versions are sealed into the record.
Before a model change releases, two heterogeneous models must re-derive the answer and agree — the inputs and versions are sealed with the verdict.
NCT/services/nexus-workflows/src/services/tool-executors/sentinel-executors.tsP5 · for the Chief Compliance Officer
One-Log, Many-Regulator Evidence Fabric
One governed event stream compiles into every regulator’s artefact, instead of four teams reconstructing four different stories from the same week.
One event stream, rendered per reader: the syndicate’s own file, the managing agent’s oversight record and the supervisor’s pack are the same thread.
NX/services/nexus-workflows/src/services/governance.tsHow the dossier compiles
The dossier compiles from runs that were reproducible on the day — each one re-executable from its own seed and inputs.
REFUSED
A run whose seed or inputs no longer re-derive is marked inadmissible, and the dossier refuses to compile around it.
The alternative is a dossier that looks complete and contains a run nobody can reproduce. Finding that during a review costs more than finding it on the day, which is the only reason to make the refusal loud.
What you can do next
Details for support
HASH_MISMATCH
Start with one external model
You can put a single licensed model into the run ledger with its validation calendar and change nothing else. The next time that model is re-run, its evidence accumulates as it happens — and the year after that, the dossier is a render rather than a project.