Prometeia, the Italian risk management and advisory specialist, has completed the implementation of its Prometeia Model Journey (PMJ) platform at the African Development Bank (AfDB), marking a significant step in the firm’s international expansion.
The project was delivered through close collaboration between AfDB’s Risk Management and IT divisions and Prometeia’s own consultants. The rollout included dedicated on-site training and deployment support.
PMJ is Prometeia’s enterprise platform for Model Governance and Model Risk Management, designed to give institutions end-to-end oversight of how their models are built, tested and maintained.
Prometeia senior partner and head of risk management international business Massimo Pedroni said, “The successful completion of the project marks another important milestone in Prometeia’s international growth and confirms the key role played by integrated Model Governance platforms in managing increasingly complex model ecosystems while meeting evolving regulatory expectations.”
The challenge at AfDB is a common one. Models are developed by multiple teams across the organisation, while governance is coordinated centrally. Prometeia’s platform now serves as AfDB’s central governance layer. It provides full control over model development, validation steps and audit review across the entire model lifecycle, covering inventory, workflows, validation, monitoring, documentation and reporting.
AfDB chief quantitative risk officer Paul Angoua said, “The successful implementation of Prometeia’s platform is a strategic achievement that will enable the African Development Bank to manage model risk more effectively by centralizing and coordinating all internal model-risk-governance activities within a single system, thereby supporting the Bank in fulfilling its development mandate.”
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