Institution route · Hedge funds & QIS
Fast strategies still need an independent second answer.
Your strategy can be fast, levered and model-dependent. The question is not whether the desk has a risk number — it is whether an independent engine can replay it when the tape moves.
Founder-direct intake · NDA before data · review-grade evidence
The risk model should not grade itself. SAA gives the CIO, CRO and investment committee a deterministic challenger for tails, factor exposure, scenario replay and model-risk evidence beside the internal stack. No alpha claim. No execution claim. Just a second answer that replays.
Four questions every fast strategy eventually faces.
The page is for funds where model speed, leverage and mandate complexity make independent evidence more valuable than another dashboard.
Can the number be replayed?
Pain. The desk can explain today’s risk, but can it reproduce last quarter’s exact number under review?
SAA. Hash-pinned output with sources, parameters and replay instructions attached.
Where is the real tail?
Pain. Sub-millisecond approximations are useful until they understate the tail — speed is only worth what it preserves.
SAA. Matched-reference challenger lanes for tail metrics, with explicit boundaries and fail-closed states.
Which factor owns the drawdown?
Pain. A strategy label does not reveal the concentration hiding across factors, names and regimes.
SAA. Factor, PCA, concentration and regime-break views in the same evidence pack.
Who sees dissent?
Pain. Consensus can become theatre when contested evidence is averaged away.
SAA. Governor-visible dissent and INCONCLUSIVE outcomes when the evidence does not support a clean verdict.
Four workflows for hedge-fund risk governance.
Start with one book, one strategy or one model-risk question. Expand only if the evidence changes the conversation.
Tail-risk challenger
Recompute VaR, CVaR, ES, drawdown and recovery surfaces beside the internal engine.
Scenario replay
Replay historical stress and configurable shocks with portfolio state, source trail and verdict hash.
Factor and concentration review
Expose factor crowding, name concentration and regime-sensitive vulnerabilities before the tape does.
Model-risk committee pack
Evidence export for IC, CRO and MRM review: can claim, cannot claim and pending evidence.
Strategy replay
Watch a strategy stress itself.
Run one book through a historical shock, then inspect the tail, the factor movement and the replay hash. The point is not a prettier dashboard — it is a stress answer that can be reproduced after the meeting.
Replay exhibit
One stress run, packaged for review.
The visual belongs below the atmosphere band: a concrete replay object with the case, the fixture boundary and the audit trail in one place.
Levered fixture book · tail delta · replay manifest
Evidence, not status theatre.
Each institution route returns the same object: numbers, sources, owner, replay path and cannot-claim boundary.
DRCET and deterministic compute
An open method for checking whether a fast risk engine returns the Monte Carlo answer, with deterministic numbers and replayable evidence.
See methodology →Routes to the right surface
Risk Analyzer, Global Risk, ARIN and KOKON are used only where their claim boundary fits the institution workflow.
Open solutions →Independence Charter
No replacement claim, no hidden endorsement claim, no stronger claim than the evidence can replay.
Read charter →Founder-direct intake
Bring one strategy or one book.
We return the challenger pack, the reproducibility trail and the exact boundary of what can and cannot be claimed.