New Pension Library Model

US Governmental Defined Benefit Pension Plans

Slope has published a standard library model for US Governmental Defined Benefit Pension Plans to illustrate an example of how such plans could be modeled in SLOPE. This library model includes the following functionality:

• Single year valuation and multi year projection of liabilities
• Customizable Funding Calculations
• Entry Age Level Accrual Methods

If you would like more information regarding SLOPE’s pension capabilities and how to set up a model, please contact the Slope team.

Updated Slope Life Library

IFRS 17

A new “Data Product” was created to enable the integration of the external data for aggregation to high levels and allocation to more granular levels of detail within SLOPE. You can find this Data Product in the list of liability products. Example use cases for this Data Product include uploading: 

• Experience Data for Experience Adjustments
  • Bottom up model point aggregation of actual premiums, claims, expenses
• IBNR
  • Bottom up model point aggregation of IBNR
• Company Expense data
  • Top down allocation of Company level expense data to cohorts using allocation formulas

Bermuda

Calculations for Bermuda reporting requirements have been merged into the standard Slope Life Library model. Library includes support for:

• Calculations under the Bermuda Solvency Capital Requirements (BSCR) framework, including the Scenarios-based Approach (SBA)
• Full asset-liability management across the Bermuda standard scenarios

New Run Controls

New Projection Output switches have been introduced to control turning on/off the calculation of each accounting basis. This enables users to have their models focus only on calculations that are relevant for them, which should speed up model run times by having irrelevant calculations disabled. These are configured in the projection settings by setting the data table within the Projection Output Set table structure equal to the desired bases for the run.

For example, if you wish to only run best estimate cashflows only, you would set the data table under Projection Output Set to point to “Default – Cash Flows Only”. See support article on Run Settings for more details

Data Mapping for Gender and Modal Frequency

Data mapping tables have been introduced to map from different data coding standards for both Gender and Modal Frequency (e.g. Premium Mode/Frequency) coming from policy admin systems to standard convention that is used in SLOPE. This enables users to accelerate model development by allowing them to not need to set up variable formulas within SLOPE or ETL scripts to process these data fields to be used in the SLOPE calculations. These mappings are automatically used in the SLOPE Life Library calculations and can be customized to suit each user’s unique needs. This is done in the projection settings by editing the data tables within the “Data Mapping – Gender” and “Data Mapping – Mode-Frequency” table structures.

Product Specific Updates and Fixes

• Whole Life product now includes Pre-1980 Reserve and Nonforfeiture methods for US reporting
• Individual Disability Income product updated to use calculated range arrays for claim calculations
• Fixed an issue related to the timing of reported investment income that occurred when buying an inforce bond on dates other than the coupon payment date

New Workbooks

Governmental Pensions

• Pension Trace Lives (Active, Retirees)

• Multiple Trace Lives Summary

• Pension Liabilities by Benefit Definition

• Pension Liability by Participant
  Presents a single summary of liability for each valued participant by status
  

Note: New workbooks for Pensions can be found in the “Slope Pension & OPEB” workspace folder which can be accessed via the folder icon in the lower left corner of the Projection Modules in the Workbooks tab. If you would like access to the Pension workbooks for your workspace, please contact the Slope team.

Coming Soon

• Experience Study Module
• Additional IFRS 17 validation workbooks

New

New Formula Option: Dynamically Aggregate Array Values

The formula editor now has an option to take the sum, product, minimum, maximum or average across all array values. Similar to using a SUMIF or other conditional formulas in Excel, this new operand allows for conditional operations or manipulations across the array values.

Change

Changed Validation Error to Warning

Users will now be warned when an Investment Strategy Portfolio variable references a product aggregate with ‘After Investment’ timing set. This is to inform users of potential misconfigurations.

Fixes

• Merge mapping logic has been updated to better handle name changes.
• Updated the Debug View to show all fields for Present Value and Goal Seek formulas.
• User will no longer get an unknown error when merging a variable that does not have an array set in the variable properties of the source model and does have an array set in the variable properties of the target model.
• Resolved a temporary issue resulting in unknown errors on the run logs.

New

Merge Multiple Table Structures and Data Tables at Once

The Governance module now allows users to merge multiple table structures and data tables at once so that each data table and table structure does not have to be individually merged one at a time. All nested table structures included in the mass merge will be automatically mapped for a more efficient merge experience.

In addition to the mass merge capabilities, the merge module now refreshes the items in the left hand panel upon merging to remove the changes that no longer exist between the two models.

In-App Resource Center

The new Resource Center provides integrated support article searching and highlights new features within the Slope Application. Walk throughs and additional onboarding content will be available in the Resource Center in the future.

Enhancements

Copy and Paste Workbook Elements and Worksheets

Workbook elements (tables, visualizations, etc) can no be copied and pasted for easy repurposing and editing. You can also copy and paste worksheets.

Delete Workbook Folders

Folders can now be deleted from My Documents or your account’s workspace from within the Workbooks module.

Export All Elements in a Workbook to Excel

You can now export all elements (tables, visualizations, etc) to a single excel file with the ‘Send Now’ functionality. Each element will be sent in a different worksheet of the same excel file.

Fixes

• Pasting a part of a formula in the editor will no longer clear out the operator.
• Consistently showing the correct variable name in the error message when an aggregate calculation has an empty value.
• Resolved an issue in which a renamed variable was listed multiple times when merging model changes in the Governance module.
• Corrected the headers on the grouped projections view in the Projections module.
• The state of the ‘is required’ property can now be merged in the Governance module.
• Users can now merge model point field change if the alias on target model matches a name change.
• Validation has been added to workflows to notify users that workflows have a limit of running 40 projections at once.
• Large scenario tables should no longer cause projection delays.

New

Monte Carlo Simulation

Slope now offers both a Random Number Generator and Statistical Distribution function in the formula editor so that they can be used to run Monte Carlo Simulation. Slope supports Probability, Cumulative and Inverse Cumulative function types and the following distributions: Beta, Binomial, Exponential, Gamma, Lognormal, Normal and Poisson.

After selecting your desired distribution type, you can use the formula wheel to provide a value, calculation or variable for the additional distribution parameters. When the Random Number Generator is used in combination with the Statistical Distribution function, users can run Monte Carlo simulations to predict a variety of outcomes.

Click here for more information on Monte Carlo simulation in SLOPE.

Enhancements

In App Sorting and Filtering on Data Table Columns

Clients can now sort and filter on data table columns to more easily review, sort and edit data without having to export their table to Excel. Columns with a data type of string, decimal, integer, boolean, date and drop down list can be sorted or filtered.

Sort order updates and ‘clear column’ changes can be saved by using the save button but data value filtering will not persist upon save.

Improved Error Information for High Performance Mode (HPM) Projections

High Performance Mode (HPM) now offers improved error reporting. HPM errors are found on the Run Logs tab and Projection Run Summary on the Workbooks tab. A new ‘Error Report – HPM’ tab on the Projection Run summary will show new columns to provide additional info for troubleshooting. New columns include: variable name that errored, time index that the error occurred, data table and table structure (if the variable was a data table read), portfolio name, product name, model point record # and current array value when applicable. Errors are also grouped by the variable where the error originated.

On the Debug View for HPM projections, ‘Projection Time’ has been added and shows the time period that the projection was processing when the result was calculated. The column formerly called ‘Time’ has been updated to ‘Time of Result’

Easily Filter Workbooks to show Monthly, Quarterly or Annual Results

Workbook data tables and visualizations can now be easily filtered to view monthly, quarterly or annual results using a ‘View By’ control. Instructions on how to setup the control and filter the data are available here.

Changes

• The Operator Control is now integrated into the end of a formula instead of inserted in between two operands to better align with the typical order of operations for creating a formula.
• Non breaking spaces on Data Table Data and Index columns are now being converted to a standard space so they do not result in an error retrieving records at runtime.
• The Bond Equivalent option for Yield Curve Rates will automatically be selected when rates are fetched from the Treasury for scenario generation.

Note: The change to always calculate variables that are non time indexed has been put on hold. This will allow clients an opportunity to update their models to prevent excessive errors on variables or specific model points for a variable that did not need to be calculated. Communication with timelines and model update recommendations will be sent via email to all clients well in advance of this change.

Fixes

• Slope will now return a descriptive error message when there is an invalid nested data table.
• The validation message for an empty table will now be cleared when importing a ‘File Only’ table over top of an empty table.
• The correct time index is again being reported in errors when using a non-default data table.
• A complex array aggregation configuration will no longer result in an unknown error at runtime.
• Calculating a table formula for the first time within a goal seek chain will no longer result in an unknown error at runtime.

New

Projection Workflows for Sensitivity Analysis & IFRS 17

Clients can now group and kick off multiple projections in a workflow to allow for easier setup, execution and reporting. The most common use cases for using workflows include IFRS 17 reporting and sensitivity analysis which both require running multiple projections. For information on how to create and run a workflow, visit our support documentation here.

Search for Operand in Formula Editor

Users can now type to search for an operand (variable, data table, formula, etc) for faster formula creation.

After clicking the formula wheel icon (orange circle with three bars), simply begin typing to search across variables and formula types. In the example below, searching for Lapse returns several variables and data tables to select from. Upon choosing the desired operand, you will be prompted to provide any additional details.

Enhancements

Updated Navigation & Projection Changes

The top navigation menu has been updated to provide more descriptive labels. We have also combined the Execute and Analyze modules into a single module now called ‘Projections’. Selecting a projection that has not been run or that is actively running, will open the Projection Details screen. Selecting a projection that has been run, will open the Workbooks screen so you can view results.

In addition to these navigation updates, clients can now duplicate not started and running projections.

View Relationships for Model Point Fields

Users can now view the relationships for Model Point Fields from the Model Point File Definition using a new option within the action menu found next to each field.

Model Copy No Longer Includes Unnecessary Table Structures and Tables

When copying a model (e.g. The Slope Life Library) and selecting some but not all products, the table structures and tables that are not used by the selected product(s) and portfolio(s) on the copy will be removed from the copy. This is to eliminate unnecessary tables from showing up in models and projection templates.

Model Comparison Performance Improvement

The Model Comparison feature found within the Model Governance module is now faster allowing for a quicker review of differences between two models.

Default Cursor in Modals

Now the cursor will default to the first field in a modal so that users can immediately begin typing into the first field without first having to select or click in the field. (e.g. Name on the Create New Variable modal)

Ability to Map Array Values when Merging

Users can now map array values when they are merging a variable with a formula that uses a static array with single value aggregation so that their formula is valid in the target model following the merge.

Fixes:

• Files with special characters in the worksheet name can now be uploaded without error.
• The correct excel row # for errors will now be reported when loading model point files (previously off by 1).
• Projections run with models that are set to “Copy Only” are again showing in the projection list.
• The Merge module will now show all arrays when merging a variable with a formula that references a static array with single value aggregation set or a constant with a data type of array.
• When merging an IRR formula, the Merge module will detect and show differences for the Behavior and On Failure (warn/ignore) fields.
• Run Logs are again available for projections that Failed to Start.
• Users should be now be able to consistently access Slope Academy when logged into the Slope application.

New

Use a Formula to Read a Model Point Field by Name

Users can now select a Model Point Field by name using a formula as a more dynamic alternative to selecting a single field by name from the drop down. All formulas that return a string value are considered valid in the variable editor. When the projection is run, Slope will attempt to match the string value to a Model Point Field name and will error if there is not a match.

Enhancements

Virtual Folders on Projection Templates

Users can now select a folder on a projection template so that all projections run from the template are automatically organized into the set folder.

Sunsetting Snapshots

Users will no longer be able to take new snapshots of models. The best approach for preserving a model at a point in time (e.g. after year end valuation) is to set the model to Copy Only using Model Permissions and make all edits to a new copy.

This approach makes it easy to compare the Copy Only (former version) with the edited version using the Manage model to review all changes made to the model.

Additional Information available Available on the Debug View for Arrays

• When only some of the static array values were run in a projection, the calculated values will display and those that don’t have results will indicate that there is no result available.
• Array values deleted after the run will be displayed as struck through and explain the value no longer exists.
• When a variable is changed to be an array variable after the run, and there is a single formula for an array (e.g. dynamic array) the formula will be displayed in the debug view.
• When there is a result without an array value we will show the result with no array value selected.

Fixes

• Empty data cell values on data tables are no longer causing unknown errors.
• The control panel has been removed from the Error report displayed on the Run Logs tab.
• The Asset Allocation page is properly reloading after an asset is deleted following the use of the search panel.
• The header of a data table is no longer included in the row count of an error message.
• Merging a table structure change will now trigger data table versioning on the destination model.
• Model validation is now being triggered when merging a portfolio or product.

New

Folder Organization for Models

Clients can now create, rename and delete folders for organizing their models.

Create folders using the + icon next to ‘Workspace Model Folders’ and add new subfolders, edit the name and delete using the 3 dot icon which appears upon hover over a folder. Models can be added to a folder or subfolder by dragging and dropping into the desired location.

New Option to Lock and Unlock Projections

Completed projections can now be locked so that the results are protected from deletion.

Both Model Developers and Model Admins can lock a projection but the Model Admin role is required to unlock a projection. Please contact us at support@slopesoftware.com if you wish to customize who can lock and unlock a projection.

Enhancements

Arrays

• Clients can now specify a single formula for all array values which makes model management more efficient when array values are added, removed and modified but should all use the same formula.
• When removing an array from a model via the merge tool, users will now be warned which variables will be impacted.

High Performance Mode

• The ‘Output Prior Time Period Results’ setting is now available in High Performance Mode.
• Results for Product, Portfolio and Company variables that error will now be output for improved trouble shooting using the error report.

Workbooks

• The Share button will now copy a link to the current workbook and worksheet (tab) with the set filter values for improved collaboration.
• The data lineage view is now available in the lower left corner of Workbooks (when in Edit mode) to assist with troubleshooting and tracing data sources.

Changes

• The Time Indexed setting will be automatically enabled when Post Projection is enabled to prevent invalid setups.
• Circular reference validation errors will no longer display for a non-time indexed array variable that uses a single value or single value formula and references another array value.
• The selected array aggregation method will persist when the array variable referenced by the formula is changed.
• The selected array value will persist when the array variable is changed in the formula editor and the array value is available on the newly selected variable.

Fixes

• Resolved an issue with data table column sort order preventing users from creating or editing index columns.
• Target value match rules will no longer result in failed to start errors for projections that use an investment strategy.
• The sort order on the version drop down in nested data tables has been fixed so it is in numeric order.
• Model copies using the auto include setting are consistently succeeding again.
• The calculation engine will now parse file-only data tables past rows with errors.
• Resolved an issue in which calculation order in the formula builder for formulas using product aggregates impacted results.

Results 2-10x Faster for Valuation & Pricing Projections

Slope now offers a High Performance mode for running valuation and pricing projections which can reduce runtime by up to 90%. High Performance mode is recommended for static projections that currently take an hour or longer to run.

While there is no additional cost to access High Performance mode, these projections are measured in compute units (vs core hours) and therefore require review and acceptance of the updated terms of service. To learn more and request access to high performance mode, visit here.

Enhancements

Time Period added to the IRR Formula

Users can now specify a time period over which the IRR formula operates so they can limit the IRR value to only the applicable future time periods.

Additional Enhancements:

• Users can now copy and paste a piece of a formula into an empty operand in the formula editor.
• Projections will now display an informative warning when all model points are filtered out of a projection.
• Model Point File Definition Aliases can now be merged using the Change Management module.
• A description field has been added to Decrement Tables and Improvement Scales.
• The last modified date on the Debug view now updates when a formula for a Static Array variable is updated after the projection was run.

Fixes

• There is no longer a thin white line showing through the the operator on the formula editor.
• The ‘Output Prior Time Period Results’ and High Performance projection template settings will now be properly set when making a model copy or export.
• Model Point File field references to an array variable are now being detected and prompting confirmation when deleting a model point field.
• The +/- buttons on the ‘Time Index’ input on the Debug view are working without the user having to select a variable first.
• When generating a scenario file, Slope is now validating that a currency is set on the Economic Scenario Structure.
• Decimal place mismatches (e.g. 5 vs 5.00) on data tables with a range lower bound lookup will no longer result in a failed lookup and projection error.
• The Debug view will now display ‘True’ instead of 1 on boolean variables

Coming Soon

Results 2-10x Faster for Valuation & Pricing Projections

In March 2023, Slope will offer clients a High Performance mode for running valuation and pricing projections which can reduce runtime by up to 90%. High Performance mode is recommended for static projections that currently take an hour or longer to run.

While there is no additional cost to access High Performance mode, these projections are measured in compute units (vs core hours) and therefore require review and acceptance of the updated terms of service. To learn more and request access to high performance mode, visit here.

Enhancements

Global Setting for Company Variables

A new ‘Global’ setting has been added to company variables so that users can pre-calculate values that are shared by multiple products or need to be pre-processed (e.g. Run Settings variable in the Slope Life Library). Enabling this setting will ensure that these variables are calculated first and their results are available for all other variables including lower levels (product and portfolio).

Add Datasets to Workbooks

Users can now add additional datasets to their workbooks. A step by step explanation of how to add datasets can be found on our support site.

Changes

Account Switching for Multi-Account Users

Users with access to multiple accounts will now be brought to the last active account upon login and will be able to switch to another account using the account name drop down in the top right of the application.

Fixes

• Model Point File validation performance has been improved.
• Users will now be notified when a data table does not match the column order on the table structure.
• The Slope logo is once again displaying in the password reset emails.
• Duplicate variables with blank products that were previously deleted will no longer show on the table structure delete confirmation screen.
• The import screen for decrement tables now says “Improvement Base Year” instead of “Improvement Start Year” for consistency with the label used on other screens.
• Products run dynamically are again showing results for all time periods for force recalc results.

Enhancements

Debug Tab : Variable Properties, Last Updated Date & Sharing

Users can now view a variable’s properties and settings on the Debug tab for faster trouble shooting. The settings on the debug view are view only with a link to navigate to the variable and edit as needed.

On the right hand side of the variable properties and settings panel, Slope will display a last updated date. If the variable has been updated since the projection was run, a warning icon will display. When a variable has been updated after a projection was run, the values displayed are from the projection results but the properties and formula reflect the current state of the model. This warning should alert users to potential discrepancies.

The Debug tab also has a new ‘Share’ button in the top right corner so that you can share a url with the selected projection and other filter values currently set. This is helpful when sharing results with a colleague or Slope’s support team.

API Enhancements:

The Workbook ID and Element ID needed to download projection results via the API has been added to the url when you click the desired workbook table within the Slope application. For more information on downloading results via the Slope API visit our Support site.

Workbook Enhancements:

Two new functions are now available for use in workbooks: FirstNonNull and LastNonNull. FirstNonNull repeats the first non-null value of a given column for every row in a column. LastNonNull repeats the last non-null value of a given column for every row in a column.

Conditional formatting column selection now allows the user to select multiple columns without the drop down menu closing with each selection to allow for more efficient configuration.

Fixes

• Resolved an error that occurs when an out of date data table version is merged into another model.
• Data tables for deleted table structures will no longer show up in the copy confirmation modal.
• Improved error messaging to provide informative descriptions in place of more generic errors when a product is missing on a projection and when a template name is a duplicate.
• Library models will consistently load when selected in the Model Development module.
• Resolved an intermittent file upload issue with large model point files.