How To Fix VAL857 - Probability of default not found due to missing default type group

SAP Error Message - Details

• Message type: E = Error

• Message class: VAL - Treasury: Messages for General Valuation

• Message number: 857

• Message text: Probability of default not found due to missing default type group

What causes this issue?

The system could not determine the probability of default since the
default type group is missing.

System Response

You get this error message because the default type group has not been
maintained<LS> </>in Customizing.

How to fix this error?

Enter the default type group in Customizing activity
<DS:SIMG.TRPAV_PS_CL_ODR>Define the Position Classifier Order</>
(maintenance view: TRPAV_PS_CL_ODR).

Procedure for System Administrators

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message VAL857 - Probability of default not found due to missing default type group ?

  The SAP error message VAL857 indicates that the system is unable to find the probability of default (PD) because the default type group is missing. This error typically occurs in the context of credit risk management or financial analytics within SAP, particularly when dealing with credit ratings, risk assessments, or similar financial calculations.
  Cause:
  
  Missing Default Type Group: The primary cause of this error is that the default type group, which is necessary for calculating the probability of default, has not been defined or is not available in the system.
  Configuration Issues: There may be configuration issues in the SAP system related to credit risk management settings, where the default type group is not properly set up.
  Data Inconsistencies: There could be inconsistencies or missing data in the master data related to the financial instruments or entities being assessed.
  
  Solution:
  
  
  Define Default Type Group:
  
  Navigate to the relevant configuration settings in SAP (usually found in the Financial Services or Risk Management modules).
  Ensure that the default type group is defined and properly configured. This may involve creating a new default type group or modifying an existing one.
  
  
  
  Check Master Data:
  
  Verify that the master data for the entities or financial instruments involved includes the necessary attributes related to default type groups.
  Ensure that all relevant data is complete and accurate.
  
  
  
  Review Configuration Settings:
  
  Check the configuration settings for credit risk management to ensure that all necessary parameters are set correctly.
  Consult the SAP documentation or your system administrator for guidance on the specific settings required for your version of SAP.
  
  
  
  Consult SAP Notes:
  
  Look for any relevant SAP Notes or Knowledge Base Articles that may address this specific error. SAP frequently updates its documentation and provides fixes for known issues.
  
  
  
  Testing:
  
  After making the necessary changes, perform tests to ensure that the error no longer occurs and that the probability of default can be calculated correctly.
  
  
  
  Related Information:
  
  SAP Modules: This error is often related to modules such as SAP Risk Management (FIN-FSCM-TRM) or SAP Credit Management (FIN-FSCM-CR).
  Documentation: Refer to SAP Help Portal for detailed documentation on configuring credit risk management and default type groups.
  Support: If the issue persists after following the above steps, consider reaching out to SAP support or your internal SAP support team for further assistance.
  
  By addressing the missing default type group and ensuring proper configuration, you should be able to resolve the VAL857 error and successfully calculate the probability of default.