Yes, absolutely. You will be shocked how complex CMOs might be just to calculate plain cashflow on a tranche (https://www.amazon.com/Handbook-Mortgage-Backed-Securities-7... is a great standard treatise on the topic). Add to this interest rate modeling and prepayment modeling - and we are talking serious logical complexity. And this is the area where people get REALLY pissed when you have bugs.

If the bugs affect your shock preparedness, and liquidity status and mandated holdings/reserves, you might be in a world of hurt: Failing compliance can permit the feds to step in and seize the enterprise, if it's in the regulated space.