This paper presents work on model-based automation of failure-modes-and-effects analysis (FMEA) applied to the hydraulic part of a vehicle braking system. We describe the FMEA task and the application problem and outline the foundations for automating the task based on a (compositional) system model. Models of the essential hydraulic components suitable to generate the predictions needed for the FMEA are introduced and the required models of the control software outlined. These models are based on constraints, rather than simulation, and capture the dynamic response of the systems to an initial situation based on one global integration step and determine deviations from nominal functionality of the device. We also present the FMEA results based on this model.