Model risk specialists must be prepared to take on far wider responsibilities as the definition of a model expands, conference delegates heard today.
Speaking at Quant Summit Europe in London, Mostafa Mostafavi, vice-president of risk and quantitative analysis at Credit Suisse, warned: “There are a lot of processes involved in calculating risk that have not previously been identified as models. These all need to be validated too – we need to look at that more carefully.”
Processes used for tra
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