Incorporating model risk management as a core discipline

Today, model risk management has become a major issue for financial institutions. These organisations increasingly depend on models to estimate risk, inform decision-making, to drive operations and strategy, and to set their future direction. As the business environment becomes more complex, and as regulatory scrutiny increases, it has never been more crucial for financial institutions to ensure their models are robust and fit for purpose. This is where the concept of model risk arises.  

In this webcast, John Macdonald (Director, IBM Risk Analytics) joins Peyman Mestchian (Managing Partner, Chartis) who will unveil findings of a new study on model risk management (the first of several research papers in Chartis' The Risk Enabled Enterprise research programme). John and Peyman will discuss a number of driving factors for incorporating model risk management as a core discipline including:

• How regulatory pressures are expanding and shifting the focus of model risk management
• The increasing need to manage model risk as models have become increasingly complex and widespread
• Technology capabilities and systems that firms need to adopt for this changing environment
• Primary benefits of effective model risk management

 

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