

Outsourced model validation: is it viable?
Consortium promises cost savings in outsourcing model validation, but some say pooling doesn’t float
Cost pressures, a multiplicity of models and heightened regulatory requirements are leading some banks to consider outsourcing the more mundane and repetitive aspects of model validation to third parties. A group of European banks is working with Standard & Poor’s to create a risk model utility.
But there are real questions around whether such a thing can work in practice – especially for US banks.
Crisil, a unit of S&P, is working with HSBC and three other large European banks on a risk model
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