OpRisk North America: Too much confidence in risk models, OCC’s Levonian warns
OCC regulator warns risk managers to re-examine data integrity and be wary of model risk
Operational risk managers are relying too heavily on risk models and might not be adequately scrutinising the stress testing, scenario analysis and loss data underpinning crucial risk assumptions, a senior US regulator has warned.
In his keynote speech at the OpRisk North America conference in New York yesterday, Mark Levonian, senior deputy comptroller for economics at the Office of the
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