Regulators around the world differ in their approach to model risk management (MRM) regulation – including their definitions of what a model is. While some are more prescriptive, others such as the UK ...

The PRA’s new supervisory statement extends banks’ model risk management obligations “across all models” - not just capital and stress testing. What steps must banks take to comply? Despite last ...

Models are everywhere. Many organizations use models for facilitating the decision-making process, for accounting and tax purposes, and for managing day-to-day operations. In fact, organizations are ...

Navigating the intricacies of compliance and risk management can seem overwhelming for businesses, especially those operating in heavily regulated industries. The rules are complex and the stakes are ...

Banks and their service providers have relied heavily on the prior guidance, originally a joint OCC-Fed issuance from 2011 that was later adopted by the FDIC in 2017, in developing and deploying ...

Risk Management is the process of identifying, assessing, and prioritizing risks followed by the application of resources to minimize, monitor, and control the probability and/or impact of adverse ...

Your risk and compliance functions are probably costing you more than they should. Not just in budget, but in drag. When your functions are siloed, they create redundant work, blind spots and a bad ...