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In addition to transforming the way in which financial institutions approach predictive modeling, machine learning techniques are beginning to find their way into how model validators assess...

Machine Learning Model Validation Model and Data Governance

Machine learning models pose a unique set of challenges to model validators. While exponential increases in the availability of data, computational power, and algorithmic sophistication in recent...

Machine Learning Model Validation

Machine learning represents the next frontier in model validation—particularly in the credit and prepayment modeling arena. Financial institutions employ numerous models to make predictions relating...

Machine Learning Model Validation Model and Data Governance Predictive Analytics

Model risk managers invest considerable time in determining which spreadsheets qualify as models, which are end-user computing (EUC) applications, and which are neither. Seldom, however, do model...

Model Validation Model and Data Governance

Anti-money-laundering (AML) solutions have no business being classified as models. To be sure, AML “models” are sophisticated, complex, and vitally important. But it requires a rather expansive...

AML Model Validation Model and Data Governance

Many model validations—particularly validations of market risk models, ALM models, and mortgage servicing rights valuation models—require validators to evaluate an array of sub-models. These almost...

interest rate models Model Risk Management Model Validation Model and Data Governance

Increasing regulatory scrutiny due to the catastrophic risk associated with anti-money-laundering (AML) non-compliance is prompting many banks to tighten up their approach to AML model validation....

AML Model Validation Model and Data Governance

The challenge associated with simply gauging the risk associated with “end user computing” applications (EUCs)— let alone managing it—is both alarming and overwhelming. Scanning tools designed to...

EUC Model Validation Model and Data Governance

The question of “build versus buy” is every bit as applicable and challenging to model validation departments as it is to other areas of a financial institution. With no “one-size-fits-all”...

Model Risk Management Model Validation Model and Data Governance

In some respects, the OCC 2011-12/SR 11-7 mandate to verify model inputs could not be any more straightforward: “Process verification … includes verifying that internal and external data inputs...

Model Risk Management Model Validation Model and Data Governance
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