Joint guidance from the Federal Reserve and Office of the Comptroller of the Currency on managing model risk leaves many ...

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 ...

The Federal Deposit Insurance Corp. issued revised model risk management guidance. The FDIC said Friday the revised guidance clarifies that model risk management should be tailored to the size, ...

Boards formally treat model risk as important, but in practice many banks treat it as a compliance box-ticking exercise that only attracts senior attention when something visibly breaks or a regulator ...