The seminar, entitled “Model risk management and model validation in banks”, brought together the heads of the modelling, validation and audit departments from some of the leading local financial institutions and International banks present in Germany, who met to exchange the latest trends and tips about dealing with model risk in their day-to-day business.
Management Solutions- presentation, analyzed the components that should be in place when building a solid Model Risk management framework, giving advice about regulatory expectations and industry best practices regarding the required governance set-up, as well as about more specific topics like the evaluation of model risk in a tiering system.
