Institutions rely on models more and more, and use them to drive better insight, better informed decision making, to deliver new products and enhanced management of the business.
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With Current Expected Credit Loss (CECL) reporting fast moving up the corporate agenda at many financial institutions, CECL project teams are now contemplating the issues involved, and the best approach to deliver the results from December 2019.
Model Risk Management (MRM) is moving up the corporate agenda as reliance on models grows and the scrutiny of management, stakeholders and regulators becomes more intense.
Many companies, subject to Sarbanes-Oxley (SOX) compliance are experiencing an increase in the time and effort needed to comply with the regulations, despite many years’ experience in meeting them.
In recent years, the concept of model management at financial institutions has grown from Model Validation to encompass the concept of Model Risk Management (MRM).
Spreadsheets and other forms of End User Computing (EUC) occupy the grey zone of enterprise technology. Often ignored, when they do surface for discussion the language can be more emotional than factual.