Description
Covers the importance of building and maintaining a strong risk model management framework and the principles of model development. Explains conducting the model validation and how to validate results. Explores types of model controls, maintaining appropriate change controls and how documentation supports an effective model risk framework.;
What You’ll Learn
After successfully completing this course, you will be able to:
Describe the guidance available on model risk management and the role of the board in model risk policy and oversight
Describe the types of models that are covered under model risk management guidance
Identify areas of a financial institution where models are typically found and information that should be included in an inventory of models
Recognize the factors that should be considered when assessing model risk
Describe the principles of model development and training that should be provided prior to model implementation
