May
05
2014

Vision 2014: Regulatory requirements for model risk governance continue to evolve

Posted on May 05 2014 by

Is your organization prepared to meet these requirements?

Robert Stone

Although some of the regulatory guidance on Model Risk Governance was released recently, it is nothing new and needs to bean integral and integrated part of an organization’s way of thinking, risk management and overall business strategy.

Many organizations have recently invested in this area.  Given the significant time and resource required and the need to know and follow industry best practice, these same organizations have reached out and partnered with Experian as their trusted advisor.  Experian has helped all types and sizes of financial institutions to not just ensure regulatory and compliance demands are met but to meet their business needs and objectives, protect their safety and soundness and increase profitability and return.  Experian has played whatever role needed, whether it is analytics, modeling, consulting or simply staff augmentation, for many of the Top 5 U.S. Banks and international banks in addition to mid-size to small banks, financial institutions and credit unions.

One important outcome of the financial crisis of the late 2000’s was increased regulatory oversight which includes an emphasis and need to track changes in the economic environment, as well as, ensure proper application of model development, implementation, use and governance in order to make sure there are no undue risks and ensure the safety and soundness of the institution.  This is clearly not a one-time exercise but a valuable on-going part of proper risk management that will lead to better decisions and enhanced business performance.

Let Experian help show you the way!

Tweet This!

Changes in economic environment or misapplication of models exposes an organization  Click to Tweet

Regulators expect greater use of risk models as result oversight increased to review the mgmnt of these models http://ex.pn/RodDsG  Click to Tweet

Model Risk Governance not new concept, but emerging best practice for model risk attribute stability mgmt http://ex.pn/RodDsG #vision201  Click to Tweet

 


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