Supervisory Guidance on Model Risk Management (Guidance) published by the Federal
Reserve Board (FRB) and the Office of the Comptroller of the Currency (OCC) in April
2011 to ensure sound practices in data and attribute governance, model validation,
model development, implementation, use, governance and controls, strategies and operations
Who is Impacted?
Practical application of this guidance depends on a bank’s risk exposures
and business activities, and with the extent and complexity of model use whether the
exposure is for consumer and commercial purpose.
How Can Experian Help?
Experian can provide consultative and analytical services to augment current governance
infrastructure and processes, providing four key model governance analytical packages
Aligned with a Business Review, our strategy consultants can conduct a gap analysis
on a lender’s current validation process (or alternatively conduct validation
analysis), make recommendations and assist in audit preparation or custom model development