Model risk report featured in Global Risk Regulator
- 12 December 2016
Our recent Snap Survey, How do banks manage model risk in 2016?, which found that model risk was likely to become a bigger priority for supervisors has been featured in Global Risk Regulator. Global Risk Regulator is a service from The Banker, spans the world of regulation as it impacts banking, insurance and the securities markets, as well as financial reporting.
You can download the full article from Global Risk Regulator below.
About the model risk report
The report found that the Members we surveyed, and their supervisors, all thought that model risk management is crucial. They also believed that it is likely to become a bigger priority over the coming years.
We also found that currently firms are at different stages of evolving practice. Model risk is a relatively new focus area for risk management, so it is likely that practices are less mature than in more established risk types. However, we did identify several key areas where practices converged or diverged.