Reimagining model risk management: new tools and approaches for a new era
Models are essential in the finance industry, supporting various risk areas. But they are also prone to errors that can significantly impact operations. As a result, financial institutions are establishing dedicated model risk functions with structured frameworks, comprehensive policies and clear accountability. To address the increasing complexity of managing model risk due to regulation and market volatility, these institutions are turning to automation. Many are developing specialised tools for model governance, with automation streamlining processes and aligning model risk governance with validation.
Read the Evalueserve/Chartis report Reimagining model risk management: new tools and approaches for a new era to learn:
How model risk management (MRM) is adapting to new regulatory standards across sectorsMarket dynamics impacting model performance and automation strategies for governance and validationInsights on European Union Artificial Intelligence (AI) Act compliance and AI/machine learning advancements in model risk practicesBest practices for model validation, real-time monitoring and customisable alertsAn integrated approach to risk management, with case studies of successful MRM tool implementation.
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