Model Validation and Governance
List Price
$2,495
Member Price
$1,575
Event Id:
698990654
Product code:
373427-25
Format:
Prof. Dev. Course: Virtual
Date:
4/7/2025 - 4/10/2025
Registration Fees
| Members | $1,575 |
|---|---|
| Nonmembers | $2,495 |
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Item Details
This virtual course is made up of four sessions – Sessions 1-3 are 3 hours from 1:00PM - 4:00PM ET, Session 4 is 3.5 hours from 1:00PM-4:30PM ET.
Session Dates: Session 1: April 7, 2025 Session 2: April 8, 2025 Session 3: April 9, 2025 , 2024 Session 4: April 10, 2025
Financial institutions’ inventory and complexity of models continues to rise substantially. Banks are increasingly using models built with advanced analytical methodologies for their decision-making. Model risk management, when done correctly, assists firms in critical areas such as capital allocation and stress testing. With increasing automation and digital processes becoming a regular portion of business processes, the need for effective and efficient MRM has never been greater. These models are a very large source of risk as financial institutions are increasingly reliant on them and errors in coding can result in losses of hundreds of millions of dollars. Sometimes, the use of model outputs is the source of critical mistakes where large key risk measures are misunderstood and/or ignored, giving rise to large market losses, as witnessed in recent months across the financial services industry.
This learning opportunity will explore best practices for conducting model risk management in financial institutions by utilizing case studies on topical risk quantification models. Participants will enhance their knowledge in model risk management to better develop and implement effective procedures for model validation and model governance.
Who Should Attend?
This course will be beneficial to banks of varying sizes who may be looking to stand up their own model validation and governance program, better understand the outsourcing of their models and validation, or benchmark to best practices. Relevant departments in financial institutions may include but are not limited to:
- Model risk management
- Credit model development
- Enterprise risk management
- Credit risk management
- Artificial Intelligence (AI)
- Regulation
- Audit
Participants should have some prior exposure to risk modeling.