Looking Forward: What Trends Will Impact Model Risk Management in 2012?
Wed, 18 Jan 2012 10:04:07 GMT
As we ring in the New Year, companies are gearing up and looking at several key areas of focus when it comes to effective model risk management in 2012. We all know that banks’ expanding use of data-driven, quantitative analysis and financial models in most aspects of their financial decision making has escalated the need to manage ‘model risk’ like any other type of risk. In recent years, as banks have tried and applied financial models to more complex products, we’ve seen that the models themselves can impose risk if they are incorrect, misapplied or misused. Last year, in response...
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