Model Risk Management in Financial Services


Building supervisory confidence amid regulatory scrutiny
While models serve important strategic purposes and are widely used in the regulatory framework, they can also be a source of risk for both financial services firms and the regulators monitoring them. In an environment supportive of model use, what can firms do to build supervisory confidence in their models?

In this report, we discuss the current trends in the supervision of model risk management in financial services firms, drawing on our views and experiences to outline how financial services firms can apply practical model risk management to build supervisory confidence in models and modelling.

We specifically draw on the experience and expertise of Deloitte model risk management teams worldwide, working in those areas that are of greatest current concern to supervisors across financial services.

“Firms that implement model risk management frameworks that satisfy both regulatory requirements and supervisors’ practical concerns, and operate at a commercially-viable cost, are, in our view, well-positioned to find a supportive policy environment for the use of models.”







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