Categories
Model Risk & Validation

Model Validation Need Not Be a Blood Sport

My team did a big validation project for a financial institution a few years ago. We were actually the backup, external validators called in to resolve a disagreement between the model build team and the internal validation group.

Categories
Model Risk & Validation Risk Modelling

Information Overload: The Risk Documentation Challenge

For banks, one of the more onerous aspects of regulatory supervision is documentation. Regulators demand detailed descriptions of the models being used and banks have responded by the bucket-load.