Regulators around the world differ in their approach to model risk management (MRM) regulation – including their definitions of what a model is. While some are more prescriptive, others such as the UK ...

The PRA’s new supervisory statement extends banks’ model risk management obligations “across all models” - not just capital and stress testing. What steps must banks take to comply? Despite last ...

Losses and damages that any company or organization experience is usually caused by some unidentified risks that hit them unprepared. Some companies even must close their business or discontinue their ...

Banks and their service providers have relied heavily on the prior guidance, originally a joint OCC-Fed issuance from 2011 that was later adopted by the FDIC in 2017, in developing and deploying ...

Models are everywhere. Many organizations use models for facilitating the decision-making process, for accounting and tax purposes, and for managing day-to-day operations. In fact, organizations are ...

Navigating the intricacies of compliance and risk management can seem overwhelming for businesses, especially those operating in heavily regulated industries. The rules are complex and the stakes are ...

Last year, I faced a harrowing experience that would change my perspective on healthcare forever. What began as an emergency surgery to combat a flesh-eating bacteria quickly turned into a nightmare.