Artificial intelligence is creating new opportunities across a wide range of use cases in the financial industry. Leading firms are looking for opportunities to better balance innovation with risk and ...

While the Federal Deposit Insurance Corporation (FDIC) updated its model risk management guidelines in June 2017, under FIL-22-2017, it has taken time for the full implications of the changes to ...

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 Office of the Superintendent of Financial Institutions (OSFI) recently released an updated draft of Guideline E-23 Model Risk Management (Draft Guideline) setting expectations related to ...

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 ...

The Institute of Internal Auditors has updated its Three Lines of Defense Model to emphasize more active forms of risk management and governance that go beyond merely defensive moves by the internal ...

Many of the companies that I work with are large, diversified, non-digital-native enterprises. I call them "SuperPowers," though I'd welcome a better name. They're generally Fortune 1000 or even ...

Risk management is an important discipline in the corporate sphere. If done properly, it can propel a well-run company pas what anyone imagined. The face of risk management changed forever after the ...

Modelops improves machine learning model development, testing, deployment, and monitoring. Follow these tips to keep model risks in check and increase the efficiency and usefulness of your ML ...