A major advancement in risk management among large financial institutions has been the development of internal risk models. The models encompass institutions’ procedures and techniques for assessing ...

Against a background of increasing reliance on models and scenario analysis to assess future risks, the UK’s bank regulator, the Prudential Regulation Authority (“PRA”), has published a supervisory ...

A new model for governance and risk management issued Monday by the Institute of Internal Auditors (IIA) makes major updates to the Three Lines of Defense model that has been popular for years. Called ...

Commission Delegated Regulation (EU) 2024/1085 has been published in the Official Journal of the European Union, supplementing the EU Capital Requirements Regulation with regard to regulatory ...

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 ...

Indra Reddy Mallela has been at the forefront of financial risk model validation, continuously pushing the boundaries of compliance and fraud detection. With a background spanning roles at leading ...

Newest addition to Experian Assistant product family allows financial institutions to document, validate and monitor models with speed, transparency and audit-readiness “Manual documentation, siloed ...

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 ...

This is the first article in a three-part series focusing on conditions and volatility in energy and commodity markets, and how trading firms and commodity brokers must assess the ongoing changes and ...

For some industries, the use of AI and machine learning models is novel, but several industries—consumer finance and insurance in particular—have been building, using and governing models for decades.