Model risk management: Validation frameworks and understanding expectations

When evaluating model risk management practices at financial institutions, regulators often identify a lack of a comprehensive validation scope.  

Following SR11-7 and OCC guidelines, this webinar will present a validation framework that aims to meet regulatory expectations. You’ll walk through every aspect of the validation framework. This includes ongoing monitoring, assumptions, limitations, internal controls, documentation, data integrity, model results, sensitivity analysis, and scenario testing. We will also share insights into what to expect from validators and how to manage and respond to the findings. 

Additional resources:

• Blog: Effective model risk management and model validation in banking
• Guide: 4 Elements of an effective CECL model validation