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 ...

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 ...

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 ...

As financial institutions chase the benefits of generative AI, a cottage industry has cropped up to provide technology that can test, validate and put risk controls on those models. Companies such as ...

MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) is proposing regulations that would help financial institutions manage risks emanating from their reliance on models for critical business ...

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has released the proposed guidelines aimed at enhancing how banks and financial institutions manage model-related risks to strengthen ...

Christian is the CEO and Co-Founder of risk3sixty. As a cybersecurity expert, he has overseen more than 2000 engagements. There’s a common misconception floating around that companies are behind when ...

The desire among financial institutions to better mitigate risk gained renewed prominence as a result of the financial crisis of 2008. Subsequent regulatory and governance requirements fostered ...

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