Navigating challenges in model risk management

Event Summary

As financial institutions face an increasingly complex and fast-changing risk landscape, the importance of robust model risk management (MRM) framework has never been greater.

This webinar is designed to address the key challenges organisations encounter in managing model risk while meeting regulatory expectations and adapting to emerging technologies.

The session will explore the skill mismatches and talent shortages that hinder the development and validation of models, highlighting strategies to bridge these gaps through upskilling, talent acquisition and cross-functional collaboration. Attendees will gain insights on cultivating the specialised technical expertise necessary to keep pace with the rapidly evolving modelling ecosystem.

The webinar will delve into the MRM framework as it is essential for financial institutions to manage and mitigate the risks associated with their models effectively. This framework should encompass comprehensive risk identification, assessment, monitoring, and mitigation strategies. It must also integrate key aspects of governance, including clear roles and responsibilities, robust documentation, and communication protocols to ensure transparency and accountability throughout the model lifecycle.

The session will also address the challenges posed by rapid changes in modelling approaches, such as the rise of AI and ML models. These innovations, while powerful, introduce unique risks and require updated validation techniques and oversight. The discussion will include best practices for integrating these advanced technologies into MRM frameworks while managing associated risks effectively.

Acuity Knowledge Partners is delighted to bring together two industry experts to deliberate on the essential best practices that financial institutions must adopt to stay ahead of the challenges while managing the associated risks effectively across a banking portfolio. The webinar will feature real-world case studies demonstrating how banks are successfully leveraging technology to meet their MRM goals. Learn from the experiences of leading financial institutions and gain practical insights on integrating advanced technologies into your MRM frameworks.

Key Takeaways

• Regulatory expectations and deadlines

• Explore how banks are strategising and working with rapid changes in modelling
  approaches

• Technical knowhow & best practices

• Understand skill mismatches & talent shortages

Recommended for

• Chief Risk Officer

• Head of Risk Management

• Head of Risk Modelling

• Head of Model Risk Governance

• Head of Model Validation

• Head of Risk Analytics

• Head of Regulatory Risk

• Quantitative Risk Modelling Managers