Supervisory Guidance on Model Risk Management (Guidance) published by the Federal Reserve Board (FRB) and the Office of the Comptroller of the Currency (OCC) in April 2011, to ensure sound practices in data and attribute governance, model validation, model development, implementation, use, governance and controls, strategies and operations.
Practical application of this guidance depends on your risk exposures and business activities, and with the extent and complexity of model use whether the exposure is for consumer and commercial purpose.
We provide consultative and analytical services to augment current governance infrastructure and processes, providing four key model governance analytical packages for:
Aligned with a Business Review, our strategy consultants can conduct a gap analysis on your current validation process (or alternatively conduct validation analysis), make recommendations and assist in audit preparation or custom model development needs.
Compliance as a Differentiator