Model Risk Management Under the Current Environment

Dong (Tony) Yang
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Dong (Tony) Yang: KPMG LLP

A chapter in Commercial Banking Risk Management, 2017, pp 169-197 from Palgrave Macmillan

Abstract: Abstract In this chapter is provided a detailed discussion about the definitions of model, model risk, and model risk management, as are commonly understood, interpreted, and applied by market practitioners after the financial crisis. An overview of model risk management is discussed, including the typical model risk management organizational structure, as well as some of the challenges frequently encountered in the industry. Moreover, a specific discussion about the model risk management framework and approach is presented.

Keywords: Model Risk; Model User; Model Inventory; Internal Audit; Internal Audit Function (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-59442-6_9

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DOI: 10.1057/978-1-137-59442-6_9

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