There has been a lot of conversation over the years about risk management; this has included its importance and how to do it. Unfortunately, all this conversation has taken place separately, and there ...

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 institutions explore generative AI for transaction monitoring, sanctions screening and KYC processes, questions about ...

The inexorable advance of new technologies; artificial intelligence (AI), machine learning (ML), big data and cloud computing are transforming financial institutions and markets. Machine learning in ...

Predictive models are a core element of many regulatory frameworks to calculate results in a stressed business environment. Institutions have modeling teams who manage models under the PRA’s SS3/18 ...

The creation of an ongoing cyber risk management process, aligned with the governance of the information security management process, is a premise that ensures the survival of the organization. Here, ...

The European Banking Authority is looking at ways to speed up the process of supervisors – such as the European Central Bank – approving significant updates to credit risk capital models, according to ...

Chemical regulations exist to safeguard human and environmental health throughout a substance’s life cycle (manufacture, intended use phase, and disposal). Regulatory decisions require scientific ...

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 ...