Our objective is to help you mitigate your model risk through a detailed model validation and process review, which addresses all relevant areas of model risk.
The validation process we employ mirrors current regulatory guidance to ensure that at a minimum, your bank or credit union will be compliant with regulatory expectations as set forth in OCC 2011-12 “Sound Practices for Model Risk Management”.
The deliverable to you is a Model Validation Report that addresses regulatory expectations and incorporates cross industry best practices within your peer group. The report contains ten components of model risk management. Each component is separately rated based upon our internal guidelines, and contains recommendations that should be implemented to reduce your model risk.
A thorough scoping and planning process will help to ensure minimal disruptions to your operations during the engagement, which typically takes two to three weeks to complete.
Your model validation will be performed by a seasoned professional with over 27 years of experience in financial institution accounting and treasury, and commercial ALM model use.