The PRA’s new supervisory statement extends banks’ model risk management obligations “across all models” - not just capital and stress testing. What steps must banks take to comply? Despite last ...

The Institute of Internal Auditors is beginning to re-evaluate the “Three Lines of Defense” model for risk management that has been around for more than two decades with an eye toward updating it for ...

Newest addition to Experian Assistant product family allows financial institutions to document, validate and monitor models with speed, transparency and audit-readiness “Manual documentation, siloed ...

Every big bank has a risk management team whose job it is to keep the banks out of trouble. The teams use complex computers to guide the banks away from financial danger. But as the global credit ...

The desire among financial institutions to better mitigate risk gained renewed prominence as a result of the financial crisis of 2008. Subsequent regulatory and governance requirements fostered ...

Risk models at Credit Suisse had flagged the dangers before their $5.5 billion Archegos loss. Silicon Valley Bank's risk metrics showed clear warnings before their collapse. In both cases, ...

Boards formally treat model risk as important, but in practice many banks treat it as a compliance box-ticking exercise that only attracts senior attention when something visibly breaks or a regulator ...

JBA Risk Management, a UK-based flood science specialist, has extensively updated its Global Flood Model, enhancing it with updated hazard maps, an ...

What: “Managing Cybersecurity Risk in Government: An Implementation Model,” a report from the IBM Center for The Business of Government Why: While federal agencies are required to comply with the ...

In the dynamic landscape of decentralized finance (DeFi), risk management is the bedrock upon which sustainable lending protocols are built. The challenge lies in finding the delicate balance between ...