Model risk management has been a hot topic for the banking industry for a few years now. But other financial institutions are also paying more attention to it now and developing model risk management functions. Insurers have invested in model risk practices as Solvency II and ORSA require high quality models and an understanding of them. The regulators are demanding even more from the insurers which have been designated as SIFIs. Asset managers are becoming more concerned with it and the potential future supervision of the issue. The landscape of model risk has never been so advanced and diverse as today.
The aim of this conference is to examine the management of model risk across the financial sector and highlight key practices and lessons across the firms. Validation techniques and methods will be discussed across the sector. Approaches to supervision by various regulatory bodies will be examined. Best approaches to the management and governance of model risk will be established.
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