Model Risk Management Training
Created by. Brenda Ndungu
About course
Objective of the TrainingTo bring understanding of the Model risk Management, its benefits, and our role in the process. Please consider the following definitions as an introduction to some of the components of Model Risk: What is Model? It is a quantitative method, system, or approach that applies statistical, economic, financial, or mathematical theories, techniques, and assumptions to process input data into quantitative estimates. What is End User Computing (EUC)? End User computing (EUC) are the PC-based spreadsheets or databases which are often used to provide critical data calculations or information Bank wide within the scope of internal and external reporting, not following the proper software development and outside the IT application cycle. Each user who accesses a Spreadsheet represents a potential risk to the integrity of the data it contains. What is Model Risk? Model Risk can be defined as the potential loss an institution may incur, as a consequence of decisions that could be principally based on the output of (internal) models, due to errors in the development, implementation or use of such models.
Statistics
Category : Risk & Compliance Programs
Learners : 127
Language: English
Total Grade : 0
Section : 3
Start Date : 2023-04-17
expiry date : un limited
Description
Objective of the TrainingTo bring understanding of the Model risk Management, its benefits, and our role in the process. Please consider the following definitions as an introduction to some of the components of Model Risk: What is Model? It is a quantitative method, system, or approach that applies statistical, economic, financial, or mathematical theories, techniques, and assumptions to process input data into quantitative estimates. What is End User Computing (EUC)? End User computing (EUC) are the PC-based spreadsheets or databases which are often used to provide critical data calculations or information Bank wide within the scope of internal and external reporting, not following the proper software development and outside the IT application cycle. Each user who accesses a Spreadsheet represents a potential risk to the integrity of the data it contains. What is Model Risk? Model Risk can be defined as the potential loss an institution may incur, as a consequence of decisions that could be principally based on the output of (internal) models, due to errors in the development, implementation or use of such models.
About The Instructor
