Putting a Model Risk Management Framework into Practice

By Michael Budinger and Colette Wagner
| 4/1/2016
The Office of the Comptroller of the Currency and the Federal Reserve raised the bar for banks’ model risk management (MRM) programs with its “Supervisory Guidance on Model Risk Management.” Some banks have struggled when it comes to moving from policy to practice. This article discusses how banks can manage three challenging areas they might face when implementing an MRM framework.
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