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New Woes for the UK Model Risk Manager

Posted by Craig Hattabaugh on Jul 13, 2018 3:29:53 PM

The Prudential Regulatory Authority’s Supervisory Statement SS3/18 concerning model risk management principles is the latest in a long line of financial industry guidance that started with OCC 2011-12, The Federal Reserve’s SR 11-7 and others. Although it is highly focused on the models used for determining capital adequacy (stress testing) in UK banks, and the principles are sound, it is not good news for model risk managers. 

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Topics: Manage Risk, SS3/18, PRA SS3/18, Prudential Regulation Authority SS3/18, Model Inventory

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