About the course

About the course

About the course

Risk Training have designed this two day training course to delve into best practice approaches to building a model risk framework. The course will also equip attendees with a thorough understanding of model risk now and into the future, including the impact of machine learning.  

Day one will cover the history of model risk management and the regulatory landscape, followed by how to go about building a model risk management strategy and manage a models life cycle. The day continues with an overview of model validation and prudent valuation.

Day two begins with an overview of how to manage model risk for non-pricing models, before going on to a discussion on credit model validation and what new strategies need to be in place to be CECL compliant. The course finishes with discussion surrounding utilizing machine learning for model validation and a look at model risk into the future.

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What will you learn?
  • Best practice approaches to building a model risk management framework
  • Effective methods for model validation and related performance analysis reviews
  • Pricing models and prudent valuation and how to establish frameworks for both
  • CECL regulation and its impact on model risk management
  • Machine learning and AI and how to embrace it in the context of model validation
  • The history of model risk, capturing model interconnectivity and governance 
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Who should attend?

Relevant departments may include but are not limited to: 

  • Risk Management
  • Quantitative Analysis
  • Model Risk and Validation
  • Compliance
  • Internal Audit
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Course highlights
  • Model Risk Management & Governance
  • Building a Model Risk Management Framework 
  • Model Validation & Performance Analysis 
  • Pricing Models & Prudent Validation 
  • Model Risk Management of Non-Pricing Models 
  • Model Validation for CECL 
  • Utilizing Machine Learning for Model Validation  
  • Model Risk into the Future