Model Risk Management and Quantification

Build on your knowledge of model risk management through exploring how to mitigate model risk and provide comfort to senior management, board, and regulators. <br />

Model risk management (MRM) is coming under increasing regulatory focus and is crucial for understanding a firm’s risk profile. An unacceptable level of model risk could invalidate a firm’s models, calling into question fundamental everyday decisions. Through this interactive 4-day virtual course, participants will have the opportunity to develop their understanding of the importance of model risk management (MRM) and how to implement best practice within financial institutions.

Led by subject matter experts from Basinghall Analytics, sessions will discuss the framework of MRM, regulatory requirements, and what effective and efficient model risk governance looks like. Deep dive into current market practices, core building blocks and infrastructure requirements for MRM.

The course will also cover two novel areas: quantification of model risk and how to measure model risk in AI / ML models supported by walk-through worked examples on each of these two topics. Sessions will cover which metrics and thresholds to use for measuring and managing model risk, the corresponding triggers and actions and examples of best practice model risk reporting templates.

What will you learn?
  • Importance of model risk management (MRM) and its relation to risk profile
  • Best practice approaches to MRM: what does good look like?
  • Understanding the components of an MRM framework
  • Model risk quantification and how it can be used in MRM
  • How to set and monitor model risk appetite
  • Reporting, explaining and uses of MRM results
  • Approaches for measuring model risk in AI / ML models
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Who should attend?

Relevant departments may include but are not limited to:

  • Model risk management
  • Model risk
  • Pricing models
  • Credit models
  • Risk management
  • AI, Data Science
  • Technology
  • Regulation
  • Front Office
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Sessions Include
  • Why manage model risk?
  • Model risk regulatory landscape
  • Model risk management framework
  • Ideal infrastructure for managing model risk
  • Case study 1: end-to-end process for model risk management
  • Case study 2: worked examples of model risk quantification
  • Model risk in AI and ML models
  • Presentation and use of model risk metrics
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Pricing options

We offer flexible pricing options for this course:

  • Early bird rates - save up to $500

  • Group booking rate - save over $1500

  • Subscribe to receive Risk Training updates and avoid missing out on additional savings

Who are Basinghall Analytics

  • Basinghall Analytics is a hybrid consulting and technology firm based out of London, United Kingdom. Its domain expertise includes risk, finance and treasury. Its mission is to enable clients to focus on business and risk decisions rather than process and infrastructure by delivering streamlined and integrated analytics and technology.
  • The current top three focus areas are: model risk, scenario-driven processes like stress testing, and QuanTech. The latter is an emerging topic, which refers to taking an integrated approach to modelling, data engineering and software architecture.

 

Live Virtual training courses

 

Our live virtual training courses have been designed to engage and inspire you. Much more than a webinar, our approach includes:

  • Technical content compressed into 60-minute interactive sessions and spread out over two, three or four days

  • Facilitated collaboration including Q&A, interactive polling and group workshops

  • Live interaction with subject matter experts – get your questions answered in real time

  • Receive comprehensive course materials and supporting content from Risk.net to reinforce your learning

  • Stay connected with other learners and extend your network by joining our dedicated LinkedIn group for course participants

CPD and CPE Accreditation

 

CPD Accreditation

This course is CPD (Continued Professional Development) accredited and will allow you to earn up to 8 credits. One credit is awarded for every hour of learning at the event.

CPE Accreditation

This course is CPE (Continuing Professional Education) accredited and will allow you to earn up to 8 credits. One credit is awarded for every hour of learning at the event in accordance with the standards of the National Registry of CPE Sponsors.

Not the course for you?

Risk Training offers a great selection of courses providing practical guidance on the latest trends, challenges and regulatory changes that span risk management, regulation and derivatives.

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E-Learning

Risk Training’s self-paced E-Learning platform offers Essentials of Operational Risk programme, plus more topics to come soon.
 

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