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What is Model Risk and Why Does it Matter?

DataRobot Blog

With the big data revolution of recent years, predictive models are being rapidly integrated into more and more business processes. This provides a great amount of benefit, but it also exposes institutions to greater risk and consequent exposure to operational losses. What is a model?

Risk 111
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How to Gain Greater Confidence in your Climate Risk Models

Cloudera

Understanding a firm’s exposure to climate risk begins with creating scenarios and gaining better visibility to the impact of a variety of variables on the book of business. Stress testing was heavily scrutinized in the post 2008 financial crisis. Transition : the changes in asset values, business models, etc. (ex.

Risk 83
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Driving 15 years of IT transformation in 5

CIO Business Intelligence

Through this strategy, Lovelady and his team have struck the often difficult to balance attributes of business unit flexibility with enterprise scale. “At These include network management, help desk, establishing and enforcing policies related to information security and risk management, and several other IT functions.

IT 109
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Managing machine learning in the enterprise: Lessons from banking and health care

O'Reilly on Data

A look at how guidelines from regulated industries can help shape your ML strategy. In recent posts, we described requisite foundational technologies needed to sustain machine learning practices within organizations, and specialized tools for model development, model governance, and model operations/testing/monitoring.

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New CIO appointments in India, 2022

CIO Business Intelligence

Chandegara has over 20 years’ experience in managing IT and communication systems. He has assisted the top management in planning IT strategies and leveraging technologies for rationalizing manpower, enhancing organizational productivity, and improving the efficiency of operations. February 2022. Amit Goel joins Blox as CTO.

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Back to the Financial Regulatory Future

Cloudera

It’s hard to believe it’s been 15 years since the global financial crisis of 2007/2008. While this might be a blast from the past we’d rather leave in the proverbial rear-view mirror, in March of 2023 we were back to the future with the collapse of Silicon Valley Bank (SVB), the largest US bank to fail since 2008.

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5 ways to reduce compliance costs with AI and automation

CIO Business Intelligence

Deloitte estimates that compliance costs for banks have increased by 60% since the financial crisis of 2008, and the Risk Management Association found that 50% of financial institutions spend 6 to 10% of their revenues on compliance. This is where sophisticated OCR (optical character recognition), NLP, and AI models come in.

Risk 145