What is Model Risk and Why Does it Matter?
DataRobot Blog
APRIL 29, 2022
In 2011, the Federal Reserve Board (FRB) and the Office of Comptroller of the Currency (OCC) issued a joint regulation specifically targeting Model Risk Management (respectively, SR 11-7 and OCC Bulletin 2011-12 ). In other words, model risk can lead to tangible losses for the bank and its shareholders.
Let's personalize your content