Models, Myths, and Missteps: A Guide to Model Risk Done Right
Course Description
Model risk is one of the most critical and often misunderstood areas of oversight in financial services, especially for institutions operating in high-risk environments. Whether you are a bank, credit union, fintech, or MSB, if you rely on data- driven models to make decisions, you are managing model risk whether you realize it or not. This session cuts through the noise to explain what model risk really is, why it’s especially important in high-risk sectors, and how to build a framework that can stand up to regulatory and operational scrutiny. From foundational concepts to real-world examples of what can go wrong, this is a practical guide for anyone responsible for modeling, oversight, governance, or compliance.
Agenda
Defining Model Risk and Why It Matters: Understanding how model risk arises and where it shows up in your institution.
Key Components of an Effective Model Risk Framework: Covering model inventories, validation processes, governance, and documentation.
Where Things Go Wrong: Exploring common model risk management failures and how to avoid them.
Model Oversight Across the 3 Lines of Defense: How to get business, compliance, and audit working together.
Right-Sizing Your Approach: Tailoring your program to match your institution’s size, complexity, and resources.
Tips for adapting your framework as technology, data, and expectations evolve
Instructor: Josh Salzberg
Course Description
Model risk is one of the most critical and often misunderstood areas of oversight in financial services, especially for institutions operating in high-risk environments. Whether you are a bank, credit union, fintech, or MSB, if you rely on data- driven models to make decisions, you are managing model risk whether you realize it or not. This session cuts through the noise to explain what model risk really is, why it’s especially important in high-risk sectors, and how to build a framework that can stand up to regulatory and operational scrutiny. From foundational concepts to real-world examples of what can go wrong, this is a practical guide for anyone responsible for modeling, oversight, governance, or compliance.
Agenda
Defining Model Risk and Why It Matters: Understanding how model risk arises and where it shows up in your institution.
Key Components of an Effective Model Risk Framework: Covering model inventories, validation processes, governance, and documentation.
Where Things Go Wrong: Exploring common model risk management failures and how to avoid them.
Model Oversight Across the 3 Lines of Defense: How to get business, compliance, and audit working together.
Right-Sizing Your Approach: Tailoring your program to match your institution’s size, complexity, and resources.
Tips for adapting your framework as technology, data, and expectations evolve
Instructor: Josh Salzberg
Course Description
Model risk is one of the most critical and often misunderstood areas of oversight in financial services, especially for institutions operating in high-risk environments. Whether you are a bank, credit union, fintech, or MSB, if you rely on data- driven models to make decisions, you are managing model risk whether you realize it or not. This session cuts through the noise to explain what model risk really is, why it’s especially important in high-risk sectors, and how to build a framework that can stand up to regulatory and operational scrutiny. From foundational concepts to real-world examples of what can go wrong, this is a practical guide for anyone responsible for modeling, oversight, governance, or compliance.
Agenda
Defining Model Risk and Why It Matters: Understanding how model risk arises and where it shows up in your institution.
Key Components of an Effective Model Risk Framework: Covering model inventories, validation processes, governance, and documentation.
Where Things Go Wrong: Exploring common model risk management failures and how to avoid them.
Model Oversight Across the 3 Lines of Defense: How to get business, compliance, and audit working together.
Right-Sizing Your Approach: Tailoring your program to match your institution’s size, complexity, and resources.
Tips for adapting your framework as technology, data, and expectations evolve
Instructor: Josh Salzberg