Model risk management services publications
||Model risk mitigation and cost reduction through effective design
This paper offers ideas on how to combat model risk at an early stage of the model life cycle – the design phase. We provide practical recommendations on how to design model production systems in a manner that minimizes model risks and reduces model validation and maintenance costs.
Credit card reward programs: Understanding your model risk
||FS regulatory briefs*
These briefs provide a timely analysis of recent regulatory changes. This edition covers Will regulatory scrutiny of model risk management intensify?.
As the popularity of reward programs grows, so will their potential impact on bank financial performance and reporting. Anticipated program member redemption activity and expected redemption cost per point are key estimates needed for measuring the performance of a reward program.
Briefing note: New York Insurance Department Circular Letter No. 25
This letter outlines the Department's expectation that all insurers should have a financial stress testing process in place as part of their risk management framework.
PwC Model Validation Services Guide
PwC follows a structured and auditable approach designed to ensure that relevant model risks are identified and tested. We also can perform our work according to your company's specific guidelines and procedures.
Viewpoint: The challenge of keeping models up-to-date
American Banker, January 2008. By Richard Pace, Principal, PwC.
Model risk management: Key considerations for challenging times
Bank Accounting & Finance, June-July 2008. By Richard R. Pace, Principal, PwC This article discusses the challenges of model risk management and the imperative for financial services companies to build an effective model risk management program.