The PRA’s new supervisory statement extends banks’ model risk management obligations “across all models” - not just capital and stress testing. What steps must banks take to comply? Despite last ...

Ang Shen joins loan subservicer from KPMG advisory practice. Cenlar FSB, a leading mortgage loan subservicer and federally chartered wholesale bank, has announced that Ang Shen has joined Cenlar as ...

Banks generally fall into one of two camps: those that treat AI as a model risk that needs to be managed by specialized teams ...

Predictive models are a core element of many regulatory frameworks to calculate results in a stressed business environment. Institutions have modeling teams who manage models under the PRA’s SS3/18 ...

Modern model risk management startup Ethos AI Inc. announced today that it has raised $6 million in new funding to expand its engineering team, enhance its go-to-market efforts and strengthen its ...

Artificial intelligence model risk management startup ValidMind Inc. said today it has closed on an $8.1 million seed funding round that will be used to advance its go-to-market plans. Today’s round ...

COSTA MESA, Calif.--(BUSINESS WIRE)--Experian, a leading global data and technology company, and ValidMind, a leader in model risk management solutions, today announced a strategic partnership ...

The Office of the Superintendent of Financial Institutions (OSFI) recently released an updated draft of Guideline E-23 Model Risk Management (Draft Guideline) setting expectations related to ...

As financial institutions chase the benefits of generative AI, a cottage industry has cropped up to provide technology that can test, validate and put risk controls on those models. Companies such as ...

Modern financial systems are built on risk models for good reason. They provide structure in uncertainty, comparability ...