Welcome to model validation framework!
A world of trusted validation that takes your lending confidence to the next level.
Following standard practices to identify risk introduced by model, it highlights potential deficiencies empowering you to identify any shortcomings proactively in the model and take required actions. It's an essential stage in model lifecycle, that ensures the model efficacy and mitigate risk exposure to business.
Key benefits:
- Follows the standard regulatory defined model validation policies
- Challenges the model at different development stages to identify risk introduced by the model
- Highlights potential deficiencies over a range of model components, and determining whether adjustment or other compensating controls are required
How it will help members:
- Meet the regulatory requirements for model validation
- Identify any shortcomings proactively in the model and highlights required actions
- Thorough documentation of the model which includes detailed model development process, all the statistical tests, challenges presented to the model, observations
- Compensatory controls to mitigate model risk, which also includes suggestion of any alternative approach or solution for better model efficacy