Risk Model Validation (2nd Edition)

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This new edition provides financial institutions with a toolbox to raise the key questions when it comes to integrating the results of quantitative risk models into business decisi ons. Readers will be able to: Evaluate the validity of a model; Judge the model’s quality, consistency and regulatory compliance; Improve a framework for validation; and Tailor a model-risk approach for their institution. Chapters include: Basics of Quantitative Risk Models How Can a Risk Model Fail? The Regulatory Perspective on Risk Model Validation Validation Toolbox 1: Focus on Model Results Validation Toolbox 2: Focus on Model Assumptions Validation Toolbox 3: Focus on Data and Software Implementing a Model Risk Framework Show more