Model Governance...What Could Possibly Go Wrong?(Part 1)

The sessions (this Monday session and Part 2 on Tuesday) are based on a case study of a fictional insurance company and its efforts to install and then develop its financial model(s) over 3 – 4 years.  There are case study materials of internal memos, reports and emails.  The sessions involve organizing participants into teams to examine the situation and to role-play the likely discussions internally or between an external validator and the in-house team.   We also will make brief instructional presentations on (a) model risk management and (b) model validation.

  • Date:Monday, March 9
  • Time:2:35 PM - 3:50 PM
  • Location:Oasis II
  • Session Type:Concurrent Session
  • Session Code:CS12-A
  • Audience Level:1
  • Learning Objective 1::Recognize the various ways in which model development can get into trouble
  • Learning Objective 2::Identify the essential components of Model Governance / Model Risk Management which insurers can install to develop, maintain, deliver and improve models that can be relied on to support decision-making
  • Learning Objective 3::Be able to organize and execute a model validation, cognizant of variety of criteria to be satisfied
  • Moderator:David Paul