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In April 2011, federal bank regulators published SR Letter 11-7, entitled 'Supervisory Guidance on Model Risk Management.' Why SR Letter 11-7 has become the gold standard for model risk management for all financial institutions? SR Letter 11-7 outlines the regulatory expectations with respect to the risk management processes and internal controls that banks must implement to ensure that models are developed, implemented and used in a well-controlled manner. The guidance also describes the roles of the various areas involved in the management and oversight of models, including the need for independent model validation and effective challenge. This webinar
will offer attendees an understanding of the background behind SR Letter 11-7. It will further discuss the purpose and scope behind the supervisory guidance on model risk management.
Key Learning Objectives- Understanding the SR11-7 guidance
- Applying the guidance contained in SR 11-7
- Reviewing current models in context of SR 11-7
- Improving the effective use of risk management models
- Evaluating policies and procedures that govern the development and use of risk management models
- Ensuring that there is appropriate board of director and executive/senior management oversight of the development and use of risk management models
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 | Robert Geary
Robert has been a banking and finance industry professional for 43 years with 34 years serving in a variety of senior Treasury, financial market, asset management and risk management roles at JP Morgan Chase & Co. |
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