Summary

Financial institutions, which have been grappling with the rapidly evolving risk landscape and the increasing power of technology, are facing an additional and unprecedented challenge owing to the pandemic. These are forcing financial institutions to further strengthen their risk management practices. However, while institutions have their own established standards and processes, they lack insights on industry best practices, the potential to identify gaps and adopt areas that provides scope for efficiency and/or synergies.

RISE is piloting a launch of the Model Risk study, part of its SCAN solution, with a provision to benchmark and provide actionable intelligence around policies, practices, and roadmap for management of the pandemic’s impact across the Model Risk Management (MRM) function.

RISE hosted a virtual roundtable to discuss the granular aspects of the study, including the value of the solution with practical illustrations, coverage scope and timelines. The session was attended by 35+ senior model risk professionals from across 19 global financial institutions, and included 10+ global heads of MRM.

Please contact us to learn more about the study.